TYBCOM Sem 6 Indirect Tax Question Paper

Table of Contents

April 2019

(3 Hours) (Total Marks: 100)

Please check whether you have the right question paper.

1) All Questions are Compulsory.
2) Figures to the right indicate full marks allotted to the question,
3) Working Notes should form the part of your answer,
4) Calculate figures upto two decimal points, wherever required.
5) Provisions of GST Act as on 01.04.2018 have to be considered. Amendments made to the act thereafter are to be ignored.

1. A) Select the most appropriate option and rewrite the fill sentence: (Any Ten): 10

1) Alcoholic Liquor for human consumption is subject to _________ .
a) CGST
b) SGST
c) IGST
d) None of the Above

2) Goods and Service Tax is a tax levied on goods and services at each point of ________ .
a) Demand
b) Cash Sale
c) Supply
d) Manufacturing

3) The definition of “Goods” under the GST Act does not include _________ .
a) Grass
b) Growing Crops
c) Actionable Claims
d) Money and Securities

4) M/s. Deepak Enterprises of Mumbai supplies Goods to M/s Jyoti Associates Rajasthan, this will classify as : ________ .
a) Export Supply
b) Import Supply
c) Intra State Supply
d) Inter State Supply

5) For services of Beauty Treatment, the place of supply is the location : ________ .
a) of recipient
b) Where services are actually performed
c) of Supplier
d) of registered Person

6) Maximum time for availing Input Tax Credit is _________ .
a) The date of filing of the Annual Return
b) Due date of filing of Return for the month of September
c) Earliest of (a) and (b) above
d) Later of (a) and (b) above

7) The Form used for Registration is _________ .
a) Form GSTR-]
b) Form GSTA-I
c) Form GST-REG-01
d) Form GST Reg

8) Taxable minimum turnover limit in GST that is applicable in the state of Maharashtra is __________ .
a) ₹10 Lakhs
b) ₹20 Lakhs
c) ₹25 Lakhs
d) ₹75 Lakhs

9) The Tax deducted has to be paid to the Government within _______ days after the end of the month in which deducted.
a) 7
b) 10
c) 15
d) 20

10) Shyam purchased goods for which the tax invoice was ₹ 84,000 including IGST of @ 12%. The input tax credit under IGST shall be: _______ .
a) ₹ 9,000
b) ₹ 4,500
c) ₹ 10,080
d) None of the Above

11) Mr. Ujwal has an outward tax liability under IGST of T40,000. The unutilized input Tax Credit available under CGST is Z10,000/- and under SGST is ₹ 10,000/-, the net liability payable would be.
a) ₹ 20,000
b) ₹ 40,000
c) ₹ 60,000
d) None of the Above

12) Transaction Value of Supply includes : __________ .
a) Subsidies
b) Incidental Charges
c) Taxes, duties other than GST
d) All of the above

Q.2 B) State whether the following statements are True or False and Rewrite the full 10 sentence (Any Ten) : (10)

A company and its sole agent are not related persons.
Manufacturer of Pan Masala is not eligible for composition levy.
Time of supply fixes the point when liability to charge GST arise.
IGST is one of the two taxes charged on every intra state transactions.
The aggregate turnover will be computed Permanent Account (PAN) number wise.
Salary received by director of XYZ Limited is liable for GST in the hands of the director.
Late fees and interest shall not be included in the value of supply.
The central tax shall not be utilized towards the payment of State Tax.
Any Supplies made to SEZ Unit or SEZ Developer are Inter State Supplies.
In the case of a sponsorship services provided by Mr. A to M/S. B limited, liability to pay GST is of M/S. B Limited. :
A person cannot get registered under GST on voluntary basis.
Supplier is not necessarily a registered person.

