ML Aggarwal Solutions GST MCQs for ICSE Class 10 Ch-1

ML Aggarwal Solutions GST MCQs for ICSE Class 10 Ch-1. According to latest guideline of council there will be more questions based on MCQS in Sec-A of Board Exam.

ML Aggarwal Solutions GST MCQs for ICSE Class 10 Ch-1

Therefore Step by step solutions of Ch-1 Goods and Service Tax MCQs of ML Aggarwal Understanding ICSE Mathematics. given below. Visit official Website CISCE  for detail information about ICSE Board Class-10.

ML Aggarwal Solutions Goods and Service Tax MCQs

ICSE Class 10 Ch-1 GST

Board ICSE
Publications Avichal Publishig Company (APC)
Subject Maths
Class 10th
Chapter-1  Goods and Service Tax (GST)
writer ML Aggarwal
Book Name Understanding
Topics Solution of MCQs Questions
Edition 2022-2023

Multiple Choice Questions (MCQs)

ML Aggarwal Solutions GST ICSE Class 10 Ch-1

A retailer purchases a fan for Rs 1500 from a wholesaler and sells t to a consumer at 10%profit if the sales are intra-state and the rate of GST is 12%, then choose the correct answer from the given four options for questions 1 to 6:

Question 1

The selling price of the fan by the retailer (excluding tax) is?

(a) Rs.1500

(b) Rs.1650

(c) Rs. 1848

(d) Rs. 1800

Answer 1

Cost price of fan for retailer = ₹ 1500
Given profit% = 10%
∴ Selling price of fan by the retailer
= C.P. + 10% of C.P.

1500+1500X10⁄100=1650

Question 2

(2.) The selling price of the fan including tax (under GST) by retailer is?

(a) Rs.1650

(b) Rs.1800

(c) Rs.1848

(d) Rs.1830

Answer 2

Given, GST (rate) = 12%

1650X12⁄100=198
Thus, the required selling price of fan including tax by the retailer (under GST)
= S.P. + GST = ₹ (1650 + 198) = ₹ 1848

Question 3

The tax (under GST) paid by the wholesaler to the Central Government is ?

(a)Rs 90

(b)Rs 9

(c)Rs 99

(d) Rs 180

Answer 3

The tax (under GST) paid by wholesaler to Central Government

1500X6⁄100=90
[SGST – CGST = ½ × rate of GST – 6%]

Question 4

The tax (under GST) paid by the retailer to the State Government ?

(a) Rs 99

(b) Rs 9

(c)Rs 18

(d)Rs 198

Answer 4

Amount of input SGST of the retailer = 6% of ₹ 1500

Amount of input SGST of the retailer = 6% of ₹ 1500

Amount of tax (under GST) paid by retailer to State Government = Output SGST – Input SGST

= (99 – 9) = ₹9

Page-18

Question- 5

The tax (under GST) received by the Central Government is ?

(a)Rs 18

(b) Rs 198

(c) Rs 90

(d)Rs 99

Answer- 5

Amount of CGST paid by the retailer = Output CGST – Input CGST

= ₹ (99-90) = ₹9

Thus, amount of tax (under GST) received by Central Government

= CGST paid by distributor + CGST paid by retailer

= (6% of ₹1500) + 9

= 90 + 9 = ₹99

Question -6

The cost of the fan to the consumer inclusive of tax is ?

(a)Rs 1650

(b) Rs 1800

(c)Rs 1830

(4) Rs 1848

Answer -6

Here, selling price of fan = ₹1650

GST on fan = 12% of ₹1650

=1650 x 12⁄100

=198

Thus, cost of a fan to the consumer inclusive of tax
= ₹ (1650+198) = ₹1848

ML Aggarwal Solutions Goods and Service Tax MCQs

A shopkeeper bought a TV from a distributor at a discount of 25% of the listed price of  Rs 32000. The shopkeeper sells the TV to a consumer at the listed price. if the sales are intra-state and the rate of GST la 18%, then choose the correct er from the given four options for questions 7 to 11:

Question -7

The selling price of the TV including tax (under GST?) by the distributor is?

(a) Rs 32000

(b) Rs 24000

(c) Rs 28320

(4) Rs 26160

Answer- 7

It is case of intra state

Discount = 32000 x 25/100

= 8000

SP= 32000-8000

=24000

SP with GST by distributor

24000 + 24000 x 18/100

=28320

Hence option (c) is correct

Question- 8

The tax (under GST) paid by the distributor to the State Government is

(a) Rs 4320

(b) Rs 2160

(c) Rs 2880

(d) Rs 720

Answer -8

Tax (under GST) paid by distributor to the State Government

= SGST = 9% of ₹24000

=24000 x 9⁄100
=2160

Question -9

The tax (under GST) paid by the shopkeeper to the Central Government is?

(a)Rs 720

(b)Rs 1440

(c) Rs 2880

(4)Rs 2160

Answer -9

Amount of input CGST by the shopkeeper,

CGST = ₹2160, SGST = ₹2160

Amount of GST collected by the shopkeeper or paid by the consumer

= 18% of ₹32000

32000 x 18⁄100
=5760

SGST = 5760/2 = ₹2880 = CGST

Amount of CGST paid by shopkeeper to Central Government = Output CGST – Input CGST

= 2880-2160 = ₹720

Question 10

The tax (under GST) received by the State Government is?

(a)Rs 5760

(b) Rs 4320

(c) Rs 1440

(d) Rs 2880

Answer 10

Amount of SGST paid by Shopkeeper to state government = ₹ 720

∴ Total tax (under GST) received by State Government = ₹2160 +₹720 = ₹2880

Question -11

The price including tax (under GST) of the TV paid by the consumer is

(a)Rs 28320

(b) Rs 37760

(c) Rs 34880

(4) Rs 32000

Answer -11

Consumer buy on list price 32000

It is a case of intra-state transaction of goods and services.

SGST = CGST = ½ GST

Given:

The price inclusive of tax (under GST) which the consumer pays for the TV.

CP of an article for shopkeeper = ₹32000

SP  of article = ₹32000 + 18% of ₹32000

= ₹32000 + (18/100) × 32000

or  ₹32000 + 5760

= 37760

Hence option (b) is correct

— : End of ML Aggarwal Solutions GST MCQs Questions for ICSE Class 10 Ch-1 :–


Return to :- ML Aggarwal Solutions for ICSE Class-10

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