Mr. Allauddin, a stationery retailer, located and registered under GST in Allahabad, has received order for supply of goods worth 2,00,000 on 12th November from another local registered dealer, Mr. Jallauddin.
Goods were supplied under the cover of a tax invoice. Mr. Allauddin, incurred the following additional expenses before the goods were delivered to Mr. Jallauddin:
Packing charges - 3,000
Freight & Cartage - 2,500
Handling Charges - 1,500
Mr. Jallauddin made full payment (including the additional amounts charged by Mr. Allauddin) on delivery of the goods for which he was allowed instant cash discount of 2,000.
The applicable rates of tax on the goods supplied are: IGST @ 18%, CGST @ 9% and SGST @ 9% and the amounts given above are exclusive of GST. Mr. Allauddin paid CGST of 18,000 and SGST of 18,000. As a tax consultant, determine the further tax liability of Mr. Allauddin.
CGST - 630 and SGST - 630
CGST - 450 and SGST - 450
CGST - 18,630 and SGST - 18,630
CGST - 18,450 and SGST - 18,450
Correct Answer :
A. CGST - 630 and SGST - 630
Related Questions
Which of the following shall not be included in value of supply?
GST
Interest
Late fee
Commission
Which of the following transactions does not qualify as supply underGST law?
Disposal of car without consideration and the supplier has not claimed input tax credit on such car.
A principal makes supplies to his agent who is also registered under GST and is situated within the same State and the invoice for further supply is issued by the agent in his name.
Head Office makes a supply of services to its own branch outside the State.
A person imports services without consideration for the purposes of his business from his elder son living outside India.
Which of the following is/are included in definition of Goods as defined under section 2(52) of the CGST Act, 2017
I. Money
II. Actionable claim
III. Security
IV. Growing crops
Select the correct answer from the options given below
IV only
II & III
II & IV
I & II
What is the time of supply of service where services are received from an associated enterprise located outside India?
Date of entry of services in the books of account of recipient of service
Date of payment
Earlier of (a) & (b)
Date of entry of services in the books of the supplier of service
When can the transaction value be rejected for computation of value of supply
When the buyer and seller are related and price is not the sole consideration
When the buyer and seller are unrelated or price is not the sole consideration
It can never be rejected
When the goods are sold at very low margins
Jolly Electronics (P) Ltd., an authorized dealer of GG Micro Ltd., is located and registered under GST in Lucknow, Uttar Pradesh. It hassold following items to Mr. Rakesh (a consumer):
| Product | Amount |
|---|---|
| Refrigerator (500 litres) taxable @ 18% | 40,000 |
| Stabilizer for refrigerator taxable @ 12% | 5,000 |
| LED television (42 inches) taxable @ 12% | 30,000 |
| Split air conditioner (2 Tons) taxable @ 28% | 35,000 |
| Stabilizer for air conditioner taxable @12%. | 5,000 |
| Total value | 1,15,000 |
Jolly Electronics (P) Ltd. has given a single invoice indicating price of each item separately to Mr. Rakesh. Mr. Rakesh has given a single cheque of 1,00,000 for all the items as a composite discounted price. State the type of supply and the tax rate applicable on the same.
Composite supply; highest tax rate applicable to split airconditioner, i.e. 28%
Mixed supply; highest tax rate applicable to split airconditioner, i.e. 28%
Supply other than composite and mixed supply; highest tax rate applicable to split air conditioner, i.e., 28%
Supply other than composite and mixed supply; respective taxrate applicable to each item
What is the time of supply of vouchers when the supply with respect to the voucher is not identifiable?
Date of issue of voucher
Date of redemption of voucher
Earlier of (a) & (b)
(a) & (b) whichever is later
In case of renting of land, inside an Industrial estate, by State Government to a registered manufacturing company, liability to pay GST is on:
State Government
Registered Manufacturer Company
Both
None of the Above
Which types of duties subsumed into GST to be levied by Centre or States.
Stamp Duty
Duties of Excise on medical and toilet preparation
Property Tax
Basic Custom Duty
ITC on works contract service can be availed only if
Engaged in same line of business
Service related to movable property
Service related to immovable property
All of above
Which of the following is not a supply under the CGST Act, 2017?
Goods supplied free of cost by X & Sons to its agent for further supply to customer at 5,000 for which invoice will be issuedby the agent in his own name.
Importation of accounting services (for business purposes) free of cost from a dependent father residing in US.
An expensive watch gifted to an employee for 50,000. No other gifts provided to such employee during the entire financial year.
A machinery disposed off free of cost on which input tax credithas been availed.
What is the nature of supply if the nature of Supply is not determinable?
Intra-state
Inter-state
Either (a) or (b) at the option of Taxpayer
Either (a) or (b) at the option of PO
What is the time of supply of services where the supplier is liable to pay tax under forward charge and the invoice is not issued within prescribed period under section 31(2)?
Date of issue of invoice
Date of completion of provision of services
Date of receipt of payment
Date of completion of provision of service or date of receipt of payment; whichever is earlier.
Under which of the following situations, input tax credit will beavailable under GST law?
Cars purchased by a manufacturing company for official use ofits employees.
Aircraft purchased by a manufacturing company for official useof its CEO.
General insurance taken on a car used by employees of a manufacturing company for official purposes.
Maintenance & repair services availed by a company for a truck used for transporting its finished goods.
