Financial Planning

Q.1 (A)(iii) Rate of GST on brokerage is …………… .

Q.2 (A)(ii) Complete the following table by writing suitable numbers and words.

Activity :

Q.2 (B)(iii) ‘Pawan Medical’ supplies medicines. On some medicines the rate of GST is 12%, then what is the rate of CGST and SGST ?

Q.3 (A)(i) M/s. Jay Chemicals purchased a liquid soap having taxable value ₹ 8,000 and sold it to the consumers for the taxable value ₹ 10,000. Rate of GST is 18%. Find the CGST and SGST payable by M/s. Jay Chemicals.

Activity :

Input Tax \(= 18\%\) of 8000 \(= \dfrac{\text{____}}{100} \times 8000 = \) ₹ ____

\(\therefore\) ITC \(= \) ₹ 1440

Output Tax \(= 18\%\) of 10,000 \(= \dfrac{18}{100} \times \) ____ \(= \) ₹ ____

\(\therefore\) GST payable = Output tax – ____ \(= \) ____ \(- 1440 = \) ₹ 360

\(\therefore\) Payable CGST = ₹ 180 and Payable SGST = ₹ 180 by M/s. Jay Chemicals.

Q.1 (A)(i) Rate of GST on essential commodities is ....................... .

Q.1 (B)(i) On certain article if rate of CGST is 9%, then what is the rate of GST ?

Q.3 (A)(i) Shreekar bought a Laptop with 10% discount on printed price. The printed price of that Laptop was ₹ 50,000. 18% GST was charged on discounted price. Find the amount of CGST and SGST. What amount did Shreekar pay ?

Solution :

Discount \(= 10\%\) of \(50{,}000 = \) ₹ ____
\(\therefore\) Taxable value of Laptop \(= 50{,}000 - \) ____ \(= \) ₹ 45,000
\(\therefore\) Rate of GST \(=\) ____
\(\therefore\) Rate of CGST \(= 9\%\)
\(\therefore\) CGST \(= 9\%\) of \(45{,}000\)
\(= \) ____ \(\times 45{,}000\)
\(= \) ₹ ____
\(\therefore\) SGST \(= \) ₹ 4,050
Total amount of Laptop \(= 45{,}000 + 4{,}050 + 4{,}050 = \) ₹ ____

Q.4 (ii) Smt. Tejaswini purchased 100 shares of FV ₹ 80 when the MV is ₹ 900. She paid brokerage at the rate of 0.5% and 18% GST on brokerage. Find the following :

(1) Net amount paid for 100 shares.
(2) Brokerage paid on sum invested.
(3) GST paid on brokerage.
(4) Total amount paid for 100 shares.

Q.1 (B)(iii) How many alpha numerals are there in the format of GSTIN ?

Q.2 (A)(iii) Pushpmala has invested ₹ 24,000 and purchased share of FV ₹ 20 at a premium of ₹ 4. Complete the following activity to find the number of shares she purchased.

Activity :

FV = ₹ 20
Premium = ₹ 4
MV = FV + ____ = 20 + ____ = ₹ 24
Number of shares = Total investment / MV = 24,000 / ____ = ____ shares.

Q.2 (B)(iv) A share is sold for the market value of ₹ 2,000. Brokerage is paid at the rate of 0.5%. What is the amount received after the sale ?

Q.3 (A)(i) Shri Maniklal has purchased 300 shares of F.V. ₹ 100, for M.V. ₹ 120. Company has paid dividend at 7%. Complete the following activity to find the rate of return on his investment.

Activity :

F.V. = ₹ 100, Number of shares = 300, Market value = ₹ 120

(a) Sum invested = M.V. × No. of shares = ____ × ____ = ₹ 36,000

(b) Dividend per share = F.V. × rate of dividend = 100 × ____ = ₹ 7
Total dividend received = 300 × 7 = ₹ ____

(c) Rate of return = \(\dfrac{\text{Dividend income}}{\text{Sum invested}} \times 100\) = \(\dfrac{2{,}100}{36{,}000} \times 100\) = ____ %.

