Commercial Mathematics – GST & Banking

Intra-state sales: CGST + SGST applied equally on selling price after trade discounts.; Inter-state sales: Only IGST applied (IGST = CGST + SGST).

⚡ Essential Formula / LawCore Syllabus Rule

CGST = SGST = GST / 2 | RD Maturity: MV = P × n + P × [n(n+1)/(2 × 12)] × (r/100)

🎯 High-Yield Syllabus Checkpoints

1Intra-state sales: CGST + SGST applied equally on selling price after trade discounts.
2Inter-state sales: Only IGST applied (IGST = CGST + SGST).
3Input Tax Credit (ITC): Tax paid on purchase is deducted from tax collected on sale.
4Recurring Deposit: Total interest calculated using Equivalent Principal for 1 month.

⚠️ Common Student Pitfall

Forgetting that GST is calculated on the discounted price, not the marked price.

⚠️ Common Student Pitfall

Applying both CGST and SGST on inter-state sales instead of IGST.

⚠️ Common Student Pitfall

Using years instead of months in the RD formula (n must strictly be in months).

Input Tax Credit (ITC)

The tax rebate a registered dealer gets on GST already paid on purchases when depositing output tax to the government.

Maturity Value (MV)

The total amount received by an investor at the end of the term, consisting of total deposits plus cumulative interest.

Spaced Repetition Protocol:

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