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Worksheet: Goods and Services Tax | Mathematics Class 10 ICSE PDF Download

A. Very Short Answer Questions

Q1. The marked price of a shirt is ₹800. A discount of 10% is given. Find the selling price.

Q2. A mobile phone has a marked price of ₹15,000. A dealer offers a discount of 12%. Find the selling price.

Q3. The selling price of a laptop after discount is ₹45,000. If GST is 18%, find the GST amount.

Q4. A refrigerator has a marked price of ₹20,000. A discount of 10% is given, and GST at 12% is applied on the selling price. Find the total price paid by the customer.

Q5. The cost price of a fan is ₹2,000. The shopkeeper sells it at a marked price of ₹2,400 after a discount of 10%. Find the selling price.

B. Short Answer Questions

Q6. Find the GST charged on a washing machine whose selling price after discount is ₹32,000. The GST rate is 18%.

Q7. A TV is marked at ₹50,000. A discount of 20% is offered. GST is charged at 18%. Find the total amount payable.

Q8. The selling price of a fridge is ₹25,000 after discount. If CGST = 9% and SGST = 9%, find the total tax and final price.

Q9. A microwave oven has a marked price of ₹12,000. A discount of 15% is given. If GST at 18% is applied on the selling price, find the total cost to the customer.

Q10. A shopkeeper sells an item for ₹5,000 after discount. If IGST at 18% is applied, what is the total bill?

C. Long Answer Questions

Q11. The selling price of a sofa set is ₹36,000. If CGST = 9% and SGST = 9%, find the final amount payable by the customer.

Q12. A camera is marked at ₹25,000. The shopkeeper gives a discount of 8%. GST is levied at 12%. Find the final bill amount.

Q13. A customer buys a laptop whose selling price is ₹60,000 after discount. If GST is 18%, calculate the amount of CGST and SGST separately.

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FAQs on Worksheet: Goods and Services Tax - Mathematics Class 10 ICSE

1. What is Goods and Services Tax (GST) and how does it work?
Ans. Goods and Services Tax (GST) is a comprehensive tax on the supply of goods and services, right from the manufacturer to the consumer. It is designed to replace multiple indirect taxes levied by the central and state governments. Under GST, the tax is collected at each stage of the supply chain, with the final consumer bearing the cost. Businesses can claim input tax credits for the taxes paid on purchases, which helps avoid the cascading effect of taxes.
2. What are the different types of GST?
Ans. There are three main types of GST: 1. <b>Central Goods and Services Tax (CGST)</b>: Collected by the central government on intra-state sales. 2. <b>State Goods and Services Tax (SGST)</b>: Collected by the state government on intra-state sales. 3. <b>Integrated Goods and Services Tax (IGST)</b>: Collected by the central government on inter-state sales, ensuring seamless flow of credit between states.
3. How is GST calculated?
Ans. GST is calculated based on the value of the goods or services being sold. The formula for calculation is: GST Amount = (Value of Supply) × (GST Rate). The GST rate varies depending on the category of goods or services, often classified into different slabs, such as 5%, 12%, 18%, and 28%. Businesses must ensure they apply the correct rate to avoid penalties.
4. What are the benefits of implementing GST?
Ans. The implementation of GST offers several benefits, including: 1. Simplification of the tax structure by consolidating multiple taxes into a single tax. 2. Reduction in the overall tax burden on goods and services. 3. Enhanced compliance through a transparent tax system. 4. Elimination of the cascading effect of taxes, leading to lower prices for consumers. 5. Increased revenue for the government due to better compliance and reduced tax evasion.
5. Who is required to register for GST?
Ans. Registration for GST is mandatory for businesses whose turnover exceeds a specified threshold limit. Additionally, certain categories of suppliers, such as e-commerce operators, casual taxable persons, and non-resident taxable persons, must also register irrespective of their turnover. Small businesses and service providers may be eligible for a composition scheme, which allows them to pay a lower tax rate without the burden of detailed compliance.
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