ML Aggarwal Solutions for Chapter 1 GST Class 10 Maths ICSE
1. An article is marked at ₹15000. 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 price.
(ii) the amount of tax (under GST) paid by the consumer.
(iii) the total amount paid by the consumer.
Answer
(i) the selling price (excluding tax) of the article.
15000 + (15000×10)/100
= 150000 + 1500 = 16500
(ii) the amount of tax (under GST) paid by the consumer.
(16500 × 12)/100 = 1980
(iii) the amount paid by the consumer
= 16500 + 1980 = 1848
2. A shopkeeper buy goods worth 4000 and sells these at a profit of 20% to a consumer in the same state. If GST is charged 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.
Answer
(i) the selling price (excluding tax) of the goods.
4000 + 4000 × 20/100
= 4000 + 800 = 4800
(ii) CGST paid by the consumer.
4800 × 2.5/100 = 120
(iii) SGST paid by the consumer.
4800 × 2.5/100 = 120
(iv) the total amount paid by the consumer.
Amount = Selling price + CGST + SGST
= 4800 + 120 + 120 = 504
3. The marked price of an article is 12500. 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.
Answer
(i) the selling price (excluding tax) of the article
= 12500 + 12500 × 8/100
= 12500 + 100 = 13500
(ii) IGST, CGST and SGST paid by the dealer to the Central and State Government
IGST, is nil due to intra state
CGST paid by the dealer to the Central Government
= 13500 × 9/100 = 1215
SGST paid by the dealer to the State Government
13500 × 9/100 = 1215
SGST paid by the dealer to the State Government
13500 × 9/100 = 1215
(iii) the amount which the consumer pays for the article.
Amount = Selling price + CGST+ SGST
= 13500 + 1215 + 1215 = 15930
4. A shopkeeper buys an article from a wholesaler for 20000 and sells it to a consumer at 10% profit, If the rate of GST is 12%, find the tax liability of the shopkeeper.
Answer
CP of article = 20000
Profit = 10% profit
Rate of GST is 12%
Rate of GST is 12%
To find the tax liability first find Selling Price
SP = CP + Profit
SP = 20000 + 20000 × 10/100
= 20000 + 2000
= 22000
Now the tax liability = output CGST + SGST – input CGST + SGST
= 22000 × 5/100 + 22000 × 5/100
= 1100 + 1100
= 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 output 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.
Answer
(i) input CGST and input SGST paid by the dealer.
Input CGST 6000 × 9/100 and input SGST 6000 × 9/100
540 and 540
(ii) first find SP
CP + Profit
6000 + 6000 × 15/100
= 6000 + 900 = 6900
Output CGST 6900 × 9/100 and output SGST 6900 × 9/100
= 621 + 621 = 1242
(iii) the net CGST paid by the dealer.
Net CGST paid by the dealer = output CGST – input CGST
= 621 – 540 = 81
Net SGST paid by the dealer.
Net SGST paid by the dealer = output SGST – input SGST
= 621 – 540 = 81
(iv) the total amount paid by the consumer.
SP + SGST + CGST
= 6900 + 81 + 81
= 7062
6. A manufacturer buys raw material worth 7500 paying GST at the rate of 5%. He sell the finished product to a 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 CST) paid by the manufacturer to the Central and State Governments.
(iv) the amount paid by the dealer for the finished product.
Answer
(i) SP = 7500 + 7500 × 40/100
SP = 7500 + 3000
SP = 10500
The input tax (under GST) paid by the manufacturer
CGST = 7500 × 2.5/100 = 187.5
SGST = 7500 × 2.5/100 = 187.5
(ii) the output tax (under GST) collected by the manufacturer
CGST = 10500 × 6/100 = 630
(iii) the tax (under CST) paid by the manufacturer to the Central Governments.
CGST = output tax – input tax
CGST = 10500 × 6/100 – 7500 ×2.5/100
= 630 – 187.5 = 442.50
SGST = output tax – input tax
SGST= 10500 × 6/100 – 7500 × 2.5/100
= 630 – 187.5
= 442.50
(iv) the amount paid by the dealer for the finished product.
= SP + Tax
= 10500 + 10500 × 12/100
= 10500 + 1260
= 1176
7. A manufacturer sells a TV. to a dealer for 18000 and the dealer sell it to a consumer at a profit of Rs 1500. 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 T.V.
