Maharashtra Board Class 10 Maths Chapter 4 Financial Planning Set 4.1 Solutions

Question 1. 'Pawan Medical' supplies medicines. On some medicines the rate of GST is 12%, then what is the rate of CGST and SGST?
Answer:
Rate of GST = 12%
Rate of CGST = Rate of SGST = \(\frac{\text{Rate of GST}}{2}\)
\( = \frac{12}{2} = 6\%\)
Rate of CGST = Rate of SGST = 6%
In simple words: CGST and SGST are central and state GST components, each half of the total GST rate. If GST is 12%, both CGST and SGST will be 6% each.

🎯 Exam Tip: Remember that CGST and SGST rates are always half of the total GST rate for any good or service. This is a fundamental concept in GST calculations.

Question 2. On certain article if rate of CGST is 9% then what is the rate of SGST? and what is the rate of GST?
Answer:
Rate of CGST = 9%
But, rate of SGST = rate of CGST
... Rate of SGST = 9%
Rate of GST = Rate of SGST + Rate of CGST = 9% + 9%
... Rate of GST = 18%
In simple words: Since CGST and SGST are always equal, if CGST is 9%, then SGST is also 9%. The total GST is the sum of CGST and SGST, making it 18%.

🎯 Exam Tip: This question tests your understanding of the relationship between CGST, SGST, and the total GST. Clearly state the equality of CGST and SGST as the first step.

Question 3. 'M/s. Real Paint' sold 2 tins of lustre paint and taxable value of each tin is Rs. 2800. If the rate of GST is 28%, then find the amount of CGST and SGST charged in the tax invoice.
Answer:
Taxable value of 1 tin = Rs. 2800
... Taxable value of 2 tins = \(2 \times 2800\)
= Rs. 5600
Rate of GST = 28 %
.. Rate of CGST = Rate of SGST = 14%
CGST = 14% of taxable value
\( = \frac{14}{100} \times 5600\)
.. CGST = Rs. 784
.. SGST = CGST = Rs. 784
.. The amount of CGST and SGST charged in the tax invoice is Rs. 784 each.
In simple words: First, calculate the total taxable value for 2 tins. Then, determine the CGST and SGST rates by halving the GST rate. Finally, calculate the amount of CGST and SGST based on their respective rates and the total taxable value.

🎯 Exam Tip: Pay attention to the number of items sold. Always calculate the total taxable value before applying GST rates to find the individual CGST and SGST amounts.

Question 4. The taxable value of a wrist watch belt is Rs. 586. Rate of GST is 18%. Then what is price of the belt for the customer?
Answer:
Taxable value of wrist watch belt = Rs. 586
Rate of GST = 18%
.. GST = 18% of taxable value
\( = \frac{18}{100} \times 586\)
.. GST = Rs. 105.48
.. Amount paid by customer = Taxable value of wrist watch belt + GST
\( = 586 + 105.48\)
\( = \text{Rs. } 691.48\)
.. The price of the belt for the customer is Rs. 691.48.
In simple words: To find the total price for the customer, first calculate the GST amount on the taxable value. Then, add this GST amount to the original taxable value.

🎯 Exam Tip: The price for the customer is always the taxable value plus the total GST. Ensure your calculations for GST are accurate before adding it to the taxable value.

Question 5. The total value (with GST) of a remote-controlled toy car is Rs. 1770. Rate of GST is 18% on toys. Find the taxable value, CGST and SGST for this toy-car.
Answer:
Let the amount of GST be x.
Total value of remote controlled toy car = Rs. 1770
.. Taxable value of remote controlled toy car = Rs. \((1770 – x)\)
Now, GST = 18% of taxable value
.. \(x = \frac{18}{100} \times (1770-x)\)
.. \(100x = 18(1770-x)\)
.. \(100x = 18 \times 1770 - 18x\)
.. \(100x + 18x = 18 \times 1770\)
.. \(118x = 18 \times 1770\)
.. \(x = \frac{18 \times 1770}{118}\)
\( = 18 \times 15 = 270\)
GST = Rs. 270
Taxable value of remote controlled toy car
\( = (1770-x)\)
\( = (1770-270)\)
\( = \text{Rs. } 1500\)
But, CGST = SGST = \(\frac{\text{GST}}{2}\)
CGST = SGST = \(\frac{270}{2} = 135\)
.. Taxable value of toy car is Rs. 1500 and CGST and SGST for it is Rs. 135 each.
In simple words: When the total value *with* GST is given, set up an equation where GST (x) is 18% of the taxable value (Total value - x). Solve for x (GST), then find the taxable value, and finally calculate CGST and SGST by halving the GST amount.

