Q1. If GST is \(12\%\), state CGST and SGST. If taxable value is \(`5600`\), find total GST.

Ans. CGST \(=6\%\), SGST \(=6\%\). Total GST \(=0.12\times 5600=\)`672` (\(\text{CGST}=\text{SGST}=\)`336`).

Q2. A product of taxable value \(`586`\) is charged at \(18\%\) GST. Find the invoice value and split.

Ans. GST \(=0.18\times 586=\)`105.48`; CGST \(=\) SGST \(=\)`52.74`. Invoice value \(=586+105.48=\)`691.48`.

Q3. A toy (with GST) costs \(`1770`\) at \(18\%\). Find taxable value, CGST and SGST.

Ans. Taxable value \(=\dfrac{1770}{1.18}=\)`1500`; CGST \(=9\%\times1500=\)`135`; SGST \(=135`.

Q4. The price (with GST) of an AC is \(`51200`\) at \(28\%\). Find taxable value and GST split.

Ans. Taxable value \(=\dfrac{51200}{1.28}=\)`40000`; total GST \(`11200`\); CGST \(=\) SGST \(=\)`5600`.

Q5. For a laptop of MRP \(`50000`\) less \(10\%\) discount and \(18\%\) GST, find CGST & SGST.

Ans. Taxable \(=50000-10\%\cdot 50000=\)`45000`; CGST \(=9\%\cdot 45000=\)`4050`; SGST \(=4050`.

Q6. Briefly explain ITC with formula.

Ans. Input Tax Credit is the GST paid on purchases allowed to be set off against GST collected on sales. \(\text{GST payable}=\text{Output}-\text{ITC}\).

Q7. If output tax is \(`8000`\) and input tax is \(`6500`\), find GST payable and its split.

Ans. Payable \(=8000-6500=\)`1500`; CGST \(=\) SGST \(=\)`750`.

Q8. Find MV when FV \(`100`\) and premium \(`65`\).

Ans. \(\text{MV}=\text{FV}+\text{Premium}=100+65=\)`165`.

Q9. Neel buys \(50\) shares at MV \(`25`\), FV \(`10`\). Company declares \(30\%\) dividend. Find dividend received.

Ans. Dividend/share \(=30\%\times 10=\)`3`; total \(=50\times 3=\)`150`.

Q10. If MV \(`80`\) and brokerage \(0.5\%\), find cost per share at purchase.

Ans. Brokerage \(=0.005\times 80=\)`0.40`; cost/share \(=80+0.40=\)`80.40`.

Q11. NAV is \(`25`\). Units bought for \(`10000`\)?

Ans. Units \(=\dfrac{10000}{25}=400\).

Q12. Compare profitability: A has MV \(`80`\) dividend \(16\%\); B has MV \(`120`\) dividend \(20\%\) (FV same). Which is better?

Ans. RoR\(_A=\dfrac{16}{80}\cdot100=20\%\); RoR\(_B=\dfrac{20}{120}\cdot100\approx16.67\%\). So A.

Q13. A courier bill: taxable \(`500`\), CGST \(`45`\), SGST \(`45`\). Find GST rate.

Ans. Total GST \(`90`\); Rate \(=\dfrac{90}{500}\times100=18\%\).

Q14. State two benefits of Mutual Funds.

Ans. Professional management & diversification; liquidity; transparency (any two).

Q15. Define B2B and B2C in GST context.

Ans. B2B: GSTIN to GSTIN supply. B2C: GSTIN to consumer (no GSTIN).

Q16. If a watch’s taxable values across chain are \(`200,300,400`\) at \(12\%\), find total GST finally borne by consumer.

Ans. Final invoice GST \(=12\%\times 400=\)`48` (split `24+24`).

Q17. What is UTGST? When is it used?

Ans. Union Territory GST; used instead of SGST in Union Territories.

Q18. SIP of \(`500`\)/month for long term helps primarily in what?

Ans. Rupee-cost averaging and disciplined wealth creation.

Q19. If brokerage is \(0.2\%\) on MV \(`125`\), find brokerage/share and GST on brokerage.

