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Maths 2 Marks Questions

P-1 Financial Planning · Maharashtra Board STD 10 (MSBSHSE - Semi English Medium). 61 questions.

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Question 12 Marks
A trader from Surat, Gujarat sold cotton clothes to a trader in Rajkot, Gujarat. The taxable value of cotton clothes is Rs. 2.5 lacs. What is the amount of GST at 5% paid by the trader in Rajkot?
Answer
Taxable Value = Rs. 2,50,000
Rate of GST = 5%
Total GST $=\frac{\text { Rate OfGST }}{100} \times$ Taxable Value
$\Rightarrow$ Total amount of GST $=\frac{5}{100} \times 250000=$ Rs. 12,500
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Question 22 Marks
A share is sold for the market value of Rs. 1000. Brokerage is paid at the rate of 0.1%. What is the amount received after the sale?
Answer
Given, MV = Rs. 1000


Brokerage rate = 0.1%


We know that the selling price for a share = MV – Brokerage rate


∴ Selling price for a share = 1000 – 0.1% of 1000


= 1000 – 1


= 999


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Question 32 Marks
Market value of a share is Rs. 200. If the brokerage rate is 0.3% then find the purchase value of the share.
Answer
Given, MV = Rs. 200
Brokerage rate = 0.3%
We know that purchase value of a share = MV + Brokerage
∴ Purchase value of a share = 200 + 0.3% of 200
$=200+\frac{0.3}{100} \times 200$
= 200 + 0.60
= Rs. 200.60
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Question 42 Marks
Smt. Aruna Thakkar purchased 100 shares of FV 100 when the MV is Rs. 1200. She paid brokerage at the rate of 0.3% and 18% GST on brokerage.
Find the following -
(1) Net amount paid for 100 shares.
(2) Brokerage paid on sum invested.
(3) GST paid on brokerage.
(4) Total amount paid for 100 shares.
Answer
No. of shares = 100
Market value = Rs. 1200
(1) Net amount paid = (100× 1200) = Rs. 1,20,000
Rate of Brokerage = 0.3%
(2) Brokerage paid $=\frac{\text { Rate of Brokerage }}{100} \times$ Sum Invested $= Rs. 360$
Rate of GST $=18 \%$
(3) Total GST $=\frac{\text { Rate of GST }}{100} \times$ Brokerage $= Rs. 64.80$
(4) Total amount paid for 100 shares = (120000 + 360 + 64.80) = Rs. 1,20,424.80
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Question 52 Marks
Shri. Aditya Sanghavi invested Rs. 50,118 in shares of FV Rs. 100, when the market value is Rs. 50. Rate of brokerage is 0.2% and Rate of GST on brokerage is 18%, then How many shares were purchased for Rs. 50,118?
Answer
Amount invested = Rs. 50,118Let number of shares be n
Total Share Price = Market Value × Number of Shares = 50 n
Now Brokerage is calculated over total share price, Brokerage = 0.2% of 50 n
G.S.T is calculated over brokerage money, G.S.T = 18% of 0.2% of 50 n
Therefore,
(Total Share Price + Brokerage + G.S.T) = Money Invested
$\Rightarrow\left(50+\frac{0.2}{100} \times 50+\frac{18}{100} \times \frac{0.2}{100} \times 50\right) n =50118$
(50 n + 0.1 n + 0.018 n) = 50118
⇒ 50.118 n = 50118
⇒ n = 1000 shares
Hence, The total number of shares are 1000.
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Question 62 Marks
M/s Beauty Products paid 18% GST on cosmetics worth Rs. 6000 and sold to a customer for Rs. 10,000. What are the amounts of CGST and SGST shown in the tax invoice issued?
Answer
We know that CGST and SGST are components of GST.


CGST is always equal to SGST


i.e. GST = CGST + SGST


Let CGST and SGST be x.


