Financial Planning
Class 10th Mathematics Part 1 MHB Solution
- ‘Pawan Medical’ supplies medicines. On some medicines the rate of GST is 12%, then what…
- On certain article if rate of CGST is 9% then what is the rate of SGST? and what is the…
- ‘M/s. Real Paint’ sold 2 tins of lustre paint and taxable value of each tin is Rs.…
- The taxable value of a wrist watch belt is Rs. 586. Rate of GST is 18%. Then what is…
- The total value (with GST) of a remote-controlled toy car is Rs. 1770. Rate of GST is…
- ‘Tiptop Electronics’ supplied an AC of 1.5 ton to a company. Cost of the AC supplied is…
- Prasad purchased a washing-machine from 'Maharashtra Electronic Goods'. The discount of…
- 'Chetana Store' paid total GST of Rs. 1,00,500 at the time of purchase and collected…
- Nazama is a proprietor of a firm, registered under GST. She has paid GST of Rs. 12,500…
- Amir Enterprise purchased chocolate sauce bottles and paid GST of Rs. 3800. He sold…
- Malik Gas Agency (Chandigarh Union Territory) purchased some gas cylinders for…
- M/s Beauty Products paid 18% GST on cosmetics worth Rs. 6000 and sold to a customer for…
- Prepare Business to Consumer (B2C) tax invoice using given information. Write the name…
- Prepare Business to Business (B2B) Tax Invoice as per the details given below. name of…
- Complete the following table by writing suitable numbers and words.…
- Amol purchased 50 shares of Face Value Rs. 100 when the Market value of the share was…
- Joseph purchased following shares, Find his total investment. Company A : 200 shares,…
- Smt. Deshpande purchased shares of FV Rs. 5 at a premium of Rs. 20. How many shares…
- Shri Shantilal has purchased 150 shares of FV Rs. 100, for MV of Rs. 120. Company has…
- If the face value of both the shares is same, then which investment out of the…
- Market value of a share is Rs. 200. If the brokerage rate is 0.3% then find the…
- A share is sold for the market value of Rs. 1000. Brokerage is paid at the rate of…
- Fill in the blanks given in the contract note of sale-purchase of shares. (B - buy S -…
- Smt. Desai sold shares of face value Rs. 100 when the market value was Rs. 50 and…
- Mr. D'souza purchased 200 shares of FV Rs. 50 at a premium of Rs. 100. He received 50%…
- Rate of GST on essential commodities is . . . Write the correct alternative for each…
- The tax levied by the central government for trading within state is . . . Write the…
- GST system was introduced in our country from . . . Write the correct alternative for…
- The rate of GST on stainless steel utensils is 18%, then the rate of State GST is . .…
- In the format of GSTIN there are . . . alpha-numerals. Write the correct alternative…
- When a registered dealer sells goods to another registered dealer under GST, then this…
- A dealer has given 10% discount on a showpiece of Rs. 25,000. GST of 28% was charged on…
- A ready-made garment shopkeeper gives 5% discount on the dress of Rs. 1000 and charges…
- A trader from Surat, Gujarat sold cotton clothes to a trader in Rajkot, Gujarat. The…
- Smt. Malhotra purchased solar panels for the taxable value of Rs. 85,000. She sold them…
- A company provided Z-security services for the taxable value of Rs. 64,500. Rate of GST…
- A dealer supplied Walky-Talky set of Rs. 84,000 (with GST) to police control room. Rate…
- A wholesaler purchased electric goods for the taxable amount of Rs. 1,50,000. He sold…
- Anna Patil (Thane, Maharashtra) supplied vacuum cleaner to a shopkeeper in…
- For the given trading chain prepare the tax invoice I, II, III. GST at the rate of 12%…
- If the Face Value of a share is Rs. 100 and Market value is Rs. 75,then which of the…
- What is the amount of dividend received per share of face value Rs. 10 and dividend…
- The NAV of a unit in mutual fund scheme is Rs. 10.65 then find the amount required to…
- Rate of GST on brokerage is . . . Write the correct alternative for the following…
- To find the cost of one share at the time of buying the amount of Brokerage and GST is…
- Find the purchase price of a share of FV Rs. 100 if it is at premium of Rs. 30. The…
- Prashant bought 50 shares of FV Rs. 100, having MV Rs. 180. Company gave 40% dividend…
- Find the amount received when 300 shares of FV Rs. 100, were sold at a discount of Rs.…
- Find the number of shares received when Rs. 60,000 was invested in the shares of FV Rs.…
- Smt. Mita Agrawal invested Rs. 10,200 when MV of the share is Rs. 100. She sold 60…
- Market value of shares and dividend declared by the two companies is given below. Face…
- Shri. Aditya Sanghavi invested Rs. 50,118 in shares of FV Rs. 100, when the market…
- Shri. Batliwala sold shares of Rs. 30,350 and purchased shares of Rs. 69,650 in a day.…
- Smt. Aruna Thakkar purchased 100 shares of FV 100 when the MV is Rs. 1200. She paid…
- Smt. Anagha Doshi purchased 22 shares of FV Rs. 100 for Market Value of Rs. 660. Find…
Practice Set 4.1
Question 1.‘Pawan Medical’ supplies medicines. On some medicines the rate of GST is 12%, then what is the rate of CGST and SGST?
