Tag: gst (goods and service tax)

Questions Related to gst (goods and service tax)

In the format of GSTIN, how many alpha-numerals are present?

maths gst (goods and service tax) more about gst commission, brokerage and vat taxation, calculation of income tax

  1. $15$

  2. $10$

  3. $16$

  4. $9$

Show answer
Correct Option: A
Explanation:

Every taxpayer is assigned a state-wise PAN-based Goods and Services Taxpayer Identification Number (GSTIN), which has 15 alpha-numerical present.

Rate of GST on brokerage is:

maths gst (goods and service tax) more about gst commission, brokerage and vat taxation, calculation of income tax

  1. $5\%$

  2. $12\%$

  3. $18\%$

  4. $28\%$

Show answer
Correct Option: C
Explanation:

Brokerage is a service and comes under the provision of GST. There is 18% GST rate on brokerage on transaction value.

To find the cost of one share at the time of buying the amount of Brokerage and GST is to be _______ the MV of share.

maths gst (goods and service tax) more about gst commission, brokerage and vat taxation, calculation of income tax

  1. added to

  2. subtracted from

  3. multiplied with

  4. divided by

Show answer
Correct Option: A
Explanation:

Cost of Share $=$ Market Value of Share $+$ Amount of Brokerage & GST

Rate of GST on essential commodities is:

maths gst (goods and service tax) more about gst commission, brokerage and vat taxation, calculation of income tax

  1. $5\%$

  2. $12\%$

  3. $0\%$

  4. $18\%$

Show answer
Correct Option: C
Explanation:

Items such as unbranded atta/maida/besan, unpacked food grains, milk, eggs, curd, lassi, fresh vegetables and contraceptives, come under the category of essential commodities used by common man, and are exempted from GST($0\%$).

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

maths gst (goods and service tax) more about gst commission, brokerage and vat taxation, calculation of income tax

  1. $15$

  2. $10$

  3. $16$

  4. $9$

Show answer
Correct Option: A
Explanation:

GSTIN contains 2 digits of state code, followed by 10 alpha-numeric characters of owner's PAN number, then State registration number and letter Z, last digit or alphabet is the checksum. So in total there are 15 alpha-numerals. 

To find the cost of one share at the time of buying the amount of Brokerage and GST is to be ____ the MV of share.

maths gst (goods and service tax) more about gst commission, brokerage and vat taxation, calculation of income tax

  1. Added to

  2. Substracted from

  3. Multiplied with

  4. Divided by

Show answer
Correct Option: A
Explanation:

Cost of share $=$ (Brokerage $+$ GST $+$ MV of share)

An article was purchased for $Rs. 1239$ including GST of $18\%$. Find the price of the article before GST was added

maths gst (goods and service tax) more about gst commission, brokerage and vat taxation, calculation of income tax

  1. Rs. $1050$

  2. Rs. $1100$

  3. Rs. $1150$

  4. Rs. $1200$

Show answer
Correct Option: A
Explanation:

Given:

$GST=18\%$

Now   $118\%$ of $x=1239$

$\dfrac{118x}{100}=1239$

$x=\dfrac{123900}{118}$

$x=1050Rs$

The price of the article before GST was added $=1050Rs$

Rajeev buys good worth $Rs.6650$. He gets a rebate of $6$% on it. After getting the rebate, he pays sales tax@ $10$%. Find the amount he will have to pay for the goods.

maths gst (goods and service tax) more about gst commission, brokerage and vat taxation, calculation of income tax

  1. $6876.10$

  2. $6999.20$

  3. $6654$

  4. $7000$

Show answer
Correct Option: A
Explanation:

Rebate$=6\%, MP=Rs.6650$


$SP=94\%\times 6650=Rs.6251$


Sales tax$=10\%$

Total amount Rajeev pays$=10\%\times 6251 +  6251=Rs. (625.1  + 6251 ) =$ Rs.$6876.10$.

$6\%$ SGST was charged on the pen having cost Rs. $300$, then find the amount of CGST charged.

maths gst (goods and service tax) more about gst commission, brokerage and vat taxation, calculation of income tax

  1. Rs. $24$

  2. Rs. $12$

  3. Rs. $16$

  4. Rs. $18$

Show answer
Correct Option: D
Explanation:

Cost of Pen $=Rs. 300$


SGST $=6$% of $300$

$=\cfrac{6}{100}\times 300$

$=Rs. 18$

Since SGST $=$ CGST

$\Rightarrow $CGST $=Rs. 18$

Shyam purchases a scooter costing $Rs.36,450$ and the rate of sales tax is $9%$, then the total amount by her is:

maths gst (goods and service tax) more about gst commission, brokerage and vat taxation, calculation of income tax

  1. $Rs.36,490.50$

  2. $Rs.39,730.50$

  3. $Rs.36,454.50$

  4. $Rs.33,169.50$

Show answer
Correct Option: A