Then GST = x + x


⇒ 18 = 2x


⇒ x = 9%


∴ CGST, SGST = 9%


CGST = 9% of 10, 000 = Rs. 900


∴ SGST = Rs. 900


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Question 72 Marks
Malik Gas Agency (Chandigarh Union Territory) purchased some gas cylinders for industrial use for Rs. 24,500, and sold them to the local customers for Rs. 26,500. Find the GST to be paid at the rate of 5% and hence the CGST and UTGST to be paid for this transaction. (for Union Territories there is UTGST instead of SGST.)
Answer
Input Tax = 5% of 24,500


= Rs. 1225


Output Tax = 5% of 26, 500


= Rs. 1325


We know that GST Payable = Output Tax – ITC


∴ GST Payable = 1325 – 1225


= Rs. 100


We know that CGST and SGST are components of GST.


CGST is always equal to SGST


i.e. GST = CGST + UTGST


Let CGST and UTGST be x.


Then GST = x + x


⇒ 100 = 2x


⇒ x = 50


∴ CGST, UTGST = Rs. 50


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Question 82 Marks
Find the number of shares received when Rs. 60,000 was invested in the shares of FV Rs. 100 and MV Rs. 120.
Answer
Market Value = Rs. 120
Amount invested = Rs. 60,000
No. of shares received $=\frac{\text { Amount invested }}{\text { Market Value }}=500$
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Question 92 Marks
Nazama is a proprietor of a firm, registered under GST. She has paid GST of Rs. 12,500 on purchase and collected Rs. 14,750 on sale. What is the amount of ITC to be claimed? What is the amount of GST payable?
Answer
Output Tax (tax collected at the time of sale) = Rs. 14,750


Input Tax (tax paid at the time of purchase) = Rs. 12,500


∴ Input Tax Credit, ITC = Rs. 12, 500


We know that GST Payable = Output Tax – ITC


⇒ GST Payable = 14, 750 – 12, 500


= Rs. 2, 250


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Question 102 Marks
Chetana Store' paid total GST of Rs. 1,00,500 at the time of purchase and collected GST Rs. 1,22,500 at the time of sale during 1st of July 2017 to 31st July 2017. Find the GST payable by Chetana Stores.
Answer
Output Tax (tax collected at the time of sale) = Rs. 1,22,500


Input Tax (tax paid at the time of purchase) = Rs. 1,00,500


∴ Input Tax Credit, ITC = Rs. 1, 00, 500


We know that GST Payable = Output Tax – ITC


⇒ GST Payable by Chetana stores = 1, 22, 500 – 1, 00, 500


= Rs. 22, 000


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Question 112 Marks
Find the purchase price of a share of FV Rs. 100 if it is at premium of Rs. 30. The brokerage rate is 0.3%.
Answer
Face Value = Rs. 100
Premium = Rs. 30
Market value = (100 + 30) = Rs. 130
Rate of Brokerage = 0.3%
$\text { Brokerage }=\frac{\text { Rate of Brokerage }}{100} \times \text { Market value } $
$ \text { Brokerage }=\frac{0.3}{100} \times 130=\text { Rs. } 0.39$
Purchase price = (130 + 0.39) = Rs. 130.39
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Question 122 Marks
Prasad purchased a washing-machine from 'Maharashtra Electronic Goods'. The discount of 5% was given on the printed price of Rs. 40,000. Rate of GST charged was 28%. Find the purchase price of washing machine. Also find the amount of CGST and SGST shown in the tax invoice.
Answer
Discount = 5% of 40, 000 = Rs. 2000


∴ Taxable value of washing machine = 40,000 – 2000 = Rs. 38, 000


Given, rate of GST = 28%


We know that CGST and SGST are components of GST.


CGST is always equal to SGST


i.e. GST = CGST + SGST


Let CGST and SGST be x.


