[Class 8] Check if the calculations are correct in the bill shown - Taxes

part 2 - Question 1 - Page 19 - Taxes - Chapter 1 Class 8 - Fractions in Disguise (Ganita Prakash II) - Class 8 (Ganita Prakash - 1, 2 & Old NCERT)
part 3 - Question 1 - Page 19 - Taxes - Chapter 1 Class 8 - Fractions in Disguise (Ganita Prakash II) - Class 8 (Ganita Prakash - 1, 2 & Old NCERT) part 4 - Question 1 - Page 19 - Taxes - Chapter 1 Class 8 - Fractions in Disguise (Ganita Prakash II) - Class 8 (Ganita Prakash - 1, 2 & Old NCERT) part 5 - Question 1 - Page 19 - Taxes - Chapter 1 Class 8 - Fractions in Disguise (Ganita Prakash II) - Class 8 (Ganita Prakash - 1, 2 & Old NCERT)

Remove Ads Share on WhatsApp

Transcript

Question 1 - Page 19 Check if the calculations are correct in the bill shown.Step 1: Calculate the Cost of Items Item: CFL Bulb Quantity (Qty): 3 Price per bulb: โ‚น 150.00 First, we find the total cost of the bulbs before tax. ๐Ÿ‘" bulbs "ร—โ‚น๐Ÿ๐Ÿ“๐ŸŽ=โ‚น๐Ÿ’๐Ÿ“๐ŸŽ Check the bill: The "Amount" column says โ‚น450.00. This is correct. Step 2: Calculate the Taxes The bill adds two taxes on top of the โ‚น450. A. Calculating CGST (๐Ÿ—%) We need to find 9% of 450 . 9% of 450 = 9% ร— 450 = ๐Ÿ—/๐Ÿ๐ŸŽ๐ŸŽ ร— 450 = 9/10 ร— 45 = 9/2 ร— 9 = 81/2 = 40.5 So, the CGST is โ‚น40.50. Check the bill: The bill says CGST ๐Ÿ—% is โ‚น40.50. This is correct. B. Calculating SGST ( ๐Ÿ—% ) Since the percentage is the same ( 9% ), the amount will be the same as above. So, the SGST is also โ‚น40.50. Check the bill: The bill says SGST 9% is โ‚น40.50. This is correct. Step 3: Calculate the Total Bill Now, we add the Cost of items + CGST + SGST to find the final amount you have to pay. Cost of Bulbs: โ‚น450.00 Add CGST: + โ‚น40.50 Add SGST: + โ‚น40.50 Now, Let's add the taxes first: 40.50+40.50=81.00. Now add that to the subtotal: 450+81=531 Total = โ‚น531.00 Check the bill: The bill shows a TOTAL of โ‚น531.00. Final Answer Is the calculation correct? Yes, the calculations in the bill shown are perfectly correct.

CA Maninder Singh's photo - Co-founder, Teachoo

Made by

CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 16 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.