Name of subject-in-charge(s): Prof.

Vivek Kuchhal

Paper (Subject Name): GST

Paper Code: BBA 301

Prof. Vivek Kuchhal

Signature(s) of Subject-in-charge(s):

ANSWER KEY

1. a) 2. d) 3. c) 4. c) 5. b) 6. c) 7. b) 8. b) 9. b) 10. a)

11. c) 12. d) 13. a) 14. b) 15. a) 16. b) 17. c) 18. a) 19. a) 20. c)

21. b) 22. a) 23. c) 24. c) 25. b) 26. d) 27. a) 28. a) 29. b) 30. c)

Terminal Test- September 2024

BBA Semester-V

Paper ID: 017301

Paper Code: BBA 301 Time: 2½ Hours
Paper Title: GST Max. Marks: 60

(NOTE: INFLUENCING EVALUATOR BY GIVING NAMES, SYMBOLS ETC. IN ANSWER

BOOK WOULD BE TREATED AS UFMS)

PART A
MCQ’S: SELECT THE MOST APPROPRIATE ANSWER (10 X 1)

1. Which of the following tax will be abolished by the GST?

a) Service Tax b) Income Tax c) Wealth Tax d) House Tax

2. Final burden of indirect taxes falls on:

a) Manufacturer b) Trader
c) Retailer d) Consumer

3. What is the applicability of GST.

a) Applicable all over India except Sikkim
b) Applicable all over India except Jammu and Kashmir
c) Applicable all over India
d) Applicable all over India except Nagaland
4. Goods and Service Tax council referred in which section
a) 246A of the constitution b) 239A of the constitution
c) 279A of the constitution d) 269A of the constitution

5. Weightage of vote for centre at GST Council

a) 1/4th of total votes cast b) 1/3rd of total votes cast
c) ½ of total votes cast c) 2/3rd of total votes cast

6. Who is chairperson of GST Council?

a) Finance Secretary b) State Finance Minister
c) Union Finance Minister d) Prime Minister

7. Schedule in which certain activities/transactions which are neither supply of goods nor supply of
services are mentioned:
a) Schedule I b) Schedule III c) Schedule II d) Schedule IV

8. When GST Council was constituted

a) 10.09.2016 b) 15.09.2016 c) 12.09.2016 d) 20.09.2016

9. Taxable levy in case of Trader of Goods under composite scheme

a) 2.5% CGST+ 2.5% SGST b) 0.5% CGST+ 0.5% SGST
c) 1% CGST+ 1% SGST d) 3% CGST+ 3% SGST

10. Whether person opted for composite scheme can collect tax under GST
a) No b) Yes c) Yes, if his turnover is less than 1.5 Cr d) None of the above

11. “Invoice” or “tax invoice” mentioned in which section

a) Section 27 b) Section 29 c) Section 31 d) Section 47

12. Value of supply under section 15(1) is:

a) Wholesale price b) Market value c) Maximum retail price d) Transaction value

13. Value of supply shall not include:

a) GST
b) Interest, late fee or penalty for delayed payment of any consideration for any supply
c) Subsidies directly linked to the price except subsidies provided by the Central and State
Governments
d) Commission

14. When can the transaction value be rejected for computation of value of supply?
a) When the buyer and seller are related and price is not the sole consideration
b) When the buyer and seller are related or price is not the sole consideration
c) It can never be rejected
d) When the goods are sold atvery low margins

15. The term ‘casual taxable person’ includes:

a) A person occasionally supplying goods or services or both in a State or a Union territory
where he has no fixed place of business.
b) A person occasionally supplying goods or services or both in a State or a Union territory
where he has fixed place of business.
c) Both (a) and (b)
d) None of the above

16. Mr. X of Delhi is participating in Hitex Furniture Expo in Haryana where he has no fixed place of
business and exhibiting his products. During the expo, the said products will be sold to the people
attending and intending to purchase such products. In such scenario, Mr. X shall obtain which of
the following registration under the CGST Act, 2017:
a) Non–resident taxable person registration
b) Casual taxable person registration
c) Regular taxpayer registration
d) No registration under GST required.