Then GST = x + x


⇒ 28 = 2x


⇒ x = 14%


∴ CGST, SGST = 14%


∴ CGST = 14% of 38, 000 = Rs. 5320


∴ SGST = Rs. 5320


∴ Purchase price of washing machine = 38000 + 5320 + 5320


= Rs. 48, 640


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MCQ 132 Marks
Write the correct alternative for the following question.
What is the amount of dividend received per share of face value Rs. 10 and dividend declared is 50%.
  • A
    Rs. 50
  • ✓
    Rs. 5
  • C
    Rs. 500
  • D
    Rs. 100
Answer
Correct option: B.
Rs. 5
Rate of dividend = 50%
Dividend $=\frac{50}{100} \times 10=$ Rs. 5
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Question 142 Marks
Write the correct alternative for the following question.
If the Face Value of a share is Rs. 100 and Market value is Rs. 75,then which of the following statements is correct?
A. The share is at premium of Rs. 175
B. The share is at discount of Rs. 25
C. The share is at premium of Rs. 25
D. The share is at discount of Rs. 75
Answer
Market value = Rs. 75


Face Value = Rs. 100


If the market value is at a lower price than the face value then the share is in a discount.


Discount = (Face value-Market value) = Rs. 25
(A) The share is at premium Rs. 175 is wrong
(B) The share is at a discount of Rs. 25 is correct
(C) The share is at a premium of Rs. 25 is wrong
(D) The share is at discount of Rs. 75 is wrong
Hence, only B is correct

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Question 152 Marks
The taxable value of a wrist watch belt is Rs. 586. Rate of GST is 18%. Then what is price of the belt for the customer?
Answer
Given rate of GST = 18%
Taxable value of wrist watch belt = Rs.586
We know that CGST and SGST are components of GST.
CGST is always equal to SGST
i.e. GST = CGST + SGST
Let CGST and SGST be x.
Then GST = x + x
⇒ 18 = 2x
⇒ x = 9%
Hence CGST, SGST = 9%
We know that CGST $=\frac{\text { CGST\% }}{100} \times$ Taxable value
$\Rightarrow \text { CGST }=\frac{9}{100} \times 586$
= Rs.52.74
∵ CGST = SGST
∴ SGST = Rs.52.74
We know that price of a customer = Taxable value + CGST + SGST
∴ Price of belt for customer = 586 + 52.74 + 52.74
= 691.48
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Question 162 Marks
‘M/s. Real Paint’ sold 2 tins of lustre paint and taxable value of each tin is Rs. 2800. If the rate of GST is 28%, then find the amount of CGST and SGST charged in the tax invoice.
Answer
Given rate of GST = 28%
The taxable value of 1 tin = Rs.2800
∴ Taxable value of 2 tins = Rs.5600
We know that CGST and SGST are components of GST.
CGST is always equal to SGST
i.e. GST = CGST + SGST
Let CGST and SGST be x.
Then GST = x + x
⇒ 28 = 2x
⇒ x = 14%
Hence CGST, SGST = 14%
We know that CGST $=\frac{\text { CGST\% }}{100} \times$ Taxable value
$\Rightarrow \text { CGST }=\frac{14}{100} \times 5600$
= Rs.784
∵ CGST = SGST
∴ SGST = Rs.784
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Question 172 Marks
On certain article if rate of CGST is 9% then what is the rate of SGST? and what is the rate of GST?
Answer
We know that CGST and SGST are components of GST.


CGST is always equal to SGST.


∴ CGST = SGST = 9%


We know that GST = CGST + SGST.


∴ GST = 9% + 9% = 18%


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Question 182 Marks
Pawan Medical’ supplies medicines. On some medicines the rate of GST is 12%, then what is the rate of CGST and SGST?
Answer
We know that CGST and SGST are components of GST.


CGST is always equal to SGST


i.e. GST = CGST + SGST


Let CGST and SGST be x.


