Exam Seat No. J 82.)% hee ‘THE MAHARAJA SAYAJIRAO UNIVERSITY OF BARODA io SECOND SEMESTER OF B.COM-II SEMESTER END EXAMINATION ~ JUNE 2023 ELEMENTS OF INDIRECT TAXES (ACF 1401) Day & Date: Thursday, 08"* June 2023 Time: 200 a.m. to 11:00 a.m. Max. Marks: 70 Notes: 1. All the Questions are required to be answered in the single answer book, Question No.1 is compulsory. 3. Figures given on the right side indicate marks. 4. Use of Simple calculator is permitted. Section - | Marks Q:1 Answer the following questions in short (2.5 Marks each) 10 mY (a) Define the term ‘Taxable Person’ as per CGST Act. (b) Explain the meaning of ‘Aggregate Turnover’ ( What is a place of supply of services in case of “Lodging Accommodation” as per to section 12(3) of the IGST Act? (a) Define the term “Goods” as per section 2(22) of the Customs Act 1962? Oa {a) Consider the following cases pertaining to intra-State/inter-State supply (Assuming 12 rate 12 percent) — X of Vadodara (Gujarat) supplies goods to ¥ of Surat (Gujarat). The taxable value of the supply is Rs:10,00,000.-Y supplies the same goods after making value addition at the rate of 40 percent. The recipient of a supply is Z of Mumbai (Maharashtra). Z supplies the same goods after making value addition at the rate of 30 percent. The recipient of a supply is A of Pune (Maharashtra), who is the final consumer of goods. Compute net GST liability of X, ¥, and Z. Also compute revenue generated by Gujarat Government, Maharashtra Government, and Central Government. a (b) _Explain the term “Consideration” as per section 2(31) of the CGST Act 03 ‘oR a2 (a) Explain the Framework of GST in India. oS {b) Define the term “Goods” and “Service” as per the CGST Act 04 {c) Explain, with examples, the concept of ‘Composite Supply’ and ‘Mixed Supply’ 06 aa (a) ROUTE Ltd of Gujarat buys the motor from Landmark Ltd in Rajasthan, both agreed 10 for the below conditions. a tas Particulars Rs. Value of Motor (Excluding GST @ 10%) Z (600,000 [Taxes other than GST (Not included in above value) 4000 | Below items are being paid by recipient through supplier is lable to pay: Consultancy charges for installation “i 4,000 Loading Charges ae we 3,000pb. [Fesina corees SEC [rate es 30 Inspection Charges 4,000 Subsidy received from Rajasthan Government (Deducted from value) (~ 20,000 “Subsidy received from manufacturer for supply of power generator 50,000 (Deducted from the value) Trade discount shown in invoice shown in Invoice a 4,000 Cash discount due to instant payment y [11,000 if such supply is inter-state supply, Calculate the value of taxable supply. (Assuming you are working is inclusive of tax) (b) Determine the time of supply in the following cases assuming that GST is payable 05 under reverse charge: : Sr.No. | Date of payment by the recipient of services Date of Im Eig [E0027 ‘i ei oa aa 29.08.2022 ' 2 [40102022 Z : [01.08.2022 3 | Part-payment was made on 30.08.2022 & balance amount 29.08.2022 waspaidon 01.11.2022 ~ 9 4 _ | Payment is entered in the books of A/c on 28.08.2022 & 07.08.2022 debited in the recipient's bank account on 30.08.2022 ‘5 | Payment is entered in the books of A/c on 30.08.2022 & 29.08.2022 debited in the recipient's bank account on 26.08.2022 OR fA: 3 (a) Describe categories of persons required to get registered under section 22 of CGST 08 Act, 2017 {b) state specified rates for composition levy and list out persons not eligible for 07 [compos Hotes near CATON NY Explain the provision of the Place of Supply for goods as per section 10 of the CGST 15 Act, 2017 OR a > (a) _BPCL Ltd, registered under GST, is engaged in the manufacturing of heavy laser 08 machinery. It procured the following items during the month of August: Sr Particulars st No. 1_| Electrical transformers manufacturing process 7 130,000 2__| Trucks used for the transport of raw material _ 75,000 3_| Insurance policy premium of truck 7 ~ 10,000 4_| Raw material : 200,000 [5 | Confectionery items. These items were supplied free of cost to the 25,000 ‘customers in a customer meet organized by the company Determine the amount of ITC available to the BPCL Ltd., for the month of August by giving necessary explanations for the treatment of various items. Subject