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Maths 4 Marks Questions

P-1 Financial Planning · Maharashtra Board STD 10 (MSBSHSE - Semi English Medium). 46 questions.

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Question 14 Marks
Mr. D'souza purchased 200 shares of FV Rs. 50 at a premium of Rs. 100. He received 50% dividend on the shares. After receiving the dividend he sold 100 shares at a discount of Rs. 10 and remaining shares were sold at a premium of Rs. 75. For each trade he paid the brokerage of Rs. 20. Find whether Mr. D'souza gained or incurred a loss? by how much?
Answer
Given:

Number of shares Mr. D’souza purchased = 200

FV = Rs. 50

Premium = Rs. 100

We know that if MV > FV, then the share is at premium.

∴ MV = FV + Premium

⇒ MV = 50 + 100 = Rs. 150

Value of 200 shares = 200 × 150 = Rs 30,000

We know that dividend per share =

∴ Dividend per share =

= Rs. 25

∴ Total dividend received = 200 × 25 = Rs. 5000

100 shares sold at discount of Rs 10.

∴ Selling price of 100 shares = 100 × (50-10)

= 100 × 40

= Rs 4000

Amount received on selling 100 shares = selling price – brokerage

= 4000 – 20

= Rs 3980

Another 100 shares were sold at a premium of Rs. 75.

∴ MV = FV + Premium

⇒ MV = 50 + 75 = Rs. 125

Selling price of 100 shares = 100× 125

= Rs 12500

Amount received on selling 100 shares = selling price – brokerage

= 12500 – 20

= Rs 12480

Total amount = 5000 + 3980 + 12480

= Rs 21460

Investment = 30,000

Loss = Investment – amount on selling the shares

= 30,000 – 21460

= Rs 8560

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Question 24 Marks
Smt. Desai sold shares of face value Rs. 100 when the market value was Rs. 50 and received Rs. 4988.20. She paid brokerage 0.2% and GST on brokerage 18%, then how many shares did she sell?
Answer
Given, FV = Rs. 100
MV = Rs. 50
Total Value of shares = Rs. 4988.20
Brokerage 0.2% = $\frac{0.2}{100} \times 50$ = Rs. 0.1
GST per share on Brokerage = 18% of 0.1 = 0.018
We know that cost of a share = MV + Brokerage + GST
∴ Cost of 1 share = 50 + 0.1 + 0.018 = Rs. 50.118
We know that total value of shares = Total Value + Brokerage + GST on brokerage
∴ 4988.20 = Total Value + 0.1 + 0.018
⇒ Total Value = 4988.20 – 0.1 – 0.018
∴ Total Value = Rs. 4988.082
We know that Investment (Total Value) = Cost × Number of shares
∴ Number of shares =  $\frac{4988.082}{50.118}$= 99.5 ≈ 100
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Question 34 Marks
Fill in the blanks given in the contract note of sale-purchase of shares.
(B - buy S - sell)
Answer
B-Buy:
We know that Investment (total value) = Number of shares × MV
∴ Total value = 100 × 45
= Rs. 4500
We know that brokerage = Total Value × Brokerage rate
∴ Brokerage = 4500 × 0.2%
= Rs. 9
We know that CGST on brokerage = brokerage × CGST rate
∴ CGST on brokerage = 9 × 9%
= Rs. 0.81
We know that CGST value is equal to SGST value.
∴ SGST on brokerage = Rs. 0.81
We know that total value of shares = Total Value + Brokerage + CGST on brokerage + SGST on brokerage
⇒ Total value of shares = 4500 + 9 + 0.81 + 0.81
= Rs. 4510.62
S-Sell:
Total value = 200 × 75
= Rs. 15000
Brokerage = 15000 × 0.2%
= Rs. 30
CGST on brokerage = 30 × 9%
= Rs. 2.70 = SGST on brokerage
Total value of shares = 15000 + 30 + 2.70 + 2.70
= Rs. 14964.60
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Question 44 Marks
Smt. Anagha Doshi purchased 22 shares of FV Rs. 100 for Market Value of Rs. 660. Find the sum invested. After taking 20% dividend, she sold all the shares when market value was Rs. 650. She paid 0.1% brokerage for each trading done. Find the percent of profit or loss in the share trading. (Write your answer to the nearest integer.)
Answer
No. of shares = 22
Face Value = Rs. 100
Market Value when purchased = Rs. 660
Market Value when sold = Rs. 650
Rate of brokerage = 0.1 %
$\text { Brokerage paid when purchased }=\frac{\text { Rate of Brokerage }}{100} \times \text { Market value when purchased }$
$\text { Brokerage paid when purchased }=\frac{0.1}{100} \times 660=\text { Rs. } 0.66$
$ \text { Brokerage paid when sold }=\frac{\text { Rate of Brokerage }}{100} \times \text { Market value when sold }$
$ \text { Brokerage paid when sold }=\frac{0.1}{100} \times 650=\text { Rs. } 0.65$
$ \text { Total value of purchase }=(660+0.66) \times 22=\text { Rs. } 14534.52 $
$ \text { Total value of sell }=(650-0.66) \times 22=\text { Rs. } 14285.48 $
$ \text { Loss in share selling }=(\text { Total value of purchase- Total value of sell })=\text { Rs. } 249.04 $
$ \text { Rate of Dividend }=20 \%$
$ \text { Dividend }=\frac{\text { Rate of Dividend }}{100} \times \text { Face Value } $
$ \Rightarrow \text { Dividend }=\frac{20}{100} \times 100=\text { Rs. } 20 $
$\text { Total dividend }=(20 \times 22)=\text { Rs. } 440 $
$\text { Overall profit in the trade }=(\text { Total dividend- Loss in share selling })=\text { Rs. } 190.96 $
$ \text { Profit percent }=\frac{\text { Overall profit in the trade }}{\text { Total value of purchase }} \times 100 $
$ \Rightarrow \text { Profit percent }=\frac{190.96}{14534.52} \times 100=1 \%(\text { Rounded Off })$
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Question 54 Marks
Prepare Business to Business (B2B) Tax Invoice as per the details given below. name of the supplier, address, Date etc. as per your choice.
Supplier - Name, Address, State, GSTIN, Invoice No., Date
Recipient - Name, Address, State, GSTIN,
Items :
(1) Pencil boxes 100, HSN - 3924, Rate - Rs. 20, GST 12%
(2) Jigsaw Puzzles 50, HSN 9503, Rate - Rs. 100 GST 12%.
Answer
COMING SOON
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Question 64 Marks
Prepare Business to Consumer (B2C) tax invoice using given information. Write the name of the supplier, address, state, Date, invoice number, GSTIN etc. as per your choice. Supplier : M/s - - -- - Address- - - - - State - - - - - Date - - - - - - - Invoice No. - - - - - GSTIN - - - - - - - - - - - - - -
Particulars –
Rate of Mobile Battery - Rs. 200 Rate of GST 12% HSN 8507, 1 pc.
Rate of Headphone - Rs. 750 Rate of GST 18% HSN 8518, 1 pc.
Answer
Mobile Battery:
Taxable Value = Rs. 200
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%
We know that CGST $=\frac{\text { CGST\% }}{100} \times$ Taxable value
$\Rightarrow$ CGST $=\frac{6}{100} \times 200$
= Rs. 12
∵ CGST = SGST
∴ SGST = Rs. 12
We know that Total Value = Taxable value + CGST + SGST
∴ Total Value = 200 + 12 + 12 = Rs. 224
Headphone:
Taxable Value = Rs. 750
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
$\Rightarrow$ CGST $=\frac{9}{100} \times 750$
= Rs. 67.5
∵ CGST = SGST
∴ SGST = Rs. 67.5
We know that Total Value = Taxable value + CGST + SGST
∴ Total Value = 750 + 67.5 + 67.5 = Rs. 885

