ML Aggarwal ICSE Solutions Class 10 Math 1st Chapter GST
Class 10 Chapter 1 GSTExercise
(1) An article is marked at 15,000. A dealer sells it to a consumer at 10% profit. If the rate of GST is 12%, find:
(i) The selling price (excluding tax) of the article.
(ii) The amount of tax (under GST) paid by the consumer.
(iii) The total amount paid by the consumer.
Solution:
Given that, An article is marked at 15,000.
And a dealer sells it to a consumer at 10% Profit and the
rate of GST is 12%.
(i) The selling price (excluding tax) of the article is given by
= 15000 + (15000×10)/100
= 15000 + 1500
= 16,500
Thus, the selling price (excluding tax) of the article is found to be 16,500.
(ii) The amount of tax (under GST) paid by the consumer is found to be
(16500×12)/100
= 1980
Thus, the amount of tax paid by the consumer found to be 1980.
(iii) The total amount paid by the consumer is given by
= 16,500 + 1980
= 18,480.
Thus, the total amount paid by the consumer is found to be 18,480.
(2) A shopkeeper buys goods worth 4000 and sells there at a profit of 20% to a consumer in the same state. If GST is changed at 5% find:
(i) the selling price (excluding tax) of the goods.
(ii) CGST paid by the consumer.
(iii) SGST paid by the consumer.
(iv) The total amount paid by the consumer.
Solution:
Given that, A shopkeeper buys goods worth 4000 & sells these at a profit of 20% to a consumer in the same state. And the GST charged is 5%.
(i) The selling price (excluding tax) of the goods is found to be
= 4000 + 4000 × 20/100
= 4000 + 800
= 4800
Thus, the selling price (excluding tax) of the goods is found to be 4800.
(ii) CGST paid by the consumer is found to be
= 4800×2.5/100
= 120
Thus, the CGST paid by the consumer is found to be
= 120
(iii) SGST paid by the consumer is given by
= 4800×2.5/100
= 120
Thus, the SGST paid by the consumer is found to be 120.
iv) The total amount paid by the consumer is given by Amount
= selling price +CGST + SGST
= 4800 + 120 + 120
= 5040
Thus, the total amount paid by the consumer is found to be 5040.
(3) The marked price of an article is 12,500. A dealer in Kolkata sells the article to consumer in the same city at a profit of 8%. If the rate of GST is 18%, find,
(i) The selling price (excluding tax) of the article.
(ii) IGST, CGST and SGST paid by the dealer to the Central and state government.
(iii) The amount which the consumer pays for the article.
Solution: Here, given that
The marked price of an article is 12,500.
A dealer in Kolkata sells it to consumer in the same city at a profit of 8%. Add the GST found is 18%.
(i) The selling price (excluding tax) of the article is given by
= 12,500 + 12,500×8/100
= 12500 + 1000
= 13,500
Thus, the selling price (excluding tax) of the article is found to be 13,500.
(ii) IGST is nil here because of intra state.
CGST paid by the dealer to the central government is given
By, = 13,500×9/100
= 1215
Thus, the CGST paid by the dealer to the Central Government is found to be 1215.
SGST paid by the dealer to the state government is given by
= 13500×9/100
= 1215
Thus, the SGST paid by the dealer to the state government is found to be 1215.
(iii) The amount which the consumer pays for the article is given by
Amount = Selling price + CGST + SGST
= 13,500 1,215 + 1,215
=15,930
Thus, the amount which the consumer pays for the article is found to be 15,930.
(4) A shopkeeper buys an article from a wholesaler for 20,000 and sells it to a consumer at 10% profit. If the rate of GST is 12%, find the tax liability of the shopkeeper.
Solution:
Given that, A shopkeeper buys an article from a wholesaler for 20,000.
It sells to a consumer at 10% profit. And the rate of GST is found to be 12%.
Cost Price of article = 20,000
Profit = 10% and rate of GST = 12%
Initially, we will find selling price.