(iv) the amount that the consumer pays for the TV
Answer
Since it is a case of intra-state transaction of goods and services
∴ SGST = CGST = ½ GST
Given a manufacturer sells T.V. to a dealer = ₹ 18000
Amount of GST collected by manufacturer from Dealer
CGST = SGST = 6% of ₹ 18000 = 6/100 × 18000 = ₹ 1080
∴ Manufacturer will pay ₹ 1080 as CGST and ₹1080 as SGST
Amount of input GST of dealer = Input CGST = ₹ 1080 and Input SGST = ₹ 1080
∴ C.P. of a T.V. for dealer = ₹ 18000
Profit = ₹ 1500
Selling Price of a TV for dealer to customer – C.P. + Profit = ₹ 18000 + ₹ 1500 = ₹ 19500
Amount of GST collected by dealer from customer:
CGST = SGST = 6% of ₹ 19500 = 6/100 × 19500 = ₹ 1170 and Output SGST = ₹ 1170
∴ Amount of output GST of dealer = Output CGST = ₹ 1170 and Output SGST = ₹ 1170
(i) Amount of GST paid by the dealer to the State Government = output CGST – Input CGST
= ₹ 1170 - ₹ 1080 = ₹ 90
(ii) Amount of CGST paid by the dealer = Output CGST – Input CGST = ₹ 1170 - ₹ 1080 = ₹ 90
∴ Amount of CGST received by Central Govt. = CGST paid by manufacturer + CGST paid by dealer = ₹ 1080 + ₹ 90 = ₹ 1170
(iii) Amount of SGST paid by dealer = Output SGST – Input SGST = ₹ 1170 – ₹ 1080 = ₹ 90
∴ Amount of SGST received by State Govt. = SGST paid by manufacturer + SGST paid by the dealer = ₹ 1080 + ₹ 90 = ₹ 1170
(iv) Amount paid by customer for T.V. = Cost price of T.V. + CGST paid by the customer + SGST paid by the customer = ₹ 19500 + ₹ 1170 = ₹ 21840
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
(iv) the amount at which the consumer bought the camera
Answer
Since, it is a case of intra-state transaction of goods and services.
∴ SGST = CGST = ½ GST
Given, printed price of a camera = ₹ 1600; Rate of discount = 20%
C.P. of a camera for shopkeeper = Printed price – Discount = ₹ 1600 - 20% of ₹ 1600
= ₹ 1600 – 20/100 × 1600
= ₹ 1600 - ₹ 320
= ₹ 1280
Given, rate of GST = 12%
Amount of GST paid by the shopkeeper to the wholesaler;
CGST = SGST = 6% of ₹ 1280 = 6/100 × 1280
= ₹ 76.80
(i) Amount of input GST of the shopkeeper: CGST - ₹ 76.80 and SGST - ₹ 76.80
Selling price of a camera by the shopkeeper to a consumer = ₹ 1600
Amount of GST paid by the consumer to shopkeeper:
CGST = SGST = 6% of 1600 = 6/100 × 1600
= ₹ 96
Amount of output GST of the shopkeeper = Output CGST = ₹ 96 and Output SGST = ₹ 96
Amount of GST paid by the shopkeeper to the Central Govt. = Output CGST – Input CGST
= ₹ 96 - ₹ 76.80
= ₹ 19.20
(ii) Amount of CGST paid by the shopkeeper = Output CGST – Input CGST = ₹ 96 - ₹ 76.80
= 19.20
∴ Amount of GST received by the Central Government = CGST paid by the wholesaler + CGST paid by the shopkeeper = ₹ 76.80 + ₹ 19.20
= ₹ 96
(iii) Amount of SGST paid by the shopkeeper – Output SGST – Input SGST = ₹ 96 - ₹ 76.80
= ₹ 19.20
∴ Amount of GST received by the State Government = SGST paid by the wholesaler + SGST paid by the shopkeeper = ₹ 76.80 + ₹ 19.20
= ₹ 96
(iv) The amount paid by the customer for camera = Cost price of a camera to consumer + CGST paid by the consumer + SGST paid by consumer = ₹ 1600 + ₹ 96 + ₹ 96
= ₹ 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
Answer:
Since, it is a case of intra – state transaction of good and service.
SGST = CGST = ½ GST; Rate of GST = 5%
Given Marked price of an article = ₹ 6000
Rate of discount given by the wholesaler = 30%
∴ C.P. of an article for dealer = Marked price – Discount = ₹ 6000 – 30% of ₹ 6000
= ₹ 6000 – 30/100 × 6000
= ₹ 6000 – 1800
= ₹ 4200
Amount of GST paid by the dealer to the wholesaler:
CGST = SGST = 2.5% of ₹ 4200
= 2.5/100 × 4200
= ₹ 105
∴ Amount of input GST for dealer : Input CGST = ₹ 105, Input SGST = ₹ 105
(i) Rate of discount given by dealer to consumer = 10% of marked price
Selling price of an article for consumer = Marked price – Discount = ₹ 6000 – 10% of ₹ 6000
= ₹ 6000 – 10/100 × 6000
= 5400
Amount of GST paid by consumer to dealer:
CGST = SGST = 2.5% of ₹ 5400
= 2.5/100 × 5400
= ₹ 135
∴ Amount of Output GST for dealer, Output CGST = ₹ 135, Output SGST = ₹ 135
∴ Amount paid by the consumer for an article = C.P. of an article for consumer + CGST paid by the consumer + SGST paid by the consumer = ₹ 5400 + ₹ 135 + ₹ 135
= ₹ 5670
(ii) Amount of SGST paid by the dealer to the State Government= Output CGST – Input CGST
= ₹ 135 - ₹ 105
₹ 30
(iii) Amount of CGST paid by the dealer to Central Government = Output CGST – Input CGST
= ₹ 135 - ₹ 105
= ₹ 30
∴ Amount of GST received by Central Government = CGST paid by the wholesaler + CGST paid by dealer = ₹ 105 + ₹ 30
= ₹ 135
10. The printed price of an article is 50000. 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 inclusive of tax (under GST) which the shopkeeper pays for 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 tax (under GST) received by the State Government.