🎯 Exam Tip: This problem requires working backward from the total value including GST. Setting up the equation correctly is crucial; remember that GST is calculated on the taxable value, not the total value with GST.

Question 6. 'Tiptop Electronics' supplied an AC of 1.5 ton to a company. Cost of the AC supplied is Rs. 51,200 (with GST). Rate of CGST on AC is 14%. Then find the following amounts as shown in the tax invoice of Tiptop Electronics.
(i) Rate of SGST
(ii) Rate of GST on AC
(iii) Taxable value of AC
(iv) Total amount of GST
(v) Amount of CGST
(vi) Amount of SGST
Answer:
(i) Rate of CGST = 14%
But, Rate of SGST = Rate of CGST
... Rate of SGST = 14%
(ii) Rate of GST on AC
= Rate of SGST + Rate of CGST
= 14% + 14% = 28%
... Rate of GST on AC is 28%.
(iii) Let the cost (Taxable value) of AC be Rs. 100.
Given, GST = 28%
.. The cost of AC with GST is Rs. 128.
For the total value of Rs. 128, the taxable value is Rs. 100.
For the total value of Rs. 51200, let the taxable value be x
Since, \( \frac{\text{total value}}{\text{taxable value}} = \text{constant, as rate of GST} \)
is same
\( \frac{51200}{x} = \frac{128}{100} \)

\( \implies x = \frac{51200 \times 100}{128} \)
\( = \text{Rs. } 40000.\)
.. Taxable value of AC is Rs. 40,000.
(iv) Total amount of GST = 28% of taxable value
\( = \frac{28}{100} \times 40000\)
\( = \text{Rs. } 11,200\)
.. Total amount of GST is Rs. 11,200.
.. Amount of CGST is Rs. 5600.
(v) CGST = \(\frac{\text{GST}}{2}\)
\( = \frac{11200}{2}\)
\( = \text{Rs. } 5600\)
Amount of CGST is Rs. 5600.
(vi) Amount of SGST = Amount of CGST
\( = \text{Rs. } 5600\)
Amount of SGST is Rs. 5600.
In simple words: This multi-part problem involves calculating various GST components. Start by finding SGST (equal to CGST), then total GST. Use proportional reasoning to find the taxable value from the given total cost with GST. Finally, calculate the total GST amount, then half it for CGST and SGST.

🎯 Exam Tip: This question requires systematic calculations of all components of GST. Organize your solution clearly, addressing each sub-part separately to ensure full credit.

Question 7. Prasad purchased a washing-machine from 'Maharashtra Electronic Goods'. The discount of 5% was given on the printed price of Rs. 40,000. Rate of GST charged was 28%. Find the purchase price of washing machine. Also find the amount of CGST and SGST shown in the tax invoice.
Answer:
Printed price of washing machine = Rs. 40,000
Rate of discount = 5%
Amount of discount = 5% of printed price
\( = \frac{5}{100} \times 40000 = \text{Rs. } 2000\)
.. Taxable value = Printed price – Discount
\( = 40000 - 2000 = \text{Rs. } 38000\)
Rate of GST = 28%
.. Rate of CGST = 14% and
Rate of SGST = 14%
CGST = 14% of taxable value
\( = \frac{14}{100} \times 38000\)
.. CGST = Rs. 5320
.. CGST = SGST = Rs. 5320
Purchase price of washing machine
= Taxable value + CGST + SGST
\( = 38000 + 5320 + 5320\)
\( = \text{Rs. } 48,640\)
.. Purchase price of washing machine is Rs. 48640. Amount of CGST and SGST in tax invoice is Rs. 5320 each.
In simple words: First, calculate the discount amount from the printed price to find the taxable value. Then, apply the GST rate to the taxable value to find the total GST, which is then split into CGST and SGST. The final purchase price is the taxable value plus the total GST.

