BCom TY BCom Sem 6 2022 2023 Apr 2023 DIRECT AND INDIRECT TAXATION PAPER II Question Paper - Mumbai University | munotes

Questions asked in this paper

• (2) Figures to the right indicate full marks allotted to the question

1. Q1 a): Select the most appropriate option and rewrite the full sentences: (Any Ten) 10 marks
2. Q1 SGST is applicable when
   • (a) Goods are sold within the state
   • (b) Goods are sold from one GST dealer to a customer
   • (c) Goods are sold from one GST dealer to another GST dealer
   • (d) Inter-state supply
3. Q2 is the threshold limit of turnover in the preceding financial year for opting to pay tax under the composition scheme for special category states
4. Q3 is exempted from GST
   • (a) Any Business exhibition
   • (b) A business exhibition in India
   • (d) None of the Above
5. Q4 Tax invoice must be issued by on supplies made by him
   • (a) Every supplier
   • (b) Every person
   • (c) Every registered person not pay tax under composition
   • (d) All the above
6. Q5 The liability to pay tax on goods shall arise at the
   • (a) Dispatch of goods
   • (b) Removal of goods
   • (c) Time of supply
   • (d) Delivery of goods
7. Q6 Mr. Kamalesh purchased goods for which tax invoice was Rs.1,00,800 including IGST of 12% The Input tax credit under IGST shall be
8. Q7 refers to receipt of goods or services or both whether by purchase, acquisition or any other means with or without consideration
   • (a) Outward supply
   • (b) Inwards Supply
   • (c) Taxable Supply
   • (d) None of these
9. Q8 Supply of goods and services which constitutes predominant element of composite supply is
   • (a) Common Supply
   • (b) Principal Supply
   • (c) Mixed Supply
   • (d) Continuous Supply
10. Q9 Tax rate on Goods is determined by
    • (a) Union Budget
    • (b) State Budget
    • (c) GST council
    • (d) Central Government in consultation with state government
11. Q10 Every person shall have in order to be eligible for grant of registration under GST
    • (a) Aadhar card
    • (b) TAN Number
    • (c) PAN Number
12. Q11 Transfer of the title in goods is a supply of
    • (a) Goods
    • (b) Services
    • (c) Both
    • (d) None of these
13. Q12 GSTIN refers to
    • (b) GST Information and Network
14. Q1 b): State whether the following statements are True or False: (Any Ten) 10 marks
15. Q1 The balance of CGST credit after set-off CGST can be used towards the payment of IGST
16. Q2 Value of supply is the amount upon which tax is levied and collected
17. Q3 A registered person supplying taxable goods shall issue a tax invoice within 30 days from the date of supply of goods
18. Q4 The place of supply of training services will be where services are actually performed, whether the recipient is registered or not
19. Q5 Goods and Service Tax is a supply-based tax
20. Q6 Under forward charge, the recipient of goods or services is liable to pay tax
21. Q7 Services to the Reserve Bank of India are exempt
22. Q8 Place of supply of goods exported from India shall be the location of an exporter
23. Q9 Services by any court or tribunal established under any law is the supply of services
24. Q10 The rate of composition for trading firms is 5%
25. Q11 Under GST law, the Value of supply shall not include incidental expenses
26. Q12 Input Tax Credit shall be allowed only on the support of Tax Invoice
27. Q2 a) Mr. Vijay is an Engineer, provides you with the following information 10 marks
28. Q1 Received fees for advice in relation to setting up an Institute
29. Q2 Received fees for professional advice to his friend 1,75,000
30. Q3 Fees received for technical assistance in software 1,25,000
31. Q4 Professional advice to his friend free of charge 85,000
32. Q5 Received fees for consultancy services in Networking 1,50,000
33. Q6 Salary received from employer for part-time job
34. Q7 Purchase of stationary for office work 1,60,000 Compute the value of Taxable Services and the Goods and Services Tax payable. All amounts given exclude Goods and Services Tax. Rate of CGST @ 9% and SGST @ 9%
35. Q2 b) Determine the Time of supply in each of the following cases as per the provisions of GST Act Sr. No. | Date on which Date of Invoice Date of receipt of are made available payment
36. Q2 c) Classify the following activities as Taxable Supply and Non-Taxable Supply 10 marks
37. Q2 d) Determine the Time of supply in each of the following cases as per the provisions of GST Act Sr. No. Date of Supply Date of Invoice Date of Receipt of
38. Q3 (a) Mr. Sanjay, registered in state of Maharashtra, provides your following details for the month April, 2022. Calculate Net Tax Liability of GST. (10) Opening Balance in Electronic credit ledger as on 1* April,2022