Q.2 A) Mr. Ashok is a Chartered Accountant provides you with the following information: (10)

Particular	₹
1) Received fees for accounting work from clients	2,50,000
2) Received fees for audit work from M/S Ram & Co.	1,20,000
3) Received rent from Mr. Raju for renting commercial shop	60,000
4) Salary earned for working as lecturer in RAS Degree College	3,00,000
5) Coaching for Chartered Accountancy Course	1,40,000
6) Purchase of stationery for office work	35,000
7) Received gift at the time of his marriage	24,000

Compute the value of taxable supply and GST Liability of Mr. Ashok. GST rate to be taken CGST 2 % and SGST 9%
All amounts given are excluding GST.

Q.2 B) Classify the following activities as taxable supply and non-taxable supply : (05)

Particular	₹
1) Commission received on sale of wheat	1,20,000
2) Professional advice to his friend free of charge	10,000
3) Sold goods to Mr. Kumar of Thane	67,000
4) Hotel Room Rent of 800/- per day	10,000
5) College fees for recognized course from recognized university	45,000

Q.2 C) Mis. Kavita & Sons (Property dealer) provides you details of following activities during the month August, 2018.
Compute the value of taxable supply and GST Liability. (10)

Particular	₹
1) Collected rent from shops	6,00,000
2) Received rent from vacant land used for agricultural	2,00,000
3) Received rent from premises let to a temple trust	1,50,000
4) Rent received from land used for Mona Circus	7,50,000
5) Paid stationery and Telephone bills	4,75,000
6) Rent received on storing of Agricultural Produce	2,10,000
7) Rent received from residential house	1,60,000

GST rate to be taken CGST 9 % and SGST 9%
All amounts given are excluding GST.

D) Classify the following activities as taxable supply and non-taxable supply : (05)

Particular	₹
1) Bank Charges on Current A/c	12,000
2) Sold Wrist-watches and pocket watches	1,20,000
3) Shampoos are distributed as free samples	50,000
4) Services rendered by a Member of Parliament	35,000
5) Renting premises for religious purpose	9,000

Q.3 A) Mr. Alok, a registered dealer in Maharashtra, provides the following details for the month of March, 2019. (07)
Calculate his Net Liability under the GST Act :
Opening balance in Electronic Credit Ledger :
IGST – ₹ 75,000/-, CGST – ₹10,000/-, SGST – ₹10,000/-

Particular	₹
1) Sold goods to Pradeep in in Mysore (Karnataka)	1,50,000
2) Sold goods to M/s Anil and Co in Pune (Maharashtra)	2,00,000
3) Purchased goods from Vinod and Co from Sangli (Maharashtra)	60,000
4) Services availed from a consultancy firm in Surat (Gujarat)	100,000
5) Purchased Goods from Jayant and Co from Mumbai (Maharashtra). No Tax invoice has been received.	50,000

Note : 1) All amounts are exclusive of GST.
2) Rates of IGST – 12%, SGST – 9%, CGST – 9%.

B) Determine the place of supply in each of the following giving reasons (Any Four): (08)

1) Deepak having registered office in Meerut, imported goods into India from Singapore, which were received at Mumbai Airport.
2) M/s Siddhi Vinayak CHS Ltd., Mumbai, placed an order for Installation of Elevator with M/s Otis Elevators. The Elevator was installed at the society’s building in Mumbai.
3) Deepali, a mehendi artist, based in Mumbai, travels to Udaipur, Rajasthan for an assignment for Bridal Mehendi.
4) M/s. Deepshikha Enterprises, based in Delhi, supplied a Videocom DTH connection from Videocom Ltd. based in Chennai to Mr. Sagar in Noida, Uttar Pradesh. .
5) M/s. Arijit of Nanded, Maharashtra, sells 20 washing machines to Ms. Abhijeet of Kota, Rajasthan for delivery at his registered address in Kota.

