TYBCOM Sem 6 Indirect Tax Question Paper April 2023
TYBCOM Sem 6 Indirect Tax Question Paper April 2023

TYBCOM Sem 6 Indirect tax Question Paper April 2023

Time: 3 Hours Total Marks:100

N.B.

  1. All questions arc compulsory.
  2. Figures to the right indicate full marks allotted to the question.
  3. Working Notes should forth part of your answer.
  4. Calculate figures up to two decimal, points, wherever required.
  5. Provisions of GST Act as on 1-4-2022 have be considered. Amendments made to the Act thereafter are to be ignored.

Q.1 a) Select the most appropriate option and rewrite-the full sentences: (Any Ten)
(10 Marks)

1) SGST is applicable when _______.
(a) Goods are-sold within the state
(b) Goods are sold from one GST dealer to a customer
(c) Goods are sold from one GST dealer to another GST dealer
(d) Inter-state supply .

2) ________is the threshold limit of turnover in the preceding financial year for opting to pay tax under the composition for special category states.
(a) 20,00;000
b) 10,00,000
(c) 75;00,000
d) 1,50,000

3) _______ is exempted from GST.
(a) Any Business exhibition
(b) A business exhibition in India
(c) A business, exhibition outside India
(d) None of the Above

4) Tax invoice must be issued by ________on supplies made by him.
(a) Every supplier
(b) Every person
(c) Every registered person not pay tax under composition,
(d) All the above

5) The liability to pay tax on goods shall arise at the _______.
a) Dispatch of goods
b) Removal of goods
c) Time of Supply
d) Delivery of goods

6) Mr. Kamalesh purchased goods for which ,tax invoice was Rs.1,00,800 including IGST of 12% The Input tax credit under IGST shall be ______.
(a) Rs.10,800
(b) li.12,096
(c) Rs. 6,048
(d) Rs.5,400

7) ______ refers to receipt of goods or services or both whether by purchase, acquisition or any other means with or without consideration.
a) Outward Supply
b) Inwards Supply
c) Taxable Supply
d) None of these

8) Supply of goods and services which constitutes predominant element of composite supply is called ______.
a) Common Supply
b) Principal Supply
c) Mixed Supply
d) Continuous Supply

9) Tax rate on Goods is determined by _________.
a) Union Budget
b) State Budget
c) GST Budget
d) Central Government in consultation with state government

10) Every person shall have ________ in order to to eligible for grant of registration under GST.
a) Aadhar card
b) TAN Number
c) PAN Number
d) VAT/Service Tax Number

11) Transfer of the title in goods is a supply of _______.
a) Goods
b) Services
c) Both
d) None of these

12) GSTIN refers to ________.
a) GST Information Number
b) GST Information Network
c) GST Identification Network
d) GST Identification Network

Q.1B) State whether the following statements are True or False: (Any Ten). (10 Marks)

  1. The balance of CGST credit after set off CGST can be used towards the payment of IGST
  2. Value of supply is the amount upon which tax is levied and collected
  3. A registered person supplying taxable goods shall issue a tax invoice within 30 days from the date of supply of goods
  4. The place of supply of training services will be where services are actually performed, whether the recipient is registered or not.
  5. Goods and-Service Tax is a supply-based tax.
  6. Under forward charge, the recipient of goods or ‘services is liable to pay tax.
  7. Services to the Reserve Hank of India are exempt.
  8. Place of supply of goods exported from India shall he the location of an exporter,
  9. Services by any court or tribunal established under any law ix the supply for services,
  10. The rate of composition for trading firms is 5%.
  11. Under GST law, the Value of supply shall not include incidental expenses
  12. Input Tax Credit shall be allowed only on the support of Tax Invoice

Q.2 A) Mr. Vijay is an Engineer, provides you with the following information.            (10 Marks)

ParticularsRs.
1) Received fees for advice in relation to setting an Institute 2,50,000
2) Received fees for professional advice to his friend1,75,000
3) Fees received for technical assistance in software1,25,000
4) Professional advice to his friend free of charge85,000
5) Received fees for consultant  services in Networking1,50,000
6) Salary received from cm lo er for  part-time job1,00,000
7) Purchase of stationary for office work1,60,000

Compute the value of Taxable Services and the Goods and Services Tax payable. All amounts given exclude Goods and Services Tax. Rate of CGST @ 9% and SGST @ 9%.

