QG1(i)Composite vs mixed supply - applicable GST rate
2 marks hard
Case: Ms. Riya is a multi-faceted business personality. She is registered under GST from April, 20XX. She supplied a package consisting of stapler, calculator and charger at a single price of Rs.300. Rate of GST for stapler, calculator and charger is 5%, 12% and 18% respectively. She wants to opt for composition levy. She received following payments during the month of May, 20XX: earned Rs.1,60,000 by performing in western music in a cultural event at a Resort; earned Rs.50,000 by providing services by way of renting of residential dwelling for use as boutique; received Rs.70,000 by way of rent for …
What would be the nature of supply and the applicable rate of GST for the supply of package made by Ms. Riya (when not registered under composition scheme)?
(A) composite supply & applicable rate 12%
(B) mixed supply & applicable rate 18%
(C) composite supply & applicable rate 18%
(D) mixed supply & applicable rate 12%
QG1(ii)Composition scheme - ineligible goods
2 marks hard
Case: Ms. Riya is a multi-faceted business personality. She is registered under GST from April, 20XX. She supplied a package consisting of stapler, calculator and charger at a single price of Rs.300. Rate of GST for stapler, calculator and charger is 5%, 12% and 18% respectively. She wants to opt for composition levy. She received following payments during the month of May, 20XX: earned Rs.1,60,000 by performing in western music in a cultural event at a Resort; earned Rs.50,000 by providing services by way of renting of residential dwelling for use as boutique; received Rs.70,000 by way of rent for …
Ms. Riya can opt for composition scheme if she does not undertake the supply of:
(i) Aerated water
(ii) Tobacco
(iii) Pan masala
(iv) Milk
(A) i & ii
(B) iii & iv
(C) i, ii & iii
(D) ii, iii & iv
QG1(iii)Exempt supply under GST
2 marks hard
Case: Ms. Riya is a multi-faceted business personality. She is registered under GST from April, 20XX. She supplied a package consisting of stapler, calculator and charger at a single price of Rs.300. Rate of GST for stapler, calculator and charger is 5%, 12% and 18% respectively. She wants to opt for composition levy. She received following payments during the month of May, 20XX: earned Rs.1,60,000 by performing in western music in a cultural event at a Resort; earned Rs.50,000 by providing services by way of renting of residential dwelling for use as boutique; received Rs.70,000 by way of rent for …
Out of payments received by Ms. Riya in month of May 20XX, exempt supply amounts to _____
(A) Rs.50,000
(B) Rs.70,000
(C) Rs.1,20,000
(D) Rs.1,60,000
QG1(iv)Value of supply under Section 15 CGST Act - TCS and subsidy
2 marks hard
Case: Ms. Riya is a multi-faceted business personality. She is registered under GST from April, 20XX. She supplied a package consisting of stapler, calculator and charger at a single price of Rs.300. Rate of GST for stapler, calculator and charger is 5%, 12% and 18% respectively. She wants to opt for composition levy. She received following payments during the month of May, 20XX: earned Rs.1,60,000 by performing in western music in a cultural event at a Resort; earned Rs.50,000 by providing services by way of renting of residential dwelling for use as boutique; received Rs.70,000 by way of rent for …
In respect of supply made by Ms. Riya, the value of supply under section 15 of CGST Act, 2017 is
(A) Rs.45,000
(B) Rs.47,500
(C) Rs.48,500
(D) Rs.51,000
QG1(v)Input tax credit eligibility - blocked credits under Section
2 marks hard
Case: Ms. Riya is a multi-faceted business personality. She is registered under GST from April, 20XX. She supplied a package consisting of stapler, calculator and charger at a single price of Rs.300. Rate of GST for stapler, calculator and charger is 5%, 12% and 18% respectively. She wants to opt for composition levy. She received following payments during the month of May, 20XX: earned Rs.1,60,000 by performing in western music in a cultural event at a Resort; earned Rs.50,000 by providing services by way of renting of residential dwelling for use as boutique; received Rs.70,000 by way of rent for …
