GST Calculations

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Questions and Answers

If the GST rate on a product is 22%, what are the CGST and SGST rates?

  • CGST: 11%, SGST: 22%
  • CGST: 22%, SGST: 0%
  • CGST: 11%, SGST: 11% (correct)
  • CGST: 22%, SGST: 22%

If the CGST on a product is 14%, what is the GST rate?

  • 7%
  • 28% (correct)
  • 14%
  • 21%

A shopkeeper sells an item with a taxable value of ₹ 1200. If the GST rate is 15%, what is the GST amount?

  • ₹ 90
  • ₹ 180 (correct)
  • ₹ 210
  • ₹ 150

An item has a taxable value of ₹ 800, and the GST rate is 12%. What is the final price a customer has to pay, including GST?

<p>₹ 896 (D)</p> Signup and view all the answers

Two items are purchased, each with a price of ₹ 1500. If the GST rate is 8%, what is the total GST amount for both items?

<p>₹ 240 (D)</p> Signup and view all the answers

A retailer buys goods with a taxable value of ₹ 4000. If the GST rate is 5%, what is the total amount including GST that the retailer pays?

<p>₹ 4200 (A)</p> Signup and view all the answers

An article has a taxable value of ₹ 900 and a GST rate of 28%. What are the CGST and SGST amounts?

<p>CGST: ₹ 126, SGST: ₹ 126 (C)</p> Signup and view all the answers

If a product's CGST is ₹ 56, and its SGST is ₹ 56, what is the total GST amount?

<p>₹ 112 (A)</p> Signup and view all the answers

A company sells goods with a taxable value of ₹ 7500. The GST rate is 18%. What is the total invoice value including GST?

<p>₹ 8850 (A)</p> Signup and view all the answers

If the total GST collected on a sale is ₹ 630, what is the amount of CGST collected?

<p>₹ 315 (D)</p> Signup and view all the answers

A product is sold for ₹ 2360 inclusive of GST. If the GST rate is 18%, what was the original taxable value of the product?

<p>₹ 2000 (B)</p> Signup and view all the answers

A retailer purchases an item for ₹ 1000 excluding GST. If the GST rate is 12% and he sells it for ₹ 1500 excluding GST, how much Input Tax Credit (ITC) can he claim?

<p>₹ 120 (C)</p> Signup and view all the answers

An item's price, inclusive of 5% GST, is ₹ 525. What would be the price of the item if the GST was increased to 12%?

<p>₹ 560 (A)</p> Signup and view all the answers

A shop sells a product with a taxable value of ₹ 2000. The CGST is 9% and the SGST is 9%. What is the total amount the buyer will pay?

<p>₹ 2360 (A)</p> Signup and view all the answers

Which element is excluded from the taxable value when determining GST?

<p>GST Amount (D)</p> Signup and view all the answers

If the taxable value of an item is ₹ 600, and the final price after including GST is ₹ 672, what is the GST rate?

<p>12% (A)</p> Signup and view all the answers

A distributor sells items worth ₹ 10,000 to a retailer. The GST rate is 28%. Determine the CGST amount remitted to the central government.

<p>₹ 1,400 (A)</p> Signup and view all the answers

The total cost of a service inclusive of GST at 18% is ₹ 5900. What was the cost of the service before GST was applied?

<p>₹ 5000 (A)</p> Signup and view all the answers

If a retailer purchases goods for ₹ 2500 plus GST at 5%, and sells them for ₹ 3500 plus GST at 12%, what is the net GST payable by the retailer?

<p>₹ 247.5 (C)</p> Signup and view all the answers

Flashcards

What is GST?

Tax levied on the supply of goods and services.

What is CGST?

Central Goods and Services Tax, collected by the central government.

What is SGST?

State Goods and Services Tax, collected by the state government.

How to calculate CGST from GST?

Divide the GST rate by two.

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What is the final price with GST?

Taxable value plus GST amount.

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What is taxable value?

The value of a product or service before adding GST.

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How to calculate GST amount?

GST amount = (GST rate) x (Taxable Value)

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Calculating GST from CGST?

If CGST is known, SGST is the same and GST is their sum.

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