Answer:
We know that CGST and SGST are components of GST.
CGST is always equal to SGST
i.e. GST = CGST + SGST
Let CGST and SGST be x.
Then GST = x + x
⇒ 12 = 2x
⇒ x = 6%
Hence CGST, SGST = 6%
Question 2.
On certain article if rate of CGST is 9% then what is the rate of SGST? and what is the rate of GST?
Answer:
We know that CGST and SGST are components of GST.
CGST is always equal to SGST.
∴ CGST = SGST = 9%
We know that GST = CGST + SGST.
∴ GST = 9% + 9% = 18%
Question 3.
‘M/s. Real Paint’ sold 2 tins of lustre paint and taxable value of each tin is Rs. 2800. If the rate of GST is 28%, then find the amount of CGST and SGST charged in the tax invoice.
Answer:
Given rate of GST = 28%
The taxable value of 1 tin = Rs.2800
∴ Taxable value of 2 tins = Rs.5600
We know that CGST and SGST are components of GST.
CGST is always equal to SGST
i.e. GST = CGST + SGST
Let CGST and SGST be x.
Then GST = x + x
⇒ 28 = 2x
⇒ x = 14%
Hence CGST, SGST = 14%
We know that CGST = 
⇒ CGST = 
= Rs.784
∵ CGST = SGST
∴ SGST = Rs.784
Question 4.
The taxable value of a wrist watch belt is Rs. 586. Rate of GST is 18%. Then what is price of the belt for the customer?
Answer:
Given rate of GST = 18%
Taxable value of wrist watch belt = Rs.586
We know that CGST and SGST are components of GST.
CGST is always equal to SGST
i.e. GST = CGST + SGST
Let CGST and SGST be x.
Then GST = x + x
⇒ 18 = 2x
⇒ x = 9%
Hence CGST, SGST = 9%
We know that CGST =
⇒ CGST = 
= Rs.52.74
∵ CGST = SGST
∴ SGST = Rs.52.74
We know that price of a customer = Taxable value + CGST + SGST
∴ Price of belt for customer = 586 + 52.74 + 52.74
= 691.48
Question 5.
The total value (with GST) of a remote-controlled toy car is Rs. 1770. Rate of GST is 18% on toys. Find the taxable value, CGST and SGST for this toy-car.
Answer:
We know that Total Value (with GST) = Taxable Value + GST
Given total value (with GST) = Rs. 1770
Let taxable value = x
∴ 1770 = x + 18% of x
= 
= x + 0.18x
⇒ 1770 = 1.18x
⇒ x = 
= 1500
∴ x = Taxable Value = Rs. 1500
We know that CGST and SGST are components of GST.
CGST is always equal to SGST
i.e. GST = CGST + SGST
Let CGST and SGST be x.
Then GST = x + x
⇒ 18 = 2x
⇒ x = 9%
Hence CGST, SGST = 9%
We know that CGST =
⇒ CGST = 
= Rs. 135
∵ CGST = SGST
∴ SGST = Rs. 135
Question 6.
‘Tiptop Electronics’ supplied an AC of 1.5 ton to a company. Cost of the AC supplied is Rs. 51,200 (with GST). Rate of CGST on AC is 14%. Then find the following amounts as shown in the tax invoice of Tiptop Electronics.
(1) Rate of SGST
(2) Rate of GST on AC
(3) Taxable value of AC
(4) Total amount of GST
(5) Amount of CGST
(6) Amount of SGST
Answer:
Given rate of CGST of AC = 14%
(1) We know that CGST and SGST are components of GST.
CGST is always equal to SGST.
∴ SGST = 14%
(2) We know that GST = CGST + SGST.
GST = 14% + 14% = 28%
(3) We know that Total Value (with GST) = Taxable Value + GST
Given total value (with GST) = Rs. 51, 200
Let taxable value = x
∴ 51200 = x + 28% of x
= 
= x + 0.28x
⇒ 51200 = 1.28x
⇒ x = 
= 40000
∴ x = Taxable Value = Rs. 40, 000
(4) We know that total GST = GST of Taxable value
∴ GST = 28% of 40, 000
= 
= Rs. 11, 200
(5) We know that CGST and SGST are components of GST.
CGST is always equal to SGST
i.e. GST = CGST + SGST
Let CGST and SGST be x.
Then GST = x + x
⇒ 11200 = 2x
⇒ x = 5600
Hence CGST = Rs. 5600
(6) ∴ SGST = Rs. 5600
Question 7.
Prasad purchased a washing-machine from 'Maharashtra Electronic Goods'. The discount of 5% was given on the printed price of Rs. 40,000. Rate of GST charged was 28%. Find the purchase price of washing machine. Also find the amount of CGST and SGST shown in the tax invoice.
Answer:
Discount = 5% of 40, 000 = Rs. 2000
∴ Taxable value of washing machine = 40,000 – 2000 = Rs. 38, 000
Given, rate of GST = 28%
We know that CGST and SGST are components of GST.
CGST is always equal to SGST
i.e. GST = CGST + SGST
Let CGST and SGST be x.
