Account Case Study

There are three main components under GST which are IGST, CGST and SGST. Tax collected under CGST and IGST will constitute revenue of central government while collection of SGST is revenue for state govt. all tax like. VAT, entertainment tax, luxury tax and all other which have indirect nature will be merged with GST.
1. Nature of GST is
(A) Direct Tax
(B) Indirect Tax
(C) Merged Tax
(D) None of the above
2. Source of income for State Govt. under GST
(A) IGST
(B) CGST
(C) SGST
(D) All of the above
3. Source of income for Central Govt. under GST
(A) IGST
(B) CGST
(C) SGST
(D) Both (A) & (B)
4. Narrate IGST _________.
(A) Integrated Good & Sale Tax
(B) Inter Good & Services Tax
(C) Integrated Good & Services Tax
(D) Interrelated Good & Services Tax

Mr. A of Baroda purchased goods of Rs. 50,000 from Mr. B of Surat and Rs. 1,20,000 From Mr. X of Jaipur. Mr.A sold goods costing of 1,30,000 to a businessman in Gujarat for Rs. 1,50,000. Rate of IGST is 10%, Rate of SGST is 5% and Rate of CGST is 5%.
1. Amount of IGST charged by Mr. A.
(A) 12000
(B) 17000
(C) Nil
(D) 13000
2. Amount of IGST charged by Mr. X.
(A) 22000
(B) 17000
(C) 3000
(D) 12000
3. Amount of SGST charged by Mr. A.
(A) 15000
(B) 9000
(C) 7500
(D) 6500
4. Amount of CGST charged by Mr. A.
(A) 7500
(B) 6500
(C) 15000
(D) 13000