Mock Test Paper - Series II: April, 2025
Date of Paper: 01st April, 2025
Time of Paper: 10 A.M. to 1 P.M.
INTERMEDIATE COURSE: GROUP-I
PAPER – 3: TAXATION
Time Allowed – 3 Hours Maximum Marks – 100
SECTION – A: INCOME TAX LAW (50 MARKS)
Working Notes should form part of the answer. Wherever necessary, suitable assumptions
may be made by the candidates and disclosed by way of a note. However, in answers to
Questions in Division A, working notes are not required.
The relevant assessment year is A.Y.2025-26.
Division A – Multiple Choice Questions
Write the most appropriate answer to each of the following multiple choice questions by
choosing one of the four options given. All questions are compulsory.
1. Ms. Chandni, aged 45 years, provides the following data of her gross receipts for the
financial year 2023-24 and 2024-25. She is engaged in agency business along with
providing services as tarot card reader.
F.Y. Receipts from Receipts from Total Gross
business (`) profession (`) Receipts (`)
2023-24 78,00,000 43,00,000 1,21,00,000
2024-25 85,00,000 47,00,000 1,32,00,000
During the F.Y. 2024-25, she paid an amount of ` 1,20,000 to a contractor for polishing
her old furniture. She has taken services from renowned interior designers for her self-
occupied residential house property for which she paid ` 2,50,000.
Further, on 28.05.2024 she sold one commercial property for ` 50,00,000. The value
adopted for stamp duty was ` 52,00,000. It was purchased for ` 40,00,000 on
28.04.2017. (Cost Inflation Index for F.Y. 2024-25: 363, F.Y. 2017-18: 272).
The brought forward business loss of F.Y. 2020-21 is ` 5,00,000.
During the year, Ms. Chandni incurred a loss of ` 8,30,000 while trading in the
agricultural commodity derivatives (no CTT paid).
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Based on the above information, choose the most appropriate answer of the following
Multiple Choice Questions (MCQs):-
(i) What is the total amount of tax to be deducted by Ms. Chandni for F.Y. 2024-25?
(a) ` 1,200
(b) ` 26,200
(c) Nil
(d) ` 3,700
(ii) What is the amount and nature of Capital gain chargeable to tax in the hands of
Ms. Chandni?
(a) ` 10,00,000 and Short-term capital gain.
(b) ` 12,00,000 and Short-term capital gain.
(c) (` 3,38,235) and Long-term capital loss.
(d) ` 10,00,000 and Long-term capital gain.
(iii) What is the amount of losses which can be carried forward to A.Y. 2026-27 if
Ms. Chandni filed her return of income on 30.11.2025. Assuming there is a
business loss of ` 10,00,000 and income from profession is ` 15,00,000?
(a) ` 15,00,000 under section 72, `8,30,000 under section 73 and
` 3,38,235 under section 74
(b) Nil
(c) ` 8,30,000 under section 73 and `3,38,235 under section 74
(d) ` 8,30,000 under section 72 and ` 3,38,235 under section 74
(3 x 2 = 6 Marks)
2. Mr. Harsh (age 45 years) is appointed as senior executive officer in Ambition India
Limited, Mumbai on 01.02.2024 in the scale of ` 35,000-3500-65,000. He is paid
dearness allowance @40% of salary forming part of retirement benefits.
He is given rent free unfurnished accommodation on 01.5.2024 which he occupied only
from 01.10.2024. The company pays lease rent of ` 5,000 p.m.
He has been provided a car of 2000 cc capacity which is used by him for private
purposes only. The actual cost of the car is ` 8,00,000. The monthly expenditure of car
is ` 5,000, which is fully met by the employer.
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He pays lumpsum premium of ` 1,50,000 towards health insurance for self and his wife
for 48 months on 01.10.2024 by account payee cheque. He also contributes ` 1,50,000
towards PPF.
