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Multiple choice maths gst (goods and service tax) more about gst commission, brokerage and vat taxation, calculation of income tax

In the format of GSTIN there are ...... alpha-numerals.

  1. $15$
  2. $10$
  3. $16$
  4. $9$
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

GSTIN contains 2 digits of state code, followed by 10 alpha-numeric characters of owner's PAN number, then State registration number and letter Z, last digit or alphabet is the checksum. So in total there are 15 alpha-numerals. 

Multiple choice maths gst (goods and service tax) more about gst commission, brokerage and vat taxation, calculation of income tax

An article was purchased for $Rs. 1239$ including GST of $18\%$. Find the price of the article before GST was added

  1. Rs. $1050$
  2. Rs. $1100$
  3. Rs. $1150$
  4. Rs. $1200$
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Given:

$GST=18\%$

Now   $118\%$ of $x=1239$

$\dfrac{118x}{100}=1239$

$x=\dfrac{123900}{118}$

$x=1050Rs$

The price of the article before GST was added $=1050Rs$

Multiple choice maths gst (goods and service tax) more about gst commission, brokerage and vat taxation, calculation of income tax

Rajeev buys good worth $Rs.6650$. He gets a rebate of $6$% on it. After getting the rebate, he pays sales tax@ $10$%. Find the amount he will have to pay for the goods.

  1. $6876.10$
  2. $6999.20$
  3. $6654$
  4. $7000$
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Rebate$=6\%, MP=Rs.6650$


$SP=94\%\times 6650=Rs.6251$


Sales tax$=10\%$

Total amount Rajeev pays$=10\%\times 6251 +  6251=Rs. (625.1  + 6251 ) =$ Rs.$6876.10$.

Multiple choice maths gst (goods and service tax) more about gst commission, brokerage and vat taxation, calculation of income tax

How many alpha numerals are there in the $GSTIN$ of a registered dealer

  1. $15$
  2. $10$
  3. $16$
  4. $9$
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A Goods and Services Tax Identification Number (GSTIN) is a unique 15-character alphanumeric code assigned to every registered taxpayer in India. The structure consists of state code, PAN, entity code, checksum character, and default designators.

Multiple choice maths gst (goods and service tax) more about gst commission, brokerage and vat taxation, calculation of income tax

The cost of furniture inclusive of VAT is $Rs.\ 7150$. If the rate of VAT is $10\%$, find the original cost of the furniture.

  1. $Rs.\ 5000$
  2. $Rs.\ 3000$
  3. $Rs.\ 6500$
  4. $Rs.\ 2000$
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Let the cost be Rs $x$
VAT $= 10 \%$
Cost including VAT $= Rs. 7150 = x + 10 \%$ of $x$
$7150 = x + \cfrac{10}{100} \times x$
$7150 = \cfrac{110}{100} x$
$x = Rs. 6500$
Thus, original cost of the furniture is $Rs. 6500$

Multiple choice maths gst (goods and service tax) more about gst commission, brokerage and vat taxation, calculation of income tax

The marked price of an article is Rs. $900$ and the rate of sales tax on it is $6 \%$.If on selling the article at its marked price, a retailer has to pay Rs $4.80$ ; find the money paid by him (including sales tax) for purchasing the article.

  1. $700.40$
  2. $800.20$
  3. $829.20$
  4. $869.20$
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Let the profit of the retailer $=$ Rs. $x$

As the VAT paid by the shopkeeper is Rs. $4.80$ and rate of sales tax is $6\%$, then $6\%$ of $x$ $=4.80$.
$\Rightarrow \dfrac {6}{100}\times x=4.80$
$\Rightarrow x=\dfrac {480}{6}=80$
Now, profit of the retailer $=900-80=$ Rs. $820$
Sales tax paid by the retailer $=6\%$ of Rs. $820=\dfrac {6}{100}\times 820=$ Rs.$49.20$.
So, price of the article including sales tax paid by the retailer $=820+49.20=$ Rs. $869.20$.
Therefore, the money paid for purchasing the article is Rs. $869.20$.