🎯 Exam Tip: This problem involves a discount before GST application. Make sure to calculate the taxable value *after* the discount, as GST is levied on this reduced price, not the original printed price.

Question 1. Observe the given bill and fill in the boxes with the appropriate number. (Textbook pg. no. 82 and 83)
Answer:

Tax invoice of goods purchase(Sample)

GSTIN: 27ABCDE1234H1Z5

SUPPLIER: A to Z SWEET MART
143, Shivaji Rasta, Mumbai: 400001 Maharashtra
Mob. No. 92636 92111 email: atoz@gmail.com

Invoice No. GST/110                Invoice Date: 31-Jul-2017

i. Price of 1 kg of Pedhe is Rs. 400, therefore cost of 500 gm. of Pedhe is Rs. 200. CGST for pedhe at the rate of 2.5% is Rs. [5] and SGST at the rate of [2.5] % is Rs. 5.00. It means that the rate of GST on Pedhe is 2.5% + 2.5% = 5% and hence the total GST is Rs. 10.
ii. The rate of GST on chocolate is [28] % and hence the total GST is Rs. [22.40]
iii. Rate of GST on Ice-cream is [18] %, hence the total cost of ice-cream is Rs. 236
iv. On butter CGST rate is [6] % and SGST rate is also [6] %. So GST rate on butter is [12]%.'
In simple words: This task requires carefully observing the provided tax invoice and filling in the blanks. Analyze each item's price, quantity, tax components (CGST, SGST), and total to deduce the missing rates or values.

🎯 Exam Tip: When dealing with invoices, cross-reference all given values (rate, quantity, taxable amount, CGST, SGST) to ensure consistency. Remember that CGST rate equals SGST rate, and their sum is the total GST rate.

Question 2. Fill in the blanks with the help of given information for the table given below. (Textbook pg. no. 83)
Answer:

Tax invoice of services provided (Sample)

Food Junction, Khed-Shivapur, Pune

Invoice No. 58

Mob. No. 7588580000 email: ahar.khed@yahoo.com

GSTIN: 27 AAAAA5555B1ZA                Invoice Date: 25-Dec-2017

In simple words: This problem involves completing a services invoice table. For each service, you need to calculate the CGST and SGST amounts based on the given rate and taxable value, and then sum all components to get the total.

🎯 Exam Tip: Pay close attention to unit rates and quantities. For services, ensure CGST and SGST are accurately calculated as half of the total GST rate for each item, then sum to find the grand total.

Question 3. Make a list of ten things you need in your daily life. Find the GST rates with the help of GST rate chart given in the textbook, news papers or books, internet, or the bills of purchases. Verify these rates with the list prepared by your friends. (Textbook pg. no. 85)
Answer:

In simple words: This activity requires you to identify common daily use items and research their applicable GST rates using various resources like textbooks, news, or bills. This helps in understanding the practical application of GST.

🎯 Exam Tip: While this is an activity, for exam purposes, understanding *how* to find GST rates and recognizing common rates for essential goods is valuable. Knowing which items have 0% GST (like newspapers) can be a quick point.

Question 4. Make a list of ten services and their GST rates as per activity 1. (e.g. Railway and ST bus booking services etc.) You can also collect service bills and complete the given information (Textbook pg. no. 85)
Answer:

In simple words: Similar to goods, this activity involves listing various services used daily and identifying their corresponding GST rates from available resources. This helps in comprehending how GST applies to the service sector.

🎯 Exam Tip: Understanding the different GST slabs (5%, 12%, 18%, 28%) and which services typically fall into each category is important. For example, transport services often have lower GST, while luxury services or specific goods might have higher rates.

Question 5. Complete the given table by writing remaining SAC and HSN codes with rates and add some more items in the list. (Textbook pg, no. 85)
Answer:

In simple words: This activity involves completing a comprehensive table of services and goods, including their respective SAC (Service Accounting Code) or HSN (Harmonized System of Nomenclature) codes and GST rates. It demonstrates the detailed classification system under GST.

🎯 Exam Tip: While memorizing all SAC/HSN codes isn't expected, understanding their purpose (categorizing goods and services for uniform taxation) and how GST rates vary across different categories is important for a strong conceptual grasp.