17. ‘P’ Ltd. has its registered office under the Companies Act, 2013 in the State of Maharashtra. It
also has a corporate office in the State of Telangana. What will be the place of business of ‘P’ Ltd.
under the CGST Act, 2017?
a) Telangana b) Maharashtra c) Both (a) and (b) d) None of the above

18. P Ltd. has a contract with X Ltd. to provide bookkeeping services to Q Ltd. Q Ltd. is a subsidiary
of P Ltd. The liability to discharge consideration for such bookkeeping service is of P Ltd. As per the
CGST Act, 2017, who will be the recipient of the above service?
a) P Ltd. b) Q Ltd. c) X Ltd. d) Both (a) and (b)

19. Aggregate turnover does not include-

a) Inward supplies on which tax is payable on reverse charge basis
b) Exempt supplies
c) Export of goods or services or both
d) Inter-State supplies of persons having the same PAN number

20. ABC ltd. has provided following information for the month of Sep, 2018:
a) Intra-State outward supply 8,00,000/-
b) Inter-State exempt outward supply 5,00,000/-
c) Turnover of exported goods 10,00,000/-
d) Payment made to GTA 80,000/-
Calculate the aggregate turnover of ABC Ltd.
a) 8,00,000/- b) 23,80,000/- c) 23,00,000/- d) 18,00,000/-
21. The definition of goods under section 2(52) of the CGST Act does not include-
a) Grass b) Money and securities c) Actionable claims d) Growing crops

22. Agent means:

a) A person who carries on the business of supply or receipt of goods or services or both on
behalf of another
b) A person who arranges or facilitates the supply of goods or services or both, but does not
include a person who supplies such goods or services or both on his own account
c) Both (a) or (b)
d) None of the above

23. What are the factors differentiating composite supply & mixed supply?
a)Nature of bundling i.e. artificial or natural b) Existence of principal supply
c) Both of the above d) None of the above

24. Which of the following taxes will be levied on imports?

a) CGST b) SGST c) IGST d) CGST and SGST

25. Mr. Richard, a Manufacturer in Delhi has opted for composition scheme of taxation under
GST. Determine the rate of total GST payable by him under composition scheme:
a) 2.5% CGST & 2.5% UTGST b) 0.5% CGST & 0.5% SGST
c) 1% CGST & 1% UTGST d) 0.25% CGST & 0.5% UTGST

26. Which of the following is not included in aggregate turnover?

a) Exempt supplies of goods or services or both
b) Export of goods or services or both
c) Inter-State supply of goods or services or both
d) Value of inward supplies on which tax is paid under reverse charge

27. On supply of which of the following items, GST shall be levied with effect from such date as may
be notified by the Government on the recommendations of the GST Council
a) Petroleum crude b) Alcoholic liquor for human consumption
c) Both (a) and (b) d) None of the above

28. IGST levy can be levied by

a) Centre b) State c) Union Territory d) Both a and b

29. A person is having multiple branches requires registration in

a) Each branch separately b) Each State where he has place of Business
c) Either A or B d) None of the above
 30. GST Registration is
a) Aadhar based b) Passport based c) PAN based d) None of the above

PART B
SHORT QUESTIONS: WRITE SHORT NOTES ON ANY TWO OF THE FOLLOWING (2 X 5)

1. Discuss the following:

(a) Input Tax Credit
(b) Composite & Mix Supply
(c) Composition Levy.
2. Differentiate between Direct Taxes and Indirect Taxes
3. Differentiate between G.S.T. and Sales Tax.
4. Define the various steps taken in describing the place of Supply.
5. Mr. X is a dealer registered in GST and has purchased goods for Rs.7,60,000 and paid CGST @9% and
SGST @9% and sold goods at a profit of 40% on cost and charged output CGST @9% and SGST@9%.
Compute tax payable, Output Tax and Input Tax

PART C
LONG QUESTIONS: ANSWER ANY FOUR OUT OF THE FOLLOWING QUESTIONS (4 X 10)

1. What is Goods and Service Tax? How does it work, explain with suitable examples?
What are the features of G.S.T?
2. Discuss the provisions of Levy of CGST Act. How is the Electronic Commerce Operator
(ECO) taxable under G.S.T?
3. Define the term “Scope of Supply” provided under Section 7 of the CGST Act. Please explain
the activities specified in Schedule 1 and Schedule II of CGST Act 2017, with suitable
examples.
4. Explain Place & Time of Supply under GST.
5. Illustrate in detail the various steps to file GST returns.
6. What is the meaning of exempt supply? Give some examples of goods &services which have
been exempted from GST.
7. ABC Ltd. Purchase raw material of Rs.800,000/- and paid CGST 14% + SGST 14% and
incurred Rs.600,000/- for processing and had profit of 30% on cost and charged CGST 14% +
SGST 14%. It was purchased by wholesaler XYZ Ltd. And the product was sold further at a
profit of 20% on cost and charged CGST 14% + SGST 14%
Compute Tax Liability of ABC Ltd. And XYZ Ltd.