Answer:
Since, it is case of intra-state transaction of goods and services.
∴ SGST = CGST = ½ GST; Rate of GST = 18%
Given, Marked price of an article = ₹ 50000
(i) Rate of discount given by the wholesaler = 10%
∴ C.P. of an article for shopkeeper = Marked price – Discount = ₹ 50000 – 10% of 50000
= ₹ 50000 – 10/100 × 50000
= ₹ 50000 – 5000
= ₹ 45000
Amount of GST paid by the dealer to the wholesaler:
CGST – SGST = 9% of 45000 – 9/100 × 4500
₹ 4050
∴ Amount of input GST for dealer : Input CGST = ₹ 4050, Input SGST = ₹ 4050
∴ Amount paid by the shopkeeper for an article = C.P. of an article for shopkeeper + CGST paid by the consumer + SGST paid by the consumer = ₹ 45000 + 4050 + ₹ 4050
= ₹ 53100
(ii) Rate of discount given by shopkeeper to consumer = 4% of marked price
Selling price of an article for consumer = Marked price – Discount
= ₹ 50000 – 4% of ₹ 50000
= ₹ 50000 + 4/100 × 50000
= ₹ 52000
Amount of GST paid by consumer to dealer:
CGST – SGST = 9% of ₹ 52000
= 9/100 × 52000
= ₹ 4680
∴ Amount of Output GST for dealer : Output CGST = ₹ 4680, Output SGST = ₹ 4680
∴ Amount paid by the consumer for an article = C.P. of an article for consumer + CGST paid by the consumer + SGST paid by the consumer
= ₹ 52000 + ₹ 4680
= ₹ 61360
(iii) Amount of CGST paid by the shopkeeper to Central Government = Output CGST - Input CGST
= ₹ 4680 - ₹ 4050
= ₹ 630
(iv) Amount of SGST paid by the shopkeeper to the State Government = Output SGST – Input SGST = ₹ 4680 - ₹ 4050
= 630
∴ Thus, required amount of tax (under GST) received by State Government = SGST paid by the wholesaler + SGST paid by shopkeeper = ₹ 4050 + ₹ 630
= ₹ 4680
11. A retailer buys a T.V. from a wholesaler for 40000. He marks the price of the TV 15% above his cost price and sells 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 TV,
(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.
Answer:
(i) Given C.P. of T.V. for retailer = ₹ (40,000)
∴ Marked price of T.V. - ₹(40,000 + 15% of 40,000)
₹ (40,000 + 15/100 × 40,000)
= ₹ (40,000 + 6000)
= ₹ 46,000
(ii) Discount given by retailer = 5% of ₹ 46000 = (5/100 × 46000)
= ₹ 2300
∴ Amount paid by consumer without GST for T.V. = ₹ 46,000 - ₹ 2300
= ₹ 43,700
Rate of GST = 12%
∴ Amount of GST paid by consumer = 12% of ₹ 43700
= ₹ (12/100 × 43700)
= ₹ 5244
∴ Amount which the consumer pays for TV = ₹ (43,700 + 5244)
= ₹ 48,944
(iii) Input CGST paid by shopkeeper = 6% of ₹ 40,000
= 6/100 × 40,000
= ₹ 2400
and SGST = 6% of ₹ 40000
= ₹ 2400
The shopkeeper sells the article to consumer = ₹ 43,700
∴ GST collected by shopkeeper = 12% of ₹ 43,700
= ₹ 5244
∴ Output CGST of shopkeeper = Output SGST = 6% 43,700 – (6/100 × 43,700)
= ₹ 2622
∴ Amount of tax (under GST) paid by retailer to Central Government = Output CGST – Input CGST
= ₹ 2622 - ₹ 2400
= ₹ 222
(iv) SGST paid by wholesaler = ₹ 2400 and SGST paid by shopkeeper = ₹ 222
12. A shopkeeper buys an article from a manufacturer for 12000 and marks up it price by 25%. The shopkeeper gives a discount of 5% on the balance to a customer of T.V. 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 T.V.