SP = CP + Profit
= 20,000 + 20,000×10/100
= 20,000 + 2000
SP = 22,000
Thus, the tax liability is given by
Tax liability = output CGST + SGST – input CGST + SGST
= 22,000×5/100 + 22,000×5/100
= 11,00 + 11,00
= 2200
Thus, the tax liability of shopkeeper is found to be 2200.
(5) A dealer buys an article for 6000 from a wholesaler. The dealer sells the article consumer at 15% profit. If the sales are intra-state and the rate of GST is 18% find-
(i) Input CGST and input SGST paid by the dealer.
(ii) Output CGST and output SGST collected by the dealer.
iii) The net CGST and SGST paid by the dealer.
iv) The total amount paid by the consumer.
Solution:
Here, given that, A dealer buys an article for 6000 from a wholesaler.
He sells the article consumer at 15% profit.
The sales are intra-state and rate of GST is 18%.
(i) Input CGST and input SGST paid by the dealer is given by,
Input CGST = 6000×9/100 = 540
Output SGST = 6000×9/100 = 540
(ii) Initially, we will find selling price here.
SP = CP + profit
= 6000+6000×15/100
= 6000 + 900
SP = 6900
Thus, output CGST = 6900×9/100 = 621
Output SGST = 6900×9/100 = 621
Thus, output CGST and output SGST collectively found to be (621 + 621) = 1242.
(iii) The net CGST paid by the dealer is given by Net CGST paid by the dealer = output CGST- input CGST= 621-540 = 81 And net SGST paid by the dealer is given by Net SGST paid by the dealer = output SGST- input SGST
= 621-540
= 81
Thus, net CGST paid by the dealer is found to be 81 and net SGST paid by the dealer is found to be 81.
(iv) The total amount of paid by the consumer is found to be, Amount = SP+ SGST + CGST
= 6900 + 81 + 81
= 7062
Thus, the total amount of paid by the consumer is found to be 7062.
(6) A manufacturer buys raw material worth 7,500 paying GST at the rate of 5%. He sells the finished product to dealer at 40% profit. If the purchase and the sale both are intra-state and the rate of GST for the finished product is 12%, find:
(i) The input tax (under GST) paid by the manufacturer.
(ii) The output tax (under GST) collected by the manufacturer.
(iii) The tax (under GST) paid by the manufacturer to the Central & state governments.
(iv) The amount paid by the dealer for the finished product.
Solution:
A manufacturer buys raw material worth 7500 paying GST at the rate of 5%. He sells the finished product to a dealer at 40% profit. Here, Purchase & sale both are intra-state and the rate of GST is 12%.
(i) Selling Price = 7500 + 7500×40/100
= 7500 + 3000
SP = 10,500
Then, input tax (under GST) paid by the manufacturer is given by
CGST = 7500×2.5/100
= 187.5
And SGST = 7500×2.5/100
= 187.5
(ii) The output tax (under GST) collected by the manufacturer is given by
CGST = 10,500×6/100 = 630
And SGST = 10,500×6/100 = 630
(iii) The tax (under CST) paid by the manufacturer to the Central Governments is given by
CGST = output tax – input tax
= 630 -187.5
= CGST = 442.50
And SGST= output tax – input tax
= 630 – 187.5
SGST = 442.50
(iv) The amount paid by the dealer for the finished product is given by
= Amount = SP + Tax
= 10, 500 + 10,500×12/100
= 10,500 + 1260
Amount = 11,760
Thus, the amount paid by the dealer for the finished product is found to be 11,760.
(7) A manufacturer sells a TV to a dealer for 18,000 and the dealer sell it to a consumer at a profit of R1500. If the sales are intra-state and the rate of GST is 12%. find
(i) The amount of GST paid by the dealer to the state Government.
(ii) The amount of GST received by the Central Government.
(iii) The amount of GST received by the state Government.
(iv) The amount that the consumer pays for the T.V.
Solution:
Here, given that
A manufacturer sells a TV to a dealer for 18,000 & the dealer sells it to a consumer at a profit of R1500. The sell are intrastate and GST is 12%.
SGST = CGST = 1/2 GST
Now, the amount of GST collected by manufacturer from dealer is given by,
CGST – SGST 6% of 18,000
= 6×18,000 /100
= 1080
Thus, we can say, the manufacturer will pay Rs.1080 as CGST and same as SGST.