to the information given above, assume that all the other conditions necessary for availing of ITC have been fulfilled.fa) (b) ag (a) (b) (C) ‘Tata Chemical Ltd., registered under GST, is engaged in the manufacture of taxable goods. Compute the ITC available to the Tata Chemical Ltd. for the month of November from the following particulars: St] Inward | GST Remarks ] No. | Supplies 2 ‘| Input a 200,000 | One invoice on which GST payable was Rs, 20,000, is | missing | 2 [inputs 50,000 | Input is to be received in two instaiments. The first instalment has been received in November | 3° | Capital 60,000 | Tata Chemical Lid. has capitalized the capital goods at full | Goods invoice value inclusive of GST as it will avail depreciation con the full invoice value [4 [input | 125,000 | One invoice dated 20" January on which GST payable was, Services Rs, 10,000 has been received in November Notes: i, Subject to the information given above, assume that all the other conditions necessary for availing ITC have been fulfilled ji, The annual return for the previous financial year was filed on 15th September. Compute assessable value and custom duty from the following information: Particulars FOB Value of Machine | 4000 Pounds | Freight paid (Air) 11250 Pounds | Design and development charges paidin UK - 250 Pounds | Commission payable to local agents in Indian Rupees 2% on FOB Date of bill of entry [BCD Rate: 12%; CBIC Exchange Rate: Rs. 4-10-2022 Pound) | Date of entry inward [BCD Rate: 18%, CBIC Exchange Rate: Rs. 70 per UK| 20-10-2022 | Pound) io ae | 1GST Payable 18% | Find out the assessable value of the imported goods from the following information us$ | Cost of the machine at the factory of the exporting country a 5000 | ‘Transport charges incurred by the exporter from his factory to the port of | 250 | shipment | Handling charges paid for loading the machine on the ship 25 | Buying commission paid by the importer i 25 | Freight charges from exporting country to India a 1000 | Foreign Exchange Rate = oR Write a Short note on following: Basic Customs Duty Social Welfare Surcharge on imports Safeguard Duty 07 08, 07- 05 05 05o° Exam Seat No, THE MAHARAIA SAYAJIRAO UNIVERSITY OF BARODA FACULTY OF COMMERCE SECOND YEAR BACHELOR OF COMMERCE FOURTH SEMESTER END EXAMINATION — JUNE 2022 ELEMENTS OF INDIRECT TAXES (ACF 1401) "Day & Date: Thursday, 23" June 2022 3:00 a.m, to 10:30 a.m. Max Marks: 70 Notes: 1. There are Two Sections. SECTION- | - 40 Marks and SECTION-II-30 Marks. 2. Answers of Section-| to be written in the answer book and Section-II to be written in the ‘Question bookiet itself. 3. Duly written Section-II to be submitted to the invigilator at 9.00a.m 4. Figures given in the bracket on the right side indicate marks. SECTION -i Marks Q-1 Answer the following questions in short (2.5 Marks each) 10 (a) Define the term “Service” uncier the CGST Act,2017 (b) What is the “Time of Supply” fer the supply of goods under the forward charge mechanism. (©) Whatiis the “Piace of Supply"for goods, when supply involves the movement of goods? ¥ {d) "Define the term “Customs Water” under the Customs Act, 1962 Q-2 Mr. Paresh a manufacturer in Guierat has supplied goods valued at Rs.3,50,000 to Mr. Haresha 25 dealer in Gujarat. Mr. Haresh supplied the said goods to Mr. Gopal in Madhya Pradesh after making a value addition of 30%. \vir. Gopal further supplied the goods to Mr. Preet of Madhya Pradesh after making a value addition o! quired to determine the tax payable by Mr. Paresh, Mr. Harosh, and Mr. Gopai in respect of the said transactions assuming the rate of GST is 18%. Also determine the emount of revenue earned by the Central government, Gujarat Government and Madhyz Pradesn government. oR Q-2._ Explain following: fa) Features of inci axes 07 (b) Composite and Mix Suaply under the CGST Act, 2017 05 (c) Taxable Event Under ti: 03, ELEMENTS OF INDIRECT TAXas fa) (b) ). a3 @ (bo) ae Taxpayer “Kamlesh’ is a manufacturer having one unit - Al in UP & another unit-A2inMP.The 5. total turnover of two units in last FY was % 415 lacs (& 85 lacs + 8 30 lacs). Turnover of Unit Al & A2 in the first quarter of this FY was & 5 lacs & % 10 lacs respectively. Compute the amount payable under the composition levy by Taxpayer ‘Kamlesh’ for the first quarter. Taxpayer Mr. X is 2 ‘alon stylist, who has opted for a composition levy for services, havingone 5. branch ~ 8: Vasant Kunj, Delhi & another branch ~ 82 in Gurgaon, Haryana. A total turnover of two branches in last FY was ® 45 lacs (& 25 lacs + & 20 lacs). Turnover of branches B1 & B2 in the first quarter of current FY is = 5 lacs & ¥ 10 lacs respectively. Compute GST payable under composition levy u/s 10(24} by ‘Mr. X’ for the first quarter. Write a Brief Note on “Compulsory Registration” Under Section 24 of CGST Act,2017? 