What deductions are allowed from the transaction value
Discounts offered to customers, subject to conditions
Packing Charges, subject to conditions
Amount paid by customer on behalf of the supplier, subject to conditions
Freight charges incurred by the supplier for CIF terms of supply, subject to conditions
GST is levied on supply of all goods and service except.....
Alcoholic liquor for human consumption
Tobacco
Health care service
All of the above
Rule 30 of the CGST Rules inter alia provides value of supply of goods or services or both based on cost shall be ...................% of cost of production or manufacture or the cost of acquisition of such goods or the cost of provision of such services
100
10
110
120
What is the time of supply of vouchers when the supply with respect to the voucher is identifiable?
Date of issue of voucher
Date of redemption of voucher
Earlier of (a) & (b)
(a) & (b) whichever is later
Which of the following taxes will be levied on imports?
CGST
SGST
IGST
CGST and SGST
Maximum rate of CGST prescribed by law for intrastate supply made is.......
18%
40%
20%
28%+cess
Which of the following forms part of transaction value?
1) GST compensation cess
2) Payments made to third parties by the recipient on behalf of the supplier in relation to the supply
3) Entertainment tax levied by local authority
4) Commission paid to an agent and recovered from the recipient
5) Inspection charges at recipients site
6) Charges for delay in payment waived off by supplier
State the correct answer from the options given below
1, 2, 3, 4 & 5
2, 3, 4, 5 & 6
2, 3, 4 & 5
All of the above
Which of the following statements is false?
ITC on works contracts services availed by a software company for construction of its office, is blocked.
ITC on works contract services availed by a manufacturing company for construction of pipelines to be laid outside its factory, is blocked.
ITC on goods and/or services used by an automobile company for construction of a foundation on which a machinery (to be used in the production process) is to be mounted permanently,is allowed.
ITC on works contract services availed by a consulting firm for repair of its office building is blocked provided the company has booked such expenditure in profit and loss account.
Mr. Allauddin, a stationery retailer, located and registered under GST in Allahabad, has received order for supply of goods worth 2,00,000 on 12th November from another local registered dealer, Mr. Jallauddin.
Goods were supplied under the cover of a tax invoice. Mr. Allauddin, incurred the following additional expenses before the goods were delivered to Mr. Jallauddin:
Packing charges - 3,000
Freight & Cartage - 2,500
Handling Charges - 1,500
Mr. Jallauddin made full payment (including the additional amounts charged by Mr. Allauddin) on delivery of the goods for which he was allowed instant cash discount of 2,000.
The applicable rates of tax on the goods supplied are: IGST @ 18%, CGST @ 9% and SGST @ 9% and the amounts given above are exclusive of GST. Mr. Allauddin paid CGST of 18,000 and SGST of 18,000. As a tax consultant, determine the further tax liability of Mr. Allauddin.
CGST - 630 and SGST - 630
CGST - 450 and SGST - 450
CGST - 18,630 and SGST - 18,630
CGST - 18,450 and SGST - 18,450
What is time of supply of goods, in case of forward charge?
Date of issue of invoice
Due date of issue of invoice
Date of receipt of consideration by the supplier
Earlier of (a) & (b)
Mr. Chamcham, registered under GST in Delhi, is a domestic trader as also an exporter of whole-sale goods. His annual turnover and inputtax details are as follows:
| + | Turnover | Tax paid on inputs |
|---|---|---|
| Taxable goods | 90,00,000 | 9,00,000 |
| Exempt goods | 10,00,000 | 1,00,000 |
| Exported goods | 15,00,000 | 2,00,000 |
No GST is payable on exempt and exported goods. Mr. Chamcham seeks your expert help in calculating the amount of ITC which he is eligible to claim under GST law. ITC admissible, in given case, is:
12,00,000
11,00,000
10,00,000
9,00,000
Aircool Ltd., a supplier of air conditioners, is registered under GST inthe State of Maharashtra. It has a policy to gift an air conditioner to its employees [residing in Gujarat] at the end of a financial year in terms of the employment contract. The company installs such air conditioners at the residence of the employees.
During the current financial year, the company gifted its employees 150 air conditioners and got the air conditioners installed at the residence of these employees. The total open market value of such air conditioners is 52.50 lakh (excluding GST). The tax rate on such air conditioners is 28% (14% CGST, 14% SGST and 28% IGST). Compute the GST liability of Aircool Ltd., if any.
7,35,000 - CGST, 7,35,000 SGST
14,70,000 - IGST
Nil
7,35,000 IGST
Which of the following persons can opt for the composition schemeunder subsections (1) and (2) of section 10 of the CGST Act, 2017, inthe State of Delhi?
1. Registered person whose aggregate turnover in the precedingfinancial year did not exceed 75 lakh.
2. Registered person whose aggregate turnover in the precedingfinancial year did not exceed 1.5 crore.
3. A person engaged in manufacture of pan masala, tobacco andmanufactured tobacco substitutes.
4. A person engaged in the manufacture of ice cream, other edibleice, whether or not containing cocoa.
5. A person engaged exclusively in providing restaurant service.
6. A person engaged exclusively in supply of medicines.
1, 2, 3, 5
1, 2, 5, 6
2, 3, 4, 5
3, 4, 5, 6
What are the taxes levied on an intra-State supply?
CGST
SGST
CGST and SGST
IGST
Sitting fees received by director of XYZ Ltd., is liable for GST in the hands of the………
Director
XYZ Ltd
Both of above
None of the above
Who will notify the rate of tax to be levied under CGST Act?
Central Government
State Government
GST Council
Central Government as per the recommendations of the GST Counci