Based on the above information, choose the most appropriate answer of the following
Multiple Choice Questions (MCQs):-
(i) Value of rent-free accommodation chargeable to tax in the hands of Mr. Harsh,
would be -
(a) ` 21,700
(b) ` 30,380
(c) ` 45,570
(d) ` 30,000
(ii) Mr. Harsh would be eligible for deduction in respect of health insurance premium
paid during the previous year 2024-25, for –
(a) ` 30,000
(b) ` 18,750
(c) ` 25,000
(d) ` 37,500
(iii) Perquisite value of car chargeable to tax in the hands of Mr. Harsh would be –
(a) ` 28,800
(b) ` 21,600
(c) ` 60,000
(d) ` 1,40,000 (3 x 2 = 6 Marks)
3. Ms. Ridhima (age 32 years), an interior decorator, has professional receipts of
` 25,60,000 for the previous year 2024-25. She also earned ` 1,25,000 as dividend
and ` 4,65,000 as interest income on fixed deposits. She incurred expenses of
` 13,00,000 for her profession and ` 30,000 as interest on loan for making investment
in shares on which she received dividend. What would be her total income for the
A.Y. 2025-26, assuming that she wishes to make maximum tax savings without getting
her books of account audited?
(a) ` 18,45,000
(b) ` 18,70,000
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(c) ` 18,40,000
(d) ` 18,25,000 (2 Marks)
4. Arun’s gross total income of P.Y. 2024-25 is ` 2,45,000. He deposits ` 45,000 in PPF.
He pays electricity bills aggregating to ` 1.20 lakhs in the P.Y.2024-25. Which of the
statements is correct?
(a) Arun is not required to file his return of income u/s 139(1) for P.Y. 2024-25,
since his total income before giving effect to deduction under section 80C does
not exceed the basic exemption limit.
(b) Arun is not required to file his return of income u/s 139(1) for P.Y. 2024-25,
since his electricity bills do not exceed ` 2,00,000 for the P.Y.2024-25.
(c) Arun is not required to file his return of income u/s 139(1) for P.Y. 2024-25,
since neither his total income before giving effect to deduction under section
80C exceeds the basic exemption limit nor his electricity bills exceed ` 2 lakh for
the P.Y.2024-25.
(d) Arun is required to file his return of income u/s 139(1) for P.Y. 2024-25, since his
electricity bills exceed ` 1 lakh for the P.Y.2024-25. (1 Mark)
Division B – Descriptive Questions
Question No. 1 is compulsory
Attempt any two questions from the remaining three questions
1. Mr. Vivek is an advocate and furnishes you the receipts and payments account for the
financial year 2024-25.
Receipts and Payments Account
Receipts ` Payments `
Opening Balance 80,000 Staff salary and bonus to 17,50,000
(01.04.2024) Cash & Bank clerks
Fee from legal services 49,60,000 Other general and 22,00,000
administrative expenses
Motor car loan from HDFC 5,00,000 Office rent 1,48,000
@12% p.a. interest
Sale receipts of 5,275 listed 5,95,000 Life Insurance Premium (Sum 49,000
equity shares (sold on Assured ` 5,00,000)
31st March 2025)
Motor car (Acquired in January 9,50,000
2025 by way of NEFT)
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Books bought by way of A/c 80,000
payee cheque in the month of
May, June and September
2024 (annual publications)
Computer acquired on 52,000
1.11.2024 for professional
use (payment made by A/c
payee cheque)
Domestic drawings 6,23,000
Motor car maintenance 72,000
Public Provident Fund 1,50,000
subscription
Closing balances (31.03.2025)
Cash & Bank 61,000
61,35,000 61,35,000
Other information:
(i) Listed equity shares on which STT was paid were acquired in August 2016 for
` 1,21,800. The fair market value of such shares as on 31st January 2018 was
` 80 per share.
