
TYBCOM Sem 6 Indirect Tax Question Paper April 2024 PDF with Solution
The TYBCOM Sem 6 Indirect Tax Question Paper April 2024 is an essential resource for students preparing for thier final examinations. This paper not only assesses the knowledge acquired throughout the course but also helps student identify key areas for improvement.
In this blog post, will provide a comprehensive overview of the question paper along with solutions, ensuring that students have acess to valuable study materials. By utilizing these resources, candidates can enhance thier understanding of Indirect Taxation concepts and improve thier performance in exams. Stay tuned as we explore further into the specifics of the question paper and offer insights into effective preparation strategies.
Q.1 A) Select the most appropriate option and rewrite the full sentence (any Ten) (10 Marks)
1) GST is based on the principle of ________ based consumption.
a) origin
b) source
c) destination
d) production
2) ___________ is a tax that shifted from one taxpayer to another.
a) Direct tax
b) Indirect tax,
c) Entry tax
d) GST
3) The place of supply of goods exported from India shall be the _________
a) Location of the Importer
b) Location of the Exporter
c) Location of the agent of Exporter
d) Location outside India
4) Mr. Ulhas has an outward tax liability under IGST of Rs.60,000. The unutilized input rax credit available under CGST is Rs 15,000 and under SGST is Rs. 15,000 the net liability payable would be ________.
a) Rs.20,000
b) Rs.30,000
c) Rs. 50,000
d) Rs. 90,000
5) Every person liable for registration u/s 22 or 24 of the CGST Act, 2017 shall apply for registration with
in ________ from the date on which becomes liable for registration.
a) 15 days
b) 30 days
c) 45 days
d) 60 days
6) Interest @ is payable on delayed payment of taxes under GST.
a) 18%
b) 15%
c) 28%
d) 24%
7) _____ is not included in the term “Goods” under GST Law.
a) Actionable claim b) Growing crops
c) Grass
d) Money and Securities
8) Under reverse charge, the liability to pay tax on supply of goods and / or services is on ________.
a) recipient of supply
b) supplier of supply
c) agent
d) supplier who is in India
9) Taxable event under IGST is _________ of any goods and or services in the course of inter state trade or commerce.
a) supply
b) Production
c) Provision
d) demand
10) Central & excise duty shall be levied in-addition to-GST on _________.
a) Petroleum products
b) Alcohol products
c) Tobacco and Tobacco products
d) Alcohol for human consumption
11) Chairperson of the GST council is ________.
a) Union Minister of the state in charge of revenue
b) Union Finance Minister
c) One elected person amongst the state finance Minister
d) Minister in charge of Finance or Taxation
12) _____ shall be levied on Inter state supplies and imports.
a) CGST
b) SGST
c) IGST
d) CGST and SGST
Q.1 B) State whether the following statements are True or False (Any Ten) (10 Marks)
- Mrs. Sonal of Delhi supplied foods to Mrs. Siddhi of Kolkata, it is treated as inter-state supply.
- Time of supply fixes the point when liability charge GST arises.
- Anant sold goods worth Rs.1,18 000 to Baban inclusive of 9% CGST and 9% SGST. The basic price of goods will be Rs.1,00,000.
- The input tax credit self assessed in the return of registered person shall be credited to electronic credit ledger.
- The credit of CGST can be utilized for payment of CGST only.
- CPIN is a 15 digit unique number valid for 14 days.
- Stock transfers between branches is not taxable supply.
- Location of supplier of services is always location of usual residence of supplier.
- Where goods are installed at site, Place of the recipent becomes the place of supply.
- Consideration includes an amount received from central government as subsidy.
- Supplier is always a “Taxable Person”.
- IGST is one of the two taxes charged on every intra state transaction.
Q.2 a) Mr. Vikas is a performing artist, provides you will following information relating to December 2023.
Particulars | Rs. |
Amount received for performing western dance | 1,50,000 |
Amount received for providing services as a brand ambassador | 4,50,000 |
Fees received for coaching recreational activities relating to outure | 2,00,000 |
Amount received for performing as a classical dancer | 1,41,000 |
Amount received for performing in television serial | 5,00,000 |
Amount received in relation to acivities in sculpture making | 3,00,000 |
Paid telephone bills | 200,000 |
Compute the value of Taxable Supply and Goods and services payable amounts given are excluding Goods and services Tax. GST rate to be taken CGST @9% SGST@ 9%.