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Question 74 Marks
For the given trading chain prepare the tax invoice I, II, III. GST at the rate of 12% was charged for the article supplied.

(1) Prepare the statement of GST payable under each head by the wholesaler, distributor and retailer at the time of filing the return to the government.
(2) At the end what amount is paid by the consumer?
(3) Write which of the invoices issued are B2B and B2C?
Answer
Rate of GST $=12 \%$
Taxable value for manufacturer $=\text { Rs. } 5000$
Total GST paid by manufacturer $=\frac{\text { Rate of GST }}{100} \times \text { Taxable value }=\text { Rs. } 600$
Total CGST paid by manufacturer $=\frac{\text { Total GST }}{2}=\text { Rs. } 300 $ Total SGST paid by manufacturer $=\frac{\text { Total GST }}{2}= Rs. 300 $
Taxable value for distributor $=\text { Rs. } 6000$
Total GST for distributor $=\frac{\text { Rate of GST }}{100} \times \text { Taxable value }=\text { Rs. } 720$
Total GST payable $=(720-600)=\text { Rs. } 120$
Total CGST paid by distributor $=\frac{\text { Total GST payable }}{2}=\text { Rs. } 60$
Total SGST paid by distributor $=\frac{\text { Total GS payable }}{2}=\text { Rs. } 60$
Taxable value for distributor $=\text { Rs. } 6500$
Total GST for retailer $=\frac{\text { Rate of GST }}{100} \times \text { Taxable value }=\text { Rs. } 780$
Total GST payable for retailer $=(780-720)=\text { Rs. } 60$
Total CGST paid by retailer $=\frac{\text { Total GST payable }}{2}=\text { Rs. } 30$
Total SGST paid by retailer $=\frac{\text { Total GST payable }}{2}=\text { Rs. } 30$
Total Tax $=(600+120+60)=\text { Rs. } 780$
(1) Statement of GST :