(ii) Motor car was put to use for both official and personal purposes.1/3rd of the
motor car is for personal purpose. No interest on car loan was paid during the
previous year 2024-25.
(iii) Mr. Vivek purchased a flat in Jhansi for ` 35,00,000 in July 2016 cost of which
was partly financed by a loan from Punjab National Housing Finance Limited of
` 25,00,000, his own-savings ` 1,00,000 and a deposit from Repco Bank for
` 9,00,000. The flat was given to Repco Bank on lease for 10 years @ ` 35,000
per month. Further, Mr. Vivek has paid the following expenses in respect to the
flat during the P.Y. 2024-25:
(a) Municipal taxes ` 8,200 per annum
(b) House insurance ` 11,000
As per interest certificate issued by Punjab National Housing Finance Limited for
the financial year 2024-25, he paid ` 1,80,000 towards principal and ` 2,01,500
as interest.
(iv) He earned ` 1,20,000 in share speculation business and lost ` 1,80,000 in
commodity speculation business.
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(v) Mr. Vivek received a gift of ` 21,000 each from four of his family friends.
(vi) He contributed ` 1,21,000 to PM Cares Fund by way of bank draft.
(vii) He donated to a registered political party ` 3,50,000 by way of cheque.
(viii) He follows cash system of accounting.
(ix) Cost Inflation Index: F.Y. 2016-17–264; F.Y. 2017-18–272; F.Y. 2024-25–363
You are required to compute the total income and tax liability of Mr. Vivek for the
A.Y. 2025-26 assuming he opts out of the default tax regime under section 115BAC.
(15 Marks)
2. (a) On 22.09.2024, Mr. Prabhjot, aged 55 years, an Indian citizen left India for the
first time to work as a CFO of a company in Australia. He visits South Africa on
vacation every year for a month to visit his brother’s family. He earns the
following income during the previous year 2024-25:
Sr. Particulars (`)
No.
1. Salary (computed) from company in Australia [Received 18,00,000
in bank account in Australia]
2. Dividend from South African company received in South 20,000
Africa
3. Interest received from South Indian Bank, India 21,000
4. Loss from business in South Africa (controlled from India) 45,000
5. Agricultural income from a land situated in Gujarat 45,000
Compute the total income of Mr. Prabhjot for A.Y. 2025-26 if he has opted out of
the default tax regime u/s 115BAC (6 Marks)
(b) Examine & explain the TDS implications in the following cases along with
reasons thereof, assuming that the deductees are residents and having a PAN
which they have duly furnished to the respective deductors.
(i) Mr. Rohit and Mr. Raj are the joint owners of a house property. They sold
the house property on 31.12.2024 for ` 60 lakhs, receiving ` 30 lakhs
each as their respective shares. However, the stamp duty value (SDV) of
the property on the date of transfer is ` 75 lakhs. The property was jointly
purchased by Ms. Shashi and Ms. Sujata.
(ii) XYZ Ltd. provided a luxury car worth ` 15 lakh to its distributor, Mr. A, as
an incentive for achieving high sales targets. (4 Marks)
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3. (a) Mr. Amit, the proprietor of Amit Enterprises, owns two business units. On
1st April 2024, he transferred Bawana unit by way of a slump sale for a total
consideration of ` 75 lakhs. The fair market value of the capital assets of
Bawana unit as on the date of transfer was ` 90 lakhs. Bawana unit was
established in the financial year 2005-06. The expenses incurred for the transfer
amounted to ` 28,000. His Balance Sheet as on 31.3.2024 is as under:
Liabilities Total Assets Bawana Mayapuri Total
unit unit
(`) (`) (`) (`)
Own Capital 45,00,000 Land 36,00,000 6,00,000 42,00,000
Revaluation 9,00,000 Building 9,00,000 3,00,000 12,00,000
Reserve (for
land of Bawana
unit)
Bank loan (70% 6,00,000 Machinery 3,00,000 1,20,000 4,20,000
for Bawana unit)
Trade creditors Other assets
(25% for 4,50,000 4,50,000 1,80,000 6,30,000
Mayapuri unit)
Total 64,50,000 Total 52,50,000 12,00,000 64,50,000
Other Information
- The transfer deed did not assign individual values to any specific assets.