Ans. Brokerage/share \(=0.002\times 125=\)`0.25`; GST \(=18\%\times 0.25=\)`0.045`.

Q20. Write the relation for NAV, units and fund value.

Ans. \(\text{NAV}\times \text{No. of units}=\text{Total fund value}\).

Q1. ‘Pawan Medical’ supplies medicines taxed at \(12\%\). If a bill’s taxable total is \(`5600`\), compute CGST and SGST.

Ans. \(\text{CGST}=6\%\times 5600=\)`336`; \(\text{SGST}=336`.

Q2. A showpiece MRP \(`25000`\) less \(10\%\) discount with GST \(28\%\). Find invoice total and CGST/SGST.

Ans. Taxable \(=22500\). GST \(=0.28\times22500=\)`6300`; CGST \(=\) SGST \(=\)`3150`. Invoice total \(`28800`).

Q3. For AC with GST value \(`51200`\) at \(28\%\): compute taxable value and GST split.

Ans. Taxable \(`40000`); CGST \(=\) SGST \(=\)`5600`; total GST \(`11200`).

Q4. A retailer’s output tax \(`8000`\), input tax \(`6500`\). Find GST payable and CGST/SGST.

Ans. Payable \(`1500`); CGST \(=\) SGST \(=\)`750`.

Q5. Watch trading chain within state: \(`200\to 300\to 400`\) at \(12\%\). Compute GST payable at each stage.

Ans. Manufacturer output \(=24\), pays \(24\). Wholesaler: output \(=36\), ITC \(=24\) ⇒ pays \(12\). Retailer: output \(=48\), ITC \(=36\) ⇒ pays \(12\). (Each split equally into CGST/SGST.)

Q6. A share FV \(`100`\) bought at MV \(`120`\). Dividend \(15\%\). Find rate of return.

Ans. Dividend/share \(`15`\). RoR \(=\dfrac{15}{120}\times 100=12.5\%\).

Q7. Joseph’s portfolio: A) \(200\) shares FV \(`2`\), premium \(`18`\); B) \(45\) shares MV \(`500`\); C) \(1\) share MV \(`10540`\). Find total investment.

Ans. A: MV \(=2+18=20\Rightarrow 200\times 20=4000\). B: \(45\times 500=22500\). C: \(`10540`). Total \(`37040`).

Q8. Amol bought \(50\) shares FV \(`100`\) at MV \(`80`\). Dividend \(20\%\). Find RoR.

Ans. Dividend/share \(`20`\); total \(`1000`\). Invested \(`4000`\). RoR \(=\dfrac{1000}{4000}\times100=25\%\).

Q9. Smt. Deshpande buys FV \(`5`\) at premium \(`20`\) for \(`20000`\). Find number of shares.

Ans. MV \(=25\). Shares \(=\dfrac{20000}{25}=800\).

Q10. Brokerage \(0.5\%\), MV \(`150`\). Find (i) buy cost/share (ii) sell proceeds/share ignoring taxes other than brokerage.

Ans. (i) \(150+0.5\%\cdot 150=150.75\). (ii) \(150-0.5\%\cdot 150=149.25\).

Q11. Brokerage \(0.2\%\) & GST on brokerage \(18\%\) when MV \(`125`\). Find full per-share cost.

Ans. Brokerage/share \(`0.25`\); GST \(`0.045`\); Cost \(=125+0.25+0.045=\)`125.295`.

Q12. MF scheme value \(`200\) crores, units \(=8\) crores. Find NAV, and units for \(`10000`\).

Ans. NAV \(=25\). Units \(=\dfrac{10000}{25}=400\).

Q13. Explain IGST set-off example: IGST input \(`5600`\); Output CGST/SGST \(=3500/3500\). Find payable CGST & SGST.

Ans. First set off IGST against CGST: \(3500-3500=0\). Left IGST credit \(`2100`\) set off against SGST: \(3500-2100=1400\). Payable: CGST \(`0`\), SGST \(`1400`).

Q14. If MV \(`200`\), brokerage \(0.3\%\). Find purchase value/share.

