Maharashtra Board Solutions for Chapter: Financial Planning, Exercise 2: Practice Set

'Chetana Store' paid total GST of $₹ 1,00,500$ at the time of purchase and collected GST$₹ 1,22,500$ at the time of sale during $1^{st}$ of July 2017 to ${31}^{\text{st }}$ July 2017. Find the GST payable by Chetana Stores.

Nazama is a proprietor of a firm, registered under GST. She has paid GST of $₹12,500$ on purchase and
collected$₹14,750$  on sale. What is the amount of GST payable?

Amir Enterprise purchased chocolate sauce bottles and paid GST of Rs 3800. He sold those bottles to Akbari Bros and collected GST of Rs 4100. Mayank Food Corner purchased these bottles from Akabari Bros and paid GST of Rs 4500. Find the amount of GST payable at every stage of trading and hence find payable $\mathrm{CGST}$ and SGST.

Malik Gas Agency (Chandigarh Union Territory) purchased some gas cylinders for industrial use for Rs 24,500 and sold them to the local customers for Rs 26,500. Find the GST to be paid at the rate of  $5\%$ and hence the CGST and UTGST to be paid for this transaction. (for Union Territories there is UTGST instead of SGST)

Beauty Products paid $18\%$ GST on cosmetics worth $₹6000$ and sold to a customer for $₹10,000$. What are the amounts of $\mathrm{CGST}$ and $\mathrm{SGST}$ shown in the tax invoice issued?

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 :- - - Address- - - - State - - - - - Date - - - -
Invoice No. - - - - GSTIN - - - - - - - -
Particulars - Rate of Mobile Battery - ₹ 200 Rate of GST 12\% HSN 8507, 1 pc.
Rate of Headphone - $₹ 750$ Rate of GST $18\%$ HSN 8518,1 pc.

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:
 Pencil boxes $100,$ HSN - $3924,$ Rate $-₹20,$ GST$12\%$
 Jigsaw Puzzles 50, HSN 9503, Rate - $₹100$ GST $12\%$