SIXTH SEMESTER UNIVERSITY EXAMINATION, APRIL - 2025
BUSINESS TAX
Reg. No.|
| Time: 03 HOURS
SIXTH 2;
SEMESTER UNIVERSITY EXAMINATION, APRIL - 20252. °""3 Lae
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BUSINESS TAX
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SECTION - A |
ia.) An nett |
| Swer any FOUR of the following questions. | |
| 2.) Explain the salient features of GST. SSS , : '
| bet |
Pwo be |
Determine the time of supply of services in
independent cases in accordance with provisions of CGST act, 2017
each of following |
H | and state the provisions for determining the time as laid down by the
é act.
| | i Cases Date of actual Date of Date of payment
| provision of Invoice :
i service |
{ | 10-11-2022 30-11-2022 | 06112022 (part) and
| 16-11-2022(remaining)
H¥t
2 | 10-11-2022 12-12-2022 | 30-03-2022
3} 10-11-2022 12-12-2022 | 05-11-2022 (part) and /
25-12-2022
i (remaining) i
a4 10-11-2022 22-12-2022) U2-2-2020) |
A transport agency registered in the state of Karnataka provided the \
j following services in the month of July 2022. Compute the amount of
GST payable for the month July 2022.
Transport of passenger by air condition contract or stage
carriage the rate of GST is 5% 63,000
Transport of passenger by radio taxi @ 5% GST applicable
20,000
Transport by passenger by air in economy class @ 5% GST1
20,000
Transport of passenger by air in other than economy class @
12% 60,000
Service provided to a foreign tourist in relation to a tour
conducted wholly outside India which is exempt from GST
3,00,000
C Ltd imported goods from U.S.A at Mumbai port at cost
,50,000$ the other information are as follows: -
Sea freight charges: - 8,000$
Page 1 of 4
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Sale of goods purchased from
Material C to SEZ in Bangalore
Taw
Materi i
| | jal B to registered dealer in
| | Belgavj
|i|
i] Me Sale. of
goods Ss
| Purchased from raw
Compute the amount of G
GST payable, Assuming the pure
Sales figures Given above excludes GST
hases and |
| Foreign Trade International Ltd, has imported one mac
| ine from |
| | England. It has giventhe following Particulars:
| ‘ Price of machine 10,500 UK Pounds
i i th Freight paid (air) 3,500 UK Pounds
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ili. Design and development charges paid in UK 500 UK Pounds
iv. Commission payable to local agent of exporter @ 2% of price |
of machine, in IndianRupees |
v. Date of bill of entry 24.10.2022 (Rate of BCD 10%; Exchange |
Tate as notified by CBIC Rs. 105 per UK Pound) i
vi. Date of arrival of aircraft 20.10.2022 (Rate of BCD20%;
| Exchange rate as notified byCBIC Rs. 101 per UK Pound) i
i | vii. Integrated tax leviable under section 3(7) of the Customs Tariff i
a | Act, 1975 is 12% i
| ae |
Insurance charges have been actually paid but details are not |
available.
Compute the total customs duty and integrated tax payable by
Foreign TradeInternational Ltd.
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SECTION — C
|
Answer the following question.
|
|
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14
Mr. Prakash a dealer submits the following information in relation to | ps i 2 |
’|i|
Manufacture and selling of drilling machine. Compute the net GST | | | |
bility from the following information |
7" |
ulars Rs.
|
of raw-materials (excluding 10% of BCD on import | 1,20,000
'% of IGST) if
jaterials purchased from Karnataka (including CGST 1,40,800 >
fa and SGST at 14%)
aterials purchased from Goa including IGST at 5% 31,500
dy received from an NGO which was directly related to 6,500
rice of the goods
enalty levied by Mr. Arun for delayed payment : 287.5
Subsidy received from central government which was 17,000
| directly linked to the price of the product
Additional incentives paid to the employee of sales 2,500
department bi
| Manufacturing expenses aes: Pa Gout i a
Service received from a registered dealer to man ‘
machinery — [aint Ma on a
Page 3 of 4
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