Then GST = x + x


⇒ 12 = 2x


⇒ x = 6%


Hence CGST, SGST = 6%


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Question 192 Marks
M/s. Jay Chemicals purchased a liquid soap having taxable value ₹ 8000 and sold it to the consumers for the taxable value ₹ 10,000. Rate of GST is 18%. Find the CGST and SGST payable by M/s. Jay Chemicals.
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Question 202 Marks
Shreekar bought a Laptop with 10% discount on printed price. The printed price of that Laptop was ₹ 50,000. 18% GST was charged on discounted price. Find the amount of CGST and SGST. What amount did Shreekar pay ?
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Question 212 Marks
Arati Gas Agency supplied LPG cylinder to the consumer for taxable value of ` 545. GST charged is 5%. What is the amount of CGST and SGST in the tax invoice ? What is the total amount paid by the consumer ? Find the amount of GST to be paid by Arati Gas Agency.
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Question 222 Marks
Bashirkhan purchased 100 shares of MV ₹ 40. Brokerage paid at the rate of 0.5% and rate of GST on brokerage is 18%. Find the total amount he paid for the share purchase.
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Question 232 Marks
suppose a person has paid ₹ 15,075 for buying 100 shares. In that ₹ 75 is the brokerage. So the buyer has to pay 18% GST on ₹ 75. Let us find the amount of GST he paid to the broker and prepare the contract note.
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Question 242 Marks
Smita has invested ₹ 12,000 and purchased shares of FV ₹ 10 at a premium of ₹ 2. Find the number of shares she purchased. complete the given activity to get the answer.
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Question 252 Marks
Shriyash purchased a share of FV ₹ 100 for MV of ₹ 120. Company declared 15% dividend on the share. Find the rate of return.
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Question 262 Marks
Mr. Kumar invested ₹ 25,000 in a mutual fund scheme. The NAV of one unit is ₹ 125, then how many units were obtained?
Answer
200
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Question 272 Marks
A share was sold at ₹ 950 market value and brokerage of $0.2 \%$ was paid then how much amount is obtained on selling it?
Answer
₹ 948.10
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Question 282 Marks
Mr. Deshmukh's investment in shares is given below. Find his total investment in shares.