(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,
Answer
(i) C.P. of an article for shopkeeper= ₹ 12000
M.P. of article = ₹ (12000 + 25% of 12000)
= ₹ (12000 + 25/200 × 12000)
= ₹ 15000
Amount of discount given by shopkeeper = 10% of ₹ 15000
= (10/100 × 15000)
= ₹ 1500
Further, shopkeeper gives off season discount of 5% on balance – 5% of (15000 – 1500)
= 5/100 × 13500
= ₹ 675
∴ C.P. of T.V. for consumer = ₹(13500 – 675)
= ₹ 12825
Amount of GST paid by consumer =12% of ₹ 12825
= (12/100 × 12825)
= ₹ 1539
Thus, price inclusive of Tax (under GST) which the consumer pays for T.V. = ₹ (12825 – 1539)
= ₹ 14364
(ii) GST paid by shopkeeper to wholesaler :
CGST = SGST = 6% of 12000 – 6/100 × 12000 = ₹ 720
∴ Amount of input GST of the shopkeeper; (CGST - ₹ 720; SGST = ₹ 720)
GST paid by consume to shopkeeper:
CGST = SGST = 6% of 12825
= (6/100 × 12825)
= ₹ 769.50
∴ Amount of output GST of the shopkeeper : CGST = 769.50 and SGST = 769.50
∴ The amount of Tax (under GST) paid by shopkeeper to State Government = Output SGST – Input SGST = ₹ (769.50 – 720)
= ₹ 49.50
(iii) CGST paid by manufacturer = ₹ 720
CGST paid by shopkeeper = ₹ (769.50 – 720)
= ₹ 49.50
∴ The amount of tax(under GST) received by Central Government = ₹ (720 + 49.50)
= ₹ 769.50
13. The printed price of an article is 40000. A wholesaler in Uttar Pradesh buys the article from the manufacturer in Gujarat at a discount of 10% on the printed price. The wholesaler …….. the article to a retailer in Himachal at 5% above the printed price. If the ate of GST on the article to 18%, find:
(i) the amount inclusive of tax (under GST) paid by the wholesaler for the article.
(ii) the amount inclusive of tax (under GST) paid by the retailer for the article.
(iii) the amount of tax (under GST) paid by the wholesaler to the Central Government.
(iv) the amount of tax (under GST) received by the Central Government.
Answer
Given printed price of an article = ₹ 40000; Rate of GST = 18%
Hence both given sales from manufacturer to wholesaler and wholesaler to retailer are inter-state
∴ CGST = SGST = 0
∴ GST = IGST
Discount given by manufacturer = 01% of ₹ 40000
= ₹ (10/100 × 40000)
= ₹ 4000
∴ Cost price of article for wholesaler = ₹ (40000 – 4000)
= ₹ 36000
The C.P. of article without tax for retailer = ₹ 40000 + 5% of ₹ 40000
= ₹ (40000 + 5/100 × 40000)
= ₹ 42,000
(i) Amount of IGST (GST) paid by wholesaler to manufacturer = 18% of ₹ 36000
= ₹ (18/100 × 36000)
= ₹ 6480
∴ Amount inclusive of tax paid by wholesaler for the article = ₹ (36000 + 6480)
= ₹ 42480
(ii) Amount of GST paid by retailer to wholesaler = 18% of ₹ 42000
= ₹ (18/100 × 42000)
= ₹ 7650
∴ Amount inclusive of tax paid by retailer for the article = ₹ (42000 + 7560)
= ₹ 49560
(iii) Amount of GST paid by wholesaler to manufacturer = 18% of ₹ 36000
= ₹ 6480
Amount of GST collected by wholesaler or paid by retailer = 18% of ₹ 42000
= ₹ 7560
∴ required amount of tax (under GST) paid by wholesaler to Central Government = Output IGST – Input IGST
= ₹ (7560 – 6480)
= ₹ 1080
IGST paid by wholesaler to Central Government = ₹ 1080
IGST paid by manufacturer = ₹ 6480
∴ Total tax (under GST) received by Central Government = ₹ (1080 + 6480)
= ₹ 7560
14. A dealer in Delhi buys an article for 16000 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) in 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 pay for the article.
Answer :
SP of dealer = 16000+ 16000 × 25/100
= 16000 + 4000
= 20000
(i) CGST paid by the wholesaler to Governments.
Output tax – Input tax
= 20000 × 2.5/100 – 1600 × 2.5/100
= 400
SGST paid by the wholesaler to Governments
= Output tax - Input tax
= 20000 × 2.5/100 - 16000 × 2.5/100
= 400
(ii) CGST paid by the wholesaler to Governments.
= Output tax – Input Tax
= 20000 × 2.5/100 – 16000 × 2.5/100
= 200 IGST to central government
(iii) the amount which the consumer pay for the article.