Q.2 b) Determine the Time of supply in each of the following cases as per the provision of GST Act (10 Marks)
Sr. no. | Date on which goods are made available | Date of Invoice | Date of receipt of available |
1 | 18-05-2023 | 22-05-2023 | 20-05-2023 |
2 | 17-06-2023 | 16-05-2023 | 01-06-2023 |
3 | 19-07-2023 | 31-06-2023 | 12-06-2023 |
4 | 07-08-2023 | 15-07-2023 | 18-07-2023 |
5 | 25-08-2023 | 31-08-2023 | 19-08-2023 |
6 | 22-09-2023 | 20-09-2023 | 24-09-2023 |
7 | 16-10-2023 | 13-10-2023 | 26-10-2023 |
8 | 02-11-2023 | 29-11-2023 | 02-12-2023 |
9 | 06-01-2029 | 11-02-2024 | 27-01-2024 |
10 | 18-02-2024 | 18-02-2024 | 05-02-2024 |
OR
Q.2 c) Classify the following activites of Taxable Supply and Non-Taxable Supply (10 Marks)
Sr. no. | Particulars | Rs. |
1 | Renting of property for commercial use | 10,25,000 |
2 | Renting of agricultural vacant land for rearing Horses | 5,25,000 |
3 | Margin earned from trading in derivatives | 2,50,000 |
4 | Salary received from employer | 1,20,000 |
5 | Implementation of software | 2,00,000 |
6 | Coaching to students for IIM exams. | 1,00,000 |
7 | Transport by school to students | 3,00,000 |
8 | Merchunt bunking services | 10,00,000 |
9 | Hotel Room Rent of Rs 100/- per day | 2,50,000 |
10 | Warehousing charges of agricultral produce | 3,50,000 |
Q.2 d) Determine the Time of Supply in each of the following cases as per the previous of GST Act. (10 Marks)
Sr. no. | Date of Supply of Services | Date of Invoice | Dale of receipt of payment |
1 | 13-11-2023 | 02-12-2023 | 11-12-2023 |
2 | 09-11-2023 | 06-01-2024 | 26-01-2024 |
3 | 11-12-2023 | 21-01-2024 | 23-01-2024 |
4 | 18-12-2023 | 28-12-2023 | 04-12-2023 |
5 | 11-12-2023 | 06-01-2024 | 16-01-2024 |
6 | 16-12-2023 | 19-01-2024 | 23-01-2024 |
7 | 24-12-2023 | 29-12-2023 | 21-12-2023 |
8 | 26-12-2023 | 30-12-2023 | 03-12-2023 |
9 | 07-01-2024 | 11-01-2024 | 08-01-2024 |
10 | 10-12~2023 | 16-01-2024 | 05-01-2024 |
Q.3 A) Mr. Rohit registered state of Maharashtra a provides your following details for the month March, 2023. Calculate Net Tax Liability of GST.
Opening Balance in Electronic credit ledger as on 1st March 2023.
IGST Rs. 1,02,000;
CGST Rs. 26,000;
SGST Rs. 48,000;
Particulars | Rs. |
Sold Goods @ 18% GST To Rahul in Raigad (Maharashtra) | 6,00,000 |
Sold Goods @ 28% GST To Anand in Ratnagiri (Maharashtra) | 4,00,000 |
Provided services @ 5% GST to Namrata in Goa | 18,00,000 |
Provided services @ 12% GST to Aditi in Bhopal (Madhya Pradesh) | 22,00,000 |
Purchased goods @12% GST from Delhi | 14,00,000 |
Purchased goods @ 28% GST From Pune (Maharashtra) | 15,00,000 |
Availed services @ 28% GST from Jaipur (Rajasthan) | 70,000 |
Availed services @ 5% GST from Nagpur (Maharashtra) | 40,000 |
Q.3 B) Determine the place of Supply in following cases with reasons: (10 Marks)
- Mr. Shrian is a registered technician of Bangalore who gives services repairing of machinery in Delhi.
- Mr. Nitin, registered person, of Pune sends goods to one of his Customers in Nashik.
- Ms Bunti resident of Kamothe, takes post-paid mobile connection from a company based in Delhi.
- A Ltd a registered company of Delhi has made a contracts with Infosys Ltd.of Chennai for giving training to their employees Mysore.
- Mr. Kumar unregistered person of Mumbai not having bank account in Surat takes a demand draft from Bank of Surat for the purpose of education.
OR
Q.3 C) From the Following details calculate Net GST Liability (10 Marks)
Mrs. Savita a registered dealer in the state of Maharashtra provides you with the followmg details for the month of March 2023
Opening Balance in electronic credit ledger as on 1st March 2023
IGST – Rs. 15,000
CGST – Rs 17 000
SGST – Rs. 15,000
Transactions during month | Amount |
Sold goods @ 5 % GST to Madan in Kerala | 12,00,000 |
Sold goods @ 12% GSt to Kiran in Shirdi (Maharashtta) | 11,00,000 |
Purchased Goods @ 12 % GST from Jalgaon (Maharashtra) | 50,000 |
Provided services @18% GST to Bharat in Baroda (Gujarat) | 70,000 |
Provided services @ 18% GST to Rupesh in Satara (Maharashtra) | 1,50,000 |
Availed services / Inward supplies @ 5% GST, from Bihar | 3,00,000 |
Q.3 d) Determine the place of Supply in following cases with Reasons (10 Marks)
- Mr Pradeep of Sangali Visits a hotel located if Pune and stays for 15 days.