Then GST = x + x
⇒ 28 = 2x
⇒ x = 14%
∴ CGST, SGST = 14%
∴ CGST = 14% of 38, 000 = Rs. 5320
∴ SGST = Rs. 5320
∴ Purchase price of washing machine = 38000 + 5320 + 5320
= Rs. 48, 640
Practice Set 4.2
Question 1.'Chetana Store' paid total GST of Rs. 1,00,500 at the time of purchase and collected GST Rs. 1,22,500 at the time of sale during 1st of July 2017 to 31st July 2017. Find the GST payable by Chetana Stores.
Answer:
Output Tax (tax collected at the time of sale) = Rs. 1,22,500
Input Tax (tax paid at the time of purchase) = Rs. 1,00,500
∴ Input Tax Credit, ITC = Rs. 1, 00, 500
We know that GST Payable = Output Tax – ITC
⇒ GST Payable by Chetana stores = 1, 22, 500 – 1, 00, 500
= Rs. 22, 000
Question 2.
Nazama is a proprietor of a firm, registered under GST. She has paid GST of Rs. 12,500 on purchase and collected Rs. 14,750 on sale. What is the amount of ITC to be claimed? What is the amount of GST payable?
Answer:
Output Tax (tax collected at the time of sale) = Rs. 14,750
Input Tax (tax paid at the time of purchase) = Rs. 12,500
∴ Input Tax Credit, ITC = Rs. 12, 500
We know that GST Payable = Output Tax – ITC
⇒ GST Payable = 14, 750 – 12, 500
= Rs. 2, 250
Question 3.
Amir Enterprise purchased chocolate sauce bottles and paid GST of Rs. 3800. He sold those bottles to Akbari Bros. and collected GST of Rs. 4100. Mayank Food Corner purchased these bottles from Akabari Bros and paid GST of Rs. 4500. Find the amount of GST payable at every stage of trading and hence find payable CGST and SGST.
Answer:
Amir Enterprise:
Input GST = Rs.3800
Output GST = Rs. 4100
∴ GST Payable = Output Tax – ITC
= 4100 – 3800 = Rs. 300
We know that CGST and SGST are components of GST.
CGST is always equal to SGST
i.e. GST = CGST + SGST
Let CGST and SGST be x.
Then GST = x + x
⇒ 300 = 2x
⇒ x = 150
∴ CGST, SGST = Rs. 150
Akbari Bros:
Input GST = Rs. 4100
Output GST = Rs. 4500
∴ GST Payable = Output Tax – ITC
= 4500 – 4100 = Rs. 400
We know that CGST and SGST are components of GST.
CGST is always equal to SGST
i.e. GST = CGST + SGST
Let CGST and SGST be x.
Then GST = x + x
⇒ 400 = 2x
⇒ x = 200
∴ CGST, SGST = Rs. 200
Question 4.
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.)
Answer:
Input Tax = 5% of 24,500
= Rs. 1225
Output Tax = 5% of 26, 500
= Rs. 1325
We know that GST Payable = Output Tax – ITC
∴ GST Payable = 1325 – 1225
= Rs. 100
We know that CGST and SGST are components of GST.
CGST is always equal to SGST
i.e. GST = CGST + UTGST
Let CGST and UTGST be x.
Then GST = x + x
⇒ 100 = 2x
⇒ x = 50
∴ CGST, UTGST = Rs. 50
Question 5.
M/s Beauty Products paid 18% GST on cosmetics worth Rs. 6000 and sold to a customer for Rs. 10,000. What are the amounts of CGST and SGST shown in the tax invoice issued?
Answer:
We know that CGST and SGST are components of GST.
CGST is always equal to SGST
i.e. GST = CGST + SGST
Let CGST and SGST be x.
Then GST = x + x
⇒ 18 = 2x
⇒ x = 9%
∴ CGST, SGST = 9%
CGST = 9% of 10, 000 = Rs. 900
∴ SGST = Rs. 900
Question 6.
Prepare Business to Consumer (B2C) tax invoice using given information. Write the name of the supplier, address, state, Date, invoice number, GSTIN etc. as per your choice. Supplier : M/s - - -- - Address- - - - - State - - - - - Date - - - - - - - Invoice No. - - - - - GSTIN - - - - - - - - - - - - - -
Particulars –
Rate of Mobile Battery - Rs. 200 Rate of GST 12% HSN 8507, 1 pc.
Rate of Headphone - Rs. 750 Rate of GST 18% HSN 8518, 1 pc.
Answer:
Mobile Battery:
Taxable Value = Rs. 200
We know that CGST and SGST are components of GST.
CGST is always equal to SGST
i.e. GST = CGST + SGST
Let CGST and SGST be x.
Then GST = x + x
⇒ 12 = 2x
⇒ x = 6%
Hence CGST, SGST = 6%
We know that CGST =
⇒ CGST = 
= Rs. 12
∵ CGST = SGST
∴ SGST = Rs. 12
We know that Total Value = Taxable value + CGST + SGST
∴ Total Value = 200 + 12 + 12 = Rs. 224
Headphone:
Taxable Value = Rs. 750
We know that CGST and SGST are components of GST.
CGST is always equal to SGST
i.e. GST = CGST + SGST
Let CGST and SGST be x.
