Indirect Tax Laws - May 2022

Supermarket is a proprietary firm and a GST registered supplier in Ahmedabad, Gujarat. The details of supplies, purchases and expenses for the month of December 2021 of Supermarket are as given below: Particulars Amount (9 Details of outward supplies: (i) — Intra-State 45,00,000 (ii) Inter-State 15,00,000 (ili) Exempt supplies under GST 6,00,000 Details of inward supplies: (i) Intra-State 40,00,000 (ii) Inter-State 10,00,000 (ili) Exempt supplies under GST 5,00,000 Details of expenses: (i) Freight paid to GTA for intra-State transportation of…

(a) M/s A2Z, a proprietary firm registered under GST, is engaged in providing various services under one roof. The firm provides the following information pertaining to supplies made/input services availed by it during the month of March, 2022: S. | Particulars Amount No. @ 1. | Amount collected for loading, unloading, packing and 15,000 warehousing of potato chips 2. | Fees paid for yoga camp conducted by a charitable trust 20,000 registered under section 12AA of the Income-tax Act, 1961…

(a) In the case of transactions at (i) and (ii) below, determine whether the amounts received are liable to GST. Briefly explain the applicable statutory provisions in support of your conclusions. (i) ABC Ltd., a registered bank, recovered cheque discounting charges of # 5,250 from a customer, C & Co. (2 Marks) (ii) T Ltd., a dealer in air-conditioners, supplies each unit at a list price of = 30,000 per unit. He also has an EMI scheme where the customer…

Agni Limited filed GST return (under section 39) for the month of January 2021 on 11% April 2021. Original due date for the said return was 20" February 2021. Details of tax assessed as payable for the said month are given below: Particulars CGST (9) SGST (%) Output tax payable 1,80,000 1,80,000 Tax payable under reverse charge 40,000 40,000 Input tax credit available for utilization 70,000 70,000 (i) | Compute the net tax payable in cash while filing the said…

(a) On scrutiny of returns filed by Chandan & Co., the Department found some discrepancy in ITC claimed by the company and consequently a Departmental audit was conducted under section 65 of the CGST Act. On conclusion of the audit in February, the Department issued a Show Cause Notice (SCN) alleging that the company had wrongly and deliberately claimed ITC in the returns without actual receipt of goods for the month of January. The Joint Commissioner of Central Tax, not…

(a) Enumerate the suppliers to whom the Dynamic Quick Response (QR) code is not applicable when they issue an invoice to an unregistered person. (4 Marks) With reference to section 90 of the CGST Act, 2017, briefly discuss the liability of the partners of a firm to pay tax. (b) List the safeguards provided in section 67 of the CGST Act, 2017 in respect of the power of search or seizure. (5 Marks) (c) Distinguish between Advance Authorization and DFIA…