39. Q3 (b) Determine the place of Supply in following cases with reasons: 10 marks
40. Q1 Mr. Arbaz is an engineer of Delhi who gives services for the construction of plant in Mexico
41. Q2 Mr. Shrimant, a registered person, of Jharkhand sends goods through courier to one of his friends in
42. Q3 Mr. Kashinath, resident of Kandivali, takes landline telephone connection from a company based in
43. Q4 TISS company of Pune has contracted with Training Institute in Mumbai to train their employees The training was given to employees in Bangalore
44. Q5 Ms. Sadhana of Jaipur not having bank account in Cochin takes a demand draft from Central Bank of Cochin for the purpose of education
45. Q3 (c) From the Following details calculate Net GST Liability. Mrs. Seema a registered dealer in the state of Maharashtra provides you with the following details for the month of April 2022 Opening Balance in electronic credit ledger as on 1“ April, 2022 Transactions during the month Amount Sold goods @ 5 % GST to Abhijeet in Mysore 6,00,000 Purchased Goods @ 12% GST from Kalwa 50,000 10 marks
46. Q3 (d) Determine the place of Supply in following cases with reasons: 10 marks
47. Q1 Ms. Aditi of Mumbai visits a hotel located in Satara and stays for 15 days
48. Q2 Mr. Krishna of Panjim purchases a ticket for watching a movie in Delhi
49. Q3 A caterer provides services on board in train during Mumbai-Chennai which is not included in
50. Q4 Mr. Rajnish of Rajapur purchased a mobile from a shop in Baroda, Gujrat
51. Q5 Mr Nayak residing in Kolkata, travels by Jet Airlines from Mumbai to Bangalore and gets travel Insurance done in Chennai
52. Q4 a) M/s Raja Enterprises has provided the following particulars relating to the goods sold by it to List price of the Machine 4,50,000 (Exclusive of Expenses, Taxes and Discount) Tax levied by Municipal Corporation on sale of goods 45,000 CGST and SGST chargeable on the goods 54,000 Charges for designing the machine 24,000 Commission paid by M/s Rani Enterprises on behalf of M/s Raja Enterprises 5,000 Subsidy received from NGO 21,000 (The list price of Rs.4,50,000 is after considering the subsidy) M/s Raja Enterprises offers 10% trade discount on the list price of the goods Determine the value of Taxable supply made by M/s Raja Enterprises. Also, calculate SGST @ 9%
53. Q4 b) Abhinav Ltd. is a manufacturing concern in Maharashtra. It wants to opt for a composition scheme. It furnishes you with the following information for the year 2022-23
    • a) Are they eligible to opt for the composition scheme?
    • b) If yes, then calculate their composition tax liability (SGST @ 0.5% and CGST @ 0.5%) The break-up of supplies is as follows: Intra-state supplies which are wholly exempt 50,00,000 Value of inward supplies, which tax is payable under Reverse charge 15,00,000 Intra-state supplies of goods to Mr. Ramesh (Tax rate @ 12%) Intra-state supply of goods to Mr. Rajesh charged at Nil rate of tax 22,50,000 Intra-state supply of taxable goods to Mr. Suresh (Tax rate 18%) All amounts are exclusive of GST M/s Ajay Enterprises, a registered supplier, provides you the following details with respect to the contract entered with M/s Vijay Enterprises for supply of goods. (10) Value of goods (inclusive of SGST @ 9% and CGST @ 9%) 5,90,000 Taxes other than CGST/SGST Following expenses were incurred by M/s Ajay Enterprises:
    • a) Insurance charges 11,800;
    • b) Packing charges 12,200;
    • c) Transport charges 20,000 | 44,000 Testing charges incurred by M/s Vijay Enterprises on behalf of M/s Ajay 5,000 Designing charges incurred by M/s Vijay Enterprises, not on behalf of 7,500 Subsidy received from the Association of Traders 10,000 (List price is after considering the subsidy) Calculate the value of supply and the tax of SGST @ 9% and CGST @ 9%
54. Q4 d) M/S Anand and company is carrying business in Mumbai of Selling Groceries. The company started business on 06/02/2023. His turnover is as follows: Are they liable to obtain registration under GST? If, yes, from when? (10) Date Taxable Supply within the Export supply Exempt supplies
55. Q5 (a) Explain the Benefits of Goods and Services Tax 10 marks
    • (b) Distinguish between:
56. Q1 Direct Tax and Indirect Tax 5 marks
    • ii) Casual Taxable Person and Non-Resident Taxable Person Write a short note on any four of the following: (20) 5
    • a) Aggregate turnover
    • b) Time of supply of Goods
    • d) Intra-state Supply and Inter-State Supply
    • e) Mixed Supply
    • f) Composition Scheme
57. Q2 at

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