CS Professional Advanced Tax Laws and Practice PYQ December 2018: Question Paper and Available Answers
CS Professional
Advanced Tax Laws and Practice
PYQS Series
December 2018
46 Questions Indexed
ICSI Examination Archive & Suggested Answers: This directory contains indexed questions from the paper for CS Professional Advanced Tax Laws and Practice PYQS (December 2018). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.
Indexed questions
- From the following information provided for the previous year 2017-18, compute the total income and tax liability considering provisions of Alternate Minimum Tax assuming the asses
- What are the restrictions with regard to transactions in cash as per the provisions of Income Tax Act, 1961?
- An individual wants to donate ₹5,000 in cash to a political party. Should the political party accept it in cash?
- Discuss provisions under section 115BBD Vs. 115BBDA with reference to taxation of foreign dividends.
- Specify whether the following acts can be considered as (i) Tax planning; or (ii) Tax management; or (iii) Tax evasion. P deposits ₹1,00,000 in Public Provident Fund (PPF) account
- Specify whether the following acts can be considered as (i) Tax planning; or (ii) Tax management; or (iii) Tax evasion. SQL Ltd. maintains register of tax deduction at source affec
- Specify whether the following acts can be considered as (i) Tax planning; or (ii) Tax management; or (iii) Tax evasion. An individual tax payer making tax saver fixed deposit of ₹1
- Specify whether the following acts can be considered as (i) Tax planning; or (ii) Tax management; or (iii) Tax evasion. A bank obtaining declaration from depositors in Form No. 15G
- Specify whether the following acts can be considered as (i) Tax planning; or (ii) Tax management; or (iii) Tax evasion. Z debits his household expenses as business expenses in the
- A Ltd., a US company has a subsidiary B Ltd. in India. A Ltd. sells Laptops to B Ltd. for resale in India. A Ltd. also sells laptops to C Ltd., another reseller. It sells 40,000 La
- Usha, aged 50 years, a resident in India for the previous year 2017-18 receives professional fee of ₹4,50,000 for rendering services outside India. Tax of ₹1,20,000 was deducted at
- Written down value of a block of assets as on 1st April 2017 was ₹4,00,000. On 12th May, 2017, an asset belonging to the same block was purchased for ₹2,00,000. Suddenly a fire bro
- Written down value of a block of assets as on 1st April 2017 was ₹4,00,000. On 12th May, 2017, an asset belonging to the same block was purchased for ₹2,00,000. Suddenly a fire bro
- Parimal, Managing Director of Heavens Engg. Pvt. Ltd. holds 70% of its paid up capital of ₹20 Lakh. The balance as on 31st March 2017 in General Reserve was ₹6 Lakh. The company on
- Advise Rashmi suitably to minimise her tax liability based on the facts given below. Rashmi, an Indian citizen, joined University of Toranto as a professor in Canada, on a monthly
- A is employed with XYZ Ltd. His salary is ₹1,00,000 per month. He is also paid house rent allowance of ₹20,000 per month. His wife B is also employed at a salary of ₹40,000 per mon
- Determine the place of supply according to the provisions of Integrated Goods and Services Tax Act, 2017 in the following cases: K of Kerala places an order to H of Gurgaon (Haryan
- Determine the place of supply according to the provisions of Integrated Goods and Services Tax Act, 2017 in the following cases: P Ltd. registered in Punjab sold its pre-installed
- Determine the place of supply according to the provisions of Integrated Goods and Services Tax Act, 2017 in the following cases: M from Mumbai enters into contract with the Indian
- Determine the place of supply according to the provisions of Integrated Goods and Services Tax Act, 2017 in the following cases: D of Delhi has a savings bank account with HDFC Ban
- Determine the place of supply according to the provisions of Integrated Goods and Services Tax Act, 2017 in the following cases: K of Kerala avails architect services for his prope
- Calculate FOB Value, Cost of Insurance, Cost of Freight and Assessable Value where only the CIF value is given as US $5,000. Exchange rate notified by RBI and CBEC are ₹50 and ₹48
- M/s Nose Ltd. reduced the amount of ₹2,25,000 from the output tax liability in contravention of the provisions of section 42(10) of the CGST Act, 2017 in the month of January 2018
- Compute the assessable value and total customs duty payable under the Customs Act, 1962 for an imported machine, based on the following information : Particulars Amount (US $) Cost
- Briefly explain the following features of GST law in India : Consumption based tax
- Briefly explain the following features of GST law in India : Integrated Goods and Services Tax.
- St. Thomas Hospital and Research Centre imported a machine from Long Life Scientific Ltd., USA for in-house research. The price of the machine was settled at US $8,000. The machine
- X is a registered trader in Ghaziabad (Uttar Pradesh). In the Financial Year 2017-18 total value of supplies are as follows: Intra-state supplies made under forward charge: ₹35 lak
- Importer BOPPA Ltd. imported two consignments of ethyl alcohol which were allowed to be cleared for home consumption on execution of a bond undertaking to produce licence within a
- Explain the validity of the following statements with reference to Chapter IX of the Customs Act, 1962 containing the provisions relating to the warehousing : The proper officer is
- Explain the validity of the following statements with reference to Chapter IX of the Customs Act, 1962 containing the provisions relating to the warehousing : The Commissioner of C
- Explain the validity of the following statements with reference to Chapter IX of the Customs Act, 1962 containing the provisions relating to the warehousing : The Commissioner of C
- Ratan exported 2,000 pairs of leather shoes @ ₹750 per pair. All industry rate of duty drawback is fixed on average basis i.e. @ 11% of F.O.B. subject to maximum of ₹80 per pair. T
- With reference to recent amendments made (Vide Finance Act, 2017) in the Customs Act, 1962, examine the validity of the following statements : A beneficial owner of imported goods
- With reference to recent amendments made (Vide Finance Act, 2017) in the Customs Act, 1962, examine the validity of the following statements : Customs area does not include a wareh
- With reference to recent amendments made (Vide Finance Act, 2017) in the Customs Act, 1962, examine the validity of the following statements : Customs station includes internationa
- Explain the consequences according to provisions of GST law, if a recipient of goods or services or both does not make payment for the supply within 180 days.
- Discuss the provisions relating to refund of balance in electronic cash ledger as per the GST law.
- M/s Basu & Co., an Audit Firm based in Kolkata undertake an Audit assignment of a Mumbai based client. The contract with the client includes ₹5,00,000 as audit fee and arrangement
- What are the documents required to be prepared by the recipient of supplies from an unregistered person as per GST law?
- Explain the concept of "Zero rated and Exempt transaction" for the purpose of availment of input tax credit in GST law.
- Briefly discuss the provisions related to Levy of late fee as per section 46 of CGST Act, 2017 on a person who fails to furnish the details of outward or inward supplies required u
- B, a supplier registered in Chennai (Tamil Nadu) procures goods from China and directly supplies the same to a customer in UAE without bringing to India. With reference to the prov
- Is a dealer, who is not required to be registered because he has not crossed the turnover limit, required to pay GST under reverse charge in respect of supplies for which reverse c
- Hiyakash Ltd. is a producer of certain products. The tax rate applicable on the supply of goods by them is 18%. (SGST 9% and CGST 9%). The company purchased goods worth ₹47,200 (In
- Yash an importer, imported certain goods on 10th April, 2017 and paid custom duty by understating the value of goods imported. A show cause notice was issued on Yash by the proper
How to Prepare for CS Professional Advanced Tax Laws and Practice
Use past questions to practise the paper format and review available answers. Check the current syllabus, applicable law and examination duration before attempting a timed paper.