= SP + Tax
= 20000 + 20000 × 5/100
= 21000
15. A shopkeeper in Delhi buys an article at the printed price of 24000 from a wholesaler in Mumbai. The shopkeeper sells the article to a customer in Delhi at a profit of 15% on the basic cost price. If the rate of GST is 12%, find:
(i) the price inclusive of tax (under GST) at which the shopkeeper bought the article.
(ii) the amount which the consumer pays for the article.
(iii) the amount of tax (under GST) received by the State Government of Delhi.
(iv) the amount of tax (under GST) received by the Central Government.
Answer:
(i) C.P. of an article for shopkeeper = ₹ 24000;
Rate of GST = 12%
As the shopkeeper buys an article from a wholesaler in Mumbai
IGST collected by wholesaler from shopkeeper = 12% of ₹ 24000
= 12/100 × 24000
= ₹ 2880
The price of an article at which shopkeeper bought = Cost price of an article for shopkeeper + IGST paid by the shopkeeper to wholesaler = ₹ 24000 + ₹ 2880
= ₹ 26880
(ii) C.P. of an article for shopkeeper = ₹ 24000
Profit on the C.P. of an article = 15% of C.P.
S.P. of an article by the shopkeeper to consumer = C.P. + Profit
= ₹ 24000 + 15% of ₹ 24000
= ₹ 24000 + ₹ (15/100 × 24000)
= ₹ 24000 + ₹ 3600
= ₹ 27600
Amount paid by customer for an article = C.P. of an article for consumer + GST paid by the consumer = C.P. + CGST paid by consumer + SGST paid by he consumer
= ₹ 27600 + ₹ (6/100 × 27600) + ₹ (6/100 × 27600)
= ₹ 27600 + ₹ 1656 + ₹ 1656
= ₹ 30912
(iii) Amount of input IGST for shopkeeper = ₹ 2880
The shopkeeper sells an article to consumer at the profit of 15% on the basic C.P. of an article.
∴ S.P. of an article to consumer = C.P. of an article for shopkeeper + Profit on Basic cost price
= ₹ 24000 + 15% of ₹ 24000
= ₹ 24000 + ₹ (15/100 × 24000)
= ₹ 24000 + ₹ 3600 - ₹ 27600
As the shopkeeper sells an article to consumer in Delhi; so this sales is Intra-state sales.
Amount of GST collected by shopkeeper from consumer;
CGST – SGST
= 6% of ₹ 27600
= 6/100 × 27000
= ₹ 1656
Amount of output GST of shopkeeper = CGST= ₹ 1656 and SGST = ₹ 1656
Amount of tax paid by the shopkeeper to State Govt. = First set off ₹ 2800 input IGST against ₹ 1656 output IGST
Then Set off the balance ₹ 1224 (₹ 2880 - ₹ 1656) Input IGST against output SGST
∴ SGST paid by the shopkeeper to the State Government (Delhi) = Output SGST – Balance of input IGST = ₹ 1656 - ₹ 1224
= ₹ 432
(iv) Amount of Tax received by the Central Govt. = IGST received from wholesaler + CGST received from shopkeeper = ₹ 2880 + NIL
= ₹ 2880
16. A dealer in Maharashtra buys an article from a wholesaler in discount of 25%, the printed price of the article being ₹20000. 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 of Governments.
(ii) the tax (under GST) paid by the dealer to the Governments.
(iii) the amount which the consumer pays fro the article.
Answer:
(i) the tax (under GST)paid by the wholesaler to Governments.
SGST paid by the wholesaler to Governments.
= 15000 × 6/100
= 900 to Maharashtra Govt.
CGST paid by the wholesaler to Governments
= 15000 × 6/100
= 900 to Maharashtra Govt.
(ii) the tax (under GST) paid by the dealer to the Government
Now sells are inter state hence all tax to central govt
CGST = Output – Input
= 18000 × 12/100 – 15000 × 12/100
= 360 IGST to Central Govt.
(iii) the amount which the consumer pays for the article.
= SP of dealer + Tax
= 18000 + 18000 × 12/100
= 18000 + 2160
= 20160
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.
Answer :
Let MP be = x
Discount value = (x × 10)/100
= x/10
So SP = MP – Dis. Value
= x – x/10
= 9x/10
And tax value = SP × tax%
= 9x/10 × 18/100
= 162x/1000
Hence amount = SP + tax value
= 9x/10 + 162x/1000
= (900x + 162x)/1000
= 1062x/1000
But Amount = 5310 given
1062x/1000 = 5310
x = (5310 × 1000)/1062
= 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 a tax (under GST) of 72 to the State Government, find the rate of discount at which he bought the article from the wholesaler.
