Balbharati Maharashtra State Board11th Commerce Maths Solution Book PdfChapter 9 Commercial Mathematics Ex 9.6 Questions and Answers.
Maharashtra State Board 11th Commerce Maths Solutions Chapter 9 Commercial Mathematics Ex 9.6
Question 1
Maharashtra Board Solution
M/s Janaseva sweet mart sold sweets of ₹ 3,86,000. What CGST and SGST he will pay if the rate of GST is 5%?
Solution & Step-by-Step Answer:
Given that M/s Janaseva sweet mart sold sweets of ₹ 3,86,000 ∴ Bill amount = ₹ 3,86,000 GST payable at the rate 5% ∴ CGST and SGST applicable is 2.5% each ∴ CGST on the bill = × 3,86,000 = ₹ 9650 and SGST on the bill = × 3,86,000 = ₹ 9650
Question 2
Maharashtra Board Solution
Janhavi Gas Agency purchased some gas cylinders for ₹ 5,00,000 and sold them to the customers for ₹ 5,90,000. Find the amount of GST payable and the amount of ITC. 5% GST is applicable.
Solution & Step-by-Step Answer:
Given that, Janhavi Gas Agency purchased some gas cylinders for ₹ 5,00,000 and GST applicable is 5%. ∴ Input tax (ITC) = 5% of 5,00,000 = × 5,00,000 = ₹ 25,000 Janhavi Gas Agency sold the gas cylinders for ₹ 5,90,000 ∴ Output tax for Janhavi Gas Agency = 5% of 5,90,000 = × 5,90,000 = ₹ 29,500 GST payable = Output tax – Input tax (ITC) = 29,500 – 25,000 = ₹ 4500 ∴ GST payable for Janhavi Gas Agency is ₹ 4,500 and ITC is ₹ 25,000.
Question 3
Maharashtra Board Solution
A company dealing in mobile phones purchased mobile phones worth ₹ 5,00,000 and sold the same to customers at ₹ 6,00,000. Find the amount of ITC and amount of GST if the rate of GST is 12%.
Solution & Step-by-Step Answer:
Given that the rate of GST applicable is 12%. The company purchased mobile phones worth ₹ 5,00,000. ∴ Input tax (ITC) = 12% of 5,00,000 = × 5,00,000 = ₹ 60,000 The company dealing in mobile phones sold the same to customers at ₹ 6,00,000. ∴ Output tax of the company = 12% of 6,00,000 = × 6,00,000 = ₹ 72,000 GST payable for the company = Output tax – Input tax (ITC) = 72,000 – 60,000 = ₹ 12,000 ∴ The ITC for the company is ₹ 60,000 and GST payable is ₹ 12,000.
Question 4
Maharashtra Board Solution
Prepare business to customers (B2C) tax invoice using given information. Write the name of supplier, address, state, Date, Invoice Number, GSTIN etc. as per your choice Supplier: ___________ Address: ___________ State: ___________ Date: ___________ Invoice No: ___________ GSTIN: ___________ Particular: Rate of Sarees – ₹ 2750 Rate of GST 5% HSN 5407 – 2 pcs Rate of Kurta – ₹ 750 Rate of GST 12% HSN 5408
Solution & Step-by-Step Answer:
Supplier: M/s Swaglife Fashions Address: 143, Shivaji Rasta, Mumbai 400001 Mobile No. 9263692111 Email: [email protected] State: Maharashtra Date: 31/08/19 Invoice No: GST/110 GSTIN: 27ABCDE1234HIZS ∴ Rate of 1 saree = ₹ 2750 ∴ Rate of 2 sarees = 2 x 2750 = ₹ 5500 ∴ GST on sarees = 12% of 5500 = × 5500 = ₹ 660 ∴ CGST = SGST = ₹ 330 ∴ Rate of 1 Kurta = ₹ 750 ∴ GST on Kurta = 12% of 750 = × 750 = ₹ 90 ∴ CGST = SGST = ₹ 45
Question 5
Maharashtra Board Solution
Heena Enterprise sold cosmetics worth ₹ 25,000 to Leena traders, a retailer. Leena Traders sold it further to Meena Beauty Products for ₹ 30,000. Meena Beauty Product sold it further to the customers for ₹ 40,000. The rate of GST is 18%. Find (i) GST Payable by each party (ii) CGST and SGST
Solution & Step-by-Step Answer:
The trading chain, ∴ Output tax for Heena Enterprises = 18% of 25,000 = × 25,000 = ₹ 4,500 ∴ GST payable by Heena Enterprises Now output tax for Leena traders = 18% of 30,000 = × 30,000 = ₹ 5,400 ∴ GST payable by Leena traders = Output tax – Input tax = 5,400 – 4,500 = ₹ 900 ∴ Output tax for Meena beauty products = 18% of 40,000 = × 40,000 = ₹ 7,200 ∴ GST payable by Meena beauty products = Output tax – Input tax = 7,200 – 5,400 = ₹ 1,800
(ii) Now, CGST = SGST = = 9%
∴ Statement of GST payable at each stage can be tabulated as:
Question 6
Maharashtra Board Solution
‘Chitra furnishings’ purchased tapestry (curtain cloth) for ₹ 28,00,000 and sold for ₹ 44,80,000. Rate of GST is 5%. Find (i) Input Tax (ii) Output Tax (iii) ITC (iv) CGST and SGST
Solution & Step-by-Step Answer:
Given, that ‘Chitra furnishings’ purchased tapestry (curtain cloth) for ₹ 28,00,000 and rate of GST is 5% (i) Input tax = 5% of 28,00,000 = × 28,00,000 = ₹ 1,40,000 The tapestry was sold at ₹ 44,80,000
(ii) Output tax = 5% of 44,80,000
= × 44,80,000
= ₹ 2,24,000
(iii) Now ITC = Input tax = ₹ 1,40,000
GST payable = Output tax – ITC
= 2,24,000 – 1,40,000
= ₹ 84,000
(iv) CGST = SGST =
=
= ₹ 42,000
∴ CGST = SGST = ₹ 42,000
Question 7
Maharashtra Board Solution
Two friends ‘Aditi’ and ‘Vaishali’ went to a restaurant. They ordered 2 Masala Dosa costing ₹ 90 each 2 coffee costing ₹ 60 each and 1 sandwich costing ₹ 80. GST is charged at 5%. Find the Total amount of the bill including GST.
Solution & Step-by-Step Answer:
Aditi and Vaishali ordered for 2 Masala Dosas, 2 Coffees and 1 Sandwich ∴ Total price of their order = 2 × 90 + 2 × 60 + 80 = ₹ 380 GST is charged at 5% ∴ GST on the total order = 5% × 380 = × 380 = ₹ 19 ∴ Total bill amount including GST = 380 + 19 = ₹ 399