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MAY 2022Inter

Question 6

Sub-questions (2)

question_6_a6 MarksProblem Solving

XYZ Pvt. Ltd. provided the following particulars relating to goods sold by it to ABC Pvt. Ltd.: ParticularsAmount (₹) List price of the goods (exclusive of taxes and discount)50,000 Tax levied by the Municipal Authority on the sale of such goods6,000 Packing charges (not included in the list price above)2,500 Subsidy received from a NGO, directly linked to price (included in the list price above)3,000 Paid to one of the vendors by ABC Pvt.in relation to the service provided by the vendor to XYZ Pvt. Ltd. (not included in the list price above)2,000 XYZ Pvt. Ltd. offers 2% turnover discount on the list price after reviewing the performance of ABC Pvt. Ltd. The discount was not known at the time of supply. ABC Pvt. Ltd. delayed the payment and paid ₹ 5,000 (including GST of 18%) as interest to XYZ Pvt. Ltd. Determine the value of taxable supply made by XYZ Pvt. Ltd. under GST law.

question_6_b4 MarksShort Answer

Examine whether the following activities would amount to "supply" under GST law? (i) Glory Ltd. is engaged in manufacturing and selling of cosmetic products. Seva Trust, a charitable organisation, approached Glory Ltd. to provide financial assistance for its charitable activities. Glory Ltd. donated a sum of ₹ 2 lakh to Seva Trust with a condition that Seva Trust will place a hoarding at the entrance of the trust premises displaying picture of products sold by Glory Ltd. (ii) Mr. Swamy of Chennai is working as a manager with ABC Bank. He consulted M/s. Jacobs and Company of London and took its advice for buying a residential house in Mumbai and paid them consultancy fee of 200 UK Pound for this import of service.

may_2022_paper_4_taxation — CA Intermediate | Kartavvya