Eligible amount of input tax credit that can be claimed by Ms. Riya in the month of July 20XX is
(A) Rs.30,000
(B) Rs.37,000
(C) Rs.1,50,000
(D) Rs.1,57,000
QG2GST applicability - alcoholic liquor excluded from GST
1 marks easy
Alcoholic liquor for human consumption is subjected to
(A) State excise duty
(B) Central Sales Tax/Value Added Tax
(C) Both a and b
(D) GST
QG3Taxes subsumed under GST
1 marks easy
Taxes subsumed in GST are
(A) Service tax
(B) Luxury tax
(C) VAT
(D) All of the Above
QGB-1GST computation - ITC utilization order, inter-state and int
8 marks hard
Mr. Charlie, a registered supplier of goods at Bhatinda who pays GST under regular scheme, has made the following transactions (exclusive of tax) during April 20XX:
Source: Rajasthan | Purchases: Rs.5,00,000 | Sales: Rs.10,00,000 | Tax Rate: 18%
Source: Punjab | Purchases: Rs.2,50,000 | Sales: Rs.8,00,000 | Tax Rate: 9% each for SGST & CGST
Total Purchases: Rs.7,50,000 | Total Sales: Rs.18,00,000
Opening ITC balance on 01-04-20XX: CGST Rs.50,000; SGST Rs.30,000; IGST Rs.1,00,000
He has complied with all the conditions for availing the input tax credit (ITC). Compute the minimum net CGST, SGST and IGST payable by Mr. Charlie during April 20XX in cash.
QGB-2(a)Value of taxable supply under Section 15 CGST Act - inclusio
4 marks medium
Kaashi Ltd. supplies machinery to Alisha Ltd. (dealer in same State). Determine the value of taxable supply of machinery based on the following particulars:
(i) Price of Machinery (exclusive of taxes and discounts): Rs.5,50,000
(ii) One part is directly fitted in machinery at place of Alisha Ltd. Amount of Rs.20,000 paid by Alisha Ltd. directly to supplier; as per contract this amount should be paid by Kaashi Ltd. and is not included in the price.
(iii) Installation and testing charges for machinery, not included in price: Rs.25,000
(iv) Discount @ 2% on machinery price (recorded in the invoice)
(v) Kaashi Ltd. provides additional 1% discount at year end, based on additional purchase of other machinery. This discount is not linked to the relevant invoice and proportionate ITC has not been reversed by Alisha Ltd.
QGB-2(b)(i)GST exemption - catering services to educational institution
0 marks easy
"Richmondkidz" is a Play School located in Delhi. Richmond Kids has outsourced the catering services for supply of food and drink in the canteen of the Play School to Ashoka Caterers, Delhi for a consideration of Rs.8,00,000 per annum. Examine whether supply of food and drink/catering services from Ashoka Caterers to "Richmondkidz" is exempt from GST.
QGB-2(b)(ii)GST exemption - food services in hospital canteen to in-pati
0 marks easy
Balaji Hospital, a clinical establishment located in Tirupati, is specialised in cardiac treatment. The hospital has its own canteen – Healthy Foods. The canteen serves food and drink to the in-patients as advised by the doctors/nutritionists of the hospital. Apart from this, other patients (who are not admitted) or attendants or visitors of the in-patients also take food and drink from the canteen. Examine whether supply of food and drink/catering services to the in-patients and to other patients (who are not admitted) or attendants or visitors of the in-patients is exempt from GST.
QGB-3(a)Effective date of GST registration - late vs timely applicat
6 marks medium
Determine the effective date of registration in the following cases:
QGB-3(b)Interest on delayed payment of GST - Section 50 CGST Act
4 marks medium
Mr. Aman, a registered supplier of taxable goods, filed GSTR 3B for the month of January, 20XX on 15th April, 20XX. The prescribed due date to file the said GSTR 3B was 20th February, 20XX. The amount of net GST payable on supplies made by him for the said month worked out to be Rs.36,500 which was paid on the same date of filing the return. Briefly explain the related provisions and compute the amount of interest payable under the CGST Act, 2017 by Mr. Aman.
