Goods and Services Tax (GST)

IMPORTANT

Goods and Services Tax (GST): Overview

This topic helps us understand the basic meaning of goods and services tax (GST). It discusses important terms related to GST. It also helps us to learn different types of taxes used in GST. Further, it discusses the advantages and objectives of GST.

Important Questions on Goods and Services Tax (GST)

HARD
IMPORTANT

A washing machine dealer sells a washing machine to a customer in such a way that the discount % becomes equal to the GST % . If the marked price of washing machine is 24000 and the discount offered on it 4320, what is the SGST being paid for the machine?

EASY
IMPORTANT

The rate of G.S.T on stainless steel utensils is 18%, then the rate of Central G.S.T is _____.

MEDIUM
IMPORTANT

A shopkeeper buys an article whose list price is 1500 from a wholesaler at a discount of 10%. If the rate of GST is 12%, find the price of the item inclusive of GST at which the shopkeeper bought it.

MEDIUM
IMPORTANT

Arun goes to a shop to buy a table which costs 1770 (list price). The rate of GST is 18%. He tells the shopkeeper to reduce the price to such an extent that he has to pay 1770, inclusive of GST. Find the reduction needed in the price of the table in .

MEDIUM
IMPORTANT

A readymade garment shopkeeper gives 5% discount on a dress of 2,000and charges 5% GST on the remaining amount. If the purchase price of the dress for the customer is k, find k.

EASY
IMPORTANT

‘Pawan Medicals’ supplies medicines. On some medicines the rate of GST is 12%.Find difference in the rate of CGST and SGST [in %].

EASY
IMPORTANT

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

EASY
IMPORTANT

The list price of a computer is Rs 40,000. The manufacturing company sells it to a dealer at a discount at 12.5%. The dealer sells it to a consumer at a profit of Rs 2,400. If the rate of tax (GST) on the computer is 5%. Find  the GST paid by the company.

EASY
IMPORTANT

Which country was first to implemented GST ?

EASY
IMPORTANT

Which of the following options correctly defines Goods and Services Tax.