Answer:
Given list price of an article = ₹ 8000
Let the rate of discount given by wholesaler = x%
Discount given by wholesaler = x% of ₹ 8000 = (x/100 × 8000)
= ₹ 80x
Thus, C.P. of the article for shopkeeper = ₹ (8000 - 80x)
Further given C.P. of article for consumer = ₹ 8000
Since the sales are intra state and rate of GST = 18%
CGST = SGST = 9%
Amount of GST paid by shopkeeper to wholesaler:
SGST = CGST = 9% of ₹ (8000 – 80x)
= 9/100 (8000 - 80x)
Amount of input GST of shopkeeper: CGST = SGST = 9/100 (8000 – 80x)
Amount of GST paid by consumer to shopkeeper:
CGST = SGST= 9% of 8000
= (9/100 × 8000)
= ₹ 720
Amount of output GST of shopkeeper CGST = SGST = ₹ 720
Thus, tax paid by shopkeeper to State Government = Output SGST – Input SGST
= 720 – 9/100 (8000 – 80x)
Also tax paid by shopkeeper to State Government = ₹ 72
72 – 720 – (9 × 80)/100 (100 – x)
⇒ 720 – 72 = 720/100(100 – x)
⇒ 648 = 72/10(100 – x)
100 – x = (648 × 10)/72 = 90
⇒ x = 100 – 90 = 10
Required rate of discount = 10%
Multiple Choice Questions
A retailer purchases a fan for Rs 1500 from a wholesaler and sells to a consumer at 10% profit. If the sales are intra-state and the rate of GST is 12%, then choose the correct answer from the given four options for questions 1 to 6:
1. The selling price of the fan by the retailer (excluding tax) is ?
(a) Rs 1500
(b) Rs 1650
(c) Rs 1848
(d) Rs 1800
Answer
2. The selling price of an fan including tax (under GST) by retailer is?
(a) Rs 1650
(b) Rs 1800
(c) Rs 1848
(d) Rs 1830
Answer
(c) Rs 1848
Given, GST (rate) = 12%
3. The tax (under GST) paid by the wholesaler to the Central Government is?
(a) Rs 90
(b) Rs 9
(c) Rs 99
(d) 180
Answer
(a) Rs 90
The tax (under GST) paid by wholesaler to Central Government
4. The tax (under GST) paid by the retailer to the State Government?
(a) Rs 99
(b) Rs 9
(c) Rs 18
(d) Rs 198
Answer
(b) ₹9
Amount of input SGST of the retailer = 6% of ₹ 1500
5. The tax (under GST) received by the Central Government is ?
(a) Rs 18
(b) Rs 198
(c) Rs 90
(d) Rs 99
Answer
(d) Rs 99
Amount of CGST paid by the retailer = Output CGST – Input CGST
= ₹ (99-90) = ₹9
Thus, amount of tax (under GST) received by Central Government
= CGST paid by distributor + CGST paid by retailer
= (6% of ₹1500) + 9
= 90 + 9 = ₹99
6. The cost of the fan to the consumer inclusive of tax is?
(a) Rs 1650
(b) Rs 1800
(c) Rs 1830
(d) Rs 1848
Answer
(d) Rs 1848
Here, selling price of fan = ₹1650
GST on fan = 12% of ₹1650
7. A shopkeeper bought a TV front a distributor at a discount of 25% of the listed price of Rs 32000. The shopkeeper sells the TV to a consumer at the listed price. If the sales are intra-state and the rate of GST is 18%, then choose the correct from the given four options for questions 7 to 11:
The selling price of the TV including tax (under GST) by the distributor is?
(a) Rs 32000
(b) Rs 24000
(c) Rs 28320
(d) Rs 26160
Answer
(b) Rs 24000
Given, listed price of TV by the distributor = ₹32000
Rate of discount = 25%
8. The tax (under GST) paid by the distributor to the State Government is
(a) Rs 4320
(b) Rs 2160
(c) Rs 2880
(d) Rs 720
Solution
(b) ₹2160
Tax (under GST) paid by distributor to the State Government
= SGST = 9% of ₹24000
9. The tax (under GST) paid by the shopkeeper to the Central Government is?
(a) Rs 720
(b) Rs 1440
(c) Rs 2880
(d) Rs 2160
Answer:
(a) 720
Amount of input CGST by the shopkeeper,
CGST = ₹2160, SGST = ₹2160
Amount of GST collected by the shopkeeper or paid by the consumer
= 18% of ₹32000
SGST = 5760/2 = ₹2880 = CGST
Amount of CGST paid by shopkeeper to Central Government = Output CGST – Input CGST
= 2880-2160 = ₹720
10. The tax (under GST) received by the State Government is?
(a) Rs 5760
(b) Rs 4320
(c) Rs 1440
(d) Rs 2880
Answer:
(d) ₹2880
Amount of SGST paid by Shopkeeper to state government = ₹ 720
∴ Total tax (under GST) received by State Government = ₹2160 +₹720 = ₹2880
11. The price including tax (under GST) of the T.V. paid by the consumer is
(a) Rs 28320
(b) Rs 37760
(c) Rs 34880
(d) Rs 32000
Answer
(d) Rs 32000
The price including tax (under GST) of the TV paid by the customer is ₹32000.