Ans. \(200+0.003\times 200=\)`200.6`.

Q15. A courier taxable \(`500`\). Find CGST and SGST at \(18\%\).

Ans. Total GST \(`90`\); CGST \(=\) SGST \(=\)`45`.

Q16. Show how final consumer bears GST in a trading chain.

Ans. Each trader pays \(\text{Output}-\text{ITC}\); cumulatively equals GST in final invoice which is paid by consumer in total price.

Q17. Distinguish: FV vs MV (any two points).

Ans. FV is printed/nominal; MV fluctuates with demand-supply. Dividend % is on FV; investment amount uses MV.

Q18. Share at premium/discount—give conditions.

Ans. Premium: \( \text{MV}>\text{FV} \). Par: \( \text{MV}=\text{FV} \). Discount: \( \text{MV}<\text{FV} \).

Q19. SIP benefit during volatility?

Ans. Buys more units when NAV is low and fewer when high ⇒ rupee-cost averaging.

Q20. If GST on goods is \(18\%\), how much CGST & SGST appear on invoice?

Ans. CGST \(=9\%\) and SGST \(=9\%\) of taxable value.

Q1. On medicines GST \(=12\%\). Then CGST and SGST rates are?

Ans. \(\text{CGST}=6\%\), \(\text{SGST}=6\%\).

Q2. If CGST rate is \(9\%\), find SGST and total GST.

Ans. \(\text{SGST}=9\%\), \(\text{GST}=18\%\).

Q3. ‘M/s Real Paint’ sold \(2\) tins, taxable each \(`2800`\), GST \(28\%\). Find CGST and SGST in invoice.

Ans. Taxable total \(=5600\). Total GST \(=0.28\times 5600=\)`1568`; CGST \(=\) SGST \(=\)`784`.

Q4. Wrist watch belt taxable \(`586`\) at \(18\%\). Find price for customer.

Ans. GST \(=105.48\) (\(\text{CGST}=\text{SGST}=52.74\)). Invoice value \(=586+105.48=\)`691.48`.

Q5. Toy car total (with GST) \(`1770`\), GST \(18\%\). Find taxable value, CGST, SGST.

Ans. Taxable \(=\dfrac{1770}{1.18}=\)`1500`; CGST \(=\) SGST \(=\)`135`.

Q6. ‘Tiptop Electronics’ AC cost (with GST) \(`51200`\), CGST \(14\%\). Find (i) SGST rate (ii) GST rate (iii) taxable value (iv) total GST (v) CGST (vi) SGST.

Ans. (i) \(14\%\) (ii) \(28\%\) (iii) \(`40000`) (iv) \(`11200`) (v) \(`5600`) (vi) \(`5600`).

Q7. Washing machine MRP \(`40000`\) with \(5\%\) discount; GST \(28\%\). Find purchase price and CGST/SGST.

Ans. Taxable \(=38000\). GST \(=0.28\times 38000=\)`10640`; CGST \(=\) SGST \(=\)`5320`. Purchase price \(`48640`).

Q1. Chetana Store: Input GST \(`100500`\), Output GST \(`122500`\). Find GST payable.

Ans. Payable \(=122500-100500=\)`22000`; CGST \(=\) SGST \(=\)`11000`.

Q2. Nazama paid GST \(`12500`\) and collected \(`14750`\). Find ITC and GST payable.

Ans. ITC \(`12500`); Payable \(=14750-12500=\)`2250`; CGST \(=\) SGST \(=\)`1125`.

Q3. Amir Enterprise paid \(`3800`\) (input) → sold, collected \(`4100`\). Akbari Bros sold to Mayank Food Corner, collected \(`4500`\). Find GST payable at each stage and splits.

Ans. Amir: payable \(=4100-3800=\)`300` ⇒ \(\text{CGST}=\text{SGST}=150\). Akbari: payable \(=4500-4100=\)`400` ⇒ \(200/200\). Mayank as consumer/end user pays but does not file GST; total tax to Govt \(=300+400=\)`700`.

