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Question
Give one word/term or phrase for the following statement:
The tax imposed by Central Government on Goods and Services
Solution
GST Goods and Service Tax
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Answer in One Sentence:
What is GST?
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:
Brief explanation of an entry.
Give one word/term or phrase for the following statement:
Tax payable to the Government on purchase of goods.
Give one word/term or phrase for the following statement:
Page number of the ledger.
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.
A company dealing in mobile phones purchased mobile phones worth Rs500000 and sold the same to customers at Rs.6,00,000. Find the amount Of ITC and the amount of GST if the rate of GST is 12%.
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.
‘Chitra furnishings’ purchased tapestry (curtain cloth) for Rs. 2800000 and sold for Rs.4480000 Rate of GST is 5%.
Find,
i) Input Tax
ii) Output Tax
iii) ITC
iv) CGST and SGST
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.
Ashwin Auto Automobiles sold 10 motorcycles. The total sales amount was Rs. 680000. 18% of GST is applicable. Calculate how much CGST and SGST the firm has to pay.
‘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.
Purchased Motor Car from Tata & Company worth ₹ 2,00,000 at 18% GST. Find out GST amount.
Paid Transport charges ₹ 10,000 @ 5% GST. Calculate CGST & SGST.
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.