Then GST = x + x
⇒ 18 = 2x
⇒ x = 9%
Hence CGST, SGST = 9%
We know that CGST =
⇒ CGST = 
= Rs. 67.5
∵ CGST = SGST
∴ SGST = Rs. 67.5
We know that Total Value = Taxable value + CGST + SGST
∴ Total Value = 750 + 67.5 + 67.5 = Rs. 885
Question 7.
Prepare Business to Business (B2B) Tax Invoice as per the details given below. name of the supplier, address, Date etc. as per your choice.
Supplier - Name, Address, State, GSTIN, Invoice No., Date
Recipient - Name, Address, State, GSTIN,
Items :
(1) Pencil boxes 100, HSN - 3924, Rate - Rs. 20, GST 12%
(2) Jigsaw Puzzles 50, HSN 9503, Rate - Rs. 100 GST 12%.
Answer:
Pencil Box:
Taxable Value = Rs. 2000
We know that CGST and SGST are components of GST.
CGST is always equal to SGST
i.e. GST = CGST + SGST
Let CGST and SGST be x.
Then GST = x + x
⇒ 12 = 2x
⇒ x = 6%
Hence CGST, SGST = 6%
We know that CGST =
⇒ CGST = 
= Rs. 120
∵ CGST = SGST
∴ SGST = Rs. 120
We know that Total Value = Taxable value + CGST + SGST
∴ Total Value = 2000 + 120 + 120 = Rs. 2240
Jigsaw puzzle:
Taxable Value = Rs. 5000
We know that CGST and SGST are components of GST.
CGST is always equal to SGST
i.e. GST = CGST + SGST
Let CGST and SGST be x.
Then GST = x + x
⇒ 12 = 2x
⇒ x = 6%
Hence CGST, SGST = 6%
We know that CGST =
⇒ CGST = 
= Rs. 300
∵ CGST = SGST
∴ SGST = Rs. 300
We know that Total Value = Taxable value + CGST + SGST
∴ Total Value = 5000 + 300 + 300 = Rs. 5600
Practice Set 4.3
Question 1.Complete the following table by writing suitable numbers and words.
Answer:
(1) We know that if MV = FV, then the share is at par.
Here, FV = Rs. 100
∴ MV = Rs. 100
(2) We know that if MV > FV, then the share is at premium.
∴ FV = MV – Premium
⇒ FV = 575 – 500 = Rs. 75
(3) We know that FV = Rs. 10 and MV = Rs.3
⇒ FV – MV = 10 – 5 = Rs. 5
We know that if MV < FV, then the share is at discount.
∴ The given share is at discount at Rs. 5.
Question 2.
Amol purchased 50 shares of Face Value Rs. 100 when the Market value of the share was Rs. 80. Company had given 20% dividend. Find the rate of return on investment.
Answer:
Given FV = Rs. 100; MV = Rs. 80; D = 20%
On investment of Rs. 80, Amol got Rs. 20.
Let rate of return be x%.
∴ 
⇒ 
∴ x = 
⇒ x = 25% (Rate of Return)
Question 3.
Joseph purchased following shares, Find his total investment.
Company A : 200 shares, FV = Rs. 2 Premium = Rs. 18.
Company B : 45 shares, MV = Rs. 500
Company C : 1 share, MV = Rs. 10,540.
Answer:
Company A: Premium = Rs. 18
We know that if MV > FV, then the share is at premium.
∴ MV = FV + Premium
⇒ MV = 2 + 18 = Rs.20
We know that investment = number of shares × MV
∴ Investment in company A = 200 × 20
= Rs. 4000
Company B:
∴ Investment in company B = 45 × 500
= Rs. 22, 500
Company C:
∴ Investment in company C = 1 × 10, 540
= Rs. 10, 540
Joseph has invested 4000 + 22, 500 + 10, 540 = Rs. 37, 040
Question 4.
Smt. Deshpande purchased shares of FV Rs. 5 at a premium of Rs. 20. How many shares will she get for Rs. 20,000?
Answer:
We know that if MV > FV, then the share is at premium.
∴ MV = FV + Premium
⇒ MV = 5 + 20
= Rs. 25
We know that investment = number of shares × MV
Given, investment = Rs. 20, 000
∴ Number of shares = 
⇒ Number of shares = 
= 800
Question 5.
Shri Shantilal has purchased 150 shares of FV Rs. 100, for MV of Rs. 120. Company has paid dividend at 7%. Find the rate of return on his investment.
Answer:
Given, number of shares = 150
FV = Rs. 100
MV = Rs. 120
Dividend = 7%
We know that investment = number of shares × MV
∴ Investment = 150 × 120
= Rs. 18, 000
We know that dividend per share =
∴ Dividend per share = 
= Rs. 7
∴ Total dividend received = 150 × 7 = Rs. 1050
We know that rate of return = 
∴ Rate of return = 
= 5.83%
Question 6.
If the face value of both the shares is same, then which investment out of the following is more profitable?
Company A : dividend 16%, MV = Rs. 80, Company B : dividend 20%, MV = Rs. 120.
Answer:
Let FV = Rs. 100
Company A:
We know that dividend per share = 
∴ Dividend per share = 
= Rs. 16
Income on Rs. 1 = 
= Rs. 0.20
Company B:
We know that dividend per share =
∴ Dividend per share = 
= Rs. 20
Income on Rs. 1 = 
= Rs. 0.16
∴ Investment of company A is more profitable than company B.