Q.2 B) Determine the Time of supply in each of the following cases as per the provisions of GST Act. (10 Marks)

Sr. No.Date on which goods are made availableDate of InvoiceDate of receipt of payment
117-04-202220-04-202218-04-2022
215-05-202214-05-202231-05-2022
318-06-202201-06-202210-06-2022
407-07-202214-07-202221-07-2022
524-08-202230-08-202218-08-2022
 621-09-202217-09202225-09-2022
714-10-202211-10-202225-10-2022
802-12-202228-11-202202-12-2022
905-01-202310-02-202325-01-2023
1016-02-202316-02-2023 06-02-2023

OR

Q.2 C) Classify the following activities as Taxable Supply and Non-Taxable Supply.    (10 Marks)

ParticularsRs.
Remuneration received as a Member of Parliament (MP)9,75,000
Royalty received from the permanent transfer of trademarks2,00,000
Coaching in recreational activities in relation to arts3,75,000
Speed post services 1,50,000
Rent received for residential house 2,50,000
Receipts from supply of farm labour2,55,000
Courier services4,75,000
Toll receipts from highway of Mumbai to Pune2,35,000
Sold goods to Mr. Nagesh of Nasik1,80,000.
Renting of immovable property to commercial coaching centre 2,10,000

Q.2D) Determine the Time of supply in each of the following cases as per the provisions
of GST Act. (10 Marks)

Sr. Date of Supply
of Service’s
Date of InvoiceMate of Receipt
of payment
112-10-2022 01-11-2022 10-11-2022
2 084.1,202205-12-2022 25-12-2072
3 1041-202220-12-202222-12-2022
417=11-202227-11-202203-11-2022
5’10-11-202205-12-202215-12-2022
615-11-202218-12-202222-12-2022
723-1.1-;202228-42-2022 20-11-2022`’
8 2511.-2022 .29-11-2022702-11-2022
906-12-2022 110-12-2022 17-12-2022
1009-11-202215-12-2022 04-1-2,2022

Q.3A) Mr. Sanjay, registered state of Maharashtra following details for the month April, 2022. Calculate Net Tax Liability of GST. (10 Marks)

Opening Balance in Electronic credit ledger as on 1st Apri1,2022.
IGSTRs. 2,00,000 ; CGST Rs. 50,000; SGST Rs. 1,00,000

ParticularsRs.
Sold Goods @ 18% GST To:Vaibhav,inKarad12,00,000
SoldGoods @ 28% GST:To Aparilain Pune8,00,000
PrOvided services @ 5% GST to,Sunil in Tamilnadu30,00,000
:Provided services @ 12% GST; to Prakash in Uttaranchal40,00,000
Purchased goods @ 12% GST from Jabalpur28,00,000
Purchased goods@ 28% GST From Nagpur30,00,000
Availed services @ 28%:GST fronf Ujjain1,50,000
Availed services @ 5% GST from Sangli90,000

Q.3B) Determine the place of Supply in following cases with reasons:  (10 Marks)

  1. Mr. Arbaz is an engineer of Delhi who gives services for the construction of plant in Mexico.
  2. Mr. Shrimant, a registered person, of Markham! sends goods through courier to one of his friends in Dharashiv.
  3. Mr. Kashinath, resident or Kandivali takes landline telephone connection from a company based in Delhi.
  4. TISS company of Pune has contracted with Training Institute in Mumbai to train their employees. The training was given to employees in Bangalore.
  5. Ms. Sadhana of Jaipur not hailing bank account in Cochin takes a demand draft from Central Bank of Cochin for the purpose of education

OR

Q.3C) From the following details calculate Net GST Liability. (10 Marks)

Mrs. Seema a registered dialer in the state of Maharashtra provides you with the  details for the month of April 2022.

