MEDIUM
Earn 100

The marked price of the T.V. is 5000. A wholesaler sells it to a dealer at 10% discount. The dealer further sells the T.V. to a customer at discount of 5% on the marked price. If the rate of GST at each stage is 18%, find the amount in  of tax (under GST) paid by the dealer to the government.

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Important Questions on Value Added Tax

EASY
‘Pawan Medicals’ supplies medicines. On some medicines the rate of GST is 12%, then what is the rate of CGST and SGST?
MEDIUM
A readymade garment shopkeeper gives 5% discount on a dress of 2,000 and charges 5% GST on the remaining amount. What is the purchase price (in ) of the dress for the customer?
HARD
The cost function Cx=125+500x-x2+x3/3,0x100 and the demand function for the items is given by, px=1500-x, then the marginal profit when 18 items are sold is
MEDIUM

Mr. Bedi visits the market and buys the following articles:

Medicines costing 950, GST @ 5%
A pair of shoes costing 3000, GST @ 18%
A Laptop bag costing 1000 with a discount of 30%, GST @ 18%.

If the total bill amount including GST paid by Mr. Bedi is k, then find the value of k.

EASY

What will be education cess at the rate of 3% if taxable income is 3,000?

HARD

The income of a government employee in financial year 2013-2014 was 4,10,000. She deposited 24,000 as yearly premium on life insurance policy, 4,000 every month in General Provident Fund and she also purchased a national savings certificate worth 25,000. If a maximum of Rs. one lakh can be invested in any type of saving to qualify for tax rebate, then calculate the payable tax.

The rates of tax are as follows:

Sl.No. Tax Limits Rate of Tax 
1 Up to 2,00,000 NIL
2 2,00,001 to 5,00,000 10%
3 5,00,001 to 10,00,000 20%

In addition, a 3% education cess has to be paid over the income tax. Find your answer in 

EASY
In the format of GSTIN there are _____ alpha-numerals.
EASY

Educational cess at the rate of 3% on given taxable amount 2000 will be:

MEDIUM

The income of a government employee in financial year 2013-2014 was 3,60,000. He deposited 20,000 as yearly premium on life insurance policy and 4,000 every month in General Provident Fund. If a maximum of 1,00,000 can be invested in any type of saving to qualify tax rebate, then calculate the payable income tax.

The rate of tax are as follows:

SL.No. Tax limits Rate of tax
1. Up to 2,00,000 Nill
2. 2,00,001 to 5,00,000 10%
3. 5,00,001 to 10,00,000 20%

In addition, a 3% education cess has to be paid over the income tax. Find your answer in 

MEDIUM

Mr. Bedi visits the market and buys the following articles:

Medicines costing 950, GST @ 5%
A pair of shoes costing 3000, GST @ 18%
A Laptop bag costing 1000 with a discount of 30%, GST @ 18%.

Calculate: The total bill amount including GST paid by Mr. Bedi.

MEDIUM
'Tiptop Electronics' supplied an AC of 1.5 ton to a company. Cost of the AC supplied is  51,200 (with GST). Rate of CGST on AC is 14%. If the total amount of GST is k, find k.
EASY
Prasad purchased a washing-machine from 'Maharashtra Electronic Goods'. The discount of 5% was given on the printed price of Rs40,000. Rate of GST charged was 28%. If the amount of CGST and SGST shown in the tax invoice are k each, then find the value of k.
MEDIUM

Compute the income tax payable by following individual.

Miss Varsha (Age 26 years) has a taxable income of 2,30,000.

EASY

Ramesh paid Rs 435.60 as tax an a purchase of Rs 3,840. Find the tax of rate.

EASY
'Tiptop Electronics' supplied an AC of 1.5 ton to a company. Cost of the AC supplied is  51,200 (with G.S.T). Rate of C.G.S.T on AC is 14%. Then the taxable value of an AC as shown in the tax invoice of Tiptop Electronics is k. Find the value of k.
 
MEDIUM

Mr. Khan is 65 years of age and his taxable income is 4,50,000. If the income tax payable by him is k, then find the value of k.

MEDIUM
Beauty Products paid 18% GST on cosmetics worth 6000 and sold to a customer for 10,000. What are the amounts of CGST and SGST shown in the tax invoice issued?
HARD
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)
HARD

The price of a T.V. set exclusive of tax at 9% is  13,407. Find its marked price, if tax is increases to 13%,  how much more does the customer has to pay for the  T.V.?

EASY

Rajat purchase a wrist-watch costing Rs 540. The rate at tax  8%, find the total amount paid by Rajat for the watch.