TYBAF Sem 6 Indirect Tax Question Paper
April 2019
[Duration: 2½ Hours] [Total Marks: 75]
Note: All questions are compulsory.
Q.1 A) Match the column (Any Eight) (8 Marks)
| Sr.No. | Column A | Sr.No. | Column B |
| 1 | Electronic Liability Ledger | A | Input tax credit |
| 2 | Refund | B | Export by vessel or aircraft |
| 3 | Electronic Credit Ledger | C | All liabilities. |
| 4 | Imported Goods | D | Under Section 2 (13) Custom Act |
| 5 | Shipping bill | E | All payments |
| 6 | Electronic cash Ledger | F | Taxable Purchase or Sales |
| 7 | TDS | G | Under Section 2 (19) Custom Act |
| 8 | TCS | H | Under Section 2 (25) Custom Act |
| 9 | Exported Goods | I | Under Section 54 CGST Act |
| 10 | Custom Station | J | Under Section 51 CGST Act |
| K | Under Section 52 CGST Act _ |
Q.1 B) State whether True or False (Any Seven). (7 Marks)
- Imports of light fitting by passenger including short visit abroad qualify as bonafide baggage.
- Infant means a child not more than four years of age.
- Baggage includes motor vehicles.
- Landing charges are to be added to CIF value.
- GST means Good night Sweet dream Take care.
- A Dealer is liable for registration under GST Act, only if his Supply exceeds Rs, 20,00,000.
- Maximum Rate of Interest is 8% U/S 50(1).
- All services are Supply.
- Temporary detention of Baggage if it includes import of prohibited items.
- FOB means free on board.
Q.2 A) The details of purchase and Sales of Mr. Ravikishan who started business during the financial year 2018-2019 are given as follows:
(15 marks)
| Particulars | Rs. |
| Intra State Supply of goods | 18,00,000 |
| Inter State Supply of goods | 13,00,000 |
| Intra State Purchases of goods | 13,00,000 |
| Inter State Purchases of goods | 1,50,000 |
| ITC at the beginning [op.bal.] | |
| CGST | 1,30,000 |
| SGST | 1,30,000 |
| IGST | 1,70,000 |
If inward and outward supplies are exclusive of taxes. Find out whether he is liable for payment
under GST, And Total GST Payable U/S 49 if tax rate is CGST, SGST, IGST is 9%, 9%, and 18%.
OR
Q.2 B) ACS Ltd. Operating in Two States Andhra Pradesh and Tamil Nadu, the Tax Liability for the month of March 2019 is as follows: . (15 Marks)
| Particulars | Andhra Pradesh Rs. | Tamil Nadu Rs. |
| Output CGST payable | 25,000 | 10,000 |
| Output SGST payable | 110,000 | 5,000 |
| Output IGST payable | 3,060 | 2,500 |
| Input Credit CGST | 8,000 | 13,000 |
| Input Credit SGST | 15,000 | 1,500 |
| Input Credit IGST | 12,000 | 16,000 |
Prepare different ledger and Find out whether ACS Ltd. is liable for payment under GST or Not?
Q.3 A) 1. M/S Ravi Dyeing Pvt, Ltd. Supplied goods worth Rs. 10,00,000 to M/S Yunus Pvt. Ltd. in the month of September,2017 plus GST 12%. M/S Ravi Dyeing Pvt. Paid the GST on 5! December 2018.The amount of input tax is 70,000 is available in the books. Calculate interest payable @18% pa U/S50 under CGST Act? (5 Marks)
Q.3 A) 2. The details of business transactions of Mr, Nandi who started business on 1% April 2019 are given below. If he has Rs. 5,00,000 in his electronic cash ledger suggest him order of discharge of liability L/S 49(8): (10 Marks)
| Particulars | Rs. |
| Tax liability of COST, SGST, GST for supplied made during August 2018 | 1,00,000 |
| Interest and penalty on delayed payment and filling of returns belonging to August 2018 | 20,000 |
| Tax liability of CGT, SGST, IGST for supplied made during September 2018 | 1,20,000 |
| Interest and penalty on delay ed payment and filling of returns belonging to September 2018 | 20,000 |
| Demand raised as per Section 73 or Section 74 under CGST Act.2017 belonging to January 2019 | 8,00,000 |
| Demand raised as per the old provisions of Indirect Taxes | 1,00,000 |
OR
Q.3 B) 1. M/s Rose Ltd. has in its Electronic Credit Ledger Rs. 10,00,000 not paid the Tax Rs. 30,00,000 for the month of May 2018, on or before due date 20/06/2018. If Tax paid on 10/10/2018.
Calculate interest payable@ 18% U/850 under CGST Act? (5 Marks)
Q.3 B) 2. Mr. Modi has output tax liability of Rs. 1,00,000 towards CGST and SGST/UTGST and Rs. 20,000 towards IGST and also interest payable of Rs. 1,800. Explain the manner of discharge of tax liability by Mr. Modi in following Two independent cases.
i) ITC available of CGST, SGST of Rs. 5,000 each & IGST Rs. 25,000
i) ITC not available (10 Marks)
Q.4 A) Product Z was imported by Mr. Rahul by Air. The details of import transaction are as follows:
| Particulars | US $ |
| Price of Product Z at exporter’s factory | 16,000 |
| Freight from factory of exporter to load airport (airpart in the country of exporter) | 500 |
| Loading and handling charges at loading airport | 500 |
| Freight from loading airport to airport of importation in India | 7,000 |
| Insurance Charges | 4,000 |
| Rate of Exchange | Rs. 64 per US $ |
| Rate of Basic Custom Duty [BCD] | 15% |
| Social Welfare Surcharge [SWS] | 10% |
| Integrated Tax U/S 3(7) | 12% |
Calculate Total Value of Product Z in India. (15 Marks)
OR
Q.4 B)1. Calculate Custom Duty Payable. (10 Marks)
| Particulars | Rs. |
| CIF Price of Imported (Luxury Car) | 40,00,000 |
| Cost of Transportation | 2,50,000 |
| Cost of Insurance | 80,000 |
| Rate of Basic Custom Duty [BCD] | 60% |
| Social Welfare Surcharge [SWS] | 10% |
| Integrated Tax U/S 3(7) | 28% |
| GST compensation cess | 15% |
Q.4 B) 2. Mr. Robart an Indian resident of 35 years returned to India after visiting London on 10th April 2019. On his baggage he brought following items with him:
| Particulars | Rs. |
| Goods with personal effects like cloths etc | 60,000 |
| 10 liters of Wine | 5,000 |
| Cigars 100 worth | 21,000 |
| A Microwave oven | 30,000 |
| Rate of Basic Custom Duty [BCD] | 35% |
| Social Welfare Surcharge [SWS] | 10% |
Calculate Custom Duty Payable. (5 Marks)
Q.5 A) 1. Write any Eight Exempted Items from custom duty of Baggage Rules 2016 under Rule 3 from any annexure. (8 Marks)
Q.5 A) 2. Goods includes as per definition of Custom Act any Seven. (7 Marks)
OR
Q.5 B) Write Short Notes Any Three: (15 Marks)
1) Scope of Foreign Trade Policy 2015-20.
2) Objectives of Foreign Trade Policy 2015-20.
3) Guiding principles of Foreign Trade Policy 2015-20.
4) Different Types of Duties as per Custom Act.
5) Different Types of Audit as per CGST Act.
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