Opening balance in electronic credit ledger as on  202’2
IGST – Rs. 17,000 CGST – Rs. 15,000 SGST – Rs. 15,000

Transactions during the monthAmount
(Rs)
Sold goods @ 5 % GST to Abhijeet in Mysore6,00,000
Sold goods @ 12 % GST to Raju in Pune 11,00,000
Purchased Goods @ 12% GST from Kalwa50,000
Provided services @ 18% GST to Manoj in Valsad70,000
Provided services @ 18% GST to Dilip in Karad1,50,000
Availed services / Inward supplies @ 5% GST from Bangalore3,00,000

Q. 3D) Determine the place of Supply in-following cases with reasons: (10 Marks)

  1. Ms. Aditi of Mumbai visits a hotel located in Satara and stays for 15 days.
  2. Mr. Krishna of Panjim purchases a ticket for watching a movie in Delhi.
  3. A caterer provides services on board in train during Mumbai-Chennai which is not included in fare.
  4. Mr. Rajnish of Rajapur purchased a mobile from a shop in Baroda, Gujarat.
  5. Mr Nayak residing in Kolkata, travels by jet Airlines from Mumbai to Bangalore and gets travel Insurance done in Chennai.

Q.4A) M/s Raja Enterprises has provided the following particulars relating to the goods sold by it to M/s Rani Enterprises. (10 Marks)

ParticularsRs.
List price of the Machine
(Exclusive of Expenses, Taxes and Discount)
4,50,000
Tax levied by Municipal Corporation on sale of goods45,000
Packaging Charges15,000
CGST and SGST chargeable on the goods54,000
Charges for designing the machine24,000
Commission paid by M/s Rani Enterprises on behalf
of M/s Raja Enterrprises
5,000
Subsidy received from NGO.
(The list price of Rs. 4,50,000 is after considering the subsidy)
21,000

M/s Raja Enterprises offers 10% trade discount on the list price of goods

Determine the value of Taxable supply made by M/s Raja Enterprises, Also calculate SGST @ 9% and CGST @ 9%.

Q.4B) Abhinav Ltd. is a manufacturing concern in Maharashtra. It wants to opt for a composition scheme. It furnishes you with following information for the year 2022-23
Kindly advise: (10 Marks)

a) Are they eligible to opt for the composition scheme ?
b) If yes, then calculate their composition tax liability (SGST @ 0.5% and CGST @ 0.5%)

The break-up of supplies is as follows:

ParticularsRs.
Intra state supplies which are wholly exempt50,00,000
Value of inward supplies, which tax is payable under Reverse charge15,00,000
Intra state supplies of goods to Mr. Ramesh (Tax rate @ 12%)4,75,000
Intra state supply of goods to Mr. Rajesh charged at Nil rate of tax22,50,000
Intra state supply of taxable goods to Mr. Suresh (Tax rate 18%)18,75,000

All amounts are exclusive of GST.

Q.4 C) M/s Ajay Enterprises, a registered supplier, provides you the following details with respect to the contract entered with M/s Vijay Enteprises for supply of goods. (10 Marks)

ParticularsRs.Rs.
Value of goods (inclusive of SGST @ 9% and CGST @ 9%)5,90,000
Taxes other than CGST/SGST29,500
Following expenses were inquired by M1 Ajay Enterprises
a) Insurance charges11,800
b) Packaging charges12,200
c) Transport charges20,000
Testing charges incurred by M,..M-Vijay Enterprises on behalf of
M/s Ajay Enterprises
44,000
Designing charges incurred by M/s Vijay Enterprises, not on behalf of M/s Ajay Enterprises7,500
Subsidy received from the Association of Traders
(List  price is after consider in the subsidy)
10,000

Calculate the the value, of supply and the tax of SGST 9% and CGST @ 9%.

Q.4D) M/S Anand and company is carrying business in Mumbai of Selling Groceries. The company started business on 06/02/2023. His turnover is as follows:

Are they liable to obtain registration under GST ? if yes, from when ? (10 Marks)

DateTaxable Supply withhin the
state of Maharashtra (Rs.)
Export Supply
(Rs.)
Exempt Supplies
(Rs.)
28/02/20233,14,0008,12,40021,000
06/03/2023304,00032,000
07/03/20232,85,00018,000
08/03/20233,72,00016,000
09/03/20235,92;0001,12,000
10/03/20233,12,000
11/03/20231,80,0001,15,000

Q.5A) Explain the Benefits of Goods and Services Tax (10 Marks)

Q.5B) Distinguish Between:

  1. Direct Tax and Indian Tax (5 Marks)
  2. Casual Taxable Person and Non Resident Taxable Person (5 Marks)

Q.5) Write a short note on any four of the following: ( 20 Marks)

  1. Aggregate turnover
  2. Time of supply of Goods
  3. Electronic Cash Ledger
  4. Intra-state Supply and Inter-State_ Supply
  5. Mixed Supply
  6. Composition Scheme

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