GST Full Length QP
GST Full Length QP
2. Can a registered person opting for composition scheme collect GST on his outward
supplies?
(a) Yes, in all cases
(b) Yes, only on such goods as may be notified by the Central Government.
(c) Yes, only on such services as may be notified by the Central Government.
(d) No
5. In case of Goods Transport Agency (GTA) services, tax is to be paid under forward
charge if:
6.
7.
8.
9.
10.
1. State with brief reason, whether following suppliers of taxable goods are required
to register under the CST Law:
(I) Mr. Raghav is engaged in wholesale cum retail trading of medicines in the State
of Assam. His aggregate tumover during the financial year is Rs. 9,00,000 which
consists of Rs. 8,00,000 as Intra-State supply and Rs. 1,00,000 as Inter state supply.
(II) Mr S.N Gupta of Rajasthan is engaged in trading of taxable goods on his own
account and also acting as an agent of Mr. Rishi of Delhi. His turnover in the financial
year 2017-18 is of Rs. 12 lakhs on his own account and Rs. 9 lakhs onbehalf of
principal. Both turnovers are Intra-State supply. 5 Marks
3. M/s Software Limited reduced the amount of Rs. 2,00,000 from the output tax
liabilityin contravention of provisions of section 42(10) of the CGST Act, 2017 (ie.
Under or excess claim of ITC) in the month of December 2017, which is ineligible
credit. A showcause notice was issued by the Tax Department to pay tax along with
interest. M/s Software Limited paid the tax and interest on 31 st March, 2018.
Calculate interest liability (Ignore penalty) (5M)
for a period of 101 days and interest liability will be Rs. 13.282 (approx.).]
Q 4. (5M)
(A) State whether the provisions pertaining to tax collected at source under
section 52 of CGST Act, will be applicable, if Fitan Ltd. sells watch on its own
through its ownwebsite?
(B) State whether the provisions pertaining to tax collected at source under section
52 of CGST Act, will be applicable, if ABC limited who is dealer of Royul brand sells
watches through Slipkart, an electronic commerce operator?
1. XYZ & Co., a firm of Chartered Accountants, issued invoice for servicesrendered
to Mr. A on 7th September. Determine the time of supply in the following independent cases:
(1) The provision of service was completed on 1st August and payment was received
on 28th September.
(2) The provision of service was completed on 14th August and payment was received
on 28th September.
(3) Mr. A made the payment on 3rd August. However, provision of service was
remaining to be completed at that time.
(4) Mr. A made the payment on 15th September. However, provision ofservice was
remaining to be completed at that time. (5m)
2. Following are the particulars, relating to one of the machine sold by SQM ltd. To
ACDLtd. In the month of February 2020 at list price of Rs. 9.50.000 (exclusive
of taxes and discount) further, following additional amounts have been charged
from ACD Ltd: (5m)
Determine the amount of ITC available to Jamku Ltd. For the month October,
2018with all related workings and explanation.
All the conditions necessary for availing the ITC have been fulfilled.
[5 Marks]