Practice Set 4.4
Question 1.Market value of a share is Rs. 200. If the brokerage rate is 0.3% then find the purchase value of the share.
Answer:
Given, MV = Rs. 200
Brokerage rate = 0.3%
We know that purchase value of a share = MV + Brokerage
∴ Purchase value of a share = 200 + 0.3% of 200
= 200 + 0.60
= Rs. 200.60
Question 2.
A share is sold for the market value of Rs. 1000. Brokerage is paid at the rate of 0.1%. What is the amount received after the sale?
Answer:
Given, MV = Rs. 1000
Brokerage rate = 0.1%
We know that the selling price for a share = MV – Brokerage rate
∴ Selling price for a share = 1000 – 0.1% of 1000
= 1000 – 1
= 999
Question 3.
Fill in the blanks given in the contract note of sale-purchase of shares.
(B - buy S - sell)
Answer:
B-Buy:
We know that Investment (total value) = Number of shares × MV
∴ Total value = 100 × 45
= Rs. 4500
We know that brokerage = Total Value × Brokerage rate
∴ Brokerage = 4500 × 0.2%
= Rs. 9
We know that CGST on brokerage = brokerage × CGST rate
∴ CGST on brokerage = 9 × 9%
= Rs. 0.81
We know that CGST value is equal to SGST value.
∴ SGST on brokerage = Rs. 0.81
We know that total value of shares = Total Value + Brokerage + CGST on brokerage + SGST on brokerage
⇒ Total value of shares = 4500 + 9 + 0.81 + 0.81
= Rs. 4510.62
S-Sell:
Total value = 200 × 75
= Rs. 15000
Brokerage = 15000 × 0.2%
= Rs. 30
CGST on brokerage = 30 × 9%
= Rs. 2.70 = SGST on brokerage
Total value of shares = 15000 + 30 + 2.70 + 2.70
= Rs. 14964.60
Question 4.
Smt. Desai sold shares of face value Rs. 100 when the market value was Rs. 50 and received Rs. 4988.20. She paid brokerage 0.2% and GST on brokerage 18%, then how many shares did she sell?
Answer:
Given, FV = Rs. 100
MV = Rs. 50
Total Value of shares = Rs. 4988.20
Brokerage 0.2% = 
= Rs. 0.1
GST per share on Brokerage = 18% of 0.1 = 0.018
We know that cost of a share = MV + Brokerage + GST
∴ Cost of 1 share = 50 + 0.1 + 0.018 = Rs. 50.118
We know that total value of shares = Total Value + Brokerage + GST on brokerage
∴ 4988.20 = Total Value + 0.1 + 0.018
⇒ Total Value = 4988.20 – 0.1 – 0.018
∴ Total Value = Rs. 4988.082
We know that Investment (Total Value) = Cost × Number of shares
∴ Number of shares = 
= 99.5 ≈ 100
Question 5.
Mr. D'souza purchased 200 shares of FV Rs. 50 at a premium of Rs. 100. He received 50% dividend on the shares. After receiving the dividend he sold 100 shares at a discount of Rs. 10 and remaining shares were sold at a premium of Rs. 75. For each trade he paid the brokerage of Rs. 20. Find whether Mr. D'souza gained or incurred a loss? by how much?
Answer:
Given:
Number of shares Mr. D’souza purchased = 200
FV = Rs. 50
Premium = Rs. 100
We know that if MV > FV, then the share is at premium.
∴ MV = FV + Premium
⇒ MV = 50 + 100 = Rs. 150
Value of 200 shares = 200 × 150 = Rs 30,000
We know that dividend per share =
∴ Dividend per share =
= Rs. 25
∴ Total dividend received = 200 × 25 = Rs. 5000
100 shares sold at discount of Rs 10.
∴ Selling price of 100 shares = 100 × (50-10)
= 100 × 40
= Rs 4000
Amount received on selling 100 shares = selling price – brokerage
= 4000 – 20
= Rs 3980
Another 100 shares were sold at a premium of Rs. 75.
∴ MV = FV + Premium
⇒ MV = 50 + 75 = Rs. 125
Selling price of 100 shares = 100× 125
= Rs 12500
Amount received on selling 100 shares = selling price – brokerage
= 12500 – 20
= Rs 12480
Total amount = 5000 + 3980 + 12480
= Rs 21460
Investment = 30,000
Loss = Investment – amount on selling the shares
= 30,000 – 21460
= Rs 8560
Problem Set 4a
Question 1.Write the correct alternative for each of the following.
Rate of GST on essential commodities is . . .
A. 5%
B. 12%
C. 0%
D. 18%
Answer:
According to Central board of Exercise and customs the rate of GST on essential commodities is 0%
Question 2.
Write the correct alternative for each of the following.
The tax levied by the central government for trading within state is . . .
A. IGST
B. CGST
C. SGST
D. UTGST
Answer:
The tax levied by the central government for trading is Central Goods and Services Tax.
Question 3.
Write the correct alternative for each of the following.
GST system was introduced in our country from . . .
A. 31st March 2017
B. 1st April 2017
C. 1st January 2017
D. 1st July 2017
Answer:
GST system was introduced from 1st July 2017
Question 4.
