Tag: gst (goods and service tax)

Questions Related to gst (goods and service tax)

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

Rate of GST on essential commodities is:

  1. $5\%$
  2. $12\%$
  3. $0\%$
  4. $18\%$
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Items such as unbranded atta/maida/besan, unpacked food grains, milk, eggs, curd, lassi, fresh vegetables and contraceptives, come under the category of essential commodities used by common man, and are exempted from GST($0\%$).

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.$6876.10$.