Fill in the blanks given in the contract note of sale-purchase of shar

Fill in the blanks given in the contract note of sale-purchase of shares.(B – buy S – sell)No. of shares100 B72 SMV of shareRs. 45Rs. 200Total valueBrokerage 0.2 %9% CGST on brokerage9% SGST on brokerageTotal value of shares

Answer»

For buying shares:

Here, Number of shares = 100,

MV of one share = Rs. 45

∴ Total value = 100 × 45

= Rs. 4500

Brokerage = 0.2% of total value 0.2

= 0.2/100 × 4500

CGST = 9% of brokerage

= 9/100 × 9 = Rs. 0.81

But, SGST = CGST

∴ SGST = Rs. 0.81

∴ Purchase value of shares

= Total value + Brokerage

= 4500 + 9 + 0.81 + 0.81

= Rs. 4510.62

For selling shares:

Here, Number of shares = 75,

MV of one share = Rs. 200

∴ Total value = 75 × 200

= Rs. 15000

Brokerage = 0.2% of total value

= 0.2/100 × 15000

= Rs. 30

CGST = 9% of brokerage

= 9/100 × 30 = Rs. 2.70

But, SGST = CGST

∴ SGST = Rs. 2.70

∴ Selling value of shares = Total value – (Brokerage + CGST + SGST)

= 15000 – (30 + 2.70 + 2.70)

= 15000 – 35.40

= Rs. 14964.60