Write the correct alternative for each of the following.
The rate of GST on stainless steel utensils is 18%, then the rate of State GST is . . .
A. 18%
B. 9%
C. 36%
D. 0.9%
Answer:
According to Central board of Exercise and customs the rate of GST on stainless steels and utensils is 9%
Question 5.
Write the correct alternative for each of the following.
In the format of GSTIN there are . . . alpha-numerals.
A. 15
B. 10
C. 16
D. 9
Answer:
GSTIN has 15 alpha numerals
Question 6.
Write the correct alternative for each of the following.
When a registered dealer sells goods to another registered dealer under GST, then this trading is termed as . . .
A. BB
B. B2B
C. BC
D. B2C
Answer:
The trading when a dealer sells goods to another registered dealer under GST is termed as B2B.
Question 7.
A dealer has given 10% discount on a showpiece of Rs. 25,000. GST of 28% was charged on the discounted price. Find the total amount shown in the tax invoice. What is the amount of CGST and SGST?
Answer:
Printed price = Rs. 25,000
Rate of discount = 10%
Discount given = 
Discounted price = (25000-2500) = Rs. 22,500
Rate of GST = 28%
Total GST = 
⇒ Total GST = 
Total amount shown in the tax invoice = (22500 + 6300) = Rs. 28,800
CGST = 
⇒ CGST = 
SGST =
⇒ SGST =
Question 8.
A ready-made garment shopkeeper gives 5% discount on the dress of Rs. 1000 and charges 5% GST on the remaining amount, then what is the purchase price of the dress for the customer?
Answer:
Printed price of shirt = Rs. 1000
Rate of discount = 5%
Discount given = 
Discounted price = (1000-50) = Rs. 950
Rate of GST = 5%
Total GST =
⇒ Total GST = 
Purchase Price = (950 + 47.5) = Rs. 997.50
Question 9.
A trader from Surat, Gujarat sold cotton clothes to a trader in Rajkot, Gujarat. The taxable value of cotton clothes is Rs. 2.5 lacs. What is the amount of GST at 5% paid by the trader in Rajkot?
Answer:
Taxable Value = Rs. 2,50,000
Rate of GST = 5%
Total GST = 
⇒ Total amount of GST = 
Question 10.
Smt. Malhotra purchased solar panels for the taxable value of Rs. 85,000. She sold them for Rs. 90,000. The rate of GST is 5%. Find the ITC of Smt. Malhotra. What is the amount of GST payable by her?
Answer:
Purchase Price = Rs. 85,000
Rate of GST = 5%
Input Tax(ITC) = 
⇒ Input Tax(ITC) = 
Selling Price = Rs. 90,000
Output Tax = 
⇒ Output Tax = 
Payable Tax = (Output Tax-ITC) = Rs. 250
Question 11.
A company provided Z-security services for the taxable value of Rs. 64,500. Rate of GST is 18%. Company had paid GST of Rs. 1550 for laundry services and uniforms etc. What is the amount of ITC (input Tax Credit)? Find the amount of CGST and SGST payable by the company.
Answer:
Input Tax(ITC) = Rs. 1550
Selling Price = Rs. 64,500
Output Tax =
⇒ Output Tax = 
Total GST Payable = (Output tax-ITC) = (11610-1550) = Rs. 10060
CGST =
⇒ CGST = 
SGST =
⇒ SGST =
Question 12.
A dealer supplied Walky-Talky set of Rs. 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. Also find the taxable value of the set.
Answer:
Let taxable value be x
Rate of GST = 12%
Selling price = Rs. 84,000
⇒ 
⇒ 
Total GST charged = (84000-75000) = Rs. 9000
CGST =
⇒ CGST = 
SGST =
⇒ SGST =
Question 13.
A wholesaler purchased electric goods for the taxable amount of Rs. 1,50,000. He sold it to the retailer for the taxable amount of Rs. 1,80,000. Retailer sold it to the customer for the taxable amount of Rs. 2,20,000. Rate of GST is 18%. Show the computation of GST in tax invoices of sales. Also find the payable CGST and payable SGST for wholesaler and retailer.
Answer:
Purchase price of wholesaler = Rs. 1,50,000
Purchase price of retailer = Rs. 1,80,000
Purchase price of customer = Rs. 2,20,000
Rate of GST = 18%
Manufacturer’s Tax invoice:
Total GST = 
Amount of CGST showed in the invoice of Manufacturer = 
Amount of SGST showed in the invoice of Manufacturer =
Wholesaler’s Tax invoice:
Total GST = 
(1) Amount of CGST showed in the invoice of Wholesaler = 
Amount of SGST showed in the invoice of Wholesaler =
Retailer’s Tax invoice:
Total GST = 
Amount of CGST showed in the invoice of Retailer = 
Amount of SGST showed in the invoice of Retailer =
(2) CGST payable by wholesaler = (16200-13500) = Rs. 2700
SGST payable by wholesaler = (16200-13500) = Rs. 2700
CGST payable by retailer = (19800-16200) = Rs. 3600
SGST payable by retailer = (19800-16200) = Rs. 3600
Question 14.
