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Question
Answer in One Sentence:
What is GST?
Solution 1
GST means Goods and Service Tax. GST is one nation, one tax, one market.
Solution 2
GST is the indirect tax levied on goods and services across the country. It is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.
RELATED QUESTIONS
Answer in One Sentence:
In which year GST was imposed by the Central Government of India?
Give one word/term or phrase for the following statement:
The tax imposed by Central Government on Goods and Services
Give one word/term or phrase for the following statement:
Brief explanation of an entry.
Give one word/term or phrase for the following statement:
Tax payable to the Government on purchase of goods.
Correct the following statement and rewrite the statement:
GST is imposed by the Government of India from 1st July 2018.
M/s Janaseva sweet mart sold sweets of Rs.3,86,000. What CGST and SGST he will pay if the rate of GST is 5%?
Janhavi Gas Agency purchased some gas cylinders for Rs. 500000 and sold them to the customers for Rs. 590000. Find the amount of GST payable and the amount of ITC 5% GST is applicable.
Two friends ‘Aditi’ and ‘Vaishali’ went to a restaurant. They ordered 2 Masala Dosa costing Rs. 90 each 2 coffee costing Rs.60 each and 1 sandwich costing Rs. 80. If GST is charged at 5% Find the Total amount of the bill including GST.
Prepare Business to customers (B2C) tax invoice using the 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: ___________________
Particular: Rate of Sarees – Rs.2750 Rate of GST 5% HSN 5407–2 pcs
Rate of Kurta – Rs. 750 Rate of GST 12% HSN 5408.
‘Sweet 16’ A ready-made garments shop for Women's garments, purchased stock for Rs. 400000 and sold that stock for 550000 ( 12% GST is applicable)
Find,
i) Input Tax Credit
ii) CGST and SGST paid by the firm.
GST stands for ______,______,______.
What are the functions of the GST council?
Do you agree or disagree with following statement:
GST stands for Goods and Sales Tax.
Paid Transport charges ₹ 10,000 @ 5% GST. Calculate CGST & SGST.
Bought goods from Ranjan ₹ 10,000 @ 5% GST and 10% cash discount. Calculate cash discount.
Received cheque of ₹ 90,000 from Kiran in full settlement of his account ₹ 1,00,000/-. Calculate discount rate.
Sold goods of ₹ 1,00,000 at 10%. Trade Discount and 10% cash discount to Ram and received 50% amount by cheque. Calculate the amount of cheque received.
