BCom In Accounting & Finance (BCAF) SEM V 2023 2024 Dec 2024 TAXATION IV Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 All questions are compulsory with internal choices.From Q2 to Q4
2. Q2 Attempt either “A” and “B” or “C” and “D”
3. Q3 From Q5 do either “B” or “C”
4. Q1 (A) Select the correct alternatives and rewrite the sentences (Any 8) 8 marks
5. Q1 Rate of tax in compositions scheme for retailer CGST and SGST together is
6. Q2 M/s Suraj of Gujarat supplies goods to M/s Viraj of Delhi, this will classify as (Intra State supply, Export supply, Inter State supply, Deemed supply)
7. Q3 IGST stands for (Integrated Goods and Services Tax, Intra State goods and Services Tax, International Goods and Services Tax, Internet Goods and Services Tax)
8. Q4 Every deposit made towards tax, interest, penalty fee or any other amount shall be credited to
9. Q5 The first 2 digits of GSTIN represent (Entity code, Country code, State code, Checksum character)
10. Q6 For services of Beauty Treatment, the place of supply is the location (Of recipient, where services are actually performed, of Supplier, of registered Person)
11. Q7 To take input tax credit in time, the person should pay the supplier of goods and services within
12. Q8 An interstate supplier is required to get registered under GST (Compulsorily, Exempted, Exempted subject to certain conditions, Voluntary)
13. Q9 supply comprise of two or more supplies that attracts highest rate of tax
14. Q10 GST is charged on of goods or services Paper Subject Code: 44806 Taxation - IV (Indirect Taxes - IT)
15. Q1 (B) State whether the following are True or False: (Any 7) 7 marks
16. Q1 First copy of invoice is marked for transporter
17. Q2 Tax Invoice for goods is prepared in duplicate
18. Q3 Discount is included in computing transaction value
19. Q4 Value of supply includes GST
20. Q5 Exports is Zero rated
21. Q6 Rate of Tax on Composition for traders is 10%
22. Q7 Consideration shall include any subsidy by government
23. Q8 GST applied to whole of India including the territorial water
24. Q9 ITC can be claimed on purchase of goods for personal use
25. Q10 Registered person can only claim input tax Credit
26. Q2 (A) M/s Vijay works registered in state of Maharashtra, provides following details for the month of August. Calculate its net Tax Liability for the month of August 2023 (15 Marks) Transactions during the month:
27. Q2 (B) Mr. Kishan, registered in state of Uttarakhand provides following details for the month of October. Calculate his net Tax Liability for the month of October 2023. Excess IGST ITC to be utilized in Ratio 50:50 (15 Marks) Transactions during the month: Paper Subject Code: 44806 Taxation - IV (Indirect Taxes - IT)
28. Q3 (A) Find the time of supply in the following case 8 marks
29. Q3 (B) Find out place of supply in the following cases 7 marks
30. Q1 an architect firm of Mumbai, receives a contract to design shopping mall at Dubai They courier papers to M/s Shaikh Mall, Dubai
31. Q2 Mr.Vimal of Pune got mobile connection from Jio Mobile on post-paid basis
32. Q3 Mr. Virat of Nashik purchase mobile card on prepaid basis from M/s Kartik Mobile Ltd Nashik for
33. Q4 Harshit having registered office in Meerut, imported goods into India from Singapore
34. Q5 Mr. Rajesh imports Tourist Bags from China for her Shop (Registered in Mumbai)
35. Q6 Rakesh Bhansali from Delhi purchase laptop from electronic stores in Maharashtra. Rakesh bhansali takes delivery for laptop in Maharashtra
36. Q7 Dr. Rishi of Mumbai performed cosmetic surgery in mumbai on Shreedhar of Delhi for Rs
37. Q3 (C) Determine Place of Supply and give Reasons. Gati transport to Karnataka.Delivery terminates at karnataka caterers on its Mumbai-Bangalore Flight Paper Subject Code: 44806 Taxation - IV (Indirect Taxes - IT) 8 marks
38. Q3 (D) Ms.Kamlesh entered into a contract with Ms. Kanika for supply of Machine. Marks) Value of Machine including GST @ 28% 16,64,000/
    • b) Commission 27,000/
    • c) Designing Charges 12,000/
    • a) Subsidy received from Central government 1,20,000/
    • b) Subsidy received from third party 70,000/
    • c) Customized Packing charges paid by Ms. Kamlesh on request of Calculate value of supply?
39. Q4 (A) Mr. Amish is new dealer dealing only in goods. From the following information find out on which day he will be liable to register under GST. Give reasons for your answer ( 8 Marks)
40. Q4 (B) Calculate Aggregate Turnover of Mr. Hemant based on the following details given by him: Paper Subject Code: 44806 Taxation - IV (Indirect Taxes - IT)
41. Q4 (C) Following are the activities/transactions decide whether goods and services tax shall be levied on them. (8 Marks)
42. Q1 Job work of Agriculture Rs 1 lakhs
43. Q2 Charges for printing work undertaken for the client Rs 2 lakhs
44. Q3 Charges for textile processing work for the client Rs 3 lakhs
45. Q4 Charges for cutting polishing work of diamond and gemstones for the client Rs 4 lakhs
46. Q5 Charges for manufacture of alcoholic drinks Rs 5 lakhs
47. Q6 Transfer of a Partnership firm, which is a going concern Rs 6 lakhs
48. Q7 Sale of goods which is liable to nil rate of duty Rs 7 lakhs
49. Q8 Sale of goods which is liable to @ 12% Rs 8 lakhs Compute Value of taxable services and Non-taxable Services
50. Q4 (D) M/s IKAIASAI and Company from Prabhadevi gives the following information regarding supply of goods. You are required to find out the date from which the company is liable for registration under GST
51. Q5 (A) What are the conditions and restrictions under composition Scheme? 8 marks
    • (B) What is the need for and advantages of Registration under GST? 7
52. Q5 Write Short Notes (Any 3) 15 marks
    • c) Aggregate Turnover
    • d) E-Way Bill
    • e) Transaction Value

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