7.3 - Sales Tax/Value Added Tax/Goods and Services Tax
Enroll to start learning
You’ve not yet enrolled in this course. Please enroll for free to listen to audio lessons, classroom podcasts and take practice test.
Practice Questions
Test your understanding with targeted questions
What is the sales tax on an item priced at ₹200 with a tax rate of 10%?
💡 Hint: Calculate 10% of 200.
If an item priced at ₹1,000 includes a 5% sales tax, what was the original price?
💡 Hint: Use the formula: Price / (1 + tax rate).
4 more questions available
Interactive Quizzes
Quick quizzes to reinforce your learning
What does GST stand for?
💡 Hint: Think about the components of what GST covers.
True or False: VAT is collected only at the final point of sale.
💡 Hint: Recall how VAT is applied in the production chain.
1 more question available
Challenge Problems
Push your limits with advanced challenges
You bought a furniture set for ₹22,000 that included a total tax of 15%. Find the price before tax was included.
💡 Hint: Remember to use the formula for calculating the base price before tax.
If a laptop costs ₹60,000 including an 18% GST, determine how much GST is included in that price.
💡 Hint: Use the percentages as fractions for this calculation.
Get performance evaluation
Reference links
Supplementary resources to enhance your learning experience.