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Goods and Service Tax — Flashcards

ICSE · Class 10 · Mathematics

25 flashcards for Goods and Service Tax (ICSE Class 10 Mathematics) to test yourself on key terms and facts. Sample: "A dealer buys goods for ₹2,000.

41 questions25 flashcards2 formulas & key relations5 concepts

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A diagram illustrating the flow of goods, money, and GST (CGST + SGST) within the same state, showing the dealer paying input GST and collecting output GST, with the net GST going to the government.
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One of 5 illustrations for Goods and Service Tax in Super Tutor — alongside flashcards, concept maps and practice questions.

25 Flashcards·
Net GST paidTypes of GSTInput tax credit
Card 1Net GST paid

A dealer buys goods for ₹2,000 and sells them for ₹2,500. If GST rate is 12%, find the input GST, output GST, and net GST paid.

Answer

Step 1: Input GST = 12% of 2000 = 240. Step 2: Output GST = 12% of 2500 = 300. Step 3: Net GST paid = Output GST - Input GST = 300 - 240 = 60. Answer: Input GST = ₹240, Output GST = ₹300, Net GST paid…

Card 2Net GST paid

A product has purchase price ₹800 and selling price ₹1,000. GST rate is 5%. Find net GST paid using the value addition method.

Answer

Step 1: Value addition = Selling Price - Purchased price = 1000 - 800 = 200. Step 2: Net GST paid = GST on value addition = 5% of 200 = 10. Step 3: Check using formula: Net GST paid = Output GST - Inp…

Card 3Net GST paid

Solve: GST on purchased price ₹1,200 at 18% and selling price ₹1,500 at 18%. Find the net GST paid.

Answer

Step 1: Input GST = 18% of 1200 = 216. Step 2: Output GST = 18% of 1500 = 270. Step 3: Net GST paid = 270 - 216 = 54. Answer: Net GST paid = ₹54.

Card 4Net GST paid

A dealer purchases goods for ₹4,000 and sells them for ₹5,000. GST rate is 28%. Find the net GST paid.

Answer

Step 1: Output GST = 28% of 5000 = 1400. Step 2: Input GST = 28% of 4000 = 1120. Step 3: Net GST paid = 1400 - 1120 = 280. Answer: ₹280.

Card 5Types of GST

When is CGST and SGST charged instead of IGST? Give a worked example.

Answer

CGST and SGST are charged on intra-state sales, that is, sales within the same state or union territory. Example: If a dealer sells goods within the same state, GST is divided equally between Centre a…

Card 6Types of GST

A sale happens outside the state. Which tax applies and why?

Answer

Inter-state sales are sales outside the state or union territory. Such sales attract IGST only. IGST goes to the Central government only. So for an inter-state sale, CGST and SGST are not charged.

Card 7Input tax credit

A dealer pays CGST input of ₹180 and SGST input of ₹180. Can CGST input be used to pay SGST output? Explain.

Answer

No. CGST credited cannot be set off against SGST or UTGST, and SGST or UTGST credited cannot be set off against CGST. CGST input is first used against CGST output, and SGST input is first used against…

Card 8Input tax credit

Input CGST = ₹250 and CGST output = ₹400. Find how much CGST credit is used and how much still remains.

Answer

Step 1: Input CGST is first set off against CGST output. Step 2: CGST output = 400 and input CGST = 250. Step 3: Entire ₹250 credit is used. Step 4: Remaining CGST output to be paid = 400 - 250 = 150.

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Frequently Asked Questions

What are the important topics in Goods and Service Tax for ICSE Class 10 Mathematics?
Key topics in Goods and Service Tax include Basics of GST, Types of Sales and Types of GST, Input GST, Output GST, and Set-off Rules, Problem-Solving Pattern. Study these first, then practise questions on each for the ICSE Class 10 board exam.
How many flashcards are available for Goods and Service Tax?
There are 25 flashcards for Goods and Service Tax covering key definitions, facts and ideas. A few sample cards are shown on this page.
How should I revise Goods and Service Tax for the ICSE Class 10 board exam?
Learn the core ideas first, then work through the 41 practice questions on Goods and Service Tax. Revise definitions regularly and use flashcards for quick recall before the exam.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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