- The value of the building and machinery was taken as per the written-
down value as per the Income-tax Act, 1961.
Compute the Capital Gain for the assessment year 2025-26. (5 Marks)
(b) Mrs. Anjali, a U.S. citizen, is a resident and ordinarily resident in India for the
financial year 2024-25. She owns a house property in Chicago, U.S.A., which
she uses as her residence. The annual value of this property is $ 20,000, with
the exchange rate assumed at ` 75 per USD. In addition, she took ownership
and possession of a flat in Surat on 1st July 2024, which she used for
self-occupation during her stay in India. The flat was occupied by her for seven
months in the financial year. The municipal valuation of the property is
` 3,84,000 per annum, and the fair rent is ` 4,20,000 per annum. She has paid
property tax of ` 16,200 and sewerage tax of ` 1,800 to the Corporation of
Surat.
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For the purchase of the Surat flat, she had taken a loan from Standard
Chartered Bank in June 2022. The interest on the loan amounts to ` 49,200 for
the period before 1st April 2024, `50,800 for the period from 1st April 2024 to
30th June 2024, and ` 1,31,300 for the period from 1st July 2024 to
31st March 2025. Additionally, she owned a house property in Ranchi, which was
sold in March 2023. In respect of this property, she received arrears of rent
amounting to ` 60,000 in March 2025, which had not been previously taxed.
Compute the income chargeable from house property of Mrs. Anjali for the
A.Y. 2025-26 if she has exercised the option of shifting out of the default tax
regime. (5 Marks)
4. (a) Mr. Mayank, aged 65 years, resides in Hyderabad, provides the following
information relating to the financial year ended 31.3.2025.
Particulars `
Pension 6,60,000
Interest from bank on fixed deposits (Gross) 55,000
Income from speculation business 40,000
Long-term capital gains from sale of urban land 2,50,000
Long-term capital loss from sale of listed shares in recognized 1,10,000
stock exchange (STT paid at the time of acquisition and sale of
shares)
Loss from card games 32,000
Income from betting (Gross) 45,000
Other information
i. Life insurance premium paid by cheque ` 22,500 for insurance of his life.
The insurance policy was taken on 08-09-2015 and the sum assured is
` 2,00,000.
ii. Premium of ` 26,000 paid by cheque for health insurance of self and his
wife.
iii. A sum of ` 15,000 donated in cash to an institution approved for the
purpose of section 80G for promoting family planning.
You are required to compute the total income of Mr. Mayank for the A.Y. 2025-26
under normal provisions of the Act. (6 Marks)
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(b) Who is authorized to verify return of income in case of the following assessees:
i. Local authority
ii. Firm, having no managing partner
iii. Foreign Company
iv. HUF where the karta is absent from India (4 Marks)
OR
(b) Enumerate list of circumstances where an updated return u/s 139(8A) cannot be
furnished? (4 Marks)
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SECTION B – GOODS AND SERVICES TAX (50 MARKS)
QUESTIONS
(i) Working Notes should form part of the answers. However, in answers to Questions in
Division A, working notes are not required.
(ii) Wherever necessary, suitable assumptions may be made by the candidates, and
disclosed by way of notes.
(iii) All questions in Section B should be answered on the basis of position of GST law as
amended by Finance (No. 2) Act 2024, which became effective till 31.10.2024, and
significant notifications and circulars issued upto 31.10.2024.
Division A - Multiple Choice Questions (MCQs)
Write the most appropriate answer to each of the following multiple-choice questions by
choosing one of the four options given. All questions are compulsory.
