BCom TY BCom Sem 6 BCom Sem 6 (2018 2019) April 2019 DIREST AND INDIRECT TAXES PAPER II INDIRECT TAX Question Paper - Mumbai University | munotes

Questions asked in this paper

• Please check whether you have got the right Question Paper

1. Q1 Figures in brackets to the right indicate full marks allotted to the question
2. Q2 Working notes should form part of your answers
3. Q3 All questions are compulsory, although, there are internal options
4. Q4 Use of simple calculator is allowed
5. Q1 a) Rewrite the following full statements and state whether the statements are true or false: 1.Service Tax is a form of an Indirect Tax
6. Q2 Service Tax is paid on trading of goods and services
7. Q3 Negative List specifies the services which are not liable for Service Tax
8. Q4 Service Tax extends to the whole of India
9. Q5 Every person liable to pay service tax must apply for registration
10. Q6 There is no provision for filing Returns of Service Tax
11. Q7 The term service includes “Declared Service’
12. Q8 Service Tax Code (STC) is a 15 digit numeric code
13. Q9 Electronic payment of Service Tax is mandatory for all assesses
14. Q10 Service Tax came into force w.e.f. 1* July, 1994
15. Q1 b) Re-write the following full sentences by selecting the correct option under the provisions of Maharashtra Value Added Tax Act, 2002: (Attempt Any 7) 7 marks
16. Q1 A Tax Invoice is to be issued by
    • a) any dealer, whether registered or unregistered
    • b) only by an importer
    • c) only by a registered dealer
17. Q2 ‘Dealer’ as defined under MVAT Act, 2002 does not include
    • a) Shipping Company
    • c) Agriculturist
18. Q3 ‘Goods’ as defined under MVAT Act, 2002 include
    • a) shares
    • b) newspapers
    • c) growing crops
    • a) local sales
    • b) interstate sales
    • c) both on material used for packing goods specified in Schedule A
    • b) Nil / Subject Code: 11115 Applied Component Group: Paper I : Direct and Indirect Taxes.Paper II - Indirect Tax
19. Q6 VAT is charged
    • a) by the first dealer only
    • b) by the last dealer only
    • c) by all the dealers
    • a) April, 2002
    • b) April, 2005
    • c) 1* April, 2004
20. Q8 Value Added Tax is a form of
    • a) Service Tax
    • b) Sales Tax
    • c) Income Tax
    • a) Zero
    • b) Single
21. Q10 Composition Scheme under Section 42 can be availed by
    • a) importer
    • b) wholesaler
    • c) retailer
22. Q2 From the following information of April ,2017 given by Mr Govind, compute the value of taxable as well as non-taxable services. (All amounts given are excluding Service Tax Amount received from agricultural land used for poultry farming | 2,00,000 Amount received for supply of farm labour. 1,00,000 Amount received from rearing of silk worm. 2,00,000 Amount received from plantation of tea & coffee Rent from mobile tower in residential area 2,50,000 Trading in mobile chargers Amount received on withdrawing money from bank 1,20,000 Rent from building let out to Sharada Coaching classes 5,00,000 Residential house let out to Mr. Abhinav Amount received from Government for seed subsidy Fees received for Investment consultancy services 1,20,000 Renting of farmhouse for marriage & birthday parties 2,50,000 On-site development of software 1,00,000 / Subject Code: 11115 Applied Component Group: Paper I: Direct and Indirect Taxes.Paper II - Indirect Tax
23. Q2 From the following information of June, 2017 given by Mr. Neelkanth, compute the value of taxable as well as non-taxable services.(All amounts given are excluding Service Tax Commission on purchase and sale of food grains. 400,000 Commission for acting as clearing and forwarding agent 4 20,000 Amount received for trading in Government Securities Amount received for trading in shares 3,00,000 Rent of land used for agricultural purpose. 1,00,000 Amount received on Postal coaching fees for University Examinations Trading in Oils and Biscuits Amount received on withdrawing money from bank 1,20,000 Amount received from cultivation of ornamental flowers Amount received for supply of farm labour. 2,00,000 Amount received from Government for construction of Dam. 8,00,000 Fees received for Investment consultancy services 3,00,000 Amount received for sale of old furniture 50,000
24. Q3 Jai Ganesh & Co, a registered dealer, provides the following information for April, 2017 You are required to calculate the tax liability for April, 2017 as per the provisions of
25. Q2 Sales
26. Q6 Opening Balance (Credit) in VAT Credit Receivable Account brought forward from
27. Q7 Tax Rate for goods listed under Schedule A=NIL, Schedule C=6%, / Subject Code: 11115 Applied Component Group: Paper I: Direct and Indirect Taxes.Paper II - Indirect Tax
28. Q3 Jai Shree Ram Enterprises, a manufacturer and Registered dealer, furnishes the following information for April, 2017. You are required to calculate the tax liability under Maharashtra Value Added Tax Act, 2002 for April, 2017 15 marks
29. Q4 Purchase of Packing
30. Q5 Opening Balance (Credit) in VAT Credit Receivable Account brought 3,000
31. Q6 Tax Rate for goods listed under Schedule A=NIL, Schedule C=6%,
    • a] Determine from which day does Sanket is liable for registration under MVAT 8
32. Q4 b] Determine the Point of Taxation [POT] in each of the following cases according to Point of Taxation Rules / Subject Code: 11115 Applied Component Group: Paper I: Direct and Indirect Taxes.Paper II - Indirect Apna Bazar Stores has given you the following information. You are required calculate tax payable for the month of April 2017 7 marks
33. Q4 d] State whether following are ‘Service’ or not as per Service Tax Provisions. 7 marks
34. Q1 Donation Received by Charitable Trust
35. Q2 Service for non-monetary consideration
36. Q3 Services by employee to employer
37. Q5 Services by Government
38. Q6 Court fees paid to High Court
39. Q7 Service provided by Branch to the Head Office
40. Q5 a) Explain with reason whether the following are ‘Goods’ or not as per Maharashtra Value Added Tax Act, 2002 (any Four): (08)
    • (i) Land
    • (11) Lottery Tickets
    • (v) Plant and Machinery
    • b) What is Negative List? Describe any five services covered under Negative list
41. Q5 Write Short Notes (any three): 15 marks
    • (a) Sale Price under MVAT
    • (b) Registration under MVAT
    • (c) Features of Service Tax
    • (d) Any Five exempt services
    • (e) Payment of Service Tax / Subject Code: 11115 Applied Component Group: Paper I: Direct and Indirect Taxes.Paper II - Indirect Tax
42. Q2 Sar SATA, / Subject Code: 11115 Applied Component Group: Paper I: Direct and Indirect Taxes.Paper II - Indirect Tax AT Ga Sl / Subject Code: 11115 Applied Component Group: Paper I: Direct and Indirect Taxes.Paper II - Indirect Tax
43. Q2 A FAT,

Read from the scan above, so a character or two may differ. The scan is the original.