Company A: 450 shares, face value $= \imath 100$
Premium $=₹ 25$
Company B: 500 shares, face value $-₹ 100$
Market Value = ₹ 205
Company C: 80 shares, face value $-₹ 100$
Discount $=₹ 15$
Answer
Company A: ₹ 56,250
Company B: ₹ 1,02,500
Company C: ₹ 6800
Total investment ₹ 1,65,550
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Question 292 Marks
Complete the following table:
Sr.
No.		Face ValueTypeMarket
Value
(i)₹ 100Premium
₹ 25		 
(ii) At par₹ 175
(iii)₹ 100Discount
₹ 40		 
Answer
(i) Market Value - ₹ 125
(ii) Face Value - ₹ 175
(iii) Market Value - ₹ 60
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Question 302 Marks
A sum of ₹ 75,000 invested in shares of face value ₹ 100 at ₹ 125 market value, then how many shares were purchased?
Answer
600
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Question 312 Marks
The total cost of a perfume bottle including GST is ₹ 590 . The rate of GST is $18 \%$. Find the taxable price of the perfume bottle.
Answer
₹ 500
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Question 322 Marks
Suppose in the month of July output tax of a trader is less than the input tax then how to compute his GST?
Answer
If output tax of a trader in a particular month is less than his input tax, then he won’t be able to get entire credit for his input tax. In such a case his balance credit will be carried forward and adjusted against the subsequent transactions.
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Question 332 Marks
Suppose in the month of July the output tax of a trader is equal to the input tax, then what is his payable GST?
Answer
Here, output tax is same as input tax.
∴ Trader payable GST will be zero.
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Question 342 Marks
Shri. Aditya Sanghavi invested Rs. 50,118 in shares of FV Rs. 100, when the market value is Rs. 50. Rate of brokerage is 0.2% and Rate of GST on brokerage is 18%, then How many shares were purchased for Rs. 50,118?
Answer
Amount invested = Rs. 50,118
Let number of shares be n
Total Share Price = Market Value × Number of Shares = 50 n
Now Brokerage is calculated over total share price, Brokerage = 0.2% of 50 n
G.S.T is calculated over brokerage money, G.S.T = 18% of 0.2% of 50 n
Therefore,
(Total Share Price + Brokerage + G.S.T) = Money Invested
$\Rightarrow\left(50+\frac{0.2}{100} \times 50+\frac{18}{100} \times \frac{0.2}{100} \times 50\right) n =50118$
(50 n + 0.1 n + 0.018 n) = 50118
⇒ 50.118 n = 50118
⇒ n = 1000 shares
Hence, The total number of shares are 1000.
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Question 352 Marks
Find the number of shares received when Rs. 60,000 was invested in the shares of FV Rs. 100 and MV Rs. 120.
Answer
Market Value = Rs. 120
Amount invested = Rs. 60,000
No. of shares received $=\frac{\text { Amount invested }}{\text { Market Value }}=500$
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Question 362 Marks
Sint. Aruna Thakkar purchased 100 shares of FV 100 when the MV is Rs. 1200. She paid brokerage at the rate of 0.3% and 18% GST on brokerage.
Find the following -
(1) Net amount paid for 100 shares.
(2) Brokerage paid on sum invested.
(3) GST paid on brokerage.
(4) Total amount paid for 100 shares.
Answer
No. of shares = 100
Market value = Rs. 1200
(1) Net amount paid = (100× 1200) = Rs. 1,20,000
Rate of Brokerage = 0.3%
(2) Brokerage paid $=\frac{\text { Rate of Brokerage }}{100} \times$ Sum Invested $=$ Rs. 360 Rate of GST $=18 \%$
(3) Total GST $=\frac{\text { Rate of GST }}{100} \times$ Brokerage $=$ Rs. 64.80
(4) Total amount paid for 100 shares = (120000 + 360 + 64.80) = Rs. 1,20,424.80
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Question 372 Marks
Smt. Malhotra purchased solar panels for the taxable value of Rs. 85,000. She sold them for Rs. 90,000. The rate of GST is 5%. Find the ITC of Smt. Malhotra. What is the amount of GST payable by her?
Answer

$\begin{array}{l}\text { Purchase Price }=\text { Rs. } 85,000 \\ \text { Rate of GST }=5 \% \\ \text { Input Tax }(\text { ITC })=\frac{\text { Rate OfGST }}{100} \times \text { Purchase Price } \\ \Rightarrow \text { Input Tax }(\text { ITC })=\frac{5}{100} \times 85000=\text { Rs. } 4250 \\ \text { Selling Price }=\text { Rs. } 90,000 \\ \text { Output Tax }=\frac{\text { Rate OfGST }}{100} \times \text { Selling Price } \\ \Rightarrow \text { Output Tax }=\frac{5}{100} \times 90000=\text { Rs. } 4500 \\ \text { Payable Tax }=(\text { Output Tax-ITC })=\text { Rs. } 250\end{array}$
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Question 382 Marks
A trader from Surat, Gujarat sold cotton clothes to a trader in Rajkot, Gujarat. The taxable value of cotton clothes is Rs. 2.5 lacs. What is the amount of GST at 5% paid by the trader in Rajkot?
Answer

