Preetam, a registered supplier of Kota (Rajasthan), has made the following supplies in the month of July, 2024 : (i) Supply of a laptop bag along with the laptop to a customer of Mumbai for ₹ 1,70,000 (exclusive of GST).

CS Executive · Tax Laws and Practice · PYQS · December 2024
Preetam, a registered supplier of Kota (Rajasthan), has made the following supplies in the month of July, 2024 : (i) Supply of a laptop bag along with the laptop to a customer of Mumbai for ₹ 1,70,000 (exclusive of GST). (ii) Supply of sweets @ ₹500 per KG in a box. Cost of each box is ₹ 20 per box. In order to increase his turnover Preetam did not charge the amount of box from customer. During the month of July, 2024, he sold 140 boxes of 1 KG sweet to local customers in Kota. (iii) Supply of 2,000 kits (at ₹ 75 each) amounting to ₹1,50,000 (exclusive of GST) to Kamal Fancy Store in Jodhpur (Rajasthan). Each kit consists of 1 hair oil, I beauty soap and 1 hair comb. (iv) 250 kits are given as free gift to Udaipur customers on the occasion of Preetam's wife birthday. Each kit consists of 1 hair oil and 1 beauty soap. Cost of each kit is ₹ 40, but the open market value of such kit of goods and of goods of like kind and quality is ₹ 50. Input tax credit has not been taken on the goods contained in the kit. Assume the GST Rate on Laptop is 18%, Laptop bag 28%, Sweet 5%. Empty Box 18%, Hair Oil 18%, Beauty soap 28%, Hair comb 12%. From the above information, compute the GST liability (CGST or SGST or IGST) of Preetam for the month of July, 2024. From the following information determine the time of supply of Service under CGST Act, 2017, assuming that GST is payable under reverse charge mechanism (RCM) in each case : S. No. Date of Invoice issued by supplier Date of Completion of service Date of payment entered in books of recipient Date of payment debited in bank account 1. 23.04.2024 21.04.2024 13.07.2024 15.07.2024 2. 23.04.2024 21.04.2024 24.06.2024 22.06.2024 3. 23.04.2024 21.04.2024 03.06.2024 04.06.2024 4. 23.04.2024 24.04.2024 19.04.2024 18.04.2024 5. 23.04.2024 24.04.2024 Not done Not done

Answer & Explanation:

Answer 6(c) Computation of Time of Supply Sl. No. Date of Payment entered in books Date of Payment debited in bank 61st day from the Issue of Invoice Time of Supply (whichever is earlier) Reason 1. 13.07.2024 15.07.2024 23.06.2024 23.06.2024 Date of payment as entered in the books of account or payment is debited in his bank account or 61st day from the issue of Invoice, whichever is earlier 2. 24.06.2024 22.06.2024 23.06.2024 22.06.2024 Date of payment as entered in the books of account or payment is debited in his bank account or 61st day from the issue of Invoice, whichever is earlier 3. 03.06.2024 04.06.2024 23.06.2024 03.06.2024 Date of payment as entered in the books of account or payment is debited in his bank account or 61st day from the issue of Invoice, whichever is earlier 4. 19.04.2024 18.04.2024 23.06.2024 18.04.2024 Date of payment as entered in the books of account or payment is debited in his bank account or 61st day from the issue of Invoice, whichever is earlier 5. 23.06.2024 23.06.2024 Date of payment as entered in the books of account or payment is debited in his bank account or 61st day from the issue of Invoice, whichever is earlier

Topics: GST

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