(1) R(5th Sm.)-Taxation-II-H/CC-5.

2Ch/CBCS

2020
TAXATION-II — HONOURS
Paper : CC-5.2Ch
Full Marks : 80

The figures in the margin indicate full marks.

Candidates are required to give their answers in their own words
as far as practicable.

[ Direct Tax ]
(Marks : 40)

Group - A
Answer any two questions.

1. (a) What is belated return? What is the time limit for submitting a belated return?
(b) State the relevant provisions of scrutiny assessment. (2+2)+6

2. From the following information compute interest payable u/s 234A :

Due date of filing return 31.07.2019
Date of filing return 25.01.2020
Tax on assessed income ` 80,000

Advance Tax paid ` 30,000

Self assessment tax paid on 20.01.2020 ` 10,000 10

3. Write short notes on (any two) : 5×2

(a) PAN
(b) Revised Return
(c) TDS on winning from horse races
(d) Best Judgement Assessment.

Please Turn Over

R(5th Sm.)-Taxation-II-H/CC-5.2Ch/CBCS (2)
4. The estimated income of Mr. Gourab Ghosh (Age 51 years) during the previous year 2019-20 is as
under :
`.

Business income 7,99,750

Loss from self-occupied house 16,000
Income from other sources 27,500
As in last year, expected savings in PPF is ` 12,000. Tax deductible at source is estimated to
be ` 15,350.
Compute the advance tax and the installments payable on different dates. 10

Group - B
Answer any one question.
5. Sri D. Banerjee furnished the following information for the P.Y. 2019-2020 :
`.

Income from Salary (Gross) 6,02,400

Professional tax deducted by employer from salary 2,400
Income from house property 1,40,000
Short term capital loss on sale of gold 15,000
Long term capital gain on sale of land 40,000
Interest on Bank Deposit 25,000
(including interest on savings bank of ` 8,000)
Dividend from an Indian company 10,000
Received from lottery (after TDS @ 31.2%) 69,800
He made the following payments :
(a) Life Insurance Premium on own life ` 25,000 (Sum assured ` 2,00,000 taken on 15.10.2019)
(b) Deposit in PPF ` 1,40,000
(c) Own contribution to RPF ` 20,000
(d) Medical Insurance Premium on own health ` 10,000 and on the health of spouse ` 8,000 paid by
cheque
(e) Donation to P.M’s National Relief Fund ` 20,000
Compute his total income and tax payable for the A.Y. 2020 - 2021. 15+5
 (3) R(5th Sm.)-Taxation-II-H/CC-5.2Ch/CBCS

6. P and Q are partners of a firm sharing profits and losses in the ratio of 3:2. The firm satisfies all the
conditions of section 184 and 40(b). The profit and loss account of the firm for the year ended
March 31, 2020 shows net profit of ` 19,28,000.
Debit items include the following :
(a) Interest on Partners’ capital @20% p.a. : P ` 48,000, Q ` 40,000
(b) Partners’ Remuneration : P ` 2,60,000 ; Q ` 3,36,000
(c) Donation to an approved charitable institution ` 8,800
(d) Office expenses ` 50,000
(e) Depreciation ` 55,000
Credit items include the following :
(i) Interest on partners’ drawings : P ` 5,480; Q ` 4,000
(ii) Long term capital gain on sale of land calculated as per section 48 ` 94,280
Other information :
(1) Depreciation as per IT rules ` 60,000
(2) Office expenses include fines paid to customs authorities ` 10,000.
Compute total income and tax liability of the firm for the assessment year 2020-21. 16+4

[ Indirect Tax ]
(Marks : 40)

Group - C
Answer any four questions.
7. (a) Mention five indirect taxes which have been subsumed in GST.
(b) Write short notes on :
(i) Taxable person
(ii) Turnover in State and Union territory. 5+(2+3)

8. (a) A dealer sold detergent along with bucket. The taxable value of the supply is 1,20,000. The rate of
CGST and SGST on detergent is 9% in each case and that on the bucket is 14% in each case.
Compute CGST and SGST payable.
(b) Mr. P, a GST registered dealer supplied the following information for the month of
September, 2020 :
(i) Input Tax credit balance as on 01.09.2020 :
IGST 3,20,000
CGST 30,000
SGST 30,000
Please Turn Over
R(5th Sm.)-Taxation-II-H/CC-5.2Ch/CBCS (4)
(ii) Output GST payable as per Electronic liability register :
IGST 1,80,000
CGST 60,000
SGST 60,000
Compute GST payable and ITC to be carried forward. 4+6

9. (a) What do you mean by Composition Scheme?

(b) Who can opt for Composition Scheme?
(c) State the items to be included in the value of supply of goods under transaction value. 3+2+5

10. (a) Distinguish between Composite and Mixed Supply.

(b) Determine whether the following supplies amount to composite supplies–
(i) A hotel provides 3 nights - 4 days package wherein the facility of breakfast and dinner is
provided alongwith the room accommodation.
(ii) A toothpaste company has offered the scheme of free toothbrush of ` 15 alongwith the
toothpaste tube of ` 100. 6+2+2

11. (a) What is exempt supply? How it differs from zero rated supply?
(b) Explain the meaning of ‘Taxable supply’ and ‘Non-taxable supply’. (2+4)+(2+2)

12. (a) Ascertain Point of taxation in the following cases –

Nature of supply Goods delivered Date of Invoice Date of Payment
Goods 10.02.2020 08.02.2020 15.03.2020
Goods 10.04.2020 10.04.2020 02.02.2020
Goods 10.04.2020 12.04.2020 05.05.2020
(b) How the time of supply determined when GST payable on supply of goods under ‘reverse charge’
mechanism? 6+4

13. Write short notes on (any two) : 5×2

(a) Protective Duty
(b) Safeguard Duty
(c) Anti Dumping Duty.
 (5) R(5th Sm.)-Taxation-II-H/CC-5.2Ch/CBCS

14. XYZ Ltd. imported certain machinery from Japan. From the following information, determine assessable
value of imported machinery :
FOB value of machine YEN 5,00,000
Freight from importing country to India (by Air) YEN 50,000
Freight from airport to factory in Tamilnadu ` 75,000
Insurance YEN 50,000
Designing charges paid in Japan YEN 75,000
Landing charges 1% of CIF value
Commission paid to Indian agent (payable in Re) 5% of FOB
Exchange rate notified by CBIC is 1 YEN = Re. 0.50. 10