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Question
The total value (with GST) of remote controlled toy car is ₹ 2360. Rate of GST is 18% on toys. Complete the following activity to find the taxable value for the toy car.
Activity:
Total value for toy car with GST = ₹ 2360
Rate of GST = 18%
Let taxable value for toy car be ₹ x
∴ GST = `18/100 xx x`
∴ Total value for toy car = (taxable value for toy car) + `square` .....Formula
∴ 2360 = `square + square/100 xx x`
∴ 2360 = `square/100 xx x`
∴ 2360 x 100 = 118x
∴ `x = (2360 xx 100)/square`
∴ Taxable value for toy car is ₹ `square`
Solution
Total value for toy car with GST = ₹ 2360
Rate of GST = 18%
Let taxable value for toy car be ₹ x
∴ GST = `18/100 xx x`
∴ Total value for toy car = (taxable value for toy car) + GST .....Formula
∴ 2360 = `bbunderline(x)+bbunderline(18)/100 xx x`
∴ 2360 = `bbunderline(118)/100 xx x`
∴ 2360 x 100 = 118x
∴ `x = (2360 xx 100)/bbunderline(118)`
∴ Taxable value for toy car is ₹ 2000
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