(2) Amount paid by customer = (6500 + 780) = Rs. 7280
(3) The invoices between
• Manufacturer to Distributor:B2B
• Distributor to Retailer:B2B
• Retailer to Customer:B2C
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Question 84 Marks
Anna Patil (Thane, Maharashtra) supplied vacuum cleaner to a shopkeeper in Vasai(Mumbai) for the taxable value of Rs. 14,000, and GST rate of 28%. Shopkeepersold it to the customer at the same GST rate for Rs. 16,800 (taxable value) Find the following-
(1) Amount of CGST and SGST shown in the tax invoice issued by Anna Patil.
(2) Amount of CGST and SGST charged by the shopkeeper in Vasai.
(3) What is the CGST and SGST payable by shopkeeper in Vasai at the time offiling the return.
Answer
Amount at which the article was sold by Anna Patil = Rs. 14,000
Rate of GST = 28%
Amount of GST shown in the tax invoice issued by Anna Patil $=\frac{\text { Rate of GST }}{100} \times$ Amount at which the article was sold $=$ Rs. 3920
(1) Amount of CGST showed in the invoice of Anna Patil $=\frac{\text { Total GST }}{2}=$ Rs. 1960
Amount of SGST showed in the invoice of Anna Patil $=\frac{\text { Total GST }}{2}=$ Rs. 1960
Amount at which the article was sold by the shopkeeper $=$ Rs. 16,800
Amount of GST shown in the tax invoice issued by shopkeeper $=\frac{\text { Rate of GST }}{100} \times$ Amount at which the article was sold $=$ Rs. 4704
(2) Amount of CGST showed in the invoice of shopkeeper $=\frac{\text { Total GST }}{2}=$ Rs. 2352
Amount of SGST showed in the invoice of shopkeeper $=\frac{\text { Total GST }}{2}=$ Rs. 2352
(3) Amount of CGST payable by shopkeeper = (2352-1960) = Rs.392
Amount of SGST payable by shopkeeper = (2352-1960) = Rs.392
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Question 94 Marks
A wholesaler purchased electric goods for the taxable amount of Rs. 1,50,000. He sold it to the retailer for the taxable amount of Rs. 1,80,000. Retailer sold it to the customer for the taxable amount of Rs. 2,20,000. Rate of GST is 18%. Show the computation of GST in tax invoices of sales. Also find the payable CGST and payable SGST for wholesaler and retailer.
Answer
Purchase price of wholesaler $=$ Rs. $1,50,000$
Purchase price of retailer $=$ Rs. $1,80,000$
Purchase price of customer $=$ Rs. $2,20,000$
Rate of GST $=18 \%$
Manufacturer's Tax invoice:
Total GST $=\frac{\text { Rate of GST }}{100} \times$ Amount at which the article was sold $= Rs. 27,000$
Amount of CGST showed in the invoice of Manufacturer $=\frac{\text { Total GST }}{2}= Rs. 13,500$
Amount of SGST showed in the invoice of Manufacturer $=\frac{\text { Total GST }}{2}= Rs. 13,500$
Wholesaler's Tax invoice:
Total GST $=\frac{\text { Rate of GST }}{100} \times$ Amount at which the article was sold $= Rs. 32,400$
(1) Amount of CGST showed in the invoice of Wholesaler $=\frac{\text { Total GST }}{2}= Rs. 16,200$
Amount of SGST showed in the invoice of Wholesaler $=\frac{\text { Total GST }_2^2}{2}= Rs. 16,200$
Retailer's Tax invoice:
Total GST $=\frac{\text { Rate of GST }}{100} \times$ Amount at which the article was sold $= Rs. 39,600$
Amount of CGST showed in the invoice of Retailer $=\frac{\text { Total GST }}{2}= Rs. 19,800$
Amount of SGST showed in the invoice of Retailer $=\frac{\text { Total GST }}{2}= Rs. 19,800$
(2) CGST payable by wholesaler $=(16200-13500)= Rs. 2700$
SGST payable by wholesaler $=(16200-13500)= Rs. 2700$
CGST payable by retailer $=(19800-16200)= Rs. 3600$
SGST payable by retailer $=(19800-16200)= Rs. 3600$
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Question 104 Marks
Suppose a manufacturer sold a cycle for a taxable value of ₹ 4000 to the wholesaler. Wholesaler sold it to the retailer for ₹ 4800 (taxable value). Retailer sold it to a customer for ₹ 5200 (taxable value). Rate of GST is 12%. Complete the following activity to find the payable CGST and SGST at each stage of trading.
Answer
self
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Question 114 Marks
M/s. Jay Chemicals purchased a liquid soap for ₹ 8000 (with GST) and sold it to the consumers for ₹ 10,000 (with GST). Rate of GST is 18%. Find the amount of CGST and SGST to be paid by Jay Chemicals
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Question 124 Marks
Nalinitai invested ₹ 6024 in the shares of FV ₹ 10 when the Market Value was ₹ 60. She sold all the shares at MV of ₹ 50 after taking 60% dividend. She paid 0.4% brokerage at each stage of transactions. What was the total gain or loss in this transaction ?
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Question 134 Marks
Mr. Joshi purchased 250 shares of FV ₹ 100 for MV of ₹ 500. Find the sum invested. After taking 40% dividend, he sold all the shares when market value was ₹ 400. He paid 0.1% brokerage for each trading done. Find the percentage of profit or loss in the share trading.
Answer
Shares Purchased : FV = ₹ 100, MV = ₹ 500
No. of shares = 250
Brokerage per share$=\frac{0.1}{100} \times 500$
= ₹ 0.5
$\therefore$ Cost of one share = MV + Brokerage
= 500 + 0.5
= ₹ 500.5
$\therefore$ Cost of 250 shares = 250 × 500.5
= ₹ 1,25,125
$\therefore$ Sum invested by Mr. Joshi is ₹ 1,25,125.
Shares sold : FV = ₹ 100, MV = ₹ 400
Brokerage per share$=\frac{0.1}{100} \times 400$
= ₹ 0.4
$\therefore$ Selling price of per share= MV – Brokerage
= 400 – 0.4
= ₹ 399.6
$\therefore$ Selling price of 250 shares = 250 × 399.6
= ₹ 99,900
Dividend received 40%.
$\therefore$ Dividend per share
$=\frac{40}{100} \times 100$
= ₹ 40
$\therefore$ Dividend on 250 shares = 40 × 250
= ₹ 10,000
Mr. Joshi’s income = ₹ 99,900 + ₹ 10,000
= ₹ 1,09,900
But, sum invested by Mr. Joshi = ₹ 1,25,125
$\therefore$ Loss = 1,25,125 – 1,09,900
= ₹ 15,225
Loss Percent $=\frac{\text { Loss }}{\text { Amount invested }} \times 100$
$=\frac{15,225}{1,25,125} \times 100$
= 12.17
$\therefore$ Mr. Joshi incurred a loss of 12.17% in this trading.
