Bachelor of Commerce (B.Com.) TY BCom Sem 6 BCom Sem 6 (2018 2019) Oct 2018 DIRECT AND INDIRECT TAX Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 (a) Rewrite following statements and state whether they are True or False as provisions of serivce tax laws (any eight): Tax was introduced with effect from 1 July, 1994 taxable services are without consideration Service Tax is applicable in Jammu and Kashmir e Service tax is a tax on goods Service Tax Payer Code (STP) is a 15 digit code Deemed sales are treated as service Temporary transfer of patent is not taxable Service tax return is required to be filed monthly The certificate of registration under service tax is issued in form ST - 3A 8 marks
   • (b) Re-write the following sentences by selecting the appropriate option as per the 7 provision of the Maharashtra Value Added Tax Act, 2002
2. Q1 Goods listed under Schedule B includes
3. Q2 Under composition scheme, Tax Rate for construction contract is
4. Q3 Sales does not include Sales of scrap Pledge of goods Sale of car held as business asset
5. Q4 Sales turnover for the purpose of registration includes Both taxable and tax - free sales
6. Q5 A product is sold at basic price of per unit, excise there on is = 10 per unit, packing chorges is 5 per unit and MVAT is 10 per unit. The sale / Subject Code: Applied Component Group: Paper I : Direct and Indirect Taxes.Paper Indirect Tax
7. Q6 Kavita & Co purchased Sechedule B goods from registered dealer for 60,000 and sold them for 70,000 (both excluding tax) the net VAT payable will be
8. Q7 A Retailer who opted for composition scheme has sales of 28,00,000 for both taxable goods and tax free goods. His purchases from Registered Dealer are 15,00,000 The tax payable under composition scheme is
9. Q8 Mr Jogdande from Beed (Maharashtra) purchased goods for 25,500 (inclusive of CST of 500) from Mr Bhoj from Guna (M.P).He sold these goods to Mr Mumbaikar of Mumbai for 36,000 (inclusive of VAT @ 12.5%) , the VAT Payable is
10. Q9 Set-off can be claimed on purchase of goods debited to Proft and Loss a/c Both the above
11. Q10 Taxable purchase for the purpose of registeration Purchase of Schedule A Goods within Maharashtra Purchase of Schedule E Goods within Maharashtra Purchase of Schedule C Goods outside Maharashtra / Subject Code: Applied Component Group: Paper I : Direct and Indirect Taxes.Paper Indirect Tax
12. Q2 From the following information for May, 2017 supplied by Mr. Kaustubh. Classfiy the services as taxable or taxfree and compute the value of total taxable services for the month of May 2017 (Ignore threshold limit, All amounts are given excluding service 15 marks
13. Q3 | Amount received for sale of time for advertisement to be broadcasted on FM radio 70,000
14. Q4 | Amount received for sale of time for advertisement to be
15. Q5 | Amount received for sale of space for advertisement in yellow Amount received from sale of space for advertisement in news
16. Q7 | Amount received from advertisement on cover & back pages of [Amount om cleaning of washrooms 14.| Amount received from sale of space for advertisement on different / Subject Code: Applied Component Group: Paper I : Direct and Indirect Taxes.Paper Indirect Tax
17. Q2 From the following information for April 2017 supplied by Tom Bank Ltd. Classfiy the services as taxable or taxfree and compute the value of total taxable services for the month of April 2017 (Ignore threshold limit, All amounts are given excluding government for tax collections 7,00,000 15 marks
18. Q6 | Discount earned on bills discounted 4,00,000
19. Q8 | Interest on and cash eredits
20. Q9 | Interest earned on corporate Delayed payment charges for credit cards 13,00,000
21. Q3 Janaki Vallabh a registered dealer, gives following information as per provisions of the Maharashtra Value Added Tax Act, 2002 for May 2017. Calculate his tax liability for the month / Subject Code: Applied Component Group: Paper I : Direct and Indirect Taxes.Paper Indirect Tax Iron and steel for construction of factory building Schedule E goods — 50,000 Machinery used exclusively for manufacturing tax free goods MVAT Refund Received in the month 250 15 marks
22. Q4 Tax Rates for Goods listed under
23. Q3 Raghunath, a registered dealer, gives following information, as per provisions of the Maharashtra Value Added Tax for May 2017.Calculate his tax liability for the month Computer software purchased for own use Schedule C Goods 35,000 Packing Material Purchases for Packing Tax free Goods MVAT Refund Received in the month 575 15 marks
24. Q4 Rates for Goods listed under / Subject Code: Applied Component Group: Paper I : Direct and Indirect Taxes.Paper Indirect Tax
25. Q4 (a) Sita started her business on 2rd April, 2017. From the following information find out the date from which she will be liable for registration as per the provisions of the Maharashtra Value Added Tax Act, 2002 8 marks
26. Q4 (b) Determine the Point of Taxation in each of the following cases in accordance (07 with the Point of Taxation Rules, 2011 Sr.No. | Date of completion Date of Date on Amount of service Invoice which payment / Subject Code: Applied Component Group: Paper I : Direct and Indirect Taxes.Paper Indirect Tax
27. Q4 (c) Compute 'Sale Price' chargeable to tax as per provisions of the Maharashtra Value
28. Q4 (d) Mr. Desai's Service tax payable for October, 2016 to March, 2017 is given below: Due dates of online service tax payments 8 marks
29. Q2 Amounts to be paid for each period
30. Q3 Due date of filing the service tax return for above period
31. Q4 If the return is filed on 10th April, 2017 the amount of penalty
32. Q5 State whethet the following persons are a 'Dealer' or not as per provisions of the Maharashtra Value Added Tax Act, 2002. (any four) 8 marks
    • (ii) Praful purchased 100 saries for distribution in a marriage ceremony (it) Lalbaugh Ganesh Utasav Madal, selling devotee's coconuts by auction / Subject Code: 11115 Applied Component Group: Paper Direct and Indirect Taxes.Paper H Indirect Tax
    • (b) Give any four examples of excluded services u/s 65B(44) of the Finance Act, 07
33. Q5 Write short notes (any three) 15 marks
    • (i) Goods under the MVAT Act, 2002
    • (ii) Composition scheme under the MVAT Act, 2002
    • (iii) Payment of service tax
    • (iv) Registration under service tax laws
    • (v) Legal services under service tax laws / Subject Code: Applied Component Group: Paper I : Direct and Indirect Taxes.Paper Indirect Tax
34. Q8 (H) Al / Subject Code: Applied Component Group: Paper I : Direct and Indirect Taxes.Paper Indirect Tax / Subject Code: 11115 Applied Component Group: Paper Direct and Indirect Taxes.Paper H Indirect Tax
35. Q2 art 2080 Sara
36. Q2 om / Subject Code: Applied Component Group: Paper I : Direct and Indirect Taxes.Paper Indirect Tax
37. Q2 Gal

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