BCom In Accounting & Finance (BCAF) SEM II 2019 20 Nov 2019-20 ATKT INDIRECT TAXATION Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 VAT is charged in addition to Sales Tax
2. Q2 Hypothecation of goods is excluded from the definition of ‘Sale’ under the MVAI
3. Q3 Giving a vehicle on lease is treated as ‘Sale’ under the MVAT Act
4. Q4 ‘Business’ as defined under MVAT Act, 2002 exclude any transaction of sale or purchase of capital assets
5. Q5 Sale of capital assets is to be treated as part of business transaction for the purpose 0!
6. Q6 Sale of scrap is not treated as business transaction for the purpose of VAT 7, A lawyer is nota dealer under MVAT, 2002
7. Q8 Polishing furniture amounts to “Manufacture”, as defined under MV AT, 2002 9, Sale price under MVAT shall include tax paid or payable to a seller in respect of such
8. Q10 Gift of jewellery to a friend is not ‘sale’ as defined under MVAT, 2002
   • B] Match the following (Any 07) State Government can levy (a) 1% 7
9. Q2 Schedule A (b) Manufacture
10. Q3 Hypothecation (c) Turnover should exceed Rs
11. Q4 Auctioneer 1,00,000
12. Q6 Ornamenting (e) Purchase price of goods purchased
13. Q7 Lottery Ticket from A by B
14. Q9 Sale price of goods sold by B to A (g) Exclude from definition of 2 Mr. Aadit is a dealer. Find out when he is liable to get registration and pay sales tax as per provisions of MVAT 2002 from the following information. (15) Veena & Co. asks you to compute their taxable turnover & sales tax liability under MV A Act, 2002 for the each month separately from the following information. (15) Q — 3 reasons, whether the following activities are manufacturing activities as per the provision of the Maharashtra Value Added Tax Act, 2002: (15)
    • (1) Cutting steel sheets into smaller sheets
    • (3) Assembling TV set from various parts
    • (4) Assembling computer for the customer’s household use
    • (5) Manufacturing of Ball Bearings
    • (7) Retreating of old tyres
    • (8) Reconditioning of machinery
15. Q3 State whether the following person isa “dealer” under the MVAT, 2002 giving reasons:
    • (1) Auctioneer
    • (2) Raj Travels, carrying passenger from Mumbai to Pune by bus
    • (5) Actor
    • (6) Shopkeeper
    • (8) Estate agent Al Mr. Sunil is a dealer in kolapur. From the following information find out sales tax liability for the month of August 2015 (08) Gross Sales [Inclusive of Tax] Purchases [Inclusive of Tax
    • B] Following information is available of M/s Snehal & Co. you are required to find out whether she is liable for registration and pay MVAT 2002. (07)
    • A] Mrs. Nagesh a registered dealer gives you the information of sales as detailed below: Details of sale outside Maharashtra are as follow: Ascertain the sales tax liability of Nagesh under the MVAT Act 2002. (Assume there is no set Following information is available of Mr. Karan you are required to find out whether he is liable for registration and pay MVAT 2002. (07) Q-5 al Define goods and give five examples of goods (08) b| Define Manufacture and give five examples of Manufacturing activity (07) Q-5 Write Short Notes (Any 3) . (15)
16. Q1 Sales
17. Q2 Business 4, Registration conditions for dealer
18. Q5 Purchase Price

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