Now, Cost Price of a TV for dealer = 18,000 and profit given Rs.1500/-
Then, Selling Pace = cost price + Profit
= 18,000 + 1500
SP = 19,500
Then, amount of GST collected by dealer from 6% customer is given by,
CGST = SGST = 6% of 19,500
= 6×19500/100
CGST = SGST = 1170
(i) The amount of GST paid by the dealer to the state government is given by (1170-1080) = 90
(ii) The amount of GST received by the Central Government is given by,
Amount = (GGST paid by manufacturer + CGST paid by dealer)
= 1080 + 90
Amount =1170
Thus, the amount of GST received by the Central Government is found to be Rs.1170.
(iii) The amount of GST received by the State Government is given by
Amount = (SGST paid by manufacturer) + (SGST paid by dealer)
= 1080 + 90
Amount = 1170
Thus, the amount of GST received by the State Government is found to be 1170.
(iv) The amount that the consumer pays for the TV is given by
Amount (Cost Price of TV) + (CGST paid by consumer) + (SGST paid by Consumer)
Amount = 19,500 + 1170 +11 70
Amount = 21840
Thus, the amount that the consumer pays for the TV is found to be 21,840.
(8) A shopkeeper buys a Camera at a discount of 20% from a wholesaler, the printed price of the camera being Rs. 1600. The shopkeeper sells it to a consumer at the printed price. If the sales are intra-state and the rate of GST is 12% find,
(i) GST paid by the shopkeeper to the Central Government
(ii) GST received by the Central Government.
(iii) GST received by the State Government
(vi) The amount at which the consumer bought the camera.
Solution:
Here, the case of intra-state is given.
And SGST= CGST = 1/2 GST
Also, shopkeeper buys a camera at a discount of 20%
The printed price of camera = 1600.
Then, Cost Price of camera for shopkeeper
= Painted Price – discount
CP = 1600 – 20% of 1600
CP = 1600 – (20×1600/100)
= 1600-320
CP = 1280
But, the rate of GST given is 12%.
Then, Amount of GST paid by the shopkeeper to the wholesaler is given by
Amount = CGST= SGST = 6% of 1280
= 6×1280/100
= 76.80
(i) Now, the GST paid by the shopkeeper to the central Government is given by
CGST = SGST = 6% of 1600
=(6×1600/100) = 96
Then, GST paid by the shopkeeper to the central government
= (96 – 76.80) = 19.20.
(ii) The GST received by the Central Government is found to be
(CGST paid by Wholesaler) + (GGST paid by Shopkeeper) = (76.80+19.20) = 96
(iii)The GST received by the State Government is given by
(SGST paid by Wholesaler) + (SGST paid by Shopkeeper) = 76.80 + 19.20 = 90
Thus, the GST received by the state Government is found to be 90.
(iv) The amount at which the consumer bought camera is given by
(Amount paid by the Consumer for camera) = (CP of camera + CGST paid by consumer + SGST paid by consumer)
= (1600 +96 + 96)
= 1792
Thus, the amount at which the consumer bought camera is found to be of 1792.
(9) A dealer buys an article at a discount of 30% from the wholesaler, the marked price being 6000. The dealer sells it to a consumer at a discount of 10% on the marked price. If the sales are intra-state and the rate of GST is 5% find,
(i) The amount paid by the consumer for the article.
(ii) The tax (under GST) paid by the dealer to the State Government.
(iii) The amount of tax (under GST) received by the Central Government.
Solution:
Here, the case of intra-state to transaction of good and service is given.
SGST = CGST= 1/2 (GST)
And, the rate of GST= 5%.
The discount given by the wholesaler to the dealer is 30%.