$\begin{array}{l}\text { Taxable Value }=\text { Rs. } 2,50,000 \\ \text { Rate of GST }=5 \% \\ \text { Total GST }=\frac{\text { Rate OfGST }}{100} \times \text { Taxable Value } \\ \Rightarrow \text { Total amount of GST }=\frac{5}{100} \times 250000=\text { Rs. } 12,500\end{array}$
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Question 392 Marks
A share is sold for the market value of Rs. 1000. Brokerage is paid at the rate of 0.1%. What is the amount received after the sale?
Answer
Given, MV = Rs. 1000
Brokerage rate = 0.1%
We know that the selling price for a share = MV – Brokerage rate
∴ Selling price for a share = 1000 – 0.1% of 1000
= 1000 – 1
= 999
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Question 402 Marks
Market value of a share is Rs. 200. If the brokerage rate is 0.3% then find the purchase value of the share.
Answer
Given, MV = Rs. 200
Brokerage rate = 0.3%
We know that purchase value of a share = MV + Brokerage
∴ Purchase value of a share = 200 + 0.3% of 200
$=200+\frac{0.3}{100} \times 200$
= 200 + 0.60
= Rs. 200.60
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Question 412 Marks
M/s Beauty Products paid 18% GST on cosmetics worth Rs. 6000 and sold to a customer for Rs. 10,000. What are the amounts of CGST and SGST shown in the tax invoice issued?
Answer
We know that CGST and SGST are components of GST.
CGST is always equal to SGST
i.e. GST = CGST + SGST
Let CGST and SGST be x.
Then GST = x + x
⇒ 18 = 2x
⇒ x = 9%
∴ CGST, SGST = 9%
CGST = 9% of 10, 000 = Rs. 900
∴ SGST = RBBs. 900
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Question 422 Marks
Malik Gas Agency (Chandigarh Union Territory) purchased some gas cylinders for industrial use for Rs. 24,500, and sold them to the local customers for Rs. 26,500. Find the GST to be paid at the rate of 5% and hence the CGST and UTGST to be paid for this transaction. (for Union Territories there is UTGST instead of SGST.)
Answer
Input Tax = 5% of 24,500
= Rs. 1225
Output Tax = 5% of 26, 500
= Rs. 1325
We know that GST Payable = Output Tax – ITC
∴ GST Payable = 1325 – 1225
= Rs. 100
We know that CGST and SGST are components of GST.
CGST is always equal to SGST
i.e. GST = CGST + UTGST
Let CGST and UTGST be x.
Then GST = x + x
⇒ 100 = 2x
⇒ x = 50
∴ CGST, UTGST = Rs. 50
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Question 432 Marks
Nazama is a proprietor of a firm, registered under GST. She has paid GST of Rs. 12,500 on purchase and collected Rs. 14,750 on sale. What is the amount of ITC to be claimed? What is the amount of GST payable?
Answer
Output Tax (tax collected at the time of sale) = Rs. 14,750
Input Tax (tax paid at the time of purchase) = Rs. 12,500
∴ Input Tax Credit, ITC = Rs. 12, 500
We know that GST Payable = Output Tax – ITC
⇒ GST Payable = 14, 750 – 12, 500
= Rs. 2, 250
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Question 442 Marks
'Chetana Store' paid total GST of Rs. 1,00,500 at the time of purchase and collected GST Rs. 1,22,500 at the time of sale during 1st of July 2017 to 31st July 2017. Find the GST payable by Chetana Stores.
Answer
Output Tax (tax collected at the time of sale) = Rs. 1,22,500
Input Tax (tax paid at the time of purchase) = Rs. 1,00,500
∴ Input Tax Credit, ITC = Rs. 1, 00, 500
We know that GST Payable = Output Tax – ITC
⇒ GST Payable by Chetana stores = 1, 22, 500 – 1, 00, 500
= Rs. 22, 000
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Question 452 Marks
Prasad purchased a washing-machine from 'Maharashtra Electronic Goods'. The discount of 5% was given on the printed price of Rs. 40,000. Rate of GST charged was 28%. Find the purchase price of washing machine. Also find the amount of CGST and SGST shown in the tax invoice.
