Bachelor of Management Studies (B.M.S.) SEM VI 2018 19 May 2018-19 FINANCE INDIRECT TAXES Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q2 Working Notes should form part of your answer
2. Q3 Figures to the right indicate full marks
3. Q1 (A) Select the most appropriate alternatives from those given below and rewrite the
4. Q1 Chairperson of the GST council is
   • a) Union minister of state incharge of b) Union Finance Minister
   • c) One elected person amongst the state d) Minister incharge of finance and
5. Q2 Mr. A of Gujarat supplies goods to Mr. X of Delhi, this will classify as
   • a) Intra state supply state supply
6. Q3 For banking and financial services, place of supply is
   • a) Location of recipient in records of b) Location of supplier
   • c) Location of head office d) Either (a) and if (a) is not
7. Q4 Every electronic commerce operator required to collect tax at source has to furnish a statement in
   • a) Taxable supplies Inter-state supplies
   • c) Export of goods and services d) All the above
8. Q6 Anon resident person having may take registration as a casual taxable person
   • c) PAN d) Both (a) and (b)
9. Q7 The first 2 digits of GSTIN represent 2 marks
   • c) State Code d) Checksum character
10. Q8 is the time of supply of vouchers in respect of services when the supply with respect to the voucher is identifiable
    • a) Date of issue of voucher b) Date of redemption of voucher
    • c) Earlier of (a) and (b) d) (a) and (b) whichever is later
11. Q9 Place of supply for services by way of admission to events are
    • a) Place where event is actually held b) Location of recipient
    • c) Location of supplier d) None of the above
12. Q10 Place of supply when goods are imported into India is
    • a) Location of importer b) Location outside India
    • c) Location of supplier d) None of the above
    • B) Match the following (Any 7 10) etroleum products on Resident taxable person GSTR 5 Person supplying goods wholly exempt from tax Goods exported from India UTGST Not liable for registration Recipient is liable to pay GST Electronic credit ledger GST yet to be notified 7
    • (10) Pondicherry 45 days from the date of supply of service
13. Q2 (A). Find the place of supply of goods from. the following transactions give explanation to the answer. (08)
    • a) Mr. A of Nasik, Maharashtra sells 20 refrigerators to Mr. C of Ahmadabad, Gujarat for delivery at Mr. C’s place of business in Ahmadabad assemble a power plant in its Kutch, Gujarat
    • c) Mr. Ashwin of Pune places order on Mr. Amod of Mumbai for delivery of certain goods. Mr Ashwin directs Mr Amod to deliver goods to Mr. Rahul in Indore
    • d) Mr. Z purchases coffee and snacks on board at Airjet Mumbai to Delhi flight when the aircraft flying over Gujarat. The food items were loaded into aircraft at Mumbai
14. Q2 (B) Find the time of supply of goods from the following transactions and give explanation to the
15. Q1 Determine the time of supply in the following cases where supply involves movement of goods
16. Q2 Determine the time of supply from the following, if there is continuous supply of goods
17. Q2 (P) M/s Radha traders supplied certain goods worth Rs. of GST) and Equipments worth Rs.8, 50,000 (excluding GST) to Geeta works. Compute the value of supply and also GST e M/s Radha traders gave a discount of Rs.20,000 on equipments e Taxes other than GST charged separately by M/s Radha traders Rs.12,000 on goods and Rs.21,000 on Equipments e GST rate applicable on Goods is 5% and Equipments 12% Find the time of supply of services from the following transactions explanation to the answer. (07)
18. Q1 Determine time of supply of services (normal Case)
19. Q2 Determine time of supply of services (RCM Case) invoice service books of accounts account
20. Q3 From the following information for November,2018 calculate the value of taxable and not taxable services assuming that goods and service tax is not included in amounts. (15) 3 House is let out to individual for 7,00,000 5 Sale and purchase. of 10,00,000
21. Q3 Mr. Pratik is a new dealer. From the following information find out on which day he will be liable to register under GST, give reason for your answer. (15) Ms. Dipti registered in state of Uttar Pradesh provides following details for the month of October Calculate her net tax liability for the month of October. Closing balance in electronic credit ledger as Provided Services @ 12% GST to Akash in west Bengal | 8,75,000
22. Q4 A Calculate aggregate turnover of Mrs. Sneha based on the following information 8 marks
    • c) Export of goods Rs.2, 30,000
    • d) Inward supplies on which tax is payable under Reverse charge Rs.50,000
    • f) Intra state supply of goods with Nil rate Rs.8,50,000
23. Q4 B Kunal who is a manufacturer in Thane provides the following information. Explain whether Kunal is eligible to opt for composition scheme in financial year. (07)
    • c) Intra state supplies which are wholly exempt Rs.34, 60,000
    • d) Value of inward supplies on which tax is payable under RCM Rs.5, 40,000
24. Q5 A. Explain GST and features of GST 8 marks
25. Q5 B. Explain composite supply and Mixed supply with example. 7 marks
26. Q5 Short Notes (Any 3) 15 marks
27. Q1 Inter and Intra state supply
28. Q2 Supply with consideration
29. Q3 Definition of Goods and Services under GST of supply of goods in case of Voucher

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