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Question 144 Marks
A manufacturer sold electric goods for a taxable value of ₹ 40,000 to the wholeseller. Wholeseller sold it to the retailer for ₹ 48,000 (taxable value). Retailer sold it to a customer for ₹ 52,000 (taxable value). Rate of GST is 18%. Find the CGST and SGST payable at each stage of trading. Also show statement of GST payable at each stage of trading.
Answer
Output tax of manufacturer = 12% of 40,000
$=\frac{12}{100} \times 40,000$
= ₹ 4800
$\therefore$ GST payable by manufacturer = ₹ 4800
Output tax of wholeseller =12% of 48,000
$=\frac{12}{100} \times 48,000$
= ₹ 5760
$\therefore$ GST payable by wholeseller = Output tax – ITC
= 5760 – 4800
= ₹ 960
Output tax of Retailer = 12% of 52,000
$=\frac{12}{100} \times 52,000$
= ₹ 6240
$\therefore$ GST payable by Retailer = Output tax – ITC
= 6240 – 5760
= ₹ 480
Statement of GST payable at each stage of trading
PersonsPayable
GST		Payable
CGST		Payable
SGST
Manufacturer₹ 4800₹ 2400₹ 2400
Wholeseller₹ 960₹ 480₹ 480
Retailer₹ 480₹ 240₹ 240
Total Tax₹ 6240₹ 3120₹ 3120
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Question 154 Marks
Star Pharma purchased some chemicals for ₹ 8,000 (with GST) and sold it to the M/s. Pooja Chemicals for ₹ 10,000 (with GST). Rate of GST is $18 \%$. Find the amount of CGST and SGST to be paid by Star Pharma.
Answer
Total value (including GST) = Taxable value + GST
$\therefore$ The ratio of $\frac{\text { Total Value }}{\text { Taxable Value }}$ is constant as the rate of GST is same.
(i) For total value of ₹ 118, the taxable value is ₹ 100 and for total value of ₹ 8000, let taxable value be ₹ x.
$\therefore \frac{x}{8000}=\frac{100}{118}$
$\therefore \quad x=\frac{8000 \times 100}{118}$
$\therefore$ x = ₹ 6779.66
$\therefore$ GST paid at the time of the purchase
= 8000 – 6779.66
= ₹ 1220.34
$\therefore$ Input tax = ₹ 1220.34
$\therefore$ ITC = ₹ 1220.34 ...(i)
(ii) For total value of 10,000, let taxable value be ₹ y.
$\therefore \quad \frac{y}{10000}=\frac{100}{118}$
$\therefore \quad y=\frac{10000 \times 100}{118}$
$\therefore$ = ₹ 8474.58
$\therefore$ Output Tax = 10000 – 8474.58
= ₹ 1525.42 ...(ii)
$\therefore$ GST payable = Output tax – ITC
= ₹ 1525.42 – ₹ 1220.34 [From i, ii]
= ₹ 305.08
$\therefore$ Payable CGST = Payable SGST
$=\frac{305.08}{2}$
= ₹ 152.54
$\therefore$ Star Pharma has to pay ₹ 152.54 CGST and ₹ 152.54 SGST.
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Question 164 Marks
Mr. Deepak Pal invested ₹ 1,00,354 in shares of FV ₹ 100 , when the market value is ₹ 50 . Rate of brokerage is $0.3 \%$ and rate of GST on brokerage is $18 \%$, then how many shares were purchased?
Answer
FV = ₹ 100, MV = ₹ 50
$\therefore$ Brokerage per share = 0.3% of ₹ 50
$=\frac{0.3}{100} \times 50$
= ₹ 0.15
$\therefore$ GST per share = 18 % of ₹ 0.15
$=\frac{18}{100} \times 0.15$
= ₹ 0.027
Cost of 1 share = MV + Brokerage + GST
= 50 + 0.15 + 0.027
= ₹ 50.177
$\therefore $ Number of shares $=\frac{\text { Total investment }}{\text { Cost of } 1 \text { share }}$
$=\frac{1,00,354}{50.177}$
= 2000
$\therefore$ Mr. Deepak Pal purchased 2000 shares.
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Question 174 Marks
Usha Joshi invested an equal amount in two companies by purchasing equity shares with MV ₹ 145 and ₹ 160 each. The FV is same and it is ₹ 100 for both the shares. At the end of the year, both companies declared the dividends at 20% and 30% each; In which company was her investment profitable?
Answer
Rate of GST and brokerage is not given, so it is not considered.
Suppose the amount invested by Usha Joshi in both the companies is ₹ 23,200 (i.e. ₹ 145 $\times$ ₹ 160 )
Image
$\therefore$ Company 2 gives more amount of dividend than Company 1.
$\therefore$ Investment in company 2 is more profitable.
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Question 184 Marks
Mr. Modi invested ₹ 30,120 in equity shares of FV ₹10, when the market value was ₹ 60 . After receiving dividend on them at 90 %, he sold them at MV of ₹ 55 . In each transaction he paid 0.4 %. What was the total gain or loss in this transaction?
Answer
Rate of GST is not given, so it is not considered.
Shares Purchased : FV = ₹ 10, MV = ₹ 60
Brokerage per share = $\frac{0.4}{100} \times 60$
= ₹ 0.24
$\therefore$ Cost of one share $=60+0.24$
= ₹ 60.24
Number of shares purchased $=\frac{30120}{60.24}$
= 500
Shares sold : FV = ₹ 10, MV = ₹ 55
$\therefore$ Brokerage per share $=\frac{0.4}{100} \times 55$
= ₹ 0.22
$\therefore$ Selling price per share $=55-0.22$
= ₹ 54.78
$\therefore$ Selling price of 500 shares $=500 \times 54.78$
= ₹ 27,390
Dividend received 90%
$\therefore$ Dividend per share $\quad=\frac{90}{100} \times 10$
= ₹ 9
$\therefore$ Dividend of 500 shares $=9 \times 500$
= ₹ 4,500
Mr. Modi’s income = ₹ 27,390+₹ 4,500
=₹ 31,890
Sum invested $\quad$= ₹ 30,120
$\therefore$ Profit = 31,890 - 30,120 = ₹ 1,770
$\therefore$ Mr. Modi made a profit of ₹ 1770 in the whole transaction.
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Question 194 Marks
Mr. Ramesh Sawant invested ₹ 2,50,295 in shares of face value ₹ 100 each at ₹ 250 market value. He gave brokerage of 0.1 % and GST of 18 % on brokerage then how many shares are purchased by him?
Answer
1000
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Question 204 Marks
Mrs. Parekh invested an equal amount in two companies by purchasing equity shares with market price ₹ 145 and ₹ 160 each. At the end of the year, both the companies declared the dividend of 20 % and 30 % each. In which company was her investment profitable?
Answer
Second Company
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Question 214 Marks
A T.V. manufacturer sold a T.V. to wholesaler for taxable price of ₹ 10,500. The wholeseller sold it to retailer at ₹ 12,000 taxable price and retailer sold it to customer at ₹ 14,500 taxable price. The rate of GST is 18 %, then find the CGST and SGST applicable at every transaction.
