CS Professional Advanced Tax Laws PYQ June 2021: Question Paper and Available Answers

CS Professional Advanced Tax Laws PYQS Series June 2021 61 Questions Indexed

ICSI Examination Archive & Suggested Answers: This directory contains indexed questions from the paper for CS Professional Advanced Tax Laws PYQS (June 2021). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.

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Indexed questions

M/s Basundhara Properties is a registered person under GST. Its main business is renting of various Immovable properties owned by them. The following collections are made in the co
What do you mean by zero rated supply? List the essential features of zero rated supply. Explain the procedure for claiming refund for zero rated supply.
Discuss briefly the salient features of Quarterly Return Monthly Payment (QRMP) scheme under GST.
Explain the provisions of CGST Act and rules regarding Annual Return for the financial year 2019-20.
State with reasons whether the following statements are true or false under GST Law: CGST Balance of one state can be adjusted to set off CGST Liability of another state.
State with reasons whether the following statements are true or false under GST Law: No e-way bill is required if a Registered person from West Bengal purchases goods from Delhi va
State with reasons whether the following statements are true or false under GST Law: A person exclusively dealing in goods not liable to tax or wholly exempt from tax having a turn
State with reasons whether the following statements are true or false under GST Law: TCS is not required to be collected on supplies on which the recipient is liable to pay tax on
State with reasons whether the following statements are true or false under GST Law: Malaysia was the first country to have Anti-profiteering provisions.
A.K. Services registered under GST in Chennai is engaged in supply and service of various goods and services. For the month of November, 2020, it has provided the following data: P
State whether the deductee can claim credit of TDS deducted under GST.
Jinia is a Garments manufacturer registered under GST. It received a Government order for making Garments for Defence Personnel (exempted from GST under a special notification by t
X Ltd. availing the composition scheme under GST Act and paying taxes accordingly had a turnover from the supply of goods of Rupees 150 Lakhs. upto 31st December, 2020. On the 1st
Z Ltd. registered under GST and having opted for simplified composition scheme (as prescribed under Notification No. 2/2019 - CT (Rate) has furnished the following details: Supply
Discuss the provisions of GST laws in respect of the following circumstances: R.K. Steel company received an order for supply of 1000 ton steel and supplied the same in installment
Discuss the provisions of GST laws in respect of the following circumstances: What will be the due date of invoice if goods sent on approval for sale or return?
Discuss the provisions of GST laws in respect of the following circumstances: Farmer A is engaged in farming and cultivates agricultural produce from his own land. He supplies agri
Discuss the provisions of GST laws in respect of the following circumstances: W Ltd. provides consultancy services without consideration to V Ltd. in which W Ltd. has holding right
State with reasons, whether the following statements are true or false under GST law: The rates for CGST are rates as may be notified by the Government on the recommendations of th
State with reasons, whether the following statements are true or false under GST law: Natural Gas is taxable @ 12% under GST Act, 2017.
State with reasons, whether the following statements are true or false under GST law: Jai Singh has GST registration in two different states in his own Permanent Account Number. He
State with reasons, whether the following statements are true or false under GST law: TDS under section 51 of CGST Act should be paid to the Government by the deductor within 15 da
State with reasons, whether the following statements are true or false under GST law: Mohit, a registered person under GST of U.P. has intra-state sales of Rupees 1.30 crores and p
The assessable value of a commodity imported into India is ₹ 10,000, Basic Customs Duty is 10%, Social welfare cess @ 10% of Customs Duty and the IGST is leviable @ 18%. Calculate
The assessable value of a commodity inclusive of landing charges is ₹ 50,000 IGST @ 28%. Basic Customs Duty @ 10%, countervailing Duty @ 12%, Social Security Cess (SCC) @ 10% and C
From the following information determine the value of taxable supply as per the provision of section 15 of the CGST Act, 2017. Contracted value of supply excluding GST (inclusive o
State the consequences of the following violations/defaults under the provisions of GST Laws: A fails to pay GST of Rupees 50,000 to the Government on the due date prescribed.
State the consequences of the following violations/defaults under the provisions of GST Laws: Chauhan Trader makes an Input Tax Credit (ITC) claim of Rupees 40,000 in respect of a
State the consequences of the following violations/defaults under the provisions of GST Laws: K, a registered person purchased goods from L and claimed Rupee 1,20,000 as input tax
