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Question
Shri. Batliwala sold shares of ₹ 30,350 and purchased shares of ₹ 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.
Solution 1
Brokerage = 0.1%
GST = 18%
At the time of selling shares:
Total sales amount of shares = ₹ 30,350
Brokerage = 0.1% of 30,350
`= 0.1/100 × 30,350`
= ₹ 30.35
GST = 18% of ₹ 30.35
`= 18/100 × 30.35`
= ₹ 5.463
For purchasing shares:
Total purchase amount of shares = ₹ 69,650
Brokerage = 0.1% of 69,650
`= 0.1/100 × 69,650`
= ₹ 69.65
GST = 18% of ₹ 69.65
`= 18/100 × 69.65`
= ₹ 12.537
∴ Total expenditure on brokerage and tax = Brokerage and tax on selling + Brokerage and tax on purchasing
= (30.35 + 5.463) + (69.65 + 12.537)
= Rs. 118
∴ Total expenditure on brokerage and tax is Rs. 118.
Solution 2
Total amount = Sale value + Purchase value
= 30350 + 69650
= ₹ 1,00,000
Rate of Brokerage = 0.1%
Brokerage = 0.1% of 1,00,000
`= 0.1/100 × 1,00,000`
= ₹ 100
Rate of GST = 18%
∴ GST = 18% of brokerage
`∴ "GST" = 18/100 × 100`
∴ GST = ₹ 18
Total expenditure on brokerage and tax = 100 + 18 = ₹ 118
∴ Total expenditure on brokerage and tax is ₹ 118.
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RELATED QUESTIONS
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?
Fill in the blanks given in the contract note of sale-purchase of shares.
(B - buy S - sell)
|
No. of
shares
|
MV of
shares
|
Total
value
|
Brokerage
0.2%
|
9% CGST
on
brokerage
|
9% SGST
on
brokerage
|
Total
value of
shares
|
| 100 B | Rs 45 | |||||
| 75 S | Rs 200 |
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