Answer
IndividualsGSTCGSTSGST
Manufacturer₹ 1890₹ 945₹ 945
Wholeseller₹ 270₹ 135₹ 135
Retailer₹ 450₹ 225₹ 225
Total₹ 2610₹ 1305₹ 1305
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Question 224 Marks
M/S Shridhar Chemicals purchased washing powder for ₹ 10,000 taxable amount. They sold it to a shopkeeper for ₹ 12,000 taxable amount. The rate of GST is $18 \%$, then find the CGST and SGST to be paid by M/S Shridhar Chemicals.
Answer
CGST = SGST= ₹ 180
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Question 234 Marks
A courier company delivered a parcel from Mumbai to Pune. The customer paid ₹ 531 to the courier company. Now, tax invoice shows ₹ 450 as taxable price, CGST is ₹ 40.50 and SGST is ₹ 40.50 , then find the rate of GST applicable in this transaction.
Answer
$18 \%$
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Question 244 Marks
Disha purchased an A.C. Unit from a dealer. The printed price of an A.C. unit is ₹ 45,000 . Dealer offered a discount of 15 % on it. The rate of GST on it is 14 %. Then at what price A.C. unit was sold to Disha by dealer? Find CGST and SGST amount printed on tax invoice.
Answer
₹ 43,605, CGST = SGST = ₹ 2677.50
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Question 254 Marks
Smt. Anagha Doshi purchased 22 shares of FV Rs. 100 for Market Value of Rs. 660. Find the sum invested. After taking 20% dividend, she sold all the shares when market value was Rs. 650. She paid 0.1% brokerage for each trading done. Find the percent of profit or loss in the share trading. (Write your answer to the nearest integer.)
Answer
No. of shares = 22
Face Value = Rs. 100
Market Value when purchased = Rs. 660
Market Value when sold = Rs. 650
Rate of brokerage = 0.1 %
$\begin{array}{l}\text { Brokerage paid when purchased }=\frac{\text { Rate of Brokerage }}{100} \times \text { Market value when purchased } \\ \text { Brokerage paid when purchased }=\frac{0.1}{100} \times 660=\text { Rs. } 0.66 \\ \text { Brokerage paid when sold }=\frac{\text { Rate of Brokerage }}{100} \times \text { Market value when sold } \\ \text { Brokerage paid when sold }=\frac{0.1}{100} \times 650=\text { Rs. } 0.65 \\ \text { Total value of purchase }=(660+0.66) \times 22=\text { Rs. } 14534.52 \\ \text { Total value of sell }=(650-0.66) \times 22=\text { Rs. } 14285.48 \\ \text { Loss in share selling }=(\text { Total value of purchase- Total value of sell })=\text { Rs. } 249.04 \\ \text { Rate of Dividend }=20 \% \\ \text { Dividend }=\frac{\text { Rate of Dividend }}{100} \times \text { Face Value } \\ \Rightarrow \text { Dividend }=\frac{20}{100} \times 100=\text { Rs. } 20 \\ \text { Total dividend }=(20 \times 22)=\text { Rs. } 440 \\ \text { Overall profit in the trade }=(\text { Total dividend- Loss in share selling })=\text { Rs. } 190.96 \\ \text { Profit percent }=\frac{0 \text { verall profit in the trade }}{\text { Total value of purchase }} \times 100 \\ \Rightarrow \text { Profit percent }=\frac{190.96}{14534.52} \times 100=1 \%(\text { Rounded Off })\end{array}$
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Question 264 Marks
Anna Patil (Thane, Maharashtra) supplied vacuum cleaner to a shopkeeper in Vasai(Mumbai) for the taxable value of Rs. 14,000, and GST rate of 28%. Shopkeepersold it to the customer at the same GST rate for Rs. 16,800 (taxable value) Find the following-
(1) Amount of CGST and SGST shown in the tax invoice issued by Anna Patil.
(2) Amount of CGST and SGST charged by the shopkeeper in Vasai.
(3) What is the CGST and SGST payable by shopkeeper in Vasai at the time offiling the return.
Answer
Amount at which the article was sold by Anna Patil = Rs. 14,000
Rate of GST $=28 \%$
Amount of GST shown in the tax invoice issued by Anna Patil =
$\frac{\text { Rate of GST }}{100} \times$ Amount at which the article was sold $=$ Rs. 3920
(1) Amount of CGST showed in the invoice of Anna Patil $=\frac{\text { Total GST }}{2}=$ Rs. 1960
Amount of SGST showed in the invoice of Anna Patil $=\frac{\text { Total GST }}{2}=$ Rs. 1960
Amount at which the article was sold by the shopkeeper = Rs. 16,800
Amount of GST shown in the tax invoice issued by shopkeeper =
$\frac{\text { Rate of GST }}{100} \times$ Amount at which the article was sold $=$ Rs. 4704
(2) Amount of CGST showed in the invoice of shopkeeper $=\frac{\text { Total GST }}{2}=$ Rs. 2352
Amount of SGST showed in the invoice of shopkeeper $=\frac{\text { Total GST }}{2}=$ Rs. 2352
(3) Amount of CGST payable by shopkeeper $=(2352-1960)=$ Rs. 392
Amount of SGST payable by shopkeeper $=(2352-1960)=$ Rs.392
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Question 274 Marks
Answer
Rate of GST = $12 \%$
Taxable value for manufacturer $=$ Rs. 5000
Total GST paid by manufacturer $=\frac{\text { Rate of GST }}{100} \times$ Taxable value $=$ Rs. 600
Total CGST paid by manufacturer $=\frac{\text { Total GST }}{2}=$ Rs. 300
Total SGST paid by manufacturer $=\frac{\text { Total GST }}{2}=$ Rs. 300
Taxable value for distributor $=$ Rs. 6000
Total GST for distributor $=\frac{\text { Rate of GST }}{100} \times$ Taxable value $=$ Rs. 720
Total GST payable $=(720-600)=$ Rs. 120
Total CGST paid by distributor $=\frac{\text { Total GST payable }}{2}=$ Rs. 60
Total SGST paid by distributor $=\frac{\text { Total GST payable }}{2}=$ Rs. 60
Taxable value for distributor $=$ Rs. 6500
Total GST for retailer $=\frac{\text { Rate of GST }}{100} \times$ Taxable value $=$ Rs. 780
Total GST payable for retailer $=(780-720)=$ Rs. 60
$\begin{array}{l}
\text { Total CGST paid by retailer }=\frac{\text { Total GST payable }}{2}=\text { Rs. } 30 \\
\text { Total SGST paid by retailer }=\frac{\text { Total GST payable }}{2}=\text { Rs. } 30 \\
\text { Total Tax }=(600+120+60)=\text { Rs. } 780
\end{array}$
(1) Statement of GST :

