Mathematics
The invoice value of a toy is ₹ 4,220 and rate of GST is 5%. Statement (1): GST paid = 5% of ₹ 4,220 Statement (2): The taxable value of the toy = × ₹ 4,220 1. Both the statements are true. 2. Both the statements are false. 3. Statement 1 is true, and statement 2 is false. 4. Statement 1 is false, and statement 2 is true.
Related Questions
The marked price of an article is ₹ 1,000, which is available at a discount of 20% with GST rate 12%.
Assertion (A): The GST on the sale = 12% of discounted value.
Reason (R): The GST on the transaction = (100 - 20 + 12)% of marked price.
A is true, R is false.
A is false, R is true.
Both A and R are true and R is the correct reason for A.
Both A and R are true and R is the incorrect reason for A.
For a trader X, GST paid is ₹ 600 and GST collected is ₹ 720.
Assertion (A): GST paid by the trader to the Government is ₹ 120.
Reason (R): GST deposited with the Government
= Output Tax - Input tax
= GST collected - GST paidA is true, R is false.
A is false, R is true.
Both A and R are true and R is the correct reason for A.
Both A and R are true and R is incorrect reason for A.
Assertion (A) : A dealer in Indore (M.P.) sells goods worth ₹ 75,000 to a dealer in Jaipur (Rajasthan). If the rate of GST is 18%, then the CGST share of Rajasthan is 9% of ₹ 75,000.
Reason (R) : In inter-state transaction, GST is 18% of the whole transaction.
A is true, R is false.
A is false, R is true.
Both A and R are true.
Both A and R are false.
Mrs. Sharma bought the following articles from a departmental store.
Items Marked price Discount Rate of GST Face-cream ₹ 350 12% 12% Hair oil ₹ 720 - 5% Telecom powder ₹ 225 18% 18% Find the :
(i) total GST paid
(ii) total billing amount including GST.