Q.3 C) Mis. Winwin Ltd, a registered dealer in the state of Maharashtra, provides the following details for the month of February, 2019. (07) Calculate the Net Liability under the GST Act:
Opening balance in Electronic Credit Ledger:
IGST – ₹2,000/-, SGST – ₹5,000/-

Particular	₹
1) Sold goods to Mr. Ashok in Patiala (Punjab).	2,00,000
2) Sold goods to M/s Vinay and Co in Virpur (Gujarat)	4,00,000
3) Purchased goods from Ms. Mona from Dibrugarh (Assam)	1,00,000
4) Services availed from a consultancy firm in Katra (Jammu and Kashmir)	1,00,000
5) Purchased Goods from Mr. Kishanlal, from Amritsar (Punjab). The Tax invoice was received. However, the goods were not received	50,000

Note 1) All amounts arc exclusive of GST.
2) Rates of IGST – 12%, SGST – 9%, CGST – 9%.

D) Determine the place of Supply in cach of the following giving reasons (Any Four): (08)
1) Ustaad Zakir Hussein, Tabla Maestro, based in Mumbai, travels to Delhi for a performance-at Delhi’s Pragati Maidan.
2) M/s. BSNL Ltd. based in Delhi, supplied a landline to M/s. Speak up, in their office at Mathura, Uttar Pradesh.
3) M/s. A. K. Enterprises of Pune, Maharashtra sells 60 Television sets to M/s. K. A. Enterprises, Sangli & Maharashuea for delivery at Sangli, Maharashtra.
4) Mr. Headcomb, a hairstylist, registered in Chennai, travels to Dubai to provide his services to Ms. Longhair, a resident of Dubai.
5) Mr. Pappu Sharma, a Punjab based registered comedian, hosted a comedy show at Muscat on the birthday of Mr. Tejkiran, a Mumbai based Registered person.

Q.4 A) M/s. Shivai Udyog has provided the following particulars relating to the goods sold by it to Ganesh Enterprises. (10)

Particular	₹
List price of the Goods (Exclusive of Expenses, Taxes and Discounts)	60,000
Tax levied by local Municipal Corporation on above goods	10,000
Primary Packing iE	2,500
Extra Protective Packing	1,000
CGST & SGST chargeable on the Goods	7,200
Special Printing of its Name & Trade Mark on the Goods	2,500
Weighment Charges	2,000

M/s. Ganesh Enterprises received ₹ 5,000/- as subsidy from “Life is Good” Non-Profit making Organization in respect of timely supply of goods.
The price of ₹ 60,000/- is after considering such subsidy. M/s. Shivai Udyog offers 5% trade discount on the list price of the goods,
Determine the value of Taxable supply made by M/s. Shivai Udyog. Also, calculate SGST @ 2.5% and CGST @ 2.5%.

Q.4 B) Determine the time of Supply in each of the following cases as per the provisions of GST Act: (05)

S.No.	Date of Supply of Service	Date of Invoice	Date of Payment
1)	16.07.2018	19.07.2018	24.07.2018
2)	06.10.2018	17.11.2018	18.11.2018
3)	04.12.2018	03.12.2018	06.01.2019
4)	10.01.2019	10.02.2019	15.02.2019
5)	16.02.2019	28.02.2019	18.02.2019

Q. 4 C) M/s. Gurunath a registered supplier, provides you the following details with respect to the contract entered with M/s. Shisha Enterprises for Supply of Goods : (10)
Value of Goods inclusive of IGST @ 18% 1,88,800
Taxes Other than GST 18,500

Following Expenses were incurred by M/s. Gurunath :
a) Insurance Charges 8,000
b) Freight Charges 5,000
c) Designing Charges 6,000 19,000

Following Expenses were incurred by M/s. Shisha Enterprises on behalf of M’s.
Gurunath :
Testing Charges 3,000
Expenses of ₹3 ,000/- was incurred on transportation by M/s. Shisha
Enterprises not on behalf of M/s. Gurunath. :
Subsidy of ₹ 20,000/- was received from the Udaan a NGO, list price is after considering such subsidy.
Calculate the value of supply. Also, calculate Tax Payable.