Total Marks: 15 Marks
CASE SCENERIO I
PMC Ltd. has its manufacturing unit in the State of Rajasthan. Further, it has ancillary units in
the State of Madhya Pradesh and Gujarat and is registered in each of these States. Moreover,
PMC Ltd. owns and operates a hotel in Udaipur, Rajasthan.
In addition to the aforesaid, PMC Ltd. owns a commercial space which is rented out to a
registered person at the monthly rent of ` 50,000. The maintenance of the premises is the
responsibility of PMC Ltd. In pursuance of the same, during the month of April, PMC Ltd.
incurred certain expenses on the purchase of maintenance related materials. The said expenses
are recoverable from the tenant alongwith the invoice issued for rent. The rate of tax applicable
on the material used for maintenance was 5%.
During the year, PMC Ltd. agreed to provide the hotel to Mr. X for a business conference to be
held at Udaipur. Mr. X is an unregistered person residing in Maharashtra.
In addition to the aforesaid transactions, PMC Ltd. spent an amount of ` 5 lakh on the
procurement of certain goods which were distributed as part of the corporate social
responsibility [CSR] expenditure required under the provisions of the Companies Act, 2013.
All amounts are exclusive of GST, wherever applicable. The rate of GST on all inward and
outward supplies is 18%, unless otherwise mentioned.
Assume that there is no other outward or inward transaction apart from aforesaid transactions.
Based on the facts of the case scenario given above, choose the most appropriate answer to
Q. Nos. 1 to 3 below:-
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1. For the transaction related to renting of commercial space, what should be the rate of tax
charged by PMC Ltd.?
(a) The rate of GST on rent and maintenance material related recovery shall be 18%.
(b) The rate of GST on rent shall be 18% and, on the material, shall be 5%.
(c) No GST shall be charged on the recovery related to material used in maintenance.
Rate of GST on rent shall be 18%.
(d) The rate of GST on rent and maintenance material related recovery shall be 5%.
2. With respect to the hotel accommodation service provided to Mr. X, GST payable by PMC
Ltd. is ____________.
(a) nil, GST on accommodation service is payable by the recipient, Mr. X, under
reverse charge
(b) nil, GST on accommodation services provided to an unregistered person is
exempt from GST
(c) in the nature of CGST and SGST
(d) in the nature of IGST
3. Which of the following options is correct with regard to the availability of ITC to PMC Ltd.
in respect of GST paid on the procurement of goods meant for the purpose of corporate
social responsibility activity?
(a) The amount of ITC related to such procurement of goods is not available to PMC
Ltd.
(b) The amount of ITC related to such procurement of goods is available to PMC Ltd.
(c) The amount of ITC only to the extent of 50% of amount of such procurement of
goods is available to PMC Ltd.
(d) The amount of ITC shall be available to the registered person to whom such goods
are distributed under CSR activity. (3 X 2 Marks = 6 Marks)
CASE SCENERIO II
Aanya & Co., a partnership firm, is engaged in retail trade since 1st April. The firm became liable
for registration on 1st October. However, it applied for registration on 10th October. It had inputs
held in stock, semi-finished and finished goods. The firm was granted certificate of registration
on 5th November.
Aanya & Co. needs to transport one consignment to the transporter and then to the consignee.
The distance, within the same state, between godown of the firm and the transporter is 20 kms
and from the place of transporter to consignee is 99 kms, respectively.
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All the supplies referred above are intra-State unless specified otherwise. Conditions applicable
for availment of ITC are fulfilled subject to the information given above.
Based on the facts of the case scenario given above, choose the most appropriate answer to
Q. Nos. 4 to 6 below:-
4. Determine the effective date of registration of Aanya & Co.?
(a) 1st April
(b) 1st October
(c) 10th October
(d) 5th November
5. Aanya & Co. is eligible to claim ITC in respect of inputs held in stock as on-
(a) 30th September
(b) 1st October
(c) 10th October
(d) Not eligible to claim ITC
6. Which of the following statements is true in respect of furnishing of details of conveyance
in Part B of e- way bill?