Anna Patil (Thane, Maharashtra) supplied vacuum cleaner to a shopkeeper in Vasai(Mumbai) for the taxable value of Rs. 14,000, and GST rate of 28%. Shopkeepersold it to the customer at the same GST rate for Rs. 16,800 (taxable value) Find the following-
(1) Amount of CGST and SGST shown in the tax invoice issued by Anna Patil.
(2) Amount of CGST and SGST charged by the shopkeeper in Vasai.
(3) What is the CGST and SGST payable by shopkeeper in Vasai at the time offiling the return.
Answer:
Amount at which the article was sold by Anna Patil = Rs. 14,000
Rate of GST = 28%
Amount of GST shown in the tax invoice issued by Anna Patil = 
(1) Amount of CGST showed in the invoice of Anna Patil = 
Amount of SGST showed in the invoice of Anna Patil =
Amount at which the article was sold by the shopkeeper = Rs. 16,800
Amount of GST shown in the tax invoice issued by shopkeeper = 
(2) Amount of CGST showed in the invoice of shopkeeper = 
Amount of SGST showed in the invoice of shopkeeper =
(3) Amount of CGST payable by shopkeeper = (2352-1960) = Rs.392
Amount of SGST payable by shopkeeper = (2352-1960) = Rs.392
Question 15.
For the given trading chain prepare the tax invoice I, II, III. GST at the rate of 12% was charged for the article supplied.
(1) 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.
(2) At the end what amount is paid by the consumer?
(3) Write which of the invoices issued are B2B and B2C?
Answer:
Rate of GST = 12%
Taxable value for manufacturer = Rs. 5000
Total GST paid by manufacturer = 
Total CGST paid by manufacturer = 
Total SGST paid by manufacturer =
Taxable value for distributor = Rs. 6000
Total GST for distributor = 
Total GST payable = (720-600) = Rs. 120
Total CGST paid by distributor = 
Total SGST paid by distributor =
Taxable value for distributor = Rs. 6500
Total GST for retailer = 
Total GST payable for retailer = (780-720) = Rs. 60
Total CGST paid by retailer = 
Total SGST paid by retailer =
Total Tax = (600 + 120 + 60) = Rs. 780
(1) Statement of GST :
(2) Amount paid by customer = (6500 + 780) = Rs. 7280
(3) The invoices between
• Manufacturer to Distributor:B2B
• Distributor to Retailer:B2B
• Retailer to Customer:B2C
Problem Set 4b
Question 1.Write the correct alternative for the following question.
If the Face Value of a share is Rs. 100 and Market value is Rs. 75,then which of the following statements is correct?
A. The share is at premium of Rs. 175
B. The share is at discount of Rs. 25
C. The share is at premium of Rs. 25
D. The share is at discount of Rs. 75
Answer:
Market value = Rs. 75
Face Value = Rs. 100
If the market value is at a lower price than the face value then the share is in a discount.
Discount = (Face value-Market value) = Rs. 25
(A) The share is at premium Rs. 175 is wrong
(B) The share is at a discount of Rs. 25 is correct
(C) The share is at a premium of Rs. 25 is wrong
(D) The share is at discount of Rs. 75 is wrong
Hence, only B is correct
Question 2.
Write the correct alternative for the following question.
What is the amount of dividend received per share of face value Rs. 10 and dividend declared is 50%.
A. Rs. 50
B. Rs. 5
C. Rs. 500
D. Rs. 100
Answer:
Rate of dividend = 50%
Dividend = 
Question 3.
Write the correct alternative for the following question.
The NAV of a unit in mutual fund scheme is Rs. 10.65 then find the amount required to buy 500 such units.
A. 5325
B. 5235
C. 532500
D. 53250
Answer:
Net Asset Value = (N.A.V. of one unit × No. Of units) = Rs. 5325
Question 4.
Write the correct alternative for the following question.
Rate of GST on brokerage is . . .
A. 5%
B. 12%
C. 18%
D. 28%
Answer:
Rate of GST on Brokerage is 18% according to Central board of Exercise and customs
Question 5.
Write the correct alternative for the following question.
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 .
A. added to
B. substracted from
C. Multiplied with
D. divided by
Answer:
The Brokerage and GST needs to be added to the Market Value of share at the time of buying.
Question 6.
Find the purchase price of a share of FV Rs. 100 if it is at premium of Rs. 30. The brokerage rate is 0.3%.
Answer:
Face Value = Rs. 100
Premium = Rs. 30
Market value = (100 + 30) = Rs. 130
Rate of Brokerage = 0.3%
Brokerage = 
Brokerage = 
Purchase price = (130 + 0.39) = Rs. 130.39
Question 7.
Prashant bought 50 shares of FV Rs. 100, having MV Rs. 180. Company gave 40% dividend on the shares. Find the rate of return on investment.
Answer:
Face Value = Rs. 100
Market value = Rs. 180
Rate of Dividend = 40%
Dividend = 
⇒ Dividend = 
No. of shares brought = 50
Total investment = (50 × 180) = Rs. 9000
Total profit = (40 × 50) = Rs. 2000
Rate of Return = 
Question 8.
Find the amount received when 300 shares of FV Rs. 100, were sold at a discount of Rs. 30.
Answer:
Face Value = Rs. 100
Discount = Rs. 30
Market Value = (100-30) = Rs. 70
No. Of shares = 300
Amount Received = (70× 300) = Rs. 21,000
Question 9.