- Mr. Mahendra of Pahdharpur purchases a ticket for watching a movie in Delhi
- A caterer provides services on board in train during Mumbai Surat Delhi.
- Mr. Kalpesh of Pune purchased a watch from a shop in Himmat Nagar Gujarat.
- Mr. Anmol residing Delhi travels from Mumbai to Kolkata and gets travel Insurance done in Kolkata.
Q.4 A) M/s Nagnath Enterprises has provided the following particulars relating to the goods sold by it to
M/s Somnath Enterprise.
Particulars | Rs. |
List price of the Goods (Excluslve of Expenses Taxes and Discount) | 7,25,000 |
Tax levied by Municipal Corporation on sale of goods | 75,000 |
Protective packing at the request of the buyer | 8,000 |
CGST and SGST chargeable on the goods | 1,30,000 |
Weighment Charges | 20,000 |
Designing charges paid by M/s Somnath Enterprises on behalf of M/s Nagnath Enterprises | 10,000 |
Subsidy received from Non Profit making organization ( The list price of Rs.7,25,000 is afier considering the subsidy) | 50,000 |
M/s Nagnath Enterprises offers 10% trade dlscount on the list price of the goods.
Determine the value of Taxable supply made by M/s Nagnath Enterprises. Also, calculate SGST @ 9% and CGST @ 9%.
Q.4 b) Kshitij Ltd. is a manufacturing concern in Maharashtra. It wants to opt for a composition scheme.
It furnishes you with the following information for the preceding financial year 2022-23.
Kindly advise:
a) Are they eligible to opt for the composition scheme in the financial year 2023-24.
b) If yes, then calculate their composition tax liability SGST@ 0.5% and CGST @65%)
The break-up of supplies is as follows:
Particulars | |
Intra-state supply of taxable goods to Mr. Kalpesh (Tax rate 5%) | 80,00,000 |
Value of inward supplies, which is payable under Reverse charge Mechanism (RCM) | 12,50,000 |
Intra-state supplies of goods Mr. Kaustubh (Tax rate @ 12% ) | 20,00,000 |
Intra-state supply of goods to Mr. Kishan charged at Nil rate of tax | 15,40,000 |
Inter- state supplies which are wholly exempt under section 11 of CGST Act,2017 | 5,60,000 |
All Amounts are exclusive GST
OR
Q.4 C) Ms Sanchita Enterprises, a registered supplier, provides you the following details with respect to the contract entered withd Ankila Enterprises for supply of goods. (10 Marks)
Particulars | Rs. | Rs. |
Value of goods (inclusive of IGST @ 18%) | 2,12,400 | |
Taxes other than GST | 21,250 | |
Following expenses were incurred by M/s Sanchila Enterprises | ||
a) Insurance.charges | 15,000 | |
b) Packing charges | 10,000 | |
c) Freight charges | 12,000 | |
Following expenses were incurrred by M/s Ankua Enterprises on behalf of M/s Sanchita Enterprises | 7000 | |
Testing chargcs icurred by M/s Ankita Enterprises not on behalf of M/s Sanchita Enterprises | 9000 | |
Subsidy received from Government of Maharashtra (List price is after considering the subsidy) | 18000 |
Calculate the value of supply and the Tax payable.
Q.4 D) M/s Smeet Enterpriscs Provide the details of transacligns of their/business from the State of
Maharashtra during the month of December, 2023. Find out-from which date, whether they arcliable for
registration or not? Give your reason. (10 Marks)
Date | Particulars | Amount |
05/12/2023 | Services Provided to Pune (Maharashtra) | 5,00,000 |
08/12/2023 | Goods supplied to Nasik (Maharashtra) | 2,50,000 |
10/12/2023 | Goods purchased from Baramati (Maharashtra) | 3,00,000 |
12/12/2023 | Exempt supplies to Jaipur (Rajasthan) | 8,80,000 |
18/12/2023 | Inward supplies on which tax is payable under Reverse, Charge Mechanism (RCM). | 6,75,000 |
20/12/2023 | Taxable goods supplied to Nanded (Maharashtra) | 1,20,000 |
26/12/2023 | Supply of goods to Lucknow (Exempt) | 1,00,000 |
28/12/2023 | Services availed from Ahmedabad (Gujrat) | 2,00,000 |
30/12/2023 | Supply of services to Kudal (Maharashtra) | 5,50,000 |
Q.5 A) Explain Goods and Services Tax (GST) and its features (10 Marks)
Q.5 B) Enumerate the categories of persons liable for compulsory registration. (10 Marks)
OR
Q.5) Write Short notes on any four of the following. (20 Marks)
a) Aggregate turnover
b) Composite supply
c) Electronic commerce operator.
d) Reverse charge
e) Conditfons to avail Input Tax Credit
f) Non-resident taxaible person
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