Chapter Test
1. A shopkeeper bought a washing machine at a discount of 20% from a wholesaler the printed price the washing machine being ₹15000. The shopkeeper sells it to a consumer at a discount of 10% on the printed price. If the sales are intra-state and the rate of GST is 12%, find:
(i) the price inclusive of tax (under GST) at which the shopkeeper bought the machine
(ii) the price which the consumer pays for the machine.
(iii) the tax (under GST) paid by wholesaler to the State Government
(iv) the tax (under GST) paid by the shopkeeper to the state Government
(v) the tax (under GST) received by the Central Government.
Answer
Printed Price of the washing machine = ₹18000
Discount rate = 20 %
Discount = (20/100) × ₹18000
= ₹3600
So, the selling price of the washing machine = ₹18000 – ₹3600 = ₹14400
The rate of GST = 12%
The taxes (under GST) for the purchase are
SGST = ₹14400 × (12/2)/100 = ₹864
CGST = ₹14400 × (12/2)/100 = ₹864
(i) Hence, the shopkeeper bought the machine at the price = ₹14400 + ₹864 + ₹864 =₹16128
(iii) The tax (under GST) paid by wholesaler to State Government = ₹864
Now,
The machine is sold to a consumer at 10% discount of the printed rice
Discount = (10/100) × ₹18000
= ₹1800
So, the selling price for the shopkeeper = ₹18000 – ₹1800 = ₹16200
The taxes (under GST) for the purchase are
SGST = ₹16200 × (12/2)/100 = ₹972
CGST = ₹16200 × (12/2)/100 = ₹972
(ii) Thus, the consumer paid a price = ₹16200 + ₹972 + ₹972 = ₹18144
Now,
(iv) The tax (under GST) paid by shopkeeper to State Government = ₹972 – ₹864 = ₹108
And,
(v) The tax (under GST) received by the central Govt = ₹972
2. A manufacturer listed the price of his goods at ₹1600 per article. He allowed a discount of 25% to a wholesaler who in turn allowed a discount of 20% on the listed price to a retailer. The retailer sells one article to a consumer at a discount of 5% on the listed price. If the sales are intrastate and the rate of GST is 5%, find:
(i) the price per article inclusive of tax (under GST) which the wholesaler pays.
(ii) the price per article inclusive of tax (under GST) which the retailer pays.
(iii) the amount which the consumer pays for the article
(iv) the tax (under GST) paid by the wholesaler to the State Government for the article.
(v) the tax (under GST) paid by the retailer to the Central Government for the article.
(vi) the tax (under GST) received by the State Government.
Solution:
(i) The listed price per article = ₹1600
Discount rate from the manufacture = 25%
Discount = (25/100) × ₹1600 = ₹400
So, the selling price per article to the wholesaler = listed price – discount
= ₹1600 – ₹400
= ₹1200
The rate of GST = 5%
GST = 5% of ₹1200
= (5/100) × ₹1200
= ₹60
Thus, the price per article inclusive of tax (under GST) which the wholesaler pays = selling price of the manufacture + GST
= ₹1200 + ₹60 = ₹1260
(ii) The wholesaler resells at a discount of 20% on the listed price per article to the retailer
Discount = (20/100) × ₹1600
= ₹320
So, the selling price of the wholesaler = listed price – discount
= ₹1600 – ₹320
= ₹1280
The rate of GST = 5%
GST = 5% of ₹1280
= (5/100) × ₹1280 = ₹64
Thus, the price per article inclusive of tax (under GST) which the retailer pays = selling price of the wholesaler + GST
= ₹1280 + ₹64 = ₹1344
(iii) Further, the retailer resells at a discount of 5% on the listed per article to the consumer
Discount = (5/100) × ₹1600
= ₹80
So, the selling price of the wholesaler = listed price – discount
= ₹1600 – ₹80 = ₹1520
The rate of GST = 5%
GST = 5% of ₹1520
= (5/100) × ₹1520 = ₹76
Thus, the price per article inclusive of tax (under GST) which the consumer pays = selling price of the retailer + GST
= ₹1520 + ₹76 = ₹1596
(iv) The tax (under GST) paid by the wholesaler to the State Government for the article = ₹(64 – 62)/2
= ₹4/2 = 2
(v) The tax (under GST) paid by the retailer to the Central Government for the article = ₹ (76 – 84)/2
= ₹12/2 = ₹6
(vi) The tax (under GST) received by the State Government = ₹76/2 = ₹38
3. Mukherjee purchased a movie camera for Rs 25488 which includes 10% rebate on the list price and 18% tax (under GST) on the remaining price. Find the marked price of the camera.