Find the number of shares received when Rs. 60,000 was invested in the shares of FV Rs. 100 and MV Rs. 120.
Answer:
Market Value = Rs. 120
Amount invested = Rs. 60,000
No. of shares received = 
Question 10.
Smt. Mita Agrawal invested Rs. 10,200 when MV of the share is Rs. 100. She sold 60 shares when the MV was Rs. 125 and sold remaining shares when the MV was Rs. 90. She paid 0.1% brokerage for each trading. Find whether she made profit or loss? and how much?
Answer:
Amount Invested = Rs. 10,200
Market value when purchased = Rs. 100
Rate of Brokerage = 0.1%
Brokerage when purchased = 
Brokerage when purchased = 
Brokerage when sold = 
Brokerage when sold for first 60 shares = 
Brokerage when remaining shares are sold = 
No. of shares Purchased = 
No. of shares sold when M.V. is Rs. 125 = 60
No. of shares sold when M.V. is Rs. 90 = (102-60) = 42
Total amount returned = (60× 125) + (42× 90) = Rs. 11,280
Total brokerage paid = (0.1×102) + (0.125×60) + (0.09×42) = Rs. 21.48
Total profit = ( Total amount returned- Amount Invested- Total brokerage paid) = Rs. 1058.52
Question 11.
Market value of shares and dividend declared by the two companies is given below. Face Value is same and it is Rs. 100 for both the shares. Investment in which company is more profitable?
(1) Company A - Rs. 132 , 12%
(2) Company B - Rs. 144, 16%
Answer:
Face Value = Rs. 100
Market value of Company A share = Rs. 132
Rate of Dividend = 12%
Dividend =
⇒ Dividend of Company A share = 
Market value of Company B share = Rs. 144
Rate of Dividend of Company B share = 16%
Dividend =
⇒ Dividend = 
Return% of Company A = 
Return% of Company B = 
Return % of Company B is more so company B is more profitable.
Question 12.
Shri. Aditya Sanghavi invested Rs. 50,118 in shares of FV Rs. 100, when the market value is Rs. 50. Rate of brokerage is 0.2% and Rate of GST on brokerage is 18%, then How many shares were purchased for Rs. 50,118?
Answer:
Amount invested = Rs. 50,118
Let number of shares be n
Total Share Price = Market Value × Number of Shares = 50 nNow Brokerage is calculated over total share price, Brokerage = 0.2% of 50 n
G.S.T is calculated over brokerage money, G.S.T = 18% of 0.2% of 50 n
Therefore,
(Total Share Price + Brokerage + G.S.T) = Money Invested
⇒ 50.118 n = 50118
⇒ n = 1000 shares
Hence, The total number of shares are 1000.Question 13.
Shri. Batliwala sold shares of Rs. 30,350 and purchased shares of Rs. 69,650 in a day. He paid brokerage at the rate of 0.1% on sale and purchase. 18% GST was charged on brokerage. Find his total expenditure on brokerage and tax.
Answer:
Selling Price = Rs. 30,350
Rate of brokerage = 0.1%
Brokerage when sold = 
Purchase price = Rs. 69,650
Brokerage when purchased = 
Total Brokerage = Rs.100
Rate of GST = 18%
Total GST = 
Total expenditure on Brokerage and GST = (100 + 18) = Rs. 118
Question 14.
Smt. Aruna Thakkar purchased 100 shares of FV 100 when the MV is Rs. 1200. She paid brokerage at the rate of 0.3% and 18% GST on brokerage.
Find the following -
(1) Net amount paid for 100 shares.
(2) Brokerage paid on sum invested.
(3) GST paid on brokerage.
(4) Total amount paid for 100 shares.
Answer:
No. of shares = 100
Market value = Rs. 1200
(1) Net amount paid = (100× 1200) = Rs. 1,20,000
Rate of Brokerage = 0.3%
(2) Brokerage paid = 
Rate of GST = 18%
(3) Total GST = 
(4) Total amount paid for 100 shares = (120000 + 360 + 64.80) = Rs. 1,20,424.80
Question 15.
Smt. Anagha Doshi purchased 22 shares of FV Rs. 100 for Market Value of Rs. 660. Find the sum invested. After taking 20% dividend, she sold all the shares when market value was Rs. 650. She paid 0.1% brokerage for each trading done. Find the percent of profit or loss in the share trading. (Write your answer to the nearest integer.)
Answer:
No. of shares = 22
Face Value = Rs. 100
Market Value when purchased = Rs. 660
Market Value when sold = Rs. 650
Rate of brokerage = 0.1 %
Brokerage paid when purchased =
Brokerage paid when purchased = 
Brokerage paid when sold =
Brokerage paid when sold = 
Total value of purchase = (660 + 0.66)× 22 = Rs. 14534.52
Total value of sell = (650-0.66)× 22 = Rs. 14285.48
Loss in share selling = ( Total value of purchase- Total value of sell) = Rs. 249.04
Rate of Dividend = 20%
Dividend =
⇒ Dividend = 
Total dividend = (20× 22) = Rs. 440
Overall profit in the trade = ( Total dividend- Loss in share selling) = Rs. 190.96
Profit percent = 
⇒ Profit percent = 