PersonPayable CGST
(Rs. )		Payable
SGST (Rs. )		Payable
GST (Rs. )
Manufacturer300300600
Distributor360-300=6060120
Retailer390-360=303060
Total Tax390390780

(2) Amount paid by customer = (6500 + 780) = Rs. 7280
(3) The invoices between
• Manufacturer to Distributor:B2B
• Distributor to Retailer:B2B
• Retailer to Customer:B2C

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Question 284 Marks
Mr. D'souza purchased 200 shares of FV Rs. 50 at a premium of Rs. 100. He received 50% dividend on the shares. After receiving the dividend he sold 100 shares at a discount of Rs. 10 and remaining shares were sold at a premium of Rs. 75. For each trade he paid the brokerage of Rs. 20. Find whether Mr. D'souza gained or incurred a loss? by how much?
Answer
Given:
Number of shares Mr. D’souza purchased = 200FV = Rs. 50Premium = Rs. 100We know that if MV > FV, then the share is at premium.∴ MV = FV + Premium⇒ MV = 50 + 100 = Rs. 150Value of 200 shares = 200 × 150 = Rs 30,000We know that dividend per share =∴ Dividend per share == Rs. 25∴ Total dividend received = 200 × 25 = Rs. 5000100 shares sold at discount of Rs 10.∴ Selling price of 100 shares = 100 × (50-10) = 100 × 40 = Rs 4000Amount received on selling 100 shares = selling price – brokerage = 4000 – 20 = Rs 3980 Another 100 shares were sold at a premium of Rs. 75.∴ MV = FV + Premium⇒ MV = 50 + 75 = Rs. 125Selling price of 100 shares = 100× 125 = Rs 12500Amount received on selling 100 shares = selling price – brokerage = 12500 – 20 = Rs 12480 Total amount = 5000 + 3980 + 12480 = Rs 21460Investment = 30,000Loss = Investment – amount on selling the shares = 30,000 – 21460 = Rs 8560
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Question 294 Marks
Smt. Desai sold shares of face value Rs. 100 when the market value was Rs. 50 and received Rs. 4988.20. She paid brokerage 0.2% and GST on brokerage 18%, then how many shares did she sell?
Answer
Given, FV = Rs. 100
$M V=$ Rs. 50
Total Value of shares $=$ Rs. 4988.20
Brokerage $0.2 \%=\frac{0.2}{100} \times 50=$ Rs. 0.1
GST per share on Brokerage $=18 \%$ of $0.1=0.018$
We know that cost of a share $=M V+$ Brokerage + GST
$\therefore$ Cost of 1 share $=50+0.1+0.018=$ Rs. 50.118
We know that total value of shares $=$ Total Value + Brokerage + GST on brokerage
$\therefore 4988.20=$ Total Value $+0.1+0.018$
$\Rightarrow$ Total Value $=4988.20-0.1-0.018$
$\therefore$ Total Value $=$ Rs. 4988.082
We know that Investment $($ Total Value $)=$ Cost $\times$ Number of shares
$\therefore$ Number of shares $=\frac{4988.082}{50.118}=99.5 \approx 100$
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Question 304 Marks
Fill in the blanks given in the contract note of sale-purchase of shares.
(B - buy S - sell)
No. of
shares		MV of
shares		Total
value		Brokerage
0.2%		9% CGST on
brokerage		9% SGST on
brokerage		Total value
of shares
100 BRs. 45     
75 SRs. 200     
Answer
B-Buy:
We know that Investment (total value) = Number of shares × MV
∴ Total value = 100 × 45
= Rs. 4500
We know that brokerage = Total Value × Brokerage rate
∴ Brokerage = 4500 × 0.2%
= Rs. 9
We know that CGST on brokerage = brokerage × CGST rate
∴ CGST on brokerage = 9 × 9%
= Rs. 0.81
We know that CGST value is equal to SGST value.
∴ SGST on brokerage = Rs. 0.81
We know that total value of shares = Total Value + Brokerage + CGST on brokerage + SGST on brokerage
⇒ Total value of shares = 4500 + 9 + 0.81 + 0.81
= Rs. 4510.62
S-Sell:
Total value = 200 × 75
= Rs. 15000
Brokerage = 15000 × 0.2%
= Rs. 30
CGST on brokerage = 30 × 9%
= Rs. 2.70 = SGST on brokerage
Total value of shares = 15000 + 30 + 2.70 + 2.70
= Rs. 14964.60
No. of
Shares		MV of
Shares		Total ValueBrokerage
0.2%		9% CGST on
brokerage		9% SGST on
brokerage		Total value of
shares
100 BRs. 45Rs. 4500Rs. 9Rs. 0.81Rs. 0.81Rs. 4510.62
75 SRs. 200Rs. 15000Rs. 30Rs. 2.70Rs. 2.70Rs. 14964.60
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Question 314 Marks
Prepare Business to Business (B2B) Tax Invoice as per the details given below. name of the supplier, address, Date etc. as per your choice.
Supplier - Name, Address, State, GSTIN, Invoice No., Date
Recipient - Name, Address, State, GSTIN,
Items :
(1) Pencil boxes 100, HSN - 3924, Rate - Rs. 20, GST 12%
(2) Jigsaw Puzzles 50, HSN 9503, Rate - Rs. 100 GST 12%.
Answer
Cost of 100 Pencil boxes
= 20 × 1oo
= ₹ 2000
CGST = 6% of 2000
$=\frac{6}{100} \times 2000$
= ₹ 120
∴ CGST = SGST = ₹ 120
Cost of 50 Jigsaw Puzzles = 100 × 50
= ₹ 5000
CGST = 6% of 5000
$=\frac{6}{100} \times 5000$
= ₹ 300
CGST – SGST = ₹ 300
Image
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Question 324 Marks
Prepare Business to Consumer (B2C) tax invoice using given information. Write the name of the supplier, address, state, Date, invoice number, GSTIN etc. as per your choice. Supplier : M/s - - -- - Address- - - - - State - - - - - Date - - - - - - - Invoice No. - - - - - GSTIN - - - - - - - - - - - - - -
Particulars –
Rate of Mobile Battery - Rs. 200 Rate of GST 12% HSN 8507, 1 pc.
Rate of Headphone - Rs. 750 Rate of GST 18% HSN 8518, 1 pc.
Answer
Mobile Battery:
Taxable Value $=$ Rs. 200
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 GST $= x + x$
$\begin{array}{l}
\Rightarrow 12=2 x \\
\Rightarrow x=6 \%
\end{array}$
Hence CGST, SGST $=6 \%$
We know that CGST $=\frac{\text { CGST } \%}{100} \times$ Taxable value
$\begin{array}{l}
\Rightarrow \text { CGST }=\frac{6}{100} \times 200 \\
=\text { Rs. } 12 \\
\because \text { CGST = SGST } \\
\therefore \text { SGST = Rs. } 12
\end{array}$
We know that Total Value $=$ Taxable value + CGST + SGST
∴ Total Value = 200 + 12 + 12 = Rs. 224
Headphone:
Taxable Value = Rs. 750
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
$\begin{array}{l}
\Rightarrow \text { CGST }=\frac{9}{100} \times 750 \\
=\text { Rs. } 67.5 \\
\because \text { CGST = SGST } \\
\therefore \text { SGST = Rs. } 67.5
\end{array}$
We know that Total Value $=$ Taxable value + CGST + SGST
$\therefore$ Total Value $=750+67.5+67.5=$ Rs. 885
Tax Invoice
SUPPLIER: A to Z ELECTRONIC MART GSTIN:27ABCDE1234H1Z5 CDE1234H1Z5
143, Shivaji Rasta, Mumbai
400001, Maharashtra.
Invoice No. GST/01 Invoice Date: 29-April-2018

S.NO.HSN
code		Name of
Product		RateQuantityTaxable
Amount		CGSTSGSTTotal
18507Mobile

