Theory questions for practice on Income tax

1. Section 80C of Income Tax Act, 1956.

2. Different types of assesses
3. Presumptive taxation
4. Audit of Accounts
5. TDS provisions under Income Tax Act, 1956. (any 5)
6. Elaborate the concept of Net Annual Value of House Property.
7. Short note on Deduction for Donations
8. Explain maintenance of accounts and audit of accounts concepts under Income Tax Act, 1956
9. Elaborate Deduction for medical insurance premium
10. Short note on Unabsorbed Depreciation

Theory questions for practice on GST

1. Explain silent features of Indirect taxes.

2. Distinguish between Direct and Indirect taxes

3. Composite and mixed supply under GST

4. “GST is payable on advance received for supply of Goods and services taxable under forward
charge.” Do you agree with the statement? Support your answer with legal provisions

5. Inter and Intra state Supply

6. “Consideration under GST includes both monetary and non monetary consideration” Discuss
the statement with reference to definition of Consideration under GST

7. Transaction value?

8. Composite and Mixed Supply

9. What do you mean by the Input Tax? What are the conditions necessary for availing ITC?

10. Discuss the deficiencies in the existing indirect taxes which led to the need for ushering into
GST regime.

11. Explain significance of time of supply under GST law

12. List the central and state levies which have been subsumed in GST in India

13. Sadik Trading Company, a registered supplier, is liable to pay GST under forward charge. It has
furnished the following information:
i. Goods were supplied on 3rd October
ii. Invoice was issued on 5th October
iii. Payment received on 9h October
Determine the time of supply of goods for the purpose of payment of tax.
14. Simaran Associates is engaged in supply of taxable goods. lt enquires from its tax advisor as to
whether any activity can be treated as supply even if made without consideration in
accordance with the provisions. You are required to enumerate such activities, if any

15. Determine whether the following supplies amount to composite supplies:

i. A hotel provides 3 days-2 nights package wherein the facility of breakfast and dinner is
provided along with the room accommodation.
ii. A toothpaste company has offered the scheme of free soap alongwith the toothpaste.

16. A taxable person is in the business of information technology. He buys a car (maximum seating
capacity - 5 persons) for use of his Executive Directors. Can he avail the ITC in respect of GST
paid on purchase of such car?

17. Shivam Private Ltd., registered in Delhi, has transferred some goods to its branch, registered in
West Bengal, so that the goods can be sold from the branch. The goods have been transferred
without any consideration. The company believes that the transaction undertaken by it does
not qualify as supply as no consideration is involved. Ascertain whether the transfer of goods
by Damodar Private Ltd. to its branch office qualifies as supply.

18. A person availing composition scheme, under sub-sections (1) & (2) of section 10, in Haryana
during a financial year crosses the turnover of Rs.1.5 crore in the month of December. Will he
be allowed to pay tax under composition scheme for the remainder of the year, i.e. till 31st
March? Please advise.

19. An order is placed on Rana Co. on 18th August for supply of a consignment of customized
shoes. Rana Co. gets the consignment ready and informs the customer and issues the invoice
on 2nd December. The customer collects the consignment from the premises of Rana Co. on
December and electronically transfers the payment on the same date, which is entered in the
accounts on the next day, 8" December.
What is the time of supply of the shoes for the purpose of payment of tax?

20. Megha Co. wishes to commence the business of supplying ready-made garments within Punjab
and in the neighboring States of Delhi and Haryana. Kindly state as to what is the taxable event
under GST and leviability of CGST, SGST/UTGST and IGST on the same?

21. Meal coupons are sold to a company on 9n August for being distributed to the employees of
the said company. The coupons are valid for six months and can be used against purchase of
food items. The employees use them in various stores for purchases of various edible items on
different dates throughout the six months. What is the date of supply of the coupons?

22. Can a person take ITC without payment of consideration for the supply along with tax? And
What is the time limit for taking ITC and reasons there for?