Taxes on Sale of an Item

IMPORTANT

Taxes on Sale of an Item: Overview

This topic covers concepts, such as, Taxes on Sale of an Item as Per Cent, Sales Tax, Value Added Tax, Goods and Services Tax & Finding Tax Amount Given as Percentage etc.

Important Questions on Taxes on Sale of an Item

MEDIUM
IMPORTANT

List price of an article is ₹ 1050. If 6% sales tax is charged, then the bill amount is 1113

MEDIUM
IMPORTANT

S.P. of a video game is ₹ 749 including 7% VAT. The original price of a video game is

EASY
IMPORTANT

If 5% sales tax is added on the purchase of a towel at 50, then the buying price is k. Find the value of k.

HARD
IMPORTANT

A manufacturer sells an article to a wholesaler with marked price 2000 at a discount of 20% on the marked price. The wholesaler sells it to a retailer at a discount of 12% on the marked price. The retailer sells the article at the marked price. The VAT paid by the wholesaler is 11.20. If the VAT paid by the retailer is k, then find the value of k.

EASY
IMPORTANT

The price of a washing machine inclusive of sales tax is 13530. If the sales tax is 10%, find its basic price.

HARD
IMPORTANT

A shopkeeper bought a TV at a discount of 30% of the listed price of 24,000. The shopkeeper offers a discount of 10% of the listed price to his customer. If the VAT is 10%, findthe VAT to be paid by the shopkeeper.

MEDIUM
IMPORTANT

Rosy buys a camera for 3,402 which includes a rebate of 10% on the list price and then 8% sales Tex on the remaining price. Find the list price of the camera.

MEDIUM
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Ravi buys a motorcycle for 17,280 which includes sales tax. If the rate of sales tax is 8%, find the amount of sales tax that Ravi paid.

HARD
IMPORTANT

The VAT paid by a shopkeeper on the sale of an article is 36. He bought the article from the wholesaler at a discount of 25% on the printed price. If the rate of sales tax is 8%, then the printed price of the article is _____.

HARD
IMPORTANT

A shopkeeper bought a TV at a discount of 30% of the listed price of 24,000. The shopkeeper offers a discount of 10% of the listed price to his customer. If the VAT is 10%, then the amount paid by the customer is _____.

HARD
IMPORTANT

Ms. Chawla goes to a shop to buy a leather coat whose listed price is 735. The rate of sales tax is 5%. She asks the shopkeeper to reduce the price of the coat such that she has to pay only 735 inclusive of sales tax. The reduction needed in the price of the coat is _____.

HARD
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A shopkeeper buys a camera at a discount of 20% from the wholesaler, the printed price of the camera being 1600 and the rate of sales tax is 6%. The shopkeeper sells it to a buyer at the printed price and charges tax at the same rate. The price at which the camera can be bought is

HARD
IMPORTANT

A manufacturer fixed the price of an article at 250. The rate of sales tax on the article is 12%. A wholesaler bought it and sold the same to a shopkeeper at a profit of 10%. The shopkeeper sold the article to a consumer at a profit of 15%. The VAT paid by the wholesaler and the retailer together is _____.

HARD
IMPORTANT

A manufacturer fixed the price of an article at 250. The rate of sales tax on the article is 12%. A wholesaler bought it and sold the same to a shopkeeper at a profit of 10%. The shopkeeper sold the article to a consumer at a profit of 15%. The sum of money the consumer paid to buy the article is _____.

EASY
IMPORTANT

A shopkeeper bought an article at a discount of 20% from the wholesaler, the printed price of the article being Rs 1600. The shopkeeper sells it to a buyer at the printed price. The prescribed rate of sales tax on the article is 6%. The input tax, output tax and the VAT payable by the shopkeeper will be respectively

MEDIUM
IMPORTANT

The price of a black and white TV is 4840 inclusive of sales tax at the rate of 10% on its listed price. A buyer asks for a discount on the listed price so that after charging the sales tax the selling price becomes equal to the listed price. The amount of discount on the listed price that the seller has to allow for the deal is

HARD
IMPORTANT

A manufacturer sells an article to a wholesaler with marked price 2000 at a discount of 20% on the marked price. The wholesaler sells it to a retailer at a discount of 12% on the marked price. The retailer sells the article at the marked price. If the VAT paid by the wholesaler is 11.20, find the rate of VAT.

HARD
IMPORTANT

Radhika buys crockery having marked price 4,500. She gets a discount of 12%. If the CGST is 6%, find the amount she is required to pay for the crockery.

HARD
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Mrs. Lata has a leather coat manufacturer unit in state A. She buys raw materials worth 80,000 from a supplier from a state B at a discount of 10%. She sells her product worth2,20,000 outside the state. If the rate of CGST is 2.5%, find the IGST payable/credit. 

HARD
IMPORTANT

A shoe manufacturer purchase goods worth 90,000 from the market within the state he sells his product in the neighbouring market for 78,000 of the common GST is 18% find the GST payable​.