NIOS Class 12 Employability Skills Chapter 20 Know Your Tax System – Goods and Services Tax

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NIOS Class 12 Employability Skills Chapter 20 Know Your Tax System – Goods and Services Tax

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Know Your Tax System – Goods and Services Tax

Chapter: 20

Module – IV: Be Your Own Boss

INTEXT QUESTIONS20.1 

1. Read the following statements. Mention if these are direct tax or indirect tax. 

(i) You purchased sweets for Rs 500 from the sweet shop. When you look at the bill it shows the cost of sweets to be Rs 450 and Rs 50 as tax. _______________________________.

Ans: Indirect tax.

(ii) You purchased a flight ticket from Delhi to Banaras. The base fare is Rs 1200 and Rs 200 are charged extra as taxes. The total charges you have to pay are Rs 1400. ______________________.

Ans: Indirect tax.

(iii) You are a pilot and get Rs 50,000 p.m. as salary. You pay Rs 5,000 to the Government as income tax ____________________.

Ans: Direct tax.

INTEXT QUESTIONS 20.2 

Read the following questions and answer them in one word. 

1. In which country did the taxation system start? 

Ans: Egypt.

2. How much share of the crop was given as taxes? 

Ans: 1/6th or 1/8th of production.

3. On which goods were taxes were imposed during British Era? 

Ans: Imported goods.

INTEXT QUESTIONS 20.3 

Read the following passage and answer the questions that follow: 

Sohan is a manufacturer of garments. He has his business in Lucknow. He imports cloth (raw material) from China. He sells the garments to the wholesalers throughout India. He sells garments to five whole sellers in India. His first whole seller has his business in Kanpur, second in Jodhpur, third in Patna, fourth in Agra and fifth in Kerala. 

What all taxes were applicable in the pre-GST era? 

Choose any one- Import duty/CST/VAT 

1. Sohan pays ______________ Tax while purchasing raw material from China. 

Ans: Import duty.

2. Sohan charges ______________ tax while selling the garments to the whole seller in Kanpur. 

Ans: VAT.

3. Sohan charges _____________ tax while selling the garments to the whole seller in Jodhpur. 

Ans: CST.

4. Sohan charges ____________ tax while selling the garments to the whole seller in Patna. 

Ans: CST.

5. Sohan charges ________________ tax while selling the garments to the whole seller in Agra. 

Ans: VAT.

6. Sohan charges______________ tax while selling the garments to the whole seller in Kerala.

Ans: CST.

INTEXT QUESTIONS 20.4 

Read the following passage and answer the questions that follow: 

Sohan is a manufacturer of garments. He is has his business in Lucknow. He imports cloth (raw material) from China. He sells the garments to the whole sellers throughout India. He sells garments to five whole sellers in India. The first whole seller has business in Kanpur, second in Jodhpur, third in Patna, fourth in Agra and fifth in Kerala. 

What all taxes are applicable in the post GST era? Fill in the blanks choosing the right option from brackets. 

1. Sohan pays _____________ Tax while purchasing raw material from China. (CGST/SGST/IGST/UTGST).

Ans: IGST.

2. Sohan charges _____________ tax while selling the garments to the whole seller in Kanpur.(CGST/SGST/IGST/UTGST) 

Ans: CGST and SGST.

3. Sohan charges ____________ tax while selling the garments to the whole seller in Jodhpur. (CGST/SGST/IGST/UTGST)

Ans: IGST.

4. Sohan charges _____________ tax while selling the garments to the whole seller in Patna. (CGST/SGST/IGST/UTGST)

Ans:IGST.

5. Sohan charges ______________ tax while selling the garments to the whole seller in Agra. (CGST/SGST/IGST/UTGST) 

Ans: CGST and SGST.

6. Sohan charges _________ tax while selling the garments to the whole seller in Kerala.(CGST/SGST/IGST/UTGST)

Ans: IGST.

INTEXT QUESTIONS 20.6  

Read the following statements and say whether they are true or false: 

1. Kriti went to the market to purchase sweets. The shopkeeper charged Rs 500 as GST. Out of this Rs 500, Rs 250 will go to Central Government and rest Rs 250 will go to the State Government ____________.

Ans: True.

2. Mohan, a trader of garments, has two shops. One is in Rajasthan and another in Maharashtra. Both the shops earn revenue of Rs 10 Lakhs each. Since, one shop is earning a revenue of Rs 10 lakhs, therefore he is not liable to pay GST ______________.

Ans:  False. Turnover is calculated on all India basis.

3. Sonam (customer) from Kerala, purchased a dress from Sachin (seller) from Delhi for Rs 5,000. She paid GST @ 5% on Rs 5000. The complete amount of GST will be collected by Kerala Government __________.

Ans: 50% of the amount will be deposited to Central Government and 50% to State Government i.e Kerala. Total GST charged is 5% of Rs 5,000 i.e. Rs 250. Rs 125 will be CGST and remaining Rs 125 will be SGST deposited to Kerala Government.