Then, (CP of an article for dealer) = (Marked price – discount)
= 6000 – 30% of 6000
= 6000 -(30×6000/100)
= 6000 -1800
CP = 4200
And, the amount of GST paid by the dealer to wholesaler is given by,
CGST = SGST = 2.5% of 4200
= 2·5×4200/100
= Rs 105
(i) The (Selling price of an article for consumer) = (Marked price) – (discount)
= 6000 – 10% of 6000
= 6000 -(10×6000/100)
= 6000 – 600
SP = 5400
Then, amount of GST paid by the consumer to dealer is given by
CGST = SGST= 2.5% of 5400
= 2.5×5400 / 100
= RS 135
Now, (Amount paid by consumer for article) = (CP of article for consumer) + (CGST paid by consumer) + (SGST paid by consumer)
= Amount (5400 + 135 +135) = 5670
(ii) The tax (under GST) paid by the dealer to the State Government
is given by
= (135 – 105 = 30)
(iii) The amount of tax (under GST) received by the Central Government is found to be
= (CGST paid by wholesaler + CGST paid by dealer)
= 105 + 30
= ₹135
(10) The printed price of an article is 50,000. The wholesaler allows a discount of 10% to a shopkeeper. The shopkeeper sells the article to a consumer at 4% above the marked price. If the sales are intra-state and the rate of GST is 18% find
(i) The amount of tax (under GST) which the shopkeeper pays the article.
(ii) The amount paid by the consumer for the article.
(iii) The amount of tax (under GST) paid by the shopkeeper to the Central Government.
(iv) The amount of lax (under GST) received by the state Government.
Solution:
Here, the case of intra-state is given and SGST = CGST = 1/2 GST
The marked price of the article: 50,000/- and the rate of GST found is 18%.
(i) (The CP of an article for Shopkeeper) = (Marked price – Discount)
= 50,000 – 10% of 50,000
= 50,000 – (10 × 50,000/100)
= 50,000 – 5000
CP = 45,000
Then, the amount of GST paid by dealer to wholesaler is,
CGST= SGST = 9% of 45,000
= (9×45000/100)
= 4050
Thus, (Amount paid by, shopkeeper for an article = (CP of an article for shopkeeper) + (CGST paid by consumer) + (SGST paid by consumer)
= 45,000 + 4050 + 4050
= 53,100
(ii) The amount paid by the consumer for the article is given by
SP = marked price – discount
= 50,000 -4% of 50,000
= 50,000 – (4 × 50,000/100)
= 50,000 – 2000
SP = 48,000
Then, amount of GST paid by consumer to dealer is found to be,
CGST= SGST= 9% of 48,000
= (9×48,000/100)
= 4320/-
Thus, (Amount paid by consumer) = (CP of article for consumer) + (SGST paid by Consumer) + (CGST paid by consumer)
= 48,00 + 4320 + 4320
Amount = 56,640
(iii) The amount of tax (under GST) received by the state Government is
given by
Amount = SGST paid by wholesaler + SGST paid by shopkeeper
= 4050+270
Amount = 4320
(iv) The amount of tax (under GST) paid by the shopkeeper to the central Government is given by
(4320 – 4050) = 270
(11) A retailer buys a TV. from a wholesaler for 40,000. He marks the price of the TV 15% above his cost price and sell it to a consumer at 5% discount on the marked price. If the sales are intra-state and the rate of GST is 12%. Find
(i) The marked price of the TV.
(ii) The amount which the consumer pays for the T.V.
(iii) The amount of tax (under GST) paid by the retailer to the Central Government.
(iv) The amount of tax (under GST) received by the state government.
Solution:
Here the case of intra-state is given.
And SGST = CGST = ½ GST.
(i) For the material price of the T.V.
Here, Cost Price of TV for retailer = 40,000
Then, marked price of TV = 40,000 + 15% of 40,000
= 40,000 + 15×40,000/100
= 40,000 + 6000
Market price = 46000
Thus, the marked price of TV is found to be 46,000.
