DIRECT & INDIRECT TAX SUGGESTION

1. (a) Mention any two objectives of GST.

(b) Mention any three taxes that are not subsumed or merged with GST. (2+3)
Or,
Define the following as per Central Goods and Service Tax Act:
(a) Aggregate Turnover
(b) Input tax and Output tax. (3+2)

2. (a) What is Mixed supply?

(b) From the following information, determine the time of supply of goods:
Date of removal of goods: 23.03.2021
Date of issue of invoice: 20.03.2021
Date of payment entered in the books of accounts: 28.03.2021
Date of credit in Bank Accounts: 31.03.2021 (3+2)

3. Mention the components that are included in the value of supply of good. (5)
Or,
Write short notes on: (2 ½ + 2 ½)
(a) Supply
(b) Composite supply.

4. What do you mean by 'Forward Charge' and 'Reverse Charge'? Discuss with examples. (5)

5. Distinguish between Direct Tax and Indirect Tax. (5)

Or,
What are the objectives of GST? (5)

6. (a) What is a taxable event in GST?

(b) Write a short note on mixed supply and its taxability. (2+3)

7. Write short note on reverse charge under GST. (5)

Or,
State the provisions relating to Time of supply' of goods in case of forward charge and
calculate time of supply from the information given below: (2+3)
Barun, a registered person, supplied certain goods to Tarun. Following are the details
available for a transaction:
Date of removal of goods 15.03.2021
Date of issue of invoice 18.03.2021
Date of payment entered in the books of accounts 25.03.2021
Date of credit in bank account 28.03.2021

8. (a) Mention any two features of G.S.T.

(b) Mention any three taxes that are subsumed in GST.
(c) Define as per Central Goods and Service Tax Act:
(i) Goods
(ii) Services. 2 + 3 + (2 + 3)

9. (a) What is the ‘taxable event’ under the GST?

(b) Who is a ‘Taxable Person’ under GST?
(c) Mention two indirect taxes not subsumed in GST.
(d) Explain the concept of composite supply. 2+3+2+3

10. (a) Write short notes on Supply as per CGST Act.

(b) What is reverse charge?
(c) What do you mean by mixed supply? 5+2+3

11. (a) State the provisions in respect of time of supply of goods under forward charges.
(b) Mention any two cases where a person is not eligible to opt for composition scheme.8+2

12. (a) Define ‘Goods’ according to Customs Act.

(b) Mention any two duties as provided in the Customs Act.
(c) What do you mean by ‘Territorial Waters’? 5+2+3

13. (a) Mention five indirect taxes which have been subsumed in GST.
(b) Write short notes on:
(i) Taxable person
(ii) Turnover in State and Union territory. 5+(2+3)

14. (a) What do you mean by Composition Scheme?

(b) Who can opt for Composition Scheme?
(c) State the items to be included in the value of supply of goods under transaction value.
3+2+5
15. (a) What is exempt supply? How it differs from zero rated supply?
(b) Explain the meaning of ‘Taxable supply’ and ‘Non-taxable supply’. (2 + 4) + (2 + 2)