Bangalore University

B. Com, Fifth Semester Examination – MODEL PAPER

Goods and Service Tax

Time: 3 Hours Max. Marks: 70

Section-A

Note: Answer any Five sub-questions from the following. Each sub-question carries 2 marks. (5×2=10)
Ques 1 a) Give the rate of taxes under GST.

Ques 1 b) State the benefits of SGST Act in Karnataka state.

Ques 1 c) Mention the GST Renting Services Rate.

Ques 1 d) What do you mean by Mixed supply?

Ques 1 e) Give the type of assessment to be followed for the following situations:
1) An officer examines Form GSTR-3 filed by a registered person and has doubts regarding the
transaction value and tax levied in certain transactions.
2) A regular dealer does not furnish Form GSTR-9 for a financial year, even after receiving a notice
from the Tax department.

Ques 1 f) Do Input Service Distributors (ISD) need to file separate statement of outward and inward
supplies with their return?

Ques 1 g) Give the vision of GST Network.

Section-B

Note: Answer any Three of the following, each question carries 6 marks. (3×6=18)

Ques 2) Describe the various objectives of GST.

Ques 3) Discuss the five definitions under the GST Act.

i) Capital goods
ii) Agent
iii) Manufacture
iv) Person
v) Goods

Ques 4) Discuss the persons liable for Registration.

Ques 5) Shri Shiva imported goods for `10,000/- and incurred expenses to produce final saleable goods.
BCD @ 10 % was chargeable on imported goods. These manufactured goods were sold within the state at
`45,000 plus applicable GST. Rate of CGST and SGST is 5% and 7% respectively.
Compute Cost, Sale value and tax payable for the transaction.

Ques 6) Explain the requirement for the member of GSP.

Section-C

Note: Answer any Three of the following, each question carries 14 marks. (3×14=42)
Ques 7 A) Describe the subsuming of taxes.

Ques 7 B) Describe the advantages for implementations of GST.

Ques 8 A) Explain the meaning of work contract, exempt supply, input service distributor, manufacture,
casual taxable person, input tax, consideration, input and input service.

Ques 8 B) Discuss the provisions covered under import of service.

Ques 9 A) What are the rules to be followed for place of supply of goods?

Ques 9 B) Samir, a registered dealer had input tax credit for CGST and SGST `750 and `1,050
respectively in respect of purchase of inputs and capital goods. Samir manufactured 2000 litres of
finished products. The final product was sold at uniform price of `10 per litre as follows:

Goods sold within State – 800 litres

Finished product sold in inter-State sale – 750 litres
Goods sent on stock transfer to consignment agents outside the State - 450 litres

Further, CGST and SGST rate on the finished product of dealer is 5% and 7% respectively. Further
IGST rate is 12%. Calculate tax liability of SGST and CGST to be paid after tax credit. (rate are
assumed)

Ques 10 A) What do you understand by assessment? Explain the various classification of assessment.

Ques 10 B) Shri Shiva imported goods for `10,000/- and incurred expenses to produce final saleable
goods. BCD @ 10 % was chargeable on imported goods. These manufactured goods were sold within the
state at `45,000 plus applicable GST. Rate of CGST and SGST is 5% and 7% respectively. Now suppose
the same good is exported after 1 year of use after adding margin and modification amounting `10,000/-
and use factor of 1 year for refund calculation is 0.20. Therefore the refund will be 0.80 of Duty
amount. Compute Export Value and Refund Value.

Ques 11 A) Explain the organizational structure of GST Network.

Ques 11 B) Discuss the recommended guidelines of GSP to integrate with the GST System.
 Bangalore University
B. Com -Fifth Semester Examination – MODEL PAPER
Goods and Service Tax

Time: 3 Hours Max. Marks: 70

Section-A

Note: Answer any Five sub-questions from the following. Each sub-question carries 2 marks. (5×2=10)
Ques 1 a) Can composition scheme be availed of by a manufacturer and a service supplier?

Ques 1 b) What do you mean by place of supply?

Ques 1 c) Classify the goods based on exempted/non exempted.

1) Chalk stick
2) Chicken products.
3) Pan Masala
4) Cigarettes.

Ques 1 d) What do you mean by Tax Invoice?

Ques 1 e) Are there separate valuation provisions for CGST, SGST and IGST and for Goods and
Services?

Ques 1 f) What are the adjustment of IGST’s input tax credit done under GST?

Ques 1 g) Give the type of assessment to be followed for the following situations:
3) A registered regular dealer must furnish Form GSTR-3 on a monthly basis and Form GSTR-9
annually.
4) A registered person manufactures a new product for which the HSN code and tax rate are not
available.

Section-B

Note: Answer any Three of the following, each question carries 6 marks. (3×6=18)

Ques 2) How was GST introduced in India?

Ques 3) What is CGST Act? Discuss its features and benefits.

Ques 4) Mr. A manufactures goods. He bought goods for `56,000 (including GST paid @12%) and
incurred expenses of `74,000. These manufactured goods were sold for `1,45,000 plus applicable GST.
Rate of SGST and CGST is 7% and 5% respectively. Compute output GST and GST payable.
Ques 5) Discuss the furnishing details of inward supplies.

Ques 6) Explain the power and functions of GST Network.

Section-C

Note: Answer any Three of the following, each question carries 14 marks. (3×14=42)
Ques 7 A) Explain the salient features of GST.

Ques 7 B) Discuss the important amendments passed by Rajya Sabha on GST.

Ques 8 A) Give the differences between CGST, SGST and IGST Act.

Ques 8 B) Explain the provisions of import of goods under IGST act with an example.

Ques 9 A) Discuss the process of application for registration under GST.

Ques 9 B) Decide with reasons whether the following are supply or not?
1) Sale of goods to Mr. X for `50,000.
2) X Ltd. sold old machinery for `15 lac, input credit had been availed.
3) Y Ltd disposed off an asset which does not realise any amount from such disposal, input credit had been availed.
4) Gift to employee of 40,000
5) Gift to employee of 60,000

Ques 10 A) Discuss the matching, reversal and reclaim of input tax credit.

Ques 10 B) Shri Shiva imported goods for `10,000/- and incurred expenses to produce final saleable
goods. BCD @ 10 % was chargeable on imported goods. These manufactured goods were sold within the
state at `45,000 plus applicable GST. Rate of CGST and SGST is 5% and 7% respectively. Now suppose
the same good is exported after 1 year of use after adding margin and modification amounting `10,000/-
and use factor of 1 year for refund calculation is 0.20. Therefore the refund will be 0.80 of Duty
amount. Compute Export Value and Refund Value.

Ques 11 A) Discuss the various services rendered by GST Network.

Ques 11 B) With the help of diagrammatic representation explain the GSP Eco system.