For the given trading chain prepare the tax invoice I , I I , I I I . GST at the rate of 12 % was charged for the article supplied. Prepare the statement of GST payable under each head by the wholesaler, distributor and retailer at the time of filing the return to the government.

GST in Tax Invoice - I of Wholesaler: Taxable value of article = ₹ 5000 . Rate of GST = 12 % . So, GST payable = 12 % of ₹ 5000 = ₹ 12 100 × 5000 = ₹ 600 . CGST payable = SGST payable = GST payable 2 = ₹ 600 2 = ₹ 300 . GST in Tax Invoice - II of Distributor: Taxable value of article = ₹ 6000 . Rate of G S T = 12 % . GST payable = Output tax - Input credit tax = 12 % of ₹ 6000 - 12 % of ₹ 5000 = 12 100 × ( 6000 - 5000 ) = 12 100 × 1000 = ₹ 120 . CGST payable = SGST payable = GST payable 2 = 120 2 = ₹ 60 . GST in Tax Invoice - III of Retailer: Taxable value of article = ₹ 6500 . Rate of GST = 12 % . GST payable = Output tax - Input credit tax = 12 % of ₹ 6500 - 12 % of ₹ 6 , 000 = 12 100 × ( 6500 - 6000 ) = 12 100 × 500 = ₹ 60 . CGST payable = SGST payable = GST payable 2 = 60 2 = ₹ 30 . The following table shows the statement of GST payable under each head by the wholesaler, distributor and retailer at the time of filing the return to the government: CGST payable SGST payable GST payable Wholesaler ₹ 300 ₹ 300 ₹ 600 Distributor ₹ 60 ₹ 60 ₹ 120 Retailer ₹ 30 ₹ 30 ₹ 60 Total tax ₹ 390 ₹ 390 ₹ 780 Amount paid by the consumer for the article = Taxable value of article to the retailer + GST payable by retailer = ₹ 6500 + ₹ 6500 × 12 % = ₹ 6500 + ₹ 6500 × 12 100 = ₹ 6500 + ₹ 780 = ₹ 7280 . Therefore, the amount is paid by the consumer at the end is ₹ 7280 .

Maharashtra Board Solutions for Chapter: Financial Planning, Exercise 5: Problem Set

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Maharashtra Board Mathematics Solutions for Exercise - Maharashtra Board Solutions for Chapter: Financial Planning, Exercise 5: Problem Set

Attempt the practice questions on Chapter 4: Financial Planning, Exercise 5: Problem Set with hints and solutions to strengthen your understanding. Algebra Standard X solutions are prepared by Experienced Embibe Experts.

Questions from Maharashtra Board Solutions for Chapter: Financial Planning, Exercise 5: Problem Set with Hints & Solutions

HARD

10th Maharashtra Board

IMPORTANT

Algebra Standard X>Chapter 4 - Financial Planning>Problem Set>Q 7

A dealer supplied Walky-Talky set of $₹ 84, 000$ (with GST) to police control room. Rate of GST is $12 % .$ Find the amount of state and central GST charged by the dealer.

MEDIUM

10th Maharashtra Board

IMPORTANT

Algebra Standard X>Chapter 4 - Financial Planning>Problem Set>Q 8

A wholesaler purchased electric goods for the taxable amount of $₹ 1, 50, 000 .$ He sold it to the retailer for the taxable amount of $₹ 1, 80, 000 .$ Retailer sold it to the customer for the taxable amount of $₹ 2, 20, 000 .$ Rate of GST is $18 % .$ Show the computation of GST in tax invoices of sales. Also find the payable CGST for wholesaler and retailer.

MEDIUM

10th Maharashtra Board

IMPORTANT

Algebra Standard X>Chapter 4 - Financial Planning>Problem Set>Q 9

Anna Patil (Thane, Maharashtra) supplied vacuum cleaner to a shopkeeper in Vasai (Mumbai) for the taxable value of $₹ 14, 000$ , and GST rate of $28 %$ . Shopkeeper sold it to the customer at the same GST rate for $₹ 16, 800$ (taxable value). If the amount of CGST and SGST shown in the tax invoice issued by Anna Patil is $₹ k$ , find $k$ .

MEDIUM

10th Maharashtra Board

IMPORTANT

Algebra Standard X>Chapter 4 - Financial Planning>Problem Set>Q 9

Anna Patil (Thane, Maharashtra) supplied vacuum cleaner to a shopkeeper in Vasai (Mumbai) for the taxable value of $₹ 14, 000,$ and GST rate of $28 % .$ Shopkeeper sold it to the customer at the same GST rate for $₹ 16, 800$ (taxable value) .Find the following - Amount of CGST and SGST charged by the shopkeeper in Vasai.

HARD

10th Maharashtra Board

IMPORTANT

Algebra Standard X>Chapter 4 - Financial Planning>Problem Set>Q 9

Anna Patil (Thane, Maharashtra) supplied vacuum cleaner to a shopkeeper in Vasai (Mumbai) for the taxable value of $₹ 14, 000,$ and GST rate of $28 % .$ Shopkeeper sold it to the customer at the same GST rate for $₹ 16, 800$ (taxable value). If the CGST and SGST payable by shopkeeper in Vasai at the time of filing the return is $₹ k$ , find $k$ .

HARD

10th Maharashtra Board

IMPORTANT

Algebra Standard X>Chapter 4 - Financial Planning>Problem Set>Q 10

For the given trading chain prepare the tax invoice $I, I I, I I I$ . GST at the rate of $12 %$ was charged for the article supplied.

Question Image

Prepare the statement of GST payable under each head by the wholesaler, distributor and retailer at the time of filing the return to the government.

HARD

10th Maharashtra Board

IMPORTANT

Algebra Standard X>Chapter 4 - Financial Planning>Problem Set>Q 10

For the given trading chain prepare the tax invoice $I, I I, I I I$ . GST at the rate of $12 %$ was charged for the article supplied.

Question Image

At the end what amount is paid by the consumer?

HARD

10th Maharashtra Board

IMPORTANT

Algebra Standard X>Chapter 4 - Financial Planning>Problem Set>Q 10

For the given trading chain prepare the tax invoice $I, I I, I I I$ I, II, III. GST at the rate of $12 %$ was charged for the article supplied.

Question Image

Write which of the invoices issued are $B 2 B$ and $B 2 C$ ?

Maharashtra Board Solutions for Chapter: Financial Planning, Exercise 5: Problem Set

Maharashtra Board Mathematics Solutions for Exercise - Maharashtra Board Solutions for Chapter: Financial Planning, Exercise 5: Problem Set

Questions from Maharashtra Board Solutions for Chapter: Financial Planning, Exercise 5: Problem Set with Hints & Solutions

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