Battery		Rs. 2001 pc.Rs.200Rs. 12Rs. 12Rs. 224
28518HeadphoneRs. 7501 pc.Rs. 750Rs. 67.5Rs. 67.5Rs. 885
     TotalRs. 79.5Rs. 79.5Rs. 1109
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Question 334 Marks
M/s. Jay Chemicals purchased a liquid soap for ₹ 8000 (with GST) and sold it to the consumers for ₹ 10,000 (with GST). Rate of GST is 18%. Find the amount of CGST and SGST to be paid by Jay Chemicals
Answer
Note that here the prices are including GST.
Total value (value with GST) $=$ Taxable value + GST
If the taxable value of liquid soap is $₹ 100$, then the total value is $₹ 118$.
The ratio of $\frac{\text { Total value }}{\text { Taxable Value }}$ is constant as the rate of GST is same.
i) For total value of ₹ 118 , the taxable value is ₹ 100 and for total value of ₹ 8000 , let the taxable value be ₹ $x$.
$\begin{array}{l}
\therefore \frac{x}{8000}=\frac{100}{118} \\
\therefore x=\frac{8000}{118} \times 100=₹ 6779.66
\end{array}$
$\therefore$ GST paid at the time of purchase $=8000-6779.66$
$\text { Input tax }=₹ 1220.34 \quad \therefore \text { ITC }=₹ 1220.34 \ldots . \text { (I) }$
ii) For total value of ₹ 10,000 let the taxable value be ₹ $y$.
$\begin{array}{l}
\therefore \frac{y}{10000}=\frac{100}{118} \\
\therefore y=\frac{10,00,000}{118}=₹ 8474.58 \text {. } \\
=₹ 1525.42 \ldots . \text { (II) } \\
\end{array}$
$\therefore$ Output tax $($ tax collected $)=10000.00-8474.58$
$\therefore$ GST payable $=$ Output tax - Input tax $=1525.42-1220.34$
$=₹ 305.08 .$
$\therefore$ payable $CGST =$ payable $SGST =305.08 \div 2=₹ 152.54$
Ans. : Jay Chemicals has to pay ₹ 152.54 CGST and ₹152.54 SGST.
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Question 344 Marks
Nalinitai invested ₹ 6024 in the shares of FV ₹ 10 when the Market Value was ₹ 60. She sold all the shares at MV of ₹ 50 after taking 60% dividend. She paid 0.4% brokerage at each stage of transactions. What was the total gain or loss in this transaction ?
Answer
Rate of GST is not given in the example, so it is not considered.
For Purchased Shares:
$FV =$ Rs. $10 . MV =$ Rs. 60
Brokerage per share $=\frac{0.4}{100} \times 60=₹ 0.24$
$\therefore$ Cost of one share $=60+0.24=₹ 60.24$
$\therefore$ Number of shares $=\frac{6024}{60.24}=100$
For sold Shares:
$\begin{array}{l} 
FV =₹ ~ 10, MV =₹ 50 \\
\therefore \text { Brokerage per share }=\frac{0.4}{100} \times 50= \mathbf { 0 . 2 0 } \\
\therefore \text { Selling price per share }=50-0.20 \\
=₹ 49.8 \\
=₹ 4980 \\
\end{array}$
$\therefore$ Selling price of 100 shares $=100 \times 49.80$
Dividend received $60 \%$
$\therefore$ Dividend per share $=\frac{60}{100} \times 10=₹ 6$
$\therefore$ Dividend on 100 shares $=6 \times 100=₹ 600$
$\therefore$ Nalinitai's income $=4980+600=₹ 5580$
Sum invested $=₹ 6024$
$\therefore$ Loss $=6024-5580=₹ 444$
$\therefore$ Nalinitai's loss is Rs. 444 .
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Question 354 Marks
Usha Joshi invested an equal amount in two companies by purchasing equity shares with MV ₹ 145 and ₹ 160 each. The FV is same and it is ₹ 100 for both the shares. At the end of the year, both companies declared the dividends at 20% and 30% each; In which company was her investment profitable?
Answer
Rate of GST and brokerage is not given, so it is not considered.
Suppose the amount invested by Usha Joshi in both the companies is ₹ 23,200 (i.e. ₹ 145 $\times$ ₹ 160 )
Image
$\therefore$ Company 2 gives more amount of dividend than Company 1.
$\therefore$ Investment in company 2 is more profitable.
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Question 364 Marks
Star Pharma purchased some chemicals for ₹ 8,000 (with GST) and sold it to the M/s. Pooja Chemicals for ₹ 10,000 (with GST). Rate of GST is $18 \%$. Find the amount of CGST and SGST to be paid by Star Pharma.
Answer
Total value (including GST) = Taxable value + GST
$\therefore$ The ratio of $\frac{\text { Total Value }}{\text { Taxable Value }}$ is constant as the rate of GST is same.
(i) For total value of ₹ 118, the taxable value is ₹ 100 and for total value of ₹ 8000, let taxable value be ₹ x.
$\therefore \frac{x}{8000}=\frac{100}{118}$
$\therefore \quad x=\frac{8000 \times 100}{118}$
$\therefore$ x = ₹ 6779.66
$\therefore$ GST paid at the time of the purchase
= 8000 – 6779.66
= ₹ 1220.34
$\therefore$ Input tax = ₹ 1220.34
$\therefore$ ITC = ₹ 1220.34 ...(i)
(ii) For total value of 10,000, let taxable value be ₹ y.
$\therefore \quad \frac{y}{10000}=\frac{100}{118}$
$\therefore \quad y=\frac{10000 \times 100}{118}$
$\therefore$ = ₹ 8474.58
$\therefore$ Output Tax = 10000 – 8474.58
= ₹ 1525.42 ...(ii)
$\therefore$ GST payable = Output tax – ITC
= ₹ 1525.42 – ₹ 1220.34 [From i, ii]
= ₹ 305.08
$\therefore$ Payable CGST = Payable SGST
$=\frac{305.08}{2}$
= ₹ 152.54
$\therefore$ Star Pharma has to pay ₹ 152.54 CGST and ₹ 152.54 SGST.
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Question 374 Marks
M/S Shridhar Chemicals purchased washing powder for ₹ 10,000 taxable amount. They sold it to a shopkeeper for ₹ 12,000 taxable amount. The rate of GST is $18 \%$, then find the CGST and SGST to be paid by M/S Shridhar Chemicals.
Answer
CGST = SGST= ₹ 180
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Question 384 Marks
Mrs. Parekh invested an equal amount in two companies by purchasing equity shares with market price ₹ 145 and ₹ 160 each. At the end of the year, both the companies declared the dividend of 20 % and 30 % each. In which company was her investment profitable?
Answer
Second Company
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Question 394 Marks
Mr. Ramesh Sawant invested ₹ 2,50,295 in shares of face value ₹ 100 each at ₹ 250 market value. He gave brokerage of 0.1 % and GST of 18 % on brokerage then how many shares are purchased by him?