QGB-4(a)Tolerating non-performance of contract - deemed supply under
5 marks medium
Explain the services provided by way of tolerating non-performance of a contract and its chargeability under the provisions of the CGST Act, 2017.
QGB-4(b)Revision of GST returns - amendment provisions
5 marks medium
If a return has been filed, how can it be revised if some changes are required to be made?
QIB-3(i)Salary income computation - perquisite valuation
7 marks hard
Mr. Neeraj, aged 45 years, working in Ashiyana Pvt. Ltd. provides the following details pertaining to the financial year 2019-20:
Basic salary: Rs.7,20,000
Dearness allowance: 40% of basic pay (50% of D.A. forms part of retirement benefits)
Commission: Rs.50,000
Entertainment allowance: Rs.7,500
Medical expenses reimbursed by the employer: Rs.10,000
Profession tax (of this, 50% paid by employer): Rs.3,000
Health insurance premium paid by employer: Rs.9,000
Gift voucher given by employer on his birthday: Rs.15,000
Life insurance premium of Neeraj paid by employer: Rs.40,000
Laptop provided for use at home. Actual cost of Laptop to employer: Rs.45,000 [Children of the assessee are also using the Laptop at home]
Employer company owns a motor car, which was provided to the assessee, both for official and personal use. All repair and maintenance expenses are fully reimbursed by the employer. No driver was provided. (Engine cubic capacity less than 1.6 litres).
Annual credit card fees paid by employer [Credit card is not exclusively used for official purposes]: Rs.5,000
You are required to compute the income chargeable under the head Salaries in the hands of Mr. Neeraj for the assessment year 2020-21.
QIB-3(ii)Section 50C and Section 56(2)(x) - stamp duty value vs consi
7 marks hard
Mr. Ramesh sold a house plot to Mrs. Vikas for Rs.45 lakhs on 10-9-2019. The valuation determined by the stamp valuation authority was Rs.53 lakhs. Mr. Vikas has sold this plot to Ms. Babli on 21-3-2020 for Rs.55 lakhs. The valuation as per stamp valuation authority was Rs.54 lakhs on 21-3-2020. Discuss the tax consequences of the above in the hands of each one of them, viz. Mr. Ramesh and Mr. Vikas, and compute the capital gain in the hands of Mr. Vikas. Note: None of the parties viz Mr. Ramesh, Mr. Vikas and Ms. Babli are related to each other; the transactions are between outsiders.
QIB-4(i)Gross total income - set-off and carry forward of losses
6 marks medium
Mr. Mustafa submits the following information for the previous year 2019-20:
(i) Income from salary: Rs.6,50,000
(ii) Income from House-I: Rs.55,000
(iii) Loss from House-II (self-occupied property): Rs.1,25,000
(iv) Loss from House-III: Rs.1,90,000
(v) Loss from leather business: Rs.68,000
(vi) Profit from cloth business: Rs.1,70,000
(vii) Short term capital loss in equity oriented funds on which STT was paid: Rs.35,000
(viii) Income from crossword puzzles: Rs.12,000
(ix) Dividend from foreign company: Rs.8,500
(x) Loss on owning and maintenance of race horses: Rs.7,500
(xi) Income from owning and maintenance of race bulls: Rs.9,000
Compute the gross total income and losses to be carried forward of Mr. Mustafa for assessment year 2020-21. Mr. Mustafa has filed his return of income on 25.07.2020.
QIB-4(ii)Clubbing of income - cross gifts between relatives
4 marks medium
Mr. Vijay gifted a sum of Rs.4 lakhs to his brother's wife on 19-6-2019. On 21-7-2019, his brother gifted a sum of Rs.3 lakhs to Mr. Vijay's wife. The gifted amounts were invested as fixed deposits in banks by Mrs. Vijay and wife of Mr. Vijay's brother on 01-8-2019 at 9% interest. Examine the consequences of the above under the provisions of the Income-tax Act, 1961 in the hands of Mr. Vijay and his brother.
QIB-4(iii)Section 139AA - mandatory quoting of Aadhaar number
4 marks medium
Briefly mention the provisions of Income-tax Act, 1961 with regard to quoting Aadhar Number under section 139AA of the Act.