Master of Commerce (M.Com.) MCom Accountancy SEM IV ADVANCE ACCOUNTANCY ADV.ACCTG,CORP.ACCT & FIN.MGMT Indirect Tax Introduction Of Goods And Service Tax Question Paper - Mumbai University | munotes

Questions asked in this paper

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1. Q1 Mr. Anirud is a dealer from the state having his business in the state of Punjab, from the information available below for transactions related to his business find the date on which he will be liable to register under GST. Give reason for your answer. [15]
2. Q1 Mr. Rohit has his place of business in the state of Meghalaya his business transaction during the period are as follows advice him whether he needs to register his business under GST . [15]
3. Q2 Compute the GST liability of Wheat Agro Ltd. For the month of August ,2018 if all the below transactions are exclusive of goods.and service tax. Applicable rate of GST tax is 18% . [15] 06 Group A: Advanced Accounting, Corporate Accounting and Financial Management: Indirect Tax- Introduction
4. Q2 Compute the value of non taxable and taxable value of goods and services and also the GST liability of Mr Prakash Ltd. For the month of July,2018 if all the below transactions are exclusive of goods and service tax. Applicable rate of gst tax is 18% . [15]
5. Q3 Tek Pvt Ltd. Is registered in Maharashtra, it provides the following details for the month of Calculate the tax liability for the month of January,2019 Opening balance in Electronic Ledger as on 1* January, 2019 is as follows: Transactions during the month exclusive of tax Rs > Availed services @ 5% GST from Beed, Maharashtra 5,60,000 > Purchased goods@ 28% GST from Surat , Gujarat > Provided services @18% GST to Ram of Tamilnadu 17,80,000 > Sold goods @12%GST to Seema of Maharashtra
6. Q3 APLA TECH Is registered in Madhya Pradesh , it provides the following details for the month of Calculate the tax liability for the month of December,2018 Opening balance in Electronic Ledger as on 1** December, 2018 is as follows: Transactions during the month exclusive of tax Rs Sold goods @12%GST to Mrs. Reena of Orissa Q A(A) State with reasons whether the following statements are True or False. [08] shall not be deducted where supplier, place of supply and recipient are in the same state
   • 2. Goods supplied/services rendered by agent are treated as supply by the principal
   • 3. Special or Adhoc exemption can be granted only on permission by the Apex court The first 2 characters of Goods and Services Tax Identification Number represents the state code certificate is to be furnished in form GSTR-7
   • 6. Services provided by SEZ unit are treated as inter-state supplies
   • 7. IGST is levied inter-state supplies except on supply of petroleum products Union Finance Minister is the Chairperson of the GST Council 06 Group A: Advanced Accounting, Corporate Accounting and Financial Management: Indirect Tax- Introduction
   • (B) Select the appropriate alternative and rewrite the statement 7
   • 1. CPIN stands for
   • 2. All liabilities of a taxable person are recorded and maintained in
   • 3. Place of business includes
   • a) Warehouse(b)Godown Any place where taxable person stores his goods
   • (d) All of the above
   • 4. Services rendered by an agent on behalf of principal are treated as rendered by
   • a)Agent (b) Principal (c) Either agent or principal (d)None of the above
   • 5. is levied on inter-state supplies of goods and services or both
   • 6. is the application form for registration of casual taxable person
   • 7. GST is based on consumption tax
7. Q4 Write short notes on (Any Three) 15 marks
   • 2.Place of Business
   • 4.Reverse Charge
   • 5.Principles adopted for subsuming the taxes

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