(ii) For the amount which the consumer pays for the TV:
Here, the discount given by retailer to the consumer on market price of TV is 5%
Then, Amount = Marked price – 5% of 46,000
= 46,000 – 5×46,000/100
= Amount 46,000 – 2300
= Amount = 43,700
Again, the rate of GST given is 12%
Hence, the amount of GST paid by consumer is given by
= 12% of 43,700
= 12×43,700/100
= GST paid = 5244
Thus, the total amount which consumer pays for TV is given by
= 43,700 + 5244
= 48,944
(iii) For the amount of tax (under GST) paid by the retailer to the Central Government CGST paid by the shopkeeper = 6% of 40,000
= 6×40,000/100
= CGST = 2400
And SGST paid by the shopkeeper = 6% of 40,000
= SGST = 2400
The article sell to consumer at rate = 43,700
Then, GST collected by Shopkeeper = 12% of 43,700
= 12×43700/100 = 5244
And CGST of shopkeeper = SGST = 6% of 43,700
= 6×43700/100 = 2622
Thus, the amount of tax (under GST) paid by the retailer to the central Government is given by = 2622 – 2400 – 222
(iv) For the amount of tax (under GST) received by the state Government
= SGST paid by wholesaler + SGST paid by shopkeeper
= 2400 + 222
= 2622
Thus, the amount of tax (under GST) received by the State Government is 2622.
(12) A shopkeeper buys an article from a manufacturer for 12,000 and marks up it price by 25%. The shopkeeper gives a discount of 10% on the marked up price and he gives further off-season discount of 5% on the balance to a consumer of TV. If the sales are intra-state and the rate of GST is 12%. find:
(i)The price inclusive of tax (under GST) which the Consumer pays for the TV.
(ii) The amount of tax (under GST) paid by the shopkeeper to the State Government.
(iii) The amount of tax (under GST) received by the Central Government.
Solution:
Here, given that, A shopkeeper buys an article from a manufactures for 12,000 and marks up it price by 25% discount given on marked price is 10%. And further off-season discount given is 5%.The sales are intra-state and rate of GST is 12%.
(i) For the price inclusive of tax (under GST) which the Consumer pays for the TV.
Cost Price of an article for shopkeeper = 12,000.
Then, marked price will be,
Marked price of article = 12,000 + 25% of 12,000
= 12,000 + (25×12000/100)
= 12000 + 3000
= Marked price = 15,000
Discount given on masked price is 10%.
= 10% of 15,000 = 10×15,000/100 = 1500
Again, discount of off-season given on the balance is 5%
= 5% of (15,000 -1500) = 5×13,500/100 = 675
Thus, Cost price of TV for Consumer = 13,500-675
= 12,825
Amount of GST paid by the consumer = 12% of 12,825
= 12×12825/100
= 1539
Finally, the price inclusive of tax (under GST) which the consumer pays for the TV is given by 12,825 + 1539 = 14364
(ii) For the amount of tax (under GST) paid by the shopkeeper to the State Government:
CGST = SGST 6% of 12000
= 6×12,000/100
CGST = SGST = 720
Then, GST paid the consumer to shopkeeper, CGST = SGST = 6% of 12,825
= 6×12,825/100
CGST= SGST= 769.50
Thus, the amount of tax (under GST) paid by the shopkeeper to the State government is = 769. 50 – 720 = 49.50
(iii) For the amount of tax (under CST) received by the Central Government:
CGST paid by manufacturer = 720
CGST paid by shopkeeper = 769.50 – 720= 49.50
Thus, the amount of tax (under CST) received by the Central Government is 720 + 49.50 = 769.50
(15) A dealer in Delhi buys an article for 16,000 from a wholesaler in Delhi. He sells the article to a consumer in Rajasthan at a profit of 25%. If the rate of GST is 5%. Find
(i) The tax (under GST) paid by the wholesaler to governments.
(ii) The tax (under GST) paid by the dealer to the Government
(iii) The amount which the consumer pays for the article.
Solution:
Here, given that,
A dealer in Delhi buys an article for 16,000.
After that dealer sells article to a consumer in Rajasthan at a profit of 25%.