Answer
1000
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Question 404 Marks
Mr. Modi invested ₹ 30,120 in equity shares of FV ₹10, when the market value was ₹ 60 . After receiving dividend on them at 90 %, he sold them at MV of ₹ 55 . In each transaction he paid 0.4 %. What was the total gain or loss in this transaction?
Answer
Rate of GST is not given, so it is not considered.
Shares Purchased : FV = ₹ 10, MV = ₹ 60
Brokerage per share = $\frac{0.4}{100} \times 60$
= ₹ 0.24
$\therefore$ Cost of one share $=60+0.24$
= ₹ 60.24
Number of shares purchased $=\frac{30120}{60.24}$
= 500
Shares sold : FV = ₹ 10, MV = ₹ 55
$\therefore$ Brokerage per share $=\frac{0.4}{100} \times 55$
= ₹ 0.22
$\therefore$ Selling price per share $=55-0.22$
= ₹ 54.78
$\therefore$ Selling price of 500 shares $=500 \times 54.78$
= ₹ 27,390
Dividend received 90%
$\therefore$ Dividend per share $\quad=\frac{90}{100} \times 10$
= ₹ 9
$\therefore$ Dividend of 500 shares $=9 \times 500$
= ₹ 4,500
Mr. Modi’s income = ₹ 27,390+₹ 4,500
=₹ 31,890
Sum invested $\quad$= ₹ 30,120
$\therefore$ Profit = 31,890 - 30,120 = ₹ 1,770
$\therefore$ Mr. Modi made a profit of ₹ 1770 in the whole transaction.
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Question 414 Marks
Mr. Joshi purchased 250 shares of FV ₹ 100 for MV of ₹ 500. Find the sum invested. After taking 40% dividend, he sold all the shares when market value was ₹ 400. He paid 0.1% brokerage for each trading done. Find the percentage of profit or loss in the share trading.
Answer
Shares Purchased : FV = ₹ 100, MV = ₹ 500
No. of shares = 250
Brokerage per share$=\frac{0.1}{100} \times 500$
= ₹ 0.5
$\therefore$ Cost of one share = MV + Brokerage
= 500 + 0.5
= ₹ 500.5
$\therefore$ Cost of 250 shares = 250 × 500.5
= ₹ 1,25,125
$\therefore$ Sum invested by Mr. Joshi is ₹ 1,25,125.
Shares sold : FV = ₹ 100, MV = ₹ 400
Brokerage per share$=\frac{0.1}{100} \times 400$
= ₹ 0.4
$\therefore$ Selling price of per share= MV – Brokerage
= 400 – 0.4
= ₹ 399.6
$\therefore$ Selling price of 250 shares = 250 × 399.6
= ₹ 99,900
Dividend received 40%.
$\therefore$ Dividend per share
$=\frac{40}{100} \times 100$
= ₹ 40
$\therefore$ Dividend on 250 shares = 40 × 250
= ₹ 10,000
Mr. Joshi’s income = ₹ 99,900 + ₹ 10,000
= ₹ 1,09,900
But, sum invested by Mr. Joshi = ₹ 1,25,125
$\therefore$ Loss = 1,25,125 – 1,09,900
= ₹ 15,225
Loss Percent $=\frac{\text { Loss }}{\text { Amount invested }} \times 100$
$=\frac{15,225}{1,25,125} \times 100$
= 12.17
$\therefore$ Mr. Joshi incurred a loss of 12.17% in this trading.
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Question 424 Marks
Mr. Deepak Pal invested ₹ 1,00,354 in shares of FV ₹ 100 , when the market value is ₹ 50 . Rate of brokerage is $0.3 \%$ and rate of GST on brokerage is $18 \%$, then how many shares were purchased?
Answer
FV = ₹ 100, MV = ₹ 50
$\therefore$ Brokerage per share = 0.3% of ₹ 50
$=\frac{0.3}{100} \times 50$
= ₹ 0.15
$\therefore$ GST per share = 18 % of ₹ 0.15
$=\frac{18}{100} \times 0.15$
= ₹ 0.027
Cost of 1 share = MV + Brokerage + GST
= 50 + 0.15 + 0.027
= ₹ 50.177
$\therefore $ Number of shares $=\frac{\text { Total investment }}{\text { Cost of } 1 \text { share }}$
$=\frac{1,00,354}{50.177}$
= 2000
$\therefore$ Mr. Deepak Pal purchased 2000 shares.
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Question 434 Marks
Disha purchased an A.C. Unit from a dealer. The printed price of an A.C. unit is ₹ 45,000 . Dealer offered a discount of 15 % on it. The rate of GST on it is 14 %. Then at what price A.C. unit was sold to Disha by dealer? Find CGST and SGST amount printed on tax invoice.
Answer
₹ 43,605, CGST = SGST = ₹ 2677.50
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Question 444 Marks
A T.V. manufacturer sold a T.V. to wholesaler for taxable price of ₹ 10,500. The wholeseller sold it to retailer at ₹ 12,000 taxable price and retailer sold it to customer at ₹ 14,500 taxable price. The rate of GST is 18 %, then find the CGST and SGST applicable at every transaction.
Answer
IndividualsGSTCGSTSGST
Manufacturer₹ 1890₹ 945₹ 945
Wholeseller₹ 270₹ 135₹ 135
Retailer₹ 450₹ 225₹ 225
Total₹ 2610₹ 1305₹ 1305
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Question 454 Marks
A manufacturer sold electric goods for a taxable value of ₹ 40,000 to the wholeseller. Wholeseller sold it to the retailer for ₹ 48,000 (taxable value). Retailer sold it to a customer for ₹ 52,000 (taxable value). Rate of GST is 18%. Find the CGST and SGST payable at each stage of trading. Also show statement of GST payable at each stage of trading.
Answer
Output tax of manufacturer = 12% of 40,000
$=\frac{12}{100} \times 40,000$
= ₹ 4800
$\therefore$ GST payable by manufacturer = ₹ 4800
Output tax of wholeseller =12% of 48,000
$=\frac{12}{100} \times 48,000$
= ₹ 5760
$\therefore$ GST payable by wholeseller = Output tax – ITC
= 5760 – 4800
= ₹ 960
Output tax of Retailer = 12% of 52,000
$=\frac{12}{100} \times 52,000$
= ₹ 6240
$\therefore$ GST payable by Retailer = Output tax – ITC
= 6240 – 5760
= ₹ 480
Statement of GST payable at each stage of trading
PersonsPayable
GST		Payable
CGST		Payable
SGST
Manufacturer₹ 4800₹ 2400₹ 2400
Wholeseller₹ 960₹ 480₹ 480
Retailer₹ 480₹ 240₹ 240
Total Tax₹ 6240₹ 3120₹ 3120
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Question 464 Marks
A courier company delivered a parcel from Mumbai to Pune. The customer paid ₹ 531 to the courier company. Now, tax invoice shows ₹ 450 as taxable price, CGST is ₹ 40.50 and SGST is ₹ 40.50 , then find the rate of GST applicable in this transaction.
Answer
$18 \%$
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