Q.4 D) Determine the time of Supply in cach of the following cases as per the provisions of GST Act: (05)

S.No.	Date of Removal	Date of Invoice	Date of Payment
1)	15.04.2018	18.08.2018	26.04.2018
2)	15.05.2018	14.05.2018	16.05.2018
3)	01.10.2018	16.10.2018	19.10.2018
4)	04.12.2018	06.12.2018	10.12.2018
5)	05.02.2019	10.02.2019	08.02.2019

Q.5 A) Gayatri Limited a trading concern in Maharashtra is a registered dealer and wants to opt for composition scheme. (07)
It furnishes you with the following information for the year 2018-19:
Kindly advise :
a) Are they eligible to opt for the Composition Scheme?
b) If yes, calculate their composition tax liability (SGST @ 0.5% and CGST @ 0.5%).
The breakup of supplies are as follows :

Particular	₹
Intra state Supply of Exempted goods to Mr. J.	13,00,000
Intra state supply of Taxable goods to Mr. K (Tax Rate @12%)	9,50,000
Intra state supply of Taxable goods to Mr. A’ (Tax Rate @ 5%)	3,45,000
Value of Inward Supply on which tax is payable on Reverse Charge Mechanism	7,00,000
Intra State Supply of taxable goods to Mr. Q (Tax Rate @18%)	10,00,000

All amounts are exclusive of GST.

Q.5 B) M/s. Sathe Bros. provide the details of transactions of their business from the State of Maharashtra during the month of October, 2018. Are they liable to get registered under GST? If yes, from when? (08)

Date	Particulars	Amount
08.10.2018	Goods supplied to Nanded (Maharashtra)	3,17,500
10.10,2018	Exempt supplics to Surat (Gujarat)	2,10,000
17.10.2018	Taxable goods supplied to Raver (Maharashtra)	11,50,000
19.10.2018	Inward supplies on which tax is payable under reverse charge	50,000
20.10.2018	Goods supplied to Nandurbar (Maharashtra)	3.50,000
25.10.2018	Services provided to Sangli (Maharashtra)	1,75,000

Q.5. C) Speed Limited a trading concern in Maharashtra is a registered dealer and wants to opt for composition scheme. It furnishes you with the following information for the year 2018-19 : (10)
Kindly advise :
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 breakup of supplies are as follows :

Particulars	₹
Intra State Supply of Exempted goods to Mr. Sangma.	10,00,000
Intra State Supply of Taxable goods to Mr. Sibal (Tax Rate @12%)	30,00,000
Intra State Supply of Taxable goods to Mr. Jaitley (Tax Rate @ 18%)	20,00,000
Intra State Supply of Taxable goods to Mr. Gadkari (Tax Rate @ 5%)	20,00,000
Value of Inward Supply on which tax is payable on Reverse Charge Mechanism	5,00,000

All amounts are exclusive of GST.

D) State with reason whether the Dealer is required to get registered under GST or not. (Any Four): (08)
1) A trader in the Hilly regions of Uttarakhand makes taxable supply of Goods to a trader in Uttarakhand for a value of ₹ 19,95,000/-
2) M/s. Siddhi Enterprises operating in Meerut, supplies taxable services of ₹ 15,00,000/- within Meerut. .
3) Mr. Roger Bond, a Non- resident person, supplies taxable goods worth ₹ 5,00,000/- in Pune.
4) Ravindra, a farmer, sells agricultural goods worth 21 Lakhs cuitivated by him on his own land.
5) Ms. Bhavisha situated in the State of Sikkim, supplies taxable goods worth ₹ 12 Lakhs.

Q.6 A) State the benefits of Goods and Services Tax. (10)
B) Explain in brief, the conditions for availing Input Tax Credit and the time limit to avail it? (10)

Q.6 C) Write Short Notes on (Any Four): (15)

i) Electronic Commerce Operator
ii) Composite and Mixed Supply
iii) Supplier
iv) Aggregate Turnover
v) Casual Taxable Person
vi) Electronic Credit Ledger

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