State the consequences of the following violations/defaults under the provisions of GST Laws: Refund of unutilized Input Tax Credit delayed by the department beyond 60 days after t
State the consequences of the following violations/defaults under the provisions of GST Laws: Govind failed to furnish the annual return under section 44 of the CGST Act, 2017 by t
State briefly the features of Quarterly Return Monthly Payment (QRMP) scheme of furnishing GST return under CGST Act, 2017.
Mention the due date/maximum time allowed for the following: Issue of orders u/s 74(10) of the CGST Act, 2017.
Mention the due date/maximum time allowed for the following: Withdrawal period for application for advance ruling under Customs Act, 1962.
Mention the due date/maximum time allowed for the following: Period of punishment for tempering of records by a dealer.
Mention the due date/maximum time allowed for the following: Time of supply of goods when : A supplied goods to S on 15th March, 2020 for ₹ 11,800 taxable @ 18% GST. GST rate reduc
A person dealing in supply of taxable goods is doing business since 01.01.2021. He crossed the mandatory thresholds for registration of ₹ 40 Lakhs on 22.01.2021. He was required to
A registered person under GST failed to file his returns for a period of the last six consecutive months. For this period his liability under GST works out to ₹ 20,000 (CGST ₹ 10,0
Determine the time of supply in the following transactions: Grocery supplier company issues a voucher of ₹ 3,500 for purchase of any item from its stores against bulk purchase.
Determine the time of supply in the following transactions: Grocery supplier company issues a voucher only to buy an Electric Fan for ₹ 3,500, on 15th September, 2019.
Determine the time of supply in the following transactions: Ram purchases goods worth ₹ 10,000 on 10.01.2021 and later on paid ₹ 10,600 with interest on 10.03.2021. Mention the tim
Determine the time of supply in the following transactions: Saroj consultancy services received advance of ₹ 50,000 from clients on 31.12.2020 for services to be rendered in the mo
Rise India Ltd. has exported goods to Germany out of its imports from Japan. Calculate the Duty Drawback admissible to Rise India Ltd. under section 75 of Customs Act, 1962 in each
Distinguish between Protective Duty and Safeguard Duty under Custom Tariff Act, 1975.
What are the practical difficulties in applying Arm's length price?
Narrate any three evil consequences of tax avoidance.
Discuss the exclusions provided from the provisions of GAAR.
A person whose turnover during the previous year ended 31.03.2020 was ₹ 15 crores. From 01.04.2020 to 30.09.2020 he received ₹ 55 lakhs from A against sales made by him. During the
A person whose turnover during the previous year ended 31.03.2020 was ₹ 15 crores. From 01.04.2020 to 30.09.2020 he received ₹ 55 lakhs from A against sales made by him. During the
A person fails to furnish audit report under section 92E of the Income Tax Act, 1961. The Income Tax Officer inmposes penalty on the assessee. Assessee challenges the penalty stati
In the books of a sole proprietor carrying on business the block of fixed assets stood at 01.04.2020 as ₹ 4,00,000. If the rate of depreciation is 15% and another machinery was pur
XYZ Inc., a company incorporated in U.S. is engaged in management consultancy. It has set up a branch office in India which qualifies to be a permanent establishment in terms of In
Discuss the relevant provisions of Income Tax Act, 1961 in respect of the following transactions: Mr. Aslam purchased a house property in Ajmer from Mr. Salim on 28.08.2020 for a c
Discuss the relevant provisions of Income Tax Act, 1961 in respect of the following transactions: Mr. Joy has entered into International transactions aggregating to ₹ 75 lakhs and
Find out the amount of advance tax payable by Mr. A on specified dates under the Income Tax Act, 1961 for the financial year 2020-21 from the following information: ₹ Business Inco
Comment on the following independent situations, whether X Ltd. and Y Ltd. constitute associated enterprises under the provisions of Section 92A : Book value of total assets of X L
Comment on the following independent situations, whether X Ltd. and Y Ltd. constitute associated enterprises under the provisions of Section 92A : Y Ltd. is engaged in trading of f
Comment on the following independent situations, whether X Ltd. and Y Ltd. constitute associated enterprises under the provisions of Section 92A : X Ltd. has two units, Unit A and
Comment on the following independent situations, whether X Ltd. and Y Ltd. constitute associated enterprises under the provisions of Section 92A : X Ltd. holds whole of equity shar
Comment on the following independent situations, whether X Ltd. and Y Ltd. constitute associated enterprises under the provisions of Section 92A : Y Ltd. has the right to appoint o
For the Assessment Year 2021-22 DD Ltd. paid Tax @ 15% on its book profit computed under section 115 JB. During the assessment proceedings the Assessing officer wants to charge int

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