Q4. Chandigarh UT: purchased \(`24500`\), sold \(`26500`\), GST \(5\%\). Find GST payable and split.

Ans. Input \(=0.05\times 24500=\)`1225`. Output \(=0.05\times 26500=\)`1325`. Payable \(=100\). Split: CGST \(`50`), UTGST \(`50`).

Q5. Beauty Products: paid \(18\%\) on \(`6000`\), sold at taxable \(`10000`\). Find CGST and SGST payable.

Ans. Input \(=1080\); Output \(=1800\); Payable \(=720\); CGST \(=\) SGST \(=\)`360`.

Q6. Prepare B2C invoice (Mobile Battery \(`200\), \(12\%\), HSN 8507; Headphone \(`750\), \(18\%\), HSN 8518)). Compute totals.

Ans. Battery: GST \(`24`\) ⇒ total \(`224`). Headphone: GST \(`135`\) ⇒ total \(`885`). Invoice total \(`1109`\) with CGST \(=\) SGST \(= \)`12+67.5 = 79.5` each (i.e., Battery \(12/12\); Headphone \(67.5/67.5\)).

Q7. Prepare B2B invoice (Pencil boxes \(100\) at \(`20`\), HSN 3924, GST \(12\%\); Jigsaw puzzles \(50\) at \(`100`\), HSN 9503, GST \(12\%\)). Compute tax.

Ans. Pencil boxes taxable \(`2000`\), GST \(=240\) (\(120/120\)). Puzzles taxable \(`5000`\), GST \(=600\) (\(300/300\)). Total taxable \(`7000`\); total GST \(`840`\); invoice total \(`7840`).

Q1. Complete: (i) FV \(`10`\), premium \(`7`\) ⇒ MV? (ii) FV \(`25`\), MV \(`16`\) ⇒ state (premium/discount) & amount. (iii) “at par”, MV \(`5`\) ⇒ FV?

Ans. (i) \(\text{MV}=10+7=\)`17`. (ii) Discount of \(`9`\) (since \(25-16\)). (iii) \(\text{FV}= \)`5`.

Q2. Mr. Amol: \(50\) shares FV \(`100`\) at MV \(`80`\). Dividend \(20\%\). Find RoR.

Ans. Dividend/share \(`20`\); total \(`1000`\); invested \(`4000`\); \(\text{RoR}=25\%\).

Q3. Joseph’s investments: A) \(200\) shares FV \(`2`\), premium \(`18`\); B) \(45\) at MV \(`500`\); C) \(1\) at MV \(`10540`\). Find total.

Ans. \(`37040`\) (as in 3-Mark Q7).

Q4. Smt. Deshpande buys FV \(`5`\) at premium \(`20`\) for \(`20000`\). How many shares?

Ans. \(800\) shares.

Q5. Shri Shantilal: \(150\) shares FV \(`100`\) at MV \(`120`\). Dividend \(7\%\). Find RoR.

Ans. Dividend/share \(`7`\); total \(`1050`\); invested \(`18000`\); RoR \(=\dfrac{1050}{18000}\times 100\approx 5.83\%\).

Q6. Which is better if FV same? A: dividend \(16\%\), MV \(`80`\); B: dividend \(20\%\), MV \(`120`\).

Ans. A (RoR \(20\%\) vs \(16.67\%\)).

Q1. MV \(`200`\), brokerage \(0.3\%\). Find purchase value/share.

Ans. \(`200.60`\).

Q2. Share sold at MV \(`1000`\). Brokerage \(0.1\%\). Amount received?

Ans. \(`1000-1=999`\).

Q3. Fill contract note (B=buy, S=sell):
• \(100\) B at MV \(`45`\) with \(0.2\%\) brokerage, \(9\%\) CGST/SGST on brokerage.
• \(75\) S at MV \(`200`\) with same rates.

• Buy: total price \(`4500`\); brokerage \(`9`\); CGST \(`0.81`\); SGST \(`0.81`\); total value \(`4510.62`\).
• Sell: total price \(`15000`\); brokerage \(`30`\); CGST \(`2.70`\); SGST \(`2.70`\); amount received \(`14964.60`\).

