In whose hands the above income and loss shall be

In whose hands the above income and loss shall be included in Assessment Year 2019-20.
(3 Marks)
(c) Mr. Sameer, aged 52 years, provides you the following information and requests you to
determine his advance tax liability with due dates for the financial year 2018-19.
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Estimated tax liability for the financial year 2018-19 Rs.80,000
Tax deducted at source for this year Rs.12,000
Would your answer change if, Mr. Sameer is eligible for and has opted for presumptive tax
provisions under section 44AD and his tax liability is entirely on account of such income (ignore
TDS)? (4 Marks)
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Test Series: March, 2019
SECTION B - INDIRECT TAXES (40 MARKS)
QUESTIONS
(i) Working Notes should form part of the answers. However, in answers to Question in Division A, working
notes are not required.
(ii) Wherever necessary, suitable assumptions may be made by the candidates, and disclosed by way of note.
(iii) All questions should be answered on the basis of the position of GST law as amended up to 31
st
October,
2018.
(iv) The GST rates for goods and services mentioned in various questions are hypothetical and may not
necessarily be the actual rates leviable on those goods and services. Further, GST compensation cess
should be ignored in all the questions, wherever applicable.
Division A - Multiple Choice Questions
Write the most appropriate answer to each of the following multiple choice questions by choosing
one of the four options given. All questions are compulsory.
Total Marks: 12 Marks
Question Nos. 1 and 2 carries 2 Marks each
1. Rama Ltd. has provided following information for the month of September:
(i) Intra-State outward supply Rs. 8,00,000/-
(ii) Inter-State exempt outward supply Rs. 5,00,000/-
(iii) Turnover of exported goods Rs. 10,00,000/-
(iv) Payment made for availing GTA services Rs. 80,000/-
Calculate the aggregate turnover of Rama Ltd.
(a) Rs. 8,00,000/-
(b) Rs. 23,80,000/-
(c) Rs. 23,00,000/-
(d) Rs. 18,00,000/-
2. Which of the following services received without consideration amount to supply?
(1) Import of services by a person in India from his son well-settled in USA
(2) Import of services by a person in India from his brother well-settled in Germany
(3) Import of services by a person in India from his brother (wholly dependent on such person in
India) in France
(4) Import of services by a person in India from his daughter (wholly dependent on such person in
India) in Russia
(a) 1), 3) and 4)
(b) 2), 3) and 4)
(c) 2) and 3)
(d) 1) and 2) (2 x 2 Marks = 4 Marks)
Question Nos. 3 to 10 are of 1 mark each.
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3. Services by way of admission to ______________ are exempt from GST.
(a) Museum
(b) National park
(c) Tiger reserve
(d) All of the above
4. A supplier takes deduction of depreciation on the GST component of the cost of capital goods as per
Income- tax Act, 1961. The supplier can-
(a) avail only 50% of the said tax component as ITC
(b) not avail ITC on the said tax component
(c) avail 100% ITC of the said tax component
(d) avail only 25% of the said tax component as ITC
5. Which of the following persons is not eligible for composition scheme even though their aggregate
turnover does not exceed Rs. 1 crore in preceding FY, in Uttar Pradesh?