A shopkeeper buys a machine from a retailer for ` 50,000. He marks the price
of the machine 20% above his cost price and sells it to a consumer at 10%
discount on the marked price. If the sales are intra-state and the rate of GST is
12%, find:
(i) the marked price of the machine.
(ii) consumer’s cost price of the machine inclusive of tax (under GST).
(iii) the tax (under GST) paid by the shopkeeper to the Central Government.
(iv) the tax (under GST) paid by the shopkeeper to the State Government.
Answers
Answer:
question 1
For the following transaction within Delhi, fill in the blanks to find the amount of bill :
MRP = Rs. 12,000, Discount % = 30%, GST = 18%
Discount =
Selling price (discounted value) =
CGST =
SGST =
IGST =
Amount of Bill =
Solution 1
MRP = Rs. 12,000, Discount % = 30%, GST = 18%
Discount = 30% of 12,000 = Selina Solutions Icse Class 10 Mathematics Chapter - Gst Goods And Services Tax
Selling price (discounted value) = 12000 - 3600 = Rs. 8400
CGST = 9% of 8400 = Rs. 756
SGST = 9% of 8400 = Rs. 756
IGST = 0
Amount of Bill = Selling price + CGST + SGST = 8400 + 756 + 756 = Rs. 9912
Question 2
For the following transaction from Delhi to Jaipur, fill in the blanks to find the amount of bill :
MRP = Rs. 50,000, Discount % = 20%, GST = 28%
Discount =
Selling price (discounted value) =
CGST =
SGST =
IGST =
Amount of Bill =
Solution 2
MRP = Rs. 50,000, Discount % = 20%, GST = 28%
Discount = 20% of 50,000 = Selina Solutions Icse Class 10 Mathematics Chapter - Gst Goods And Services Tax
Selling price (discounted value) = 50,000 - 10,000 = Rs. 40,000
CGST = 0
SGST = 0
IGST = 28% of 40,000 = Selina Solutions Icse Class 10 Mathematics Chapter - Gst Goods And Services Tax
Amount of Bill = Selling price + IGST = 40,000 + 11,200 = Rs. 51,200
Question 3
A computer mechanic in Delhi charges repairing cost from five different persons A, B, C, D and E with certain discounts. The repairing costs and the corresponding discounts are as given below :
Name of the person
A
B
C
D
E
Repairing cost (in Rs.)
5500
6250
4800
7200
3500
Discount %
30
40
30
20
40
If the rate of GST is 18%, find the total money (including GST) received by the mechanic.
Solution 3
Name of the person
Repairing cost (in Rs.)
Discount %
Discount
Selling price
CGST (9%)
SGST (9%)
A
5500
30
1650
3850
346.5
346.5
B
6250
40
2500
3750
337.5
337.5
C
4800
30
1440
3360
302.4
302.4
D
7200
20
1440
5760
518.4
518.4
E
3500
40
1400
2100
189
189
Total
18,820
1693.8
1693.8
The total money (including GST) received by the mechanic is 18,820 + 1693.8 + 1693.8 = Rs. 22,207.6
Question 4
Find the amount of bill for the following intra-state transaction of goods/services. The GST rate is 5%.
Quantity (no. of items)
MRP of each item (in Rs.)
Discount %
18
150
10
24
240
20
30
100
30
12
120
20
Solution 4
Quantity
MRP
Total MRP
Discount %
Discounted price
Selling price
CGST 2.5%
SGST 2.5%
18
150
2700
10
270
2430
60.75
60.75
24
240
5760
20
1152
4608
115.2
115.2
30
100
3000
30
900
2100
52.5
52.5
12
120
1440
20
288
1152
28.8
28.8
Total
10,290
257.25
257.25
Amount of bill = Selling price + GST
= 10,290 + 257.25 + 257.25
= Rs. 10,804.5
Step-by-step explanation: