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

Questions asked in this paper

• Please check whether you have the right question paper
• 2) Figures to the right indicate full marks allotted to the question

1. Q3 Notes should form the part of your answer
2. Q5 of GST Act as on 01.04.2018 have to be considered. Amendments made to the act thereafter are to be ignored
3. Q1 <A) Select the most appropriate option and rewrite the full sentence. (Any Ten) : 10 marks
4. Q1 Liquor for human consumption is subject to :
   • c) IGST d) of the Above
5. Q2 Goods and Service Tax is a tax levied on goods and services at each point
   • c) Supply d) Manufacturing
6. Q3 The definition of “Goods” under the GST Act does not include
   • c) Actionable Claims Money and Securities
7. Q4 M/s. Deepak Enterprises of Mumbai supplies Goods to M/s Jyoti Associates Rajasthan, this will classify as :
   • c) Intra State Supply d) Inter State Supply
8. Q5 For services of Beauty Treatment, the place of supply is the location :
   • a) of recipient
   • b) services are actually performed
   • c) of Supplier
   • d) of registered Person
9. Q6 Maximum time for availing Input Tax Credit is
   • a) The date of filing of the Annual Return
   • b) Due date of filing of Return for the month of September
   • c) Earliest of (a) and (b) above
   • d) Later of (a) and (b) above
10. Q7 The Form used for Registration is
11. Q8 minimum turnover limit in GST that is applicable in the state of
12. Q9 The Tax deducted has to be paid to the Government within days after the end of the month in which deducted
13. Q10 Shyam purchased goods for which the tax invoice was including IGST of @ 12%. The input tax credit under IGST shall be :
    • c) d) None of the Above
14. Q11 Mr. Ujwal has an outward tax liability under IGST of The unutilized input Tax Credit available under CGST is 10,000/- and under SGST is the net liability payable would be
    • c) d) None of the Above
15. Q12 Transaction Value of Supply includes :
    • b) Incidental Charges
    • c) Taxes, duties other than GST
    • d) All of the above
    • B) State whether the following statements are True or False and Rewrite the full sentence (Any Ten) : 10
16. Q1 Acompany and its sole agent are not related persons
17. Q2 of Pan Masala is not eligible for composition levy
18. Q3 Time of supply fixes the point when liability to charge GST arise
19. Q4 is one of the two taxes charged on every intra state transactions
20. Q5 The aggregate turnover will be computed Permanent Account (PAN)
21. Q6 Salary received by director of XYZ Limited is liable for GST in the hands of the director Late fees and interest shall not be included in the value of supply
22. Q8 central tax shall not be utilized towards the payment of State Tax
23. Q9 Any Supplies made to SEZ Unit or SEZ Developer are Inter State Supplies the case of a sponsorship services provided by Mr. A to M/S. B limited, liability to pay GST is of M/S. B Limited A person cannot get registered under GST on voluntary basis
24. Q12 Supplier is not necessarily a registered person
25. Q2 Mr. Ashok is a Chartered Accountant provides you with the following information: Compute the value of taxable supply and GST Liability of Mr. Ashok. GST rate to be taken CGST 9 % and SGST 9% All amounts given are excluding GST 10 marks
    • B) Classify the following activities as taxable supply and non-taxable supply : 5
26. Q2 C) M/s. Kavita & Sons (Property dealer) provides you details of following activities during the month August, 2018. Compute the value of taxable supply and GST GST rate to be taken CGST 9 % and SGST 9% All amounts given are excluding GST 10 marks
    • D) Classify the following activities as taxable supply and non-taxable supply : 5
27. Q3 A) Mr. Alok, a registered dealer in Maharashtra, provides the following details for the month of March, 2019. Calculate his Net Liability under the GST Act : Opening balance in Electronic Credit Ledger : 7 marks
28. Q3 Purchased goods from Vinod and Co from Sangli 60,000
29. Q5 Purchased Goods from Jayant and Co from Mumbai 50,000 Note: 1. All amounts are exclusive of GST
    • B) Determine the place of supply in each of the following giving reasons (Any Four):
30. Q1 Deepak having registered office in Meerut, imported goods into India from Singapore, which were received at Mumbai Airport
31. Q2 M/s Siddhi Vinayak CHS Ltd., Mumbai, placed an order for Installation of Elevator with M/s Otis Elevators. The Elevator was installed at the society’s building in Mumbai
32. Q3 Deepali, a mehendi artist, based in Mumbai, travels to Udaipur, Rajasthan for an assignment for Bridal Mehendi
33. Q5 Ariit of Nanded, Maharashtra, sells 20 washing machines to M/s Abhijeet of Kota, Rajasthan for delivery at his registered address in Kota
34. Q3 C) M/s. Winwin Ltd., a registered dealer in the state of Maharashtra, provides the following details for the month of February, 2019. Calculate the Net Liability under the GST Act : Opening balance in Electronic Credit Ledger : 7 marks
35. Q4 Services availed from a consultancy firm in Katra (Jammu and | 1,00,000
36. Q5 Purchased Goods from Mr. Kishanlal, from Amritsar (Punjab). 50,000 The Tax invoice was received. However, the goods were not Note: 1. All amounts are exclusive of GST
    • D) Determine the place of Supply in each of the following giving reasons (Any Four): 1). Ustaad Zakir Hussein, Tabla Maestro, based in Mumbai, travels to Delhi for a performance at Delhi’s Pragati Maidan 8
37. Q2 M/s. BSNL Ltd. based in Delhi, supplied a landline to M/s. Speak up, in
38. Q3 M/s. A. K. Enterprises of Pune, Maharashtra sells 60 Television sets to M/s
    • K. A. Enterprises, Sangli & Maharashtra for delivery at Sangli, Maharashtra
39. Q4 Mr. Headcomb, a hairstylist, registered in Chennai, travels to Dubai to provide his services to Ms. Longhair, a resident of Dubai show at Muscat on the birthday of Mr. Tejkiran, a Mumbai based Registered
40. Q4 A) Udyog has provided the following particulars relating to the goods sold by it to Ganesh Enterprises List price of the Goods 60,000 M/s. Ganesh Enterprises received as subsidy from “Life is Good” a Non-Profit making Organization in respect of timely supply of goods The price of is after considering such subsidy. M/s. Shivai Udyog offers 5% trade discount on the list price of the goods Determine the value of Taxable supply made by M/s. Shivai Udyog. Also, 10 marks
    • B) Determine the time of Supply in each of the following cases as per the provisions of GST Act: M/s. Gurunath a registered supplier, provides you the following details with respect (10) to the contract entered with M/s. Shisha Enterprises for Supply of Goods : Value of Goods inclusive of IGST @18% 1,88,800 Taxes Other than GST 18,500 Following Expenses were incurred by M/s. Gurunath : 5
    • a) Insurance Charges 8,000
    • b) Freight Charges 5,000
    • c) Designing Charges 6,000 19,000 Following Expenses were incurred by M/s. Shisha Enterprises on behalf of M/s Expenses of was incurred on transportation by M/s. Shisha Enterprises not on behalf of M/s. Gurunath Subsidy of was received from the Udaan a NGO, list price is after Calculate the value of supply. Also, calculate Tax Payable
    • D) Determine the time of Supply in each of the following cases as per the provisions — of GST Act : 5
41. Q5 A) Gayatri Limited a trading concern in Maharashtra is a registered dealer and wants to opt for composition scheme. It furnishes you with the following information for 7 marks
    • a) Are they eligible to opt for the Composition Scheme?
    • b) If yes, calculate their composition tax liability The breakup of supplies are as follows : Value of Inward Supply on which tax is payable on Reverse 7,00,000 All amount are exclusive of GST
    • B) M/s. Sathe Bros. provide the details of transactions of their business from the State of Maharashtra during the month of October, 2018. Are they liable to get registered under GST? If yes, from when? 19.10.2018 Inward supplies on which tax is payable under 50,000 8
42. Q5 C) Speed Limited a trading concern in Maharashtra is a registered dealer and wants opt for composition scheme. It furnishes you with the following information for the 10 marks
    • a) Are they eligible to opt for the Composition Scheme?
    • b) If yes, then calculate their composition tax liability The breakup of supplies are as follows : Value of Inward Supply on which tax is payable on Reverse Charge All amount are exclusive of GST
    • D) State with reason whether the Dealer is required to get registered under GST or not. 8
43. Q1 trader in the Hilly regions of Uttarakhand makes taxable supply of Goods to a trader in Uttarakhand for a value of
44. Q2 M/s. Siddhi Enterprises operating in Meerut, supplies taxable services of
45. Q4 Ravindra, a farmer, sells agricultural goods worth Lakhs cultivated by him on his own land
46. Q5 Ms. Bhavisha situated in the State of Sikkim, supplies taxable goods worth
47. Q6 State the benefits of Goods and Services Tax. 10 marks
    • B) Explain in brief, the conditions for availing Input Tax Credit and the time limit to 10
48. Q6 C) Write Short Notes on (Any Four) : 15 marks
    • ii) Composite and Mixed Supply
    • iii) Supplier
49. Q3 Tad
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50. Q2 UM
51. Q3 ae at ca
52. Q8 SI
    • A) of. ard, a
53. Q2 ad 22%,
54. Q3 em
    • G) aes
55. Q3 2028 aM
56. Q2 ae A

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