ML Aggarwal Solutions for Class 10 Maths Chapter 1

ML Aggarwal Solutions for Class 10 Maths Chapter 1

ML Aggarwal Solutions for Class 10 Maths Chapter 1

ML Aggarwal Goods and Service Tax (GST) solutions for Class 10 Maths Chapter 1 are available here. We will address subjects focused on goods and service tax in this segment. GST is a value-added tax charged on most domestically consumed products and services sold. The GST is compensated by customers, but the companies supplying the products and services are remitted to the state. In effect, GST provides the government with revenue.

ML Aggarwal Solutions for Class 10 Maths Chapter 1 (Part-1)

  1. An article is marked at ₹ 15000. A dealer sells it to a consumer at 10% profit. If the rate of GST is 12%, find:

(i) the selling price (excluding tax) of the article.

(ii) the amount of tax (under GST) paid by the consumer.

(iii) the total amount paid by the consumer.

Solution:

(i) Marked price of the article = ₹15000

When sold at 10% profit

Profit = (10/100) x ₹15000 = ₹1500

Thus, the selling price (excluding tax) = ₹15000 + ₹1500 = ₹16500

(ii) The rate of GST is 12%

Thus, the amount of tax (GST) paid by the consumer would be

= (12/100) x ₹16500

= ₹1980

(iii) Therefore, the total amount paid by the consumer = Selling price + GST

= ₹16500 + ₹1980

= ₹18480

  1. A shopkeeper buy goods worth 4000 and sells these at a profit of 20% to a consumer in the same state. If GST is charged at 5%, find:

(i) the selling price (excluding tax) of the goods.

(ii) CGST paid by the consumer.

(iii) SGST paid by the consumer.

(iv) the total amount paid by the consumer.

Solution:

(i) Actual price of the goods = ₹4000

When sold at a profit of 20%

Profit = (20/100) x ₹4000 = ₹800

Thus, the selling price (excluding tax) of the goods will be

= Actual price + profit

= ₹4000 + ₹800

= ₹4800

The GST charged is 5%

(ii) CGST paid by the consumer = 2.5% of the selling price

= (2.5/100) x ₹4800

= ₹120

(iii) SGST paid by the consumer = 2.5% of the selling price

= (2.5/100) x ₹4800

= ₹120

(iv) Thus, the total amount paid by the consumer = selling price + CGST + SGST

= ₹4800 + ₹120 + ₹120

= ₹5040

  1. The marked price of an article is 12500. A dealer in Kolkata sells the article to a consumer in the same city at a profit of 8%. If the rate of GST is 18%, find

(i) the selling price (excluding tax) of the goods.

(ii) IGST, CGST and SGST paid by the dealer to the Central and State Governments.

(iii) the amount which the consumer pays for the article

Solution:

(i)The marked price of the article = ₹12500

When sold at a profit of 8%

Profit = (8/100) x ₹12500 = ₹1000

Thus, the selling price (excluding tax) of the article = Marked price + profit

= ₹12500 + ₹1000

= ₹13500

(ii) The rate of GST = 18%

IGST is not applicable in this case since the dealing is intra state

CGST paid by the dealer to the Central Government = 9% of the selling price

= (9/100) x ₹13500

= ₹1215

And,

SGST paid by the dealer to the State Government = 9% of the selling price

= (9/100) x ₹13500

= ₹1215

(iii) Hence, the total amount which the consumer pays for the article will be

= Selling price + CGST + SGST

= ₹13500 + ₹1215 +
₹1215

= ₹15930

  1. A shopkeeper buys an article from a wholesaler for ₹ 20000 and sells it to consumer at 10% profit. If the rate of GST is 12%, find the tax liability of the shopkeeper.

Solution:

Selling price of the wholesaler = ₹20000

Now, the cost price for the shopkeeper = ₹20000

When sold at a profit of 10%

Profit = (10/100) x ₹20000 = ₹2000

So, the selling of shopkeeper = Cost price + profit

= ₹20000 + ₹2000

= ₹22000

The rate of GST = 12 %

The tax liability of shopkeeper = Profit x GST %

= ₹2000 x (12/100)

= ₹240

  1. A dealer buys an article for ₹ 6000 from a wholesaler. The dealer sells the article to a consumer at 15% profit. If the sales are intra-state and the rate of GST is 18%, find

(i) input CGST and input SGST paid by the dealer.

(ii) output CGST and output SGST collected by the dealer.

(iii) the net CGST and SGST paid by the dealer.

(iv) the total amount paid by the consumer.

