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Important Questions

Goods and Service Tax — Important Questions

ICSE · Class 10 · Mathematics

41 important questions from Goods and Service Tax for ICSE Class 10 Mathematics, with answers. Includes multiple choice and multiple correct questions.

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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41 Questions·
multiple choicemultiple correct

Important Questions from Goods and Service Tax

1multiple correct

Which of the following are correct about inter-state sales? (Select all correct options)

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IGST is levied, Tax goes to Central government

In inter-state sales, only IGST (Integrated GST) is levied, and it goes entirely to the Central government. CGST and SGST are not applicable for inter-state transactions.

2multiple choice

An item costs ₹5,000 after 20% discount. If 18% GST is added, what was the original marked price?

Show answer

₹6,250

Let marked price be x. After 20% discount: x - 20% of x = 0.8x = ₹5,000. Therefore, x = ₹5,000 ÷ 0.8 = ₹6,250. (GST is added after discount, so it doesn't affect the marked price calculation.)

3multiple choice

A shopkeeper buys an item for ₹1,000 and wants to make 25% profit. If GST is 12%, what should be the selling price (including GST)?

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₹1,400

Desired selling price (without GST) = ₹1,000 + 25% profit = ₹1,000 + ₹250 = ₹1,250. With 12% GST: ₹1,250 + (12% of ₹1,250) = ₹1,250 + ₹150 = ₹1,400.

4multiple choice

Which GST rate applies to luxury items?

Show answer

28%

According to GST rate structure, luxury items are taxed at the highest rate of 28%. Other rates are: 0% for essential items, 5% for common items, 12% for standard rate, and 18% for maximum goods and services.

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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 important questions are there in Goods and Service Tax?
Super Tutor has 41 practice questions for Goods and Service Tax, including multiple choice, multiple correct questions. A sample with answers is on this page.

Sources & Official References

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

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All ICSE Class 10 Mathematics Important Questions

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