Q4. Smt. Desai sold FV \(`100`\) shares at MV \(`50`\); received \(`4988.20`\). Brokerage \(0.2\%\); GST \(18\%\) on brokerage. Find number of shares.

Ans. Net per share \(=50-0.2\%\cdot 50 - 18\%\text{(on brokerage)}=50-0.10-0.018=\)`49.882`. Shares \(=\dfrac{4988.20}{49.882}=100\).

Q5. Mr. D’souza: bought \(200\) shares FV \(`50`\) at premium \(`100`\). Dividend \(50\%\). Sold \(100\) at discount \(`10`\) and \(100\) at premium \(`75`\). Brokerage \(`20`\) per trade. Gain or loss?

Ans. Purchase MV \(`150`\) ⇒ invested \(`30000`\). Dividend per share \(`25`\) ⇒ \(`5000`\). Sale proceeds: \(100\times 40=4000\) and \(100\times 125=12500\) ⇒ \(`16500`\). Less brokerage (\(`20+20=40`\)) ⇒ \(`16460`\). Total receipts \(=16460+5000=\)`21460`. Net loss \(=30000-21460=\)`8540`.

Q1. MCQ Answers: (1)–(6)

• (1) C — \(0\%\)
• (2) B — CGST
• (3) D — 1 July 2017
• (4) B — \(9\%\)
• (5) A — \(15\)
• (6) B — B2B

Q2. Showpiece \(`25000`\) with \(10\%\) discount; GST \(28\%\). Find invoice total and CGST/SGST.

Ans. Taxable \(`22500`\); GST \(`6300`\); CGST \(=\) SGST \(=\)`3150`; Invoice \(`28800`).

Q3. Dress \(`1000`\) less \(5\%\), GST \(5\%\). Purchase price?

Ans. Taxable \(`950`\); GST \(`47.50`\); Total \(`997.50`).

Q4. Intrastate cotton clothes taxable \(`2.5\) lacs\). GST \(5\%\). GST paid by buyer?

Ans. \(`12500`\) (CGST \(`6250`\), SGST \(`6250`\)).

Q5. Solar panels: bought \(`85000`\), sold \(`90000`\) at \(5\%\). Find ITC and GST payable.

Ans. ITC \(`4250`\); Output \(`4500`\); Payable \(`250`\) ⇒ CGST \(`125`\), SGST \(`125`).

Q6. Z-security services taxable \(`64500`\), GST \(18\%\). ITC available \(`1550`\). Find CGST & SGST payable.

Ans. Output \(`11610`\); ITC \(`1550`\); Payable \(`10060`\); CGST \(=\) SGST \(=\)`5030`.

Q7. Walky-Talky invoice (with GST) \(`84000`\) at \(12\%\). Find taxable value and CGST/SGST.

Ans. Taxable \(=\dfrac{84000}{1.12}=\)`75000`; CGST \(=\) SGST \(=\)`4500`.

Q8. Wholesaler: \(150000\to 180000\); Retailer: \(180000\to 220000\); GST \(18\%\). Find payable CGST & SGST for each.

Ans. Wholesaler: output \(32400\), input \(27000\) ⇒ payable \(5400\) ⇒ \(2700/2700\). Retailer: output \(39600\), input \(32400\) ⇒ payable \(7200\) ⇒ \(3600/3600\).

Q9. In Maharashtra: supplier taxable \(`14000`\) at \(28\%\); retailer sells at taxable \(`16800`\). Find (1) CGST/SGST by supplier (2) CGST/SGST charged by retailer (3) retailer’s payable CGST/SGST.

Ans. (1) \(1960/1960\). (2) \(2352/2352\). (3) Payable \(=\) \((2352-1960)/(2352-1960)=392/392\).

Q10. Trading chain taxable: \(`5000 \to 6000 \to 6500`\) at \(12\%\). Prepare Tax Invoices I–III, then compute GST payable at each stage, total paid by consumer, and classify B2B/B2C.