(a) Part B need not be filed in respect of transport of consignment from Godown of
Aanya & Co. to transporter location.
(b) Part B need not be filed in respect of transport of consignment from transporter
location to consignee’s location.
(c) Information in Part-B is neither required in transport of consignment from Godown
of Aanya & Co. to transporter location nor from transporter location to consignee’s
location.
(d) Information in Part-B is mandatory in transport of consignment from Godown of
Aanya & Co. to transporter location and from transporter location to consignee’s
location. (3 X 2 Marks = 6 Marks)
7. M/s. Sahni & Co., a partnership firm imported the following services during
February, 2025:
(i) Architect services from Mr. Vipul, a partner of the firm, who resides in France for
` 1,00,000. The said service was paid but not used for the furtherance of the
business.
(ii) Management consultancy services from Mr. Kishore, a renowned lawyer in
Sydney, who was an ex-employee of the firm. The value of the said service was
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` 3,00,000. Even though it was used in the furtherance of the business, no
consideration was paid by the firm.
Compute the amount of import of services by Sahni & Co. that will be treated as supply.
(a) Nil
(b) `1,00,000
(c) `3,00,000
(d) `4,00,000 (2 Marks)
8. Mr. Animesh, a sole proprietor generated E-Challan on 5th December for payment of
taxes for the month of November. This E-Challan will be valid only upto:
(a) 5th December
(b) 15th December
(c) 20th December
(d) 31st December (1 Mark)
Division B - Descriptive Questions
Question No. 1 is compulsory.
Attempt any two questions out of remaining three questions.
Total Marks:35 Marks
1. (a) Amaze Ltd., Delhi, a registered supplier, manufacturing machineries has made a
taxable supply of machinery during the month of March. It furnished the following
details for each such machinery supplied: -
S. Particulars Amount
No. (`)
(i) List price of machinery (exclusive of taxes) 10,00,000
(ii) Subsidy received from the Central Government for supply 2,10,000
of machinery to Government School (exclusively related to
supply of machinery included at S. No. 1)
(iii) Subsidy received from an NGO for supply of machinery to 2,00,000
an old age home (exclusively related to supply of goods
included at S. No. 1)
(iv) Tax levied by Municipal Authority 2,50,000
(v) Packing charges 1,25,000
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Additional information:-
The list price of the machinery is after considering the two subsidies received.
However, the other charges/taxes/fee are charged to the customers over and
above the list price.
Further, the company has provided the following information pertaining to GST
paid on purchases made/services availed by it in respect of supply of said
machinery during the month of March:
(i) Raw material (to be received in the month of April) ` 8,50,000
(ii) Membership of a club availed for employees working in the factory
(not obligatory to be provided under any law) ` 4,00,000
(iii) Inputs to be received in 6 lots, out of which 1st lot was received
during the month ` 3,50,000
(iv) Trucks used for transport of raw material ` 1,50,000
(v) Capital goods (out of 3 items, invoice for 2 items is missing and
GST paid on those items is ` 2,82,000): ` 3,50,000
Note:
(i) Rates of CGST, SGST and IGST are 9%, 9% and 18% respectively.
(ii) All inward and outward supplies are exclusive of taxes, wherever
applicable.
(iii) All the conditions necessary for availing the ITC have been fulfilled, subject
to the information given above.
(iv) All inward and outward supplies are inter-State supplies.
Compute the net GST payable in cash, by Amaze Ltd. for the month of March.
(b) Strap Ltd., a registered supplier, has supplied machinery to Defend Ltd. (a supplier
registered in the same State). It provides following particulars regarding the same:
S. Particulars Amount
No. (`)
(i) Price of machinery (exclusive of taxes and discounts) 5,50,000
(ii) Part fitted in the machinery at the premises of Defend Ltd. 20,000
[Amount has been paid by Defend Ltd. directly to the
supplier. However, it was Strap Ltd.’s liability to pay the
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said amount. The said amount has not been recorded in
the invoice issued by Strap Ltd.]
