BCom In Accounting & Finance (BCAF) SEM IV 2016 2017 March 2017 INDIRECT TAXATION II Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q2 Figures to right indicates full marks for question 7 4) Use of standard calculation is permitted
2. Q1 A) State whether the following statement in True False rewrite the sentence
3. Q1 Transaction value is ad-valorem value 7 2) Excise duty is payable when goods are sold
4. Q3 Excise duty is not applicable when goods are removed as free samples 8 4) Excise duty and Service Tax are independent taxes 7 5) There is excise of goods
5. Q6 Service Tax has been imposed as an direct tax,
6. Q7 Service Tax is a Tax on service provided or to be provided by Service provider
7. Q8 Service Tax is leviable only if there is sale of goods
8. Q9 Service means any activity carried out by person
9. Q10 Fees taken by schools is outside the coverage of service 8 B) Match the following : (Any 7) 07
10. Q3 Specific duty c) 0.5% 8 4) Transfer of Title d) 1994
11. Q6 Transfer in Money f) not within the ambit of service tax 8 7) Higher education Cess g) Change in ownership
12. Q8 Service Tax introduced h) Volume of unit 7 9) Captive consumption i) not goods
13. Q10 Swachh Bharat Cess j) 110% of cost of production
14. Q2 A) Rajan Food Processing Equipment Manufacturing Co. gives following details of Production and Sales for the Month May 2016. Ascertain excise duty payable by Cost of per machine is 22000, Rate of excise duty is 30%, Ignore education cess and Higher
    • B) M/S Shanti and Co. the following information Cum duty selling price exclusive of sales tax 1,14,50,000 Rate if excise duty applicable to the producet 12.50% Compute Assessable value of proper levy of excise duty and excise duty payable
15. Q2 A) Determine the Assessable value and cost of production on Manufacture of t under mentioned product for the purpose of captive consumption in terms of rule 8 of central excise valuation Direct wages and Salaries 11,200 Research and Development cost 5,340 Selling and Distribution overheads 6,000 Realisable value of Scrap 3,500 Administration overheads are in relation to production activities. Material costs include excise duty of Rs. 1, 248, Calculate Excise Duty liability for captive consumption. Rate of Excise duty is 12.50 %. Ignore education and Higher education cegs
    • B) The Selling Price of a product ‘X’ inclusive of excise duty @ 20% and Sales Tax @ 13% j Rs. 1695 per unit. If 40 units are Manufactured and sold find out the assessable value excise duty per piece and total excise duty payable
16. Q3 Mumbai post office provided the following service to person other than Gove: ment during the quarter ending 31-03-2017 all changes are exclusive of Servic
17. Q1 Mail Services 1,00,000
18. Q2 Transfer of Money though Money order 5,00,000
19. Q3 Operation of Saving Accounts 1,50,000
20. Q5 Distribution of Mutual Fund, Bonds 5,00,000
21. Q6 of postal orders 3,00,000
22. Q7 Collection of Telephone and Electricity Bills 1,00,000 Compute the Service Tax liability of Mumbai post office for the quarter ending 7 2.3 Mr. Famous provides the following Services for the year. 15
23. Q2 Sale of time slot for advertisement on television Rs. 10,00,000
24. Q3 Changes for preparation of advertisement for VODAPHONE Rs. 15,00,000
25. Q4 Advertisement Via Space in print media Rs. 20,00,000
26. Q5 Commission changes for canvassing advertisement Rs. 25,00,000
27. Q6 Sale of time slot for advertisement on Radio Mirchi Rs. 30,00,000 Compute the value of Service Tax and Service tax payable thereon if all charges are exclusive of Service Tax. Ignore Small Service providers exemption 08 2-4 A) State with reason whether the following are considered goods or not as per
28. Q3 Roads 4) By product : B) State with reason whether the following activity is a manufacure or not as per provisions of Central Excise Act
29. Q1 Resell of Ball bearings 2) fruit pulp to fruit drink
30. Q3 polishing of chain 4) Repairing and reconditioning of T.V
31. Q2 4 Determine the point of Taxation in each of following independent cases in accordance with point of Taxation Rule 2011. 15 Sr. Date of Invoice Date on which payment in received No, Provision of
    • A) Explain Type of Duties in Central Excise Act. 08
    • B) “Service Provided by employee to employer is not service” Explain. 07 Write short note : (Any 3) 15
32. Q3 Agriculture Services

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