5 oR Explain the following in relation to the “Value of Supply” ms 1. Transaction Value 2. Inclusions i ‘alue of Supply Explain the “Time cf Supply of Service” under the forward charge Mechanism 5 i an tc ELEMENTS OF INDIRECT TAXES (ACF-1401) SECTION -I Page 2Somesten-4 “LA College exam Papen (2017-18) (b) 6? Exam Seat No.4 (7 H92 ‘THE MAHARAJA SAYAJIRAO UNIVERSITY OF BARODA ‘SECOND YEAR BACHELOR OF COMMERCE FOURTH SEMESTER END EXAMINATION ~ APRIL, 2018. ELEMENTS OF INDIRECT TAXES (UNDER CBCS) (ACF 1401) a.m, to 11:00 a.m. Max Marks: 70 Day & Date: Monday, 23" April, 2018. Notes: 1. Answers to both sections are to be written in separate answer books. 2. Section- | carries 40 Marks and Section Il carries 30 Marks. 3. Question No.1 is compulsory. 4, Use of simple calculator is permitted. SECTION -I Answer the following briefly. (2.5 Marks each) Define the term "Goods” under the CGST Act,2017. What is the time limit for issue of Invoice for supply of goods under the CGST Act, 2037 ? Explain the term “inter-state Supply” under the IGST Act, 2017. Define the term “Goods” under the Customs Act, 1962. Explain the Salient Features of Goods and Services Tax. Explain the need of Introduction of Goods and Services Tax in India. OR Mr-Paresh a manufacturer in Gujarat has supplied goods valued Rs.3,50,000 to Mr. Haresh a dealer in Gujarat. Mr. Haresh supplied the said goods to Mr. Gopal in Madhya Pradesh after making value addition of 30%. Mr. Gopal further supplied the goods to Mr. Preet of Madhya Pradesh after making value addition of 25%. You are required to determine the tax payable by Mr. Paresh, Mr. Haresh and Mr. Gopal in respect of the said transactions assuming the rate of GST is 18%, Also determine the amount of revenue earned by Central government, Gujarat Government and Madhya Pradesh government. Explain the difference between Direct taxes and Indirect taxes. nn Ti ELEMENTS OF INDIRECT TAXES (ACF-1401) Page 1 Marks 10 10 12ark Q-5 Explain the various types of duties levied under the Customs Law. OR Q:5 M/s Century Exim Limited has imported one machine from the UK. Compute the assessable value 15 and Customs duty payable by M/s Century Exim Limited based on following informatior ‘Sr.No. | Particulars | a FOB value of ma eg 16,000 UK Pounds 2. Air freight 5,000 UK Pounds 3. Design and development charges paidinUK 1000 UK Pounds | 4. | Commission payable to local agents @ 2% of FOB in Indian - | Rupees 5. | Date of Presentation of bill of entry (Rate of Basic customs 24.03.2018 | duty is 12% and Exchange rate notified by CBEC is Rs.68 per ~ | UK Pound) ao Date of entry inward (Rate of Basic customs duty is 18% and 20.03.2018 “ Exchange rate notified by CBEC is Rs.70 per UK Pound) = z IGST payable 18%, eae - % 8. Insurance charges actually paid but details not available. ELEMENTS OF INDIRECT TAXES (ACF-1401) Page 4Exam Seat No. ‘THE MAHARAIA SAYAJIRAO UNIVERSITY OF BARODA, 13% ae si S..8.COM FOURTH SEMESTER END EXAMINATION ~ April 16 ELEMENTS OF INDIRECT TAXES (CODE: ACF-1401) a Day & Date: Wednesday, 13 April 2016 Time: 8.00 a.m. to 11.00 a.m. Notes: 1. Use of pocket calculator allowed. 2, Write answer to both sections in separate answer books. 