Answer
Let the marked price of movie camera = ₹ x
Given rate of rebate on M.P. = 10%
∴ C.P. of camera without GST = ₹(x – 10% of x)
= ₹ (x – x/10)
= ₹ 9x/10
Rate of GST = 18%
∴ Amount of GST on C.P. = (18% of 9x/20)
= 18/100 × 9x/10
∴ C.P. of movie including GST = 9x/10 (1 +18/100)
= 118/100 × 9x/10
Also C.P. of movie camera including all tax and rebate = ₹ 25488
∴ 118/100 × 9x/10
= 25488
⇒ x = (25488 × 10 × 100)/(9 × 118)
⇒ x = 24000
Hence, the required marked price of movie camera = ₹ 24000
4. The marked Price of an article is Rs 7500. A shopkeeper buys the article from a wholesaler at some discount and sells to a consumer at the marked price. The sales are intra-state and the rate of GST is 12%. If the shopkeeper pays Rs 90 as tax (under GST) to the State Government find;
(i) the amount of discount
(ii) the price inclusive tax (under GST) of the article which the shopkeeper paid to the wholesaler.
Answer
Given marked price of article = ₹ 7500
Let the required rate of discount given by wholesaler to shopkeeper be x%
∴ discount given by wholesaler = x% of 7500
= ₹ (7500 – 75x)
C.P. of article for consumer = ₹ 7500 and rate of GST = 12%
It is case of inter-state, rate of SGST = rate of CGST = 6% amount of GST paid by shopkeeper to wholesaler SGST = CGST = 6% of (7500 – 75x)
= 6/100 (7500 – 75x)
Amount of input GST of shopkeeper SGST = CGST = 6/100(7500 – 7x)
Amount of GST paid by consumer to shopkeeper SGST = CGST = 6% of 7500
= (6/100 × 7500)
= ₹ 450
∴ Amount of output GST of shopkeeper: SGST = CGST = ₹ 450
Tax paid by shopkeeper to State Government = Output SGST- Input SGST
(given) 90 = 450 – 6/100(7500 – 75x)
⇒ 90 = 450 – 450/100(100 – x)
⇒ 450/100(100 – x) = 450 – 90
⇒ 9/2 (100 – x) = 360
⇒ 100 – x = (360 × 2)/9
⇒ x = 100 – 80
= 20
∴ rate of discount = 20%
(ii) ∴ Amount of discount = 20% of 7500
= (20/100 × 7500)
= ₹ 1500
∴ C.P. of article for shopkeeper = ₹(7500 – 1500)
= ₹ 6000
Amount of GST paid by shopkeeper = 12% of ₹ 6000
= (12/100 × 6000)
= ₹ 720
Therefore, the price inclusive of tax (under GST) of the article which the shopkeeper paid to the wholesaler = ₹6000 + ₹720 = ₹6720
5. A retailer buys an article at a discount of 15% on the printed price front a wholesaler. He marks up the price by 10% on the printed price but due to competition in the mark. He allows a discount of 5% on the marked price to a buyer. If the rate of GST is 12%andthe buyer pays Rs. 468.16 for the article inclusive of tax (under GST). Find
Answer
(i) Let the printed price of the article = ₹ x
Discount given by wholesaler = 15% of ₹ x
= 15x/100
∴ C.P. of article for retailer = x – 15x/100
= 85x/100
= ₹ 17x/20
It is given that retailer, marked the price of article = x + 10% of x
= x + (10/100)x
= 11x/10
But discount given by retailer = (5% of 11x/10)
= 5/100 × 11x/10
= 11x/10
But discount given by retailer = (5% of 11x/10)
= 5/100 × 11x/10
= 11x/200
∴ C.P. of article for buyer = 11x/10 – 11x/200
= (220x – 11x)/200
= 209x/200
Given rate of GST = 12%
Thus, GST paid by buyer for an article = 12% of 209x/200
= 12/100 × 209x/200
∴ Buyer pays for the article inclusive of tax = 209x/200 + 12/100 × 209x/200
= 209x/200 × 112/100
Also given buyer pays for article inclusive of tax = ₹ 468.16
∴ 209x/200 ×112/100
= 468.16
∴ 209x/200 × 112/100 = 468.16
⇒ x = (46816 × 100 × 200)/(100 × 112 × 209) = 400
Hence, the printed price of article = ₹ 400
(ii) C.P. of article for retailer = ₹ (17/20 × 400)
= ₹ 340
S.P. of article for retailer = C.P. of article for buyer = 209/200 × 400
= ₹ 418
∴ Profit of retailer = S.P. - C.P. = ₹(418 – 340)
= ₹ 78
And profit % = profit/C.P. × 100
= 78/340 × 100
= 390/17
= 22.(16/17)%
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