Solution:

Selling price of the wholesaler = ₹6000

Cost price of the dealer = ₹6000

When sold at a profit of 15% to the consumer

Profit = (15/100) x ₹6000 = ₹900

So, the selling price of the dealer = Cost price + profit

= ₹6000 + ₹900

= ₹6900

Rate of GST = 18%

(i) Input CGST paid by the dealer = 9% of selling price of wholesaler

= (9/100) x ₹6000

= ₹540

And, input SGST paid by the dealer = 9% of selling price of wholesaler

= (9/100) x ₹6000

= ₹540

(ii) Output CGST collected by the dealer = 9% of selling price of the dealer

= (9/100) x ₹6900

= ₹621

And, output SGST collected by the dealer = 9% of selling price of the dealer

= (9/100) x ₹6900

= ₹621

(iii) Net CGST paid by the dealer = (Output CGST – Input CGST) paid by the dealer

= ₹621 – ₹540

= ₹81

And, Net SGST paid by the dealer = (Output SGST – Input SGST) paid by the dealer

= ₹621 – ₹540

= ₹81

(iv) The total amount paid by the consumer = Selling price of the dealer + CGST + SGST

= ₹6900 + ₹621 + ₹621

= ₹8142

  1. A Manufacture buys raw material worth ₹ 7500 paying GST at the rate of 5%. He sells the finished product to a dealer at 40% profit. If the purchased and the sale both are intra-state and the rate of GST for the finished product is 12%, find:

(i) the input tax (under GST) paid by the manufacturer.

(ii) the output tax (under GST) collected by the manufacturer.

(iii) the tax (under GST) paid by the manufacturer to the Central and State Governments.

(iv) the amount paid by the dealer for the finished product.

Solution:

(i) Cost of the raw material = ₹7500

The rate of GST = 5%

The input tax (under GST) paid by the manufacturer = 5% of ₹7500

= (5/100) x ₹7500

= ₹375

Thus, the CGST and SGST both are ₹187.50 each

(ii) The manufacture sells the finished product to a dealer at a profit of 40%

Profit = (40/100) x ₹7500

= ₹3000

Selling price = Cost price + profit

= ₹7500 + ₹3000

= ₹10500

The output tax (under GST) collected by the manufacture = 12% of the selling price

= (12/100) x ₹10500

= ₹1260

Thus, both CGST and SGST = ₹630

(iii) The net tax (under GST) paid by the manufacturer to the Central Government (CGST) = (Input – output) CGST

= ₹630 – ₹187.50

= ₹442.5

And, the net tax (under GST) paid by the manufacturer to the State Governments (SGST) = (Input – output) CGST

= ₹630 – ₹187.50

= ₹442.5

(iv) The amount paid by the dealer for the finished product = Selling price + GST

= ₹10500 + GST

= ₹10500 + (12/100) x ₹10500

= ₹10500 + ₹1260

= ₹11760

  1. A manufacture sells a T.V to a dealer for Rs.18000 and the dealer sells it to a consumer at a profit of Rs 1500. If the sales are intra state and the rate of G.S.T is 12 %, Find:

(i) The amount of GST paid by the dealer to the State Government.

(ii) The amount of GST received by the Central Government.

(iii) The amount of GST received by the State Government.

(iv) The amount that the consumer pays for the TV.

Solution:

It is a case of intra-state transaction of goods and services.

SGST = CGST = ½ GST

Given:

Manufacturer sells T.V to a dealer = ₹ 18000

Amount of GST collected by manufacturer from dealer,

CGST – SGST = 6% of 18000

= (6/100) × 18000

= ₹ 1080

So, Manufacturer will pay ₹ 1080 as CGST and ₹ 1080 as SGST

CP of a TV for dealer = ₹ 18000

Profit = ₹ 1500

SP of a TV for dealer to customer – CP + Profit = ₹ 18000 + ₹ 1500

= ₹ 19500

Amount of GST collected by dealer from customer,

CGST = SGST = 6% of ₹ 19500

= (6/100) × 19500

= ₹ 1170

(i) Amount of GST paid by the dealer to the State Government.

₹ 1170 – ₹ 1080 = ₹ 90

(ii) Amount of GST received by the Central Government.

CGST paid by manufacturer + CGST paid by dealer = ₹ 1080 + ₹ 90

= ₹ 1170

(iii) Amount of GST received by the State Government.

SGST paid by manufacturer + SGST paid by dealer = ₹ 1080 + ₹ 90

= ₹ 1170

(iv) Amount that the consumer pays for the TV.

CP of TV + CGST paid by customer + SGST paid by customer

= ₹19500 + ₹1170 + ₹ 1170 = ₹ 21840

  1. A shopkeeper buys a camera at a discount of 20% from a wholesaler. The printed price of the camera being Rs 1600. The shopkeeper tells it to a consumer at the printed price.

If the sales are intra-state and the rate of GST Is 12%, find:

(i) GST paid by the shopkeeper to the Central Government

(ii) GST received by the Central Government.

(iii) GST received by the State Government.

(iv) The amount at which the consumer bought the camera.

Solution:

It is a case of intra-state transaction of goods and services.

