M.COM. (Semester IV) Examination Oct/Nov-2017
TAXATION
(Research Methodology)
Day Date: Monday, 20-11-2017 Max. Marks: 50
Time: 02.30 PM to 04.30 PM
Instructions: All questions are compulsory.
All question carry equal marks.
Q.1 Select the correct answer from multiple choice given 10
Service tax was initially levied in India by the constitution vide entry No.
92C of the union list 54 of the State list
92C of the concurrent list 97 of the Union list
Service tax is applicable to.
Whole of India
Whole of India except Jammu and Kashmir
Whole of India, except Jammu and Kashmir and Union Territories of Dadra,
Nagar Haveli, Daman and Diu
Service tax is a charge on:
Taxable service provided
Taxable service to be provided
Taxable service provided or agreed to be provided
Any service provided or agreed to provided
Service tax is not payable if the aggregate value of taxable service does not
exceed:
Rs. 8,00,000 Rs. 10,00,000
Rs. 9,00,000 Rs. 6,00,000
Service tax is not payable on any service provided to:
An undertaking in a free trade zone
An undertaking in a software technological park
An undertaking in a special economic zone even if such services are not
wholly consumed within the special economic zone
A developer or unit in a special economic zone provided such services are
wholly consumed within the Special Economic Zone
The liability of service tax in case payment is received before rendering the
service shall arise on the date of.
Completion of service
Receipt of advance payment
On the date of raising of invoice of the receipt of advance payment
Due date of e-payment of service tax other than for the quarter ending March in
case of partnership firm is:
6th day of the month immediately following each quarter
6th day of the month immediately following the calendar month
None of the above
Page 2 of 3
SLR-CJ-50
Due date of filing return of service tax is:
5th of the month following the particular half-year
15th of the month following the particular half-year
25th of the month following the particular half-year
30th days of the month following the particular half-year
Rate of interest for delayed payment of service tax shall be.
13% p.a.
15% p.a. for small scale sector assessee and 18% p.a. in case of any other
assessee.
15% p.a. for small scale sector assessee and 18% p.a. in case of any other
assessee up to six months
10) if the period of delay of filing service tax return is 94 days, the amount of
penalty shall be:
Rs. 2,000 Rs. 20,000
Rs. 7,400 Rs. 9,400
Q.2 Write short notes on any two from the following: 10
Negative list under Service Tax
Provisions of Service Tax for small service providers
Reverse Charge mechanism under Service Tax
Point of Taxation under Service Tax
Penalties under service tax
Q.3 Explain in brief the provisions for place of provision for performance of services 14
OR
Explain the provisions of registration under Service Tax.
Q.4 Rakesh, a Chartered Accountant, practicing at Delhi provides the service to his
following clients:
14
Audit fees charged Rs.
Service provided to PNB, Delhi 5,80,000
Service provided to J&K bank in Srinagar 4,90,000
Service provided to other clients (located in India
other than
8,70,000
Compute the value of taxable service provided and the amount of service tax
payable. Assume service tax, if applicable, is separately charged in the Bill
14%
Umesh has been providing service is for the last 3 years and the value of both
taxable and non-taxable provided were as under:
Financial year Value of taxable service
provided
Value of non-taxable
Service provided
Rs. Rs.
2012-13 7,40,000 3,20,000
2013-14 14,30,000 6,10,000
2014-15 8,90,000 3,70,000
During the financial year 2015-16, he has provided the following services:
Value of taxable services Value of non taxable services
Rs. 12,14,000 Rs. 3,90,000
Compute his service tax liability in such a manner that he has to pay maximum
tax.
Page 3 of 3
SLR-CJ-50
Q.5 A service has become taxable w.e.f.1.1.2016. Discuss the taxability of the same in
the following situations:
10
Situation Time of issue of
invoice
Amount of
invoice
Rs.
Date amount of receipt
of Payment
Rs.
1 28.12.2015 2,40,000 31.12.2013---Rs. 2,40,000
2 29.12.2015 3,00,000 29.12.2013---Rs. 2,60,000
3 27.12.2015 2,20,000 31.12.2013---Rs. 3,00,000
4 31.12.2015 3,40,000 25.12.2013---Rs. 3,40,000
5 12.01.2016 4,20,000 30.12.2013---Rs. 4,20,000
6 20.01.2016 6,00,000 31.12.2013---Rs. 4,20,000