(iii) Installation and testing charges for machinery, not 25,000
included in price
(iv) Discount @ 2% on price of the machinery mentioned at
S. No. (i) above (recorded in the invoice)
(v) Strap Ltd. provides additional discount @ 1% at year end,
based on additional purchase of other machinery for
which adjustment is made at the end of the financial year
without any change in individual transactions.
Determine the value of taxable supply made by Strap Ltd. to Defend Ltd.
(5 Marks)
2. (a) Examine whether the activity of import of service in the following independent
cases would amount to supply under section 7 of CGST Act, 2017:
(i) Miss Shanaya received interior decoration services for her residence
located at Bandra, Mumbai from her brother, Mr. David residing in Sydney
(Australia) [wholly dependent on Miss Shanaya]. Further, Miss Shanaya
did not pay any consideration for the said service.
(ii) Will your answer change if in the above case, if Miss Shanaya has taken
interior decoration services with regard to her business premises and not
her residence? (5 Marks)
(b) Briefly examine the taxable value of supply in the following independent cases:
(i) Rangi Transporters, a registered Goods Transport Agency (GTA) provided
service of transportation of goods to Taneja & Taneja Co.-a unregistered
partnership firm. Taneja & Taneja Co. paid ` 8,000 to Rangi Transporters
as consideration.
(ii) Ameyash Hospital provided services in Sky Natal Intensive Care for 2 days
for which ` 12,000 are charged per day from Mr. Chaman for his new born
son, Rohit. (5 Marks)
3. (a) Determine the time of supply in the following cases:
(i) GPT & Co. carried out service of cleaning and repairs of tanks in an
apartment complex, for which the Apartment Owners’ Association showed
a payment in cash on 4th April to them against work of this description. The
dates of the work are not clear from the records of GPT & Co. GPT & Co.
have not issued invoice or entered the payment in its books of account.
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(ii) Gas is supplied by a pipeline to the recipient. The supply is to be made for
a period of one year. Monthly payments are to be made by the recipient
as per the contract. The Payments of ` 2 lakh made in each month were
made on July 5, August 5 and September 5 respectively. (5 Marks)
(b) Examine whether the liability to register compulsorily under section 24 of the
CGST Act, 2017 arises in each of the independent cases mentioned below:
(i) Sunena, a supplier in Maharashtra, is exclusively engaged in supply of
potatoes produced out of cultivation of her own land, within Maharashtra
and also outside Maharashtra.
(ii) Fenil is working as an agent, he is supplying taxable goods as an agent of
Anthony (who is registered taxable person) and its aggregate turnover does
not exceed the applicable threshold limit during the financial year. Invoices
to customers are issued in name of Fenil. (5 Marks)
4. (a) M/s SME & Co. have defaulted in filing the return under Section 39 of the CGST
Act, 2017 i.e. GSTR-3B for the month of March within the specified due date.
Reason for such delay is attributable to delay in closure of books for March, which
have been finalised during May. The GST Common portal prompted for payment
of late fees payable under Section 47 of the CGST Act, 2017 for a sum of ` 2,000
under CGST and SGST each. Accountant, of M/s SME & Co., sought your
confirmation for payment of such late fees through the balance available in
Electronic Credit Ledger. Give your guidance in this regard. (5 Marks)
Or
(a) Which accounts and records are required to be maintained by a registered
person? (5 Marks)
(b) (i) List the details of outward supplies which can be furnished using Invoice
Furnishing Facility (IFF). (2 Marks)
(ii) Which are the commodities which have been kept outside the purview of
GST? Examine the status of taxation of such commodities after introduction
of GST. (3 Marks)
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