SGST = CGST = ½ GST

Given:

Printed price of a camera = ₹ 1600

Rate of discount = 20%

CP of camera for shopkeeper = printed price – Discount

= ₹1600 – 20% of ₹1600

= ₹1600 – (20/100) × 1600

= ₹1600 – ₹320

= ₹1280

It is given that, rate of GST = 12%

Amount of GST paid by the shopkeeper to the wholesaler,

CGST = SGST = 6% of ₹1280

= (6/100) × 1280

= ₹76.80

(i) GST paid by the shopkeeper to the Central Government

CGST = SGST = 6% of ₹1600

= (6/100) × 1600

= ₹96

GST paid by the shopkeeper to the Central Government = ₹96 – ₹76.80 = ₹19.20

(ii) GST received by the Central Government.

CGST paid by wholesaler + CGST paid by shopkeeper = ₹76.80 + ₹19.20 = ₹96

(iii) GST received by the State Government.

SGST paid by wholesaler + SGST paid by shopkeeper = ₹76.80 + ₹19.20 = ₹96

(iv) The amount at which the consumer bought the camera.

Amount paid by consumer for camera = CP of camera + CGST paid by consumer + SGST paid by consumer = ₹1600 + ₹96 + ₹96 = ₹1792

  1. A dealer buys an article at a discount of 30% from the wholesaler, the marked price being Rs 6000. The dealer sells it to a consumer at a discount of 10% on the marked price. If the sales are intra-state and the rate of GST is 5%. Find:

(i) The amount paid by the consumer for the article.

(ii) The tax (under GST) paid by the dealer to the State Government.

(iii) The amount of tax (under GST) received by the Central Government.

Solution:

It is a case of intra-state transaction of goods and services.

SGST = CGST = ½ GST

Given:

Marked price of an article = ₹6000

Rate of GST = 5%

Rate of discount given by the wholesaler = 30%

CP of an article for dealer = Marked price – Discount

= ₹6000 – 30% of ₹6000

= ₹6000 – (30/100) × 6000

= ₹6000 – 1800

= ₹4200

Amount of GST paid by dealer to wholesaler,

CGST = SGST = 2.5% of ₹4200

= (2.5/100) × 4200

= ₹105

(i) The amount paid by the consumer for the article.

SP of an article for consumer = Marked price – Discount

= ₹6000 – 10% of ₹6000

= ₹6000 – (10/100) × 6000

= ₹6000 – 600

= ₹5400

Amount of GST paid by consumer to dealer,

CGST = SGST = 2.5% of ₹5400

= (2.5/100) × 5400

= ₹135

Amount paid by consumer for article = CP of article for consumer + CGST paid by consumer + SGST paid by consumer = ₹5400 + ₹135 + ₹135 = ₹5670

(ii) The tax (under GST) paid by the dealer to the State Government.

₹135 – ₹105 = ₹30

(iii) The amount of tax (under GST) received by the Central Government.

CGST paid by wholesaler + CGST by dealer = ₹105 + ₹30 = ₹135

  1. The printed price of an article is Rs 50000. The wholesaler allows a discount of 10% to a shopkeeper. The shopkeeper sells the article to a consumer at 4% above the marked price. If the sales are intra-state and the rate of GST is 18%, find:

(i) The amount inclusive of tax (under GST) which the shopkeeper pays for the articles.

(ii) The amount paid by the consumer for the article.

(iii) The amount of tax (under GST) paid by the shopkeeper to the Central Government.

(iv) The amount of tax (under GST) received by the State Government.

Solution:

It is a case of intra-state transaction of goods and services.

SGST = CGST = ½ GST

Given:

Marked price of an article = ₹50000

Rate of GST = 18%

(i) The amount inclusive of tax (under GST) which the shopkeeper pays for the articles.

Rate of discount given by the wholesaler = 10%

CP of an article for shopkeeper = Marked price – Discount

= ₹50000 – 10% of ₹50000

= ₹50000 – (10/100) × 50000

= ₹50000 – 5000

= ₹45000

Amount of GST paid by dealer to wholesaler,

CGST = SGST = 9% of ₹45000

= (9/100) × 45000

= ₹4050

Amount paid by shopkeeper for an article = CP of an article for shopkeeper + CGST paid by consumer + SGST paid by consumer = ₹45000 + ₹4050 + ₹4050 = ₹53100

(ii) The amount paid by the consumer for the article.

SP of an article for consumer = Marked price – Discount

= ₹50000 – 4% of ₹50000

= ₹50000 – (4/100) × 50000

= ₹50000 – 2000

= ₹48000

Amount of GST paid by consumer to dealer,

CGST = SGST = 9% of ₹48000

= (9/100) × 48000

= ₹4320

Amount paid by consumer for article = CP of article for consumer + CGST paid by consumer + SGST paid by consumer = ₹48000 + ₹4320 + ₹4320 = ₹56640

(iii) The amount of tax (under GST) paid by the shopkeeper to the Central Government.

₹4320 – ₹4050 = ₹270

(iv) The amount of tax (under GST) received by the State Government.

SGST paid by wholesaler + SGST paid by shopkeeper = ₹4050 + ₹270 = ₹4320

Here you can download the part-1 of Chapter-1 (Part – 1)

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