Practice - Key Concepts - 1.1.1
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Practice Questions
Test your understanding with targeted questions
Define Goods and Services Tax.
💡 Hint: Think of it as a tax on sales.
What does CGST stand for?
💡 Hint: It relates to the central government.
4 more questions available
Interactive Quizzes
Quick quizzes to reinforce your learning
What is GST?
💡 Hint: Think about how products are taxed when sold.
CGST is collected by which government?
💡 Hint: Remember the difference between state and central taxes.
2 more questions available
Challenge Problems
Push your limits with advanced challenges
A company far away in another state sells its products for ₹25,000 to a local shop. If the IGST rate is 12%, calculate the total GST and the amount the local shop will need to pay.
💡 Hint: Calculate GST using the sales price and add it to determine the total.
A trader buys goods for ₹50,000 with a CGST of 9% and SGST of 9%. If the total price including tax is his selling point, what is the selling price if he sells at a 10% profit?
💡 Hint: Determine the GST first, then calculate selling price including his desired profit.
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