• Invoice I (Wholesaler’s purchase): CGST \(`300`\), SGST \(`300`\), total \(`5600`).
• Invoice II (Distributor’s sale): CGST \(`360`\), SGST \(`360`\), total \(`6720`).
• Invoice III (Retailer’s sale): CGST \(`390`\), SGST \(`390`\), total \(`7280`).
• GST payable: Distributor \(720-600=\)`120` ⇒ \(60/60\); Retailer \(780-720=\)`60` ⇒ \(30/30\).
• Consumer pays \(`7280`\). Invoices I & II are B2B; III is B2C.

Q1. (Shares MCQ) Answers: (1)–(5)

• (1) B — discount of `25`
• (2) B — `5`
• (3) A — `5325`
• (4) C — `18%`
• (5) A — added to MV

Q2. Purchase price of FV \(`100`\) at premium \(`30`\); brokerage \(0.3\%\).

Ans. MV \(`130`\); brokerage \(`0.39`\); purchase price/share \(`130.39`).

Q3. Prashant: \(50\) shares FV \(`100`\), MV \(`180`\), dividend \(40\%\). Find RoR.

Ans. Dividend/share \(`40`\); total \(`2000`\); invested \(`9000`\); RoR \(=\dfrac{2000}{9000}\times100=22.\overline{2}\%\).

Q4. Amount received on selling \(300\) shares FV \(`100`\) at discount \(`30`\).

Ans. MV \(`70`\); total \(`21000`).

Q5. Shares received when \(`60000`\) invested at FV \(`100`\), MV \(`120`\).

Ans. \(\dfrac{60000}{120}=500\) shares.

Q6. Mita Agrawal invested \(`10200`\) at MV \(`100`\). Sold \(60\) at MV \(`125`\) and \(42\) at MV \(`90`\). Brokerage \(0.1\%\) each trade. Profit or loss?

Ans. Shares \(=102\). Sale1 net \(=7500-0.1\%\cdot 7500=7492.50\). Sale2 net \(=3780-0.1\%\cdot 3780=3776.22\). Total received \(`11268.72`). Profit \(=11268.72-10200=\)`1068.72` (profit).

Q7. Which is better? A: MV \(`132`\), dividend \(12\%\); B: MV \(`144`\), dividend \(16\%\) (FV same \(`100`\)).

Ans. RoR\(_A=12/132=9.09\%\), RoR\(_B=16/144=11.11\%\). So B.

Q8. Aditya Sanghavi invested \(`50118`\) when MV \(`50`\); brokerage \(0.2\%\); GST \(18\%\) on brokerage. How many shares?

Ans. Cost/share \(=50+0.10+0.018=\)`50.118`; shares \(=\dfrac{50118}{50.118}=1000\).

Q9. Batliwala sold \(`30350`\) and bought \(`69650`\) same day. Brokerage \(0.1\%\) both sides; GST \(18\%\) on brokerage. Total expenditure on brokerage+GST?

Ans. Sale side: brokerage \(`30.35`\) + GST \(`5.463`\) = \(`35.813`\). Buy side: brokerage \(`69.65`\) + GST \(`12.537`\) = \(`82.187`\). Total \(`118.000`\).

Q10. Aruna Thakkar bought \(100\) shares FV \(`100`\) at MV \(`1200`\), brokerage \(0.3\%\), GST \(18\%\) on brokerage. Find (1) net price of shares (2) brokerage (3) GST on brokerage (4) total paid.

Ans. (1) \(`120000`\) (2) \(`360`\) (3) \(`64.80`\) (4) \(`120424.80`).

Q11. Anagha Doshi bought \(22\) shares at MV \(`660`\). Dividend \(20\%\). Sold all at MV \(`650`\). Brokerage \(0.1\%\) each trade. % profit/loss (nearest integer)?

Ans. Invested \(`14520`\), purchase brokerage \(`14.52`\) ⇒ cost \(`14534.52`\). Dividend \(`440`\). Sale net \(=14300-14.30=\)`14285.70`. Net \(=14285.70+440=14725.70\). Profit \(`191.18`\) ⇒ \(\dfrac{191.18}{14534.52}\times 100\approx 1\%\) profit.