Answer
Discount = 5% of 40, 000 = Rs. 2000
∴ Taxable value of washing machine = 40,000 – 2000 = Rs. 38, 000
Given, rate of GST = 28%
We know that CGST and SGST are components of GST.
CGST is always equal to SGST
i.e. GST = CGST + SGST
Let CGST and SGST be x.
Then GST = x + x
⇒ 28 = 2x
⇒ x = 14%
∴ CGST, SGST = 14%
∴ CGST = 14% of 38, 000 = Rs. 5320
∴ SGST = Rs. 5320
∴ Purchase price of washing machine = 38000 + 5320 + 5320
= Rs. 48, 640
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Question 462 Marks
The taxable value of a wrist watch belt is Rs. 586. Rate of GST is 18%. Then what is price of the belt for the customer?
Answer
Given rate of GST $=18 \%$
Taxable value of wrist watch belt $=$ Rs. 586
We know that CGST and SGST are components of GST.
CGST is always equal to SGST
i.e. $G S T=$ CGST + SGST
Let CGST and SGST be $x$.
Then GST $= x + x$
$\begin{array}{l}
\Rightarrow 18=2 x \\
\Rightarrow x=9 \%
\end{array}$
Hence CGST, SGST $=9 \%$
We know that CGST $=\frac{\text { CGST } \%}{100} \times$ Taxable value
$\begin{array}{l}
\Rightarrow \text { CGST }=\frac{9}{100} \times 586 \\
=\text { Rs.52.74 } \\
\because \text { CGST = SGST } \\
\therefore \text { SGST = Rs.52.74 }
\end{array}$
We know that price of a customer $=$ Taxable value + CGST + SGST
$\therefore$ Price of belt for customer $=586+52.74+52.74$
$=691.48$
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Question 472 Marks
‘M/s. Real Paint’ sold 2 tins of lustre paint and taxable value of each tin is Rs. 2800. If the rate of GST is 28%, then find the amount of CGST and SGST charged in the tax invoice.
Answer
Given rate of GST $=28 \%$
The taxable value of 1 tin $=$ Rs. 2800
$\therefore$ Taxable value of 2 tins $=$ Rs. 5600
We know that CGST and SGST are components of GST.
CGST is always equal to SGST
i.e. $G S T=C G S T+S G S T$
Let CGST and SGST be $x$.
Then $G S T= x + x$
$\begin{array}{l}
\Rightarrow 28=2 x \\
\Rightarrow x=14 \%
\end{array}$
Hence CGST, SGST $=14 \%$
We know that CGST $=\frac{\text { CGST } \%}{100} \times$ Taxable value
$\begin{array}{l}
\Rightarrow \text { CGST }=\frac{14}{100} \times 5600 \\
=\text { Rs. } 784 \\
\because \text { CGST = SGST } \\
\therefore \text { SGST = Rs.784 }
\end{array}$
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Question 482 Marks
On certain article if rate of CGST is 9% then what is the rate of SGST? and what is the rate of GST?
Answer
We know that CGST and SGST are components of GST.
CGST is always equal to SGST.
∴ CGST = SGST = 9%
We know that GST = CGST + SGST.
∴ GST = 9% + 9% = 18%
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Question 492 Marks
Pawan Medical’ supplies medicines. On some medicines the rate of GST is 12%, then what is the rate of CGST and SGST?
Answer
We know that CGST and SGST are components of GST.
CGST is always equal to SGST
i.e. GST = CGST + SGST
Let CGST and SGST be x.
Then GST = x + x
⇒ 12 = 2x
⇒ x = 6%
Hence CGST, SGST = 6%
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Question 502 Marks
M/s. Jay Chemicals purchased a liquid soap having taxable value ₹ 8000 and sold it to the consumers for the taxable value ₹ 10,000. Rate of GST is 18%. Find the CGST and SGST payable by M/s. Jay Chemicals.
Answer
Input $\operatorname{Tax}=18 \%$ of $8000=\frac{18}{100} \times 8000=₹ 1440$
Output $\operatorname{Tax}=18 \%$ of $10,000 \quad=\frac{18}{100} \times 10000=₹ 1800$
∴ GST payable $=$ Output tax - ITC $\quad=1800-1440=₹ 360$
∴ payable CGST $=₹ 180$ and payable SGST $=₹ 180$ by M/s. Jay Chemicals
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