3, All questions are compulsory and show necessary workings to support your answers. ‘Maximum Marks: 70 SECTION -1 1. Answer the following questions: 10) A) Uist out various Indirect Taxes & thelr entry numbers mention in Union List and State List 8) How indirect taxes are inflationary in nature? C) What are the due dates of filling of half yearly return under the Service tax? ~ D) The selling price of the excisable product is Rs.2,34,000. It includes VAT @ 4% and Excise duty Bo» @ 12.50%. Find assessable value and Excise duty. q* ~~ 2. _¢ A) Explain types of Customs duty. {10} ~"_B) Assessable value of goods imported from USA is 25000 US $. Rate of basic customs duty i 10% Rate of excise duty on similar goods manufactured in India is 12.596. Exchange rate notified by Y The Central Board of Excise and Customs is Rs.42.70 per dollar. "Calculate total customs duty payable. [05] or 2, A) A material was imported by air at FOB price of 20000 US $. Freight paid was 3000 US $ and " insurance cost was 1200 US $. The exchange rate notified by the Central Board of Excise and Customs is Rs.45.86 per dollar. The banker realized the payment from importer at the exchange rate of Rs.48 Per dollar. Find the assessable value of the material for the purpose of levying duty. The basic custom duty is 10 % and excise duty on similar goods manufacture in India is 12.5%, Calculate total customs duty payable in india by Importer. {10} @&)Mhat are Inclusions in and exclusions from Transaction Value for customs duty? 05) ‘A) Explain MRP base valuation and Transaction Value under Central Excise. [19] 8) A manufacturer of Fan purchased a machine for Rs. 7,52,500 by paying 12.5% excise duty on 1" April 2014, Calculate the amount of depreciation at rate of 15 % p.a. as per Income Tax Act, 1961, for the year 2014-15, which can be claimed by the manufacture under section 32 if. a. he takes CENVAT credit of Central Excise Duty paid b. he does not take CENVAT credit of Central Excise Duty paid. [05] oR 3. Gvhen cenvar credit canbe taken? 05} B) M/s ABC Ltd, is a manufacturer of excisable goods; hired services and purchased goods. Details é areas under: Sr.No. | Particulars : ‘Amount (Rs) 1 Raw material purchased 25;00,000, 2 ‘New Plant and Machinery purchased 5,00,000 3 Broadband Internet Services 2,21,000 4 Transport services 1,15,000 [s Telephone Services 3,50,000 : 1 (P-r0-)4 Above values stated are net, on which respective taxes are paid by M/s ABC Ltd. Finished goods manufactured by M/s ABC Ltd of Rs. 32,00,000 are removed. Rate of Excise duty is 12.5% and Service Tax is 14.5% (Inclusive of Swachh Bharat Cess). Calculate excise duty payable on removal of finished goods after utilisation of CENVAT credit remains unutilised which can be carried forward to next month? SECTION It if any. Is there any CENVAT Credit [10] A) M/s Shree Sai Enterprise at Vadodara, a registered dealer under The Gujarat Value Added Tax Act 2003, whose transactions are as follows:_(All suppliers are registered dealers) Particulars Amount Particulars “Amount = (Rs) = (Rs) Purchase goods from Halol_ «1 20,00,000 | Sale of goods in Mumbai_~ +10,00,000 Purchase goods from Navsariic | 10,00,000 | Sale of goods in Ahmedabad | 20,00,000 Purchase goods from Surat_(i~ | 16,00,000 | Sale of goods in Vadodara. — | 15,00,000 Sale of goods in Pune Maharashtra | "2,00,000 | Sale of goods to Unit in SEZ at Dahe] {2 5,00,000 ‘Above amounts are excluding taxes. The GVAT rate is 12.5 % and additional VAT is 2.5 %, CST rate is, 236. Compute tax payable by Shree Sai Enterprise. 'B) Compare Sales Tax and Value added tax. ‘A) Write a short note on salient features of Value Added Tax. (5 B) Explain i) oR input tax credit on Capital Goods, ye Conditions to claim tax credit Input Tax credit is not admissible. ‘A) List out activities eliminated from definition of service, a2] [03] [09] [08] B) M/s Shree Enterprise (Proprietorship) provides taxable service for the value of Rs.15, 85,000 for quarter ended on 30 June 2015 and paid service tax on 20" August, 2015. Find out the amount of service tax, interest and penalty if any? When service tax return will be submitted by Shree enterprise A) Write short notes on oR i) ii) Small service provider. itl) CENVAT credit scheme (07) istration under Service Tax a2} B) M/s Shree Associates, partnership firm engage in providing taxable services since April 2014. In the year 2014-15, services provided for the value of Rs. 8, 50,000. In the year 2015-16, ser provided for the value 18, 50,000. Calculate amount of service tax payable by M/s Shree Associates. And service tax actually paid by M/s Shree Associates for 2015-16. [03] > fy