Q.1 (B)(iii) Face value of one share is ₹ 100 and premium is ₹ 10. Find the market value of the share.

Q.2 (A)(ii) Courier service agent charged total ₹ 590 to courier a parcel from Nashik to Nagpur. In the tax invoice taxable value is ₹ 500 on which CGST is ₹ 45 and SGST is ₹ 45. Complete the following activity to find the rate of GST charged for this service :

Activity :

Total GST = CGST + SGST

\(=\) ____ \(+ 45\)

\(=\) ₹ ____

Rate of GST \(= \dfrac{90}{500} \times\) ____

\(\therefore\) Rate of GST charged by agent is ____ %

Q.2 (B)(iv) Market value of a share is ₹ 200. If the brokerage rate is 0.3%, then find the purchase value of the share.

Q.3 (B)(ii) Shri Shivajirao has purchased 150 shares of F.V. ₹ 100, for M.V. of ₹ 120. Company has paid 7% dividend. Find the rate of return on his investment.

Q.1 (B)(iii) Face value of a share is Rs. 100 and premium is Rs. 65, then what is market value of that share ?

Q.2 (A)(iii) Smita has invested Rs. 12,000 and purchased share of FV Rs. 10 at a premium of Rs. 2. Find the number of shares she purchased. Complete the given activity to get the answer.

Activity :

FV = 10    Premium = Rs. 2

\(\therefore\) MV = FV + ____ = ____ \(+ 2\) \(= \) Rs. 12

\(\therefore\) Number of shares \(= \dfrac{\text{Total investment}}{\text{MV}} = \dfrac{12{,}000}{____} = \) ____ shares.

Q.2 (B)(iv) The taxable value of a wrist watch belt is Rs. 586. Rate of GST is 18%, then what is the price of the belt for the customer ?

Q.2 (B)(v) The annual investments of a family are shown in the following pie diagram. Answer the following questions based on it.

(a) If the investment in the shares is Rs. 2,000, find the total investment.
(b) How much amount is invested in the Post ?

Q.3 (A)(i) A share is sold for the market value of Rs. 1,000. Brokerage is paid at the rate of 0.1%. Find the amount received after sale by completing the activity.

Activity :

Brokerage \(= \) ____ \(\times\) rate of brokerage

\(= 1000 \times \dfrac{0.1}{____}\)

\(= 10 \times 0.1\)

\(= \) ____

Amount received after sale \(= \) MV \(-\) ____

\(= \) ____ \(- 1\)

\(= \) Rs. ____ .

Q.1 (A)(iv) In the format of GSTIN, there are ....................... alpha-numerals.

Q.1 (B)(iii) If the face value of a share is ₹ 100 and market value is ₹ 150. If rate of brokerage is 2%, find brokerage paid on one share.

Q.3 (A)(ii) The total value (with GST) of remote controlled toy car is ₹ 2360. Rate of GST is 18% on toys. Complete the following activity to find the taxable value for the toy car :

Activity :

Total value for toy car with GST = ₹ 2360.

Rate of GST = 18%

Let taxable value for toy car be ₹ \(x\)

\(\therefore \text{GST} = \dfrac{18}{100} \times x\)

\(\therefore\) Total value for toy car = \(\left( \dfrac{\text{taxable value}}{\text{for toy car}} \right) +\) ____ ...... Formula

\(\therefore 2360 =\) ____ \(+ \dfrac{\text{____}}{100} \times x\)

\(\therefore 2360 = \dfrac{\text{____}}{100} \times x\)

\(\therefore 2360 \times 100 = 118x\)

\(\therefore x = \dfrac{2360 \times 100}{\text{____}}\)

\(\therefore\) Taxable value for toy car is ₹ ____

Q.3 (B)(iii) 50 shares of face value ₹ 10 were purchased for market value of ₹ 25. Company declared 30% dividend on the shares, then find :

(1) Sum invested

(2) Dividend received

(3) Rate of return.