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Question
Students purchase some goods on the shop. The teacher and students discuss those goods, maximum retail price, purchasing price, or GST.
Solution
| Name of the Product | MRP (in 2) | Purchasing price | SGST (in ₹) | CGST (in ₹) |
| Boost Health, energy drink (750 gm) GST-18% | 306.00 | 259.32 | 23.34 (9%) | 23.34 (9%) |
| 3 Roses Natural care (500 gm) GST 5% | 320.00 | 304.76 | 7.6 (2.5%) | 7.6 (2.5%) |
| Black Pepper (100 gm) GST-5% | 146.00 | 139.05 | 3.48 (2.5%) | 3.48 (2.5%) |
| Jaggery (900 gms) GST-0% | 74.00 | 74.00 |
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RELATED QUESTIONS
Write short note on Goods and Service Tax.
The taxes on properties are collected by ______ Governments.
The act of GST was passed in the parliament on 29th March ______.
Write a short note on Excise duty.
Differentiate between progressive taxation and proportional taxation.
What type of tax is the Goods and Services Tax?
Draw a neat labelled diagram for progressive taxation.
- What type of tax is this?
- When do we pay this tax?
Assertion (A): Goods and Services Tax (GST) is an indirect tax.
Reason (R): The impact and the incidence of tax are on two different person.
Assertion (A): The rate of tax increases to a certain limit and then becomes constant.
Reason (R): This system is a combination of progressive tax and regressive tax.