And the rate of GST is 5%
Then, Selling Price of dealer
= 16,000 + 25% of 16,000
= 16,000 + 25 ×16000/100
= 16,000 + 4000
SP = 20,000
(i) For the CGST paid by the wholesaler to Governments:
(Output tax – Input tax) = (20,000×2.5/100) – (16000×2.5/100)
= 400
And SGST paid by the wholesaler to Governments:
(Output tax-Input tax) = (20,000×2.5/100) – (16,000×2.5/100)
= 400
(ii) For CGST paid by the wholesaler to Governments:
(Output tax – Input tax) = (20,000×2.5) – (16,000×2.5/100)
= 200
(iii) For the amount which the consumer pays for the article:
Selling Price + Tax = 20,000 + (20,000×5/100)
= 21,000
(16) A dealer in Maharashtra buys an article from a wholesale in Maharashtra at a discount of 25%., the printed price of the article being 20,000. He sells the article to a consumer in Telangana at a discount of 10%., on the printed price. If the rate of GST is 12%. Find
(i) The tax (under GST) paid by the wholesaler to governments.
(ii) The tax (under GST) paid by the dealer to the government.
(iii) The amount which the consumer pays for the article.
Solution:
Here given that, A dealer in Maharashtra buys an article from a wholesaler in Maharashtra at a discount of 25%.
The printed price of the article is 20,000.
Again, he sells the article to a consumer in Telangana at a discount of 10% on the printed price. And the rate of GST is 12%.
(i) The tax (under GST) paid by the wholesaler to Governments:
(SGST paid by the wholesaler to governments)
= 15,000×6/100
= 900 (To Maharashtra government)
CGST paid by the wholesales to governments is given by
= 15,000×6/100
= 900 (to Maharashtra government)
(ii) For the fax (under GST) paid by the dealer to Government:
Since, sells are intra-state so that all tax goes to Central government.
CGST = Output – Input
= (18,000×12/100) – (15,000×12/100) = 360 (IGST to Central govt.)
(iii) For the amount which the consumer pays for the article:
Selling Price of dealer +Tax
= 18,000 + (18,000×12/100)
= 18,000+2160
= 20160
Thus, the amount which the consumer pays for the article is 20,160.
(17) Kiran purchases an article for 5310 which includes 10% rebate on the marked price and 18% tax (under GST) on the remaining price. Find the marked price of the article.
Solution:
Here, given that, Rate of GST is 18%.
Then, Cost Price of an article = x – 10% of x
= x – (10x/100)
= 90x/100
= 9x/10
Thus, the amount of GST on CP of article = 18% of (9x/10)
= (18×9x/100×10)
Total Cost Price of article
= (9x/10) + (18×9x/10×100] – [9x/10(1+18/100)] – [118×9x/100×10]
But, Cost Price of an article including tax is = 5310.
Thus, (118(9x)/100×10) = 5310
x = 5310 × (100/118) × (10/9)
x = 5000
Thus, the marked price of an article is found to be 5000.
(18) A shopkeeper buys an article whose list price is 8000 at some rate of discount from a wholesaler. He sells the article to a consumer at the list price. The sales are intra-state and the rate of GST is 18%. If the shopkeeper pay tax (under GST) of 72 to the state Government, find the rate of discount at which he bought the article from the wholesaler.
Solution:
Here, given that List price of an article = 8000
Let us consider, the rate of discount given by wholesaler is ‘x’ %.
Then, discount = x % of 8000.
= x × 8000/100 = 80x
Then, Cost price of an article for shopkeeper 8000 – 80x
But, given that Cost Price of article for consumer = 800
And GST rate is 18% with intra-state sells.
Hence, CGST = SGST= 9%
The amount of GST paid by shopkeeper to wholesaler,
SGST= CGST=9% of [ 8,000 – 80x]
= 9 × (8000 – 800/100)
And amount of GST paid by consumer to shopkeeper is given by
CGST = SGST= 9% of 8,000
= 9×8,000/100
CGST = SGST = 720
Thus, the tax paid by the shopkeeper to state government
= 720 – [9 × (8000-80x/100)]
But, the tax paid by shopkeeper to state government is 72.
Thus, 72 = 720 – [9×80 (100 – x/100)]
720 – 72 = (720/100 × (100-x)]
648 =72/10 (100 – x)
100 – x = 648×10/72
100 – x =90
x = 100 – 90
x =10
Thus, the rate of discount is found to be 10%.