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B.COM SEMESTER V
Taxation – II
S. No. Chapters Page. No.

MODULE – I : Direct Tax
1 ADVANCE TAX 1–3
2 FIRM ASSESSMENT 4–8
3 INTEREST 9 – 11
MODULE – II : Indirect Tax
4 COMPUTATION OF GST 12 – 14
5 INPUT TAX CREDIT 15 – 16
6 TIME OF SUPPLY 17 – 18
7 COMPUTATION OF GST 19 – 21
8 CUSTOM DUTY 22 – 25
Rahul Singh
M.com , B.Ed. , CMA (Inter),
B.com (Hons) Rank Holder
8+ Years of Experience
RAHUL SINGH | 8777203495
ADVANCE TAX
1. Find out the amount of advance Tax payable by Mr. Kardata on specified dates under the Income Tax
Act 1961, for the financial year 2022-23:
Tax Payable (including HEC) ₹ 18,540
Tax deducted at source:
Case 1 ₹ 13,600
Case 2 ₹ 3,540
[Ans: Total Advance Tax Payable : Case 1 - 4,940; Case 2 - 15,000]
2. Find out the amount of advance tax payable by Mr. A on specified dates under the Income tax Act,
1961 for the financial year 2022-23:
Business Income ₹ 4,85,000

Long term capital gain on 31.5.2022 ₹ 60,000
Winning from lotteries on 12.6.2022 ₹ 50,000
Interest on loan ₹ 10,000
Other income ₹ 5,000
Investment in PPF ₹ 10,000
Tax deducted at source:
Case 1 ₹ 38,000
Case 2 ₹ 15,000
[Ans: Total Income - ₹ 6,00,000; Advance Tax Payable : Case 1 - ₹ 2,560; Case 2 - ₹ 25,560.]
3. Find out the amount of advance Tax payable by Tamal under the Income Tax Act 1961, for the
financial year 2022-23:
Income from business ₹ 3,35,000
Long term capital gain on 10-04-2022 ₹ 30,000
Income from other sources ₹ 10,000
Tax deducted at source ₹ 4,000
[Ans: Gross Total Income – ₹ 3,75,000; Total Income – ₹ 3,75,000.]
4. From the following information find out the amount of advance tax payable by Suhani on specified
date for the previous year 2022-23:
Other Income ₹ 35,000
[Ans: Advance Tax to be paid – ₹ 18,000]
5. Find out the amount of advance tax payable by A on specified dates for the financial year 2022-23:
Business Income (Tax of ₹ 4,704 is deducted at source) ₹ 5,11,000

Agricultural Income ₹ 86,000
[Ans: Advance Tax Payable – ₹ 24,000]

6. Mr. Sen furnished the following information for the previous year 2022-23:
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Income from Salary ₹ 8,65,000

Income from House Property ₹ 2,35,000
Income from bank fixed deposit ₹ 25,000
Deduction u/s 80C ₹ 1,50,000
Deduction u/s 80D ₹ 20,000
Compute the advance tax payable by Mr. Sen and also compute the amount of advance tax payable
along with the due dates of payment of instalment.
[Ans: Total Income – ₹ 9,55,000; Advance Tax Payable – ₹ 42,640.]
7. The estimated income of Sri Mukul Ghosh a resident individual (age 55 years) for the previous year
2022-23 are as follows:
Income from Let out House Property (computed) ₹ 42,500

Income from business ₹ 5,45,000
Income from other sources ₹ 1,25,500
He is entitled to a deduction u/s 80C for ₹ 51,500 and u/s 80G for ₹ 7,500. Tax deduction at source is
₹ 7,332.
Calculate the amount of advance tax payable by Sri Mukul Ghosh showing details of all instalments
along with due dates.
[Ans: Total Income – ₹ 6,54,000; Advance Tax Payable – ₹ 37,700]
8. The estimated income of Mr. A.K. Mukherjee (age 54 years) a resident individual, for the year 2023-24
are as follows:
Income from House Property ₹ 59,500
Income from profession ₹ 7,63,000
Mr. Mukherjee is entitled to deduction under section 80C and 80G amounting to ₹ 72,100 and
₹ 10,500 respectively. Tax deducted at source during the year is ₹ 10,325. Calculate the amount of
advance tax payable by Mr. Mukherjee.
[Ans: Gross Total Income – ₹ 8,58,200; Total Income – ₹ 7,75,600.]
9. From the following information, compute the amount of advance tax payable by Mr. Rohit Sharma on
specified dates as per Income Tax Act for the assessment year 2023-24:
Tax payable (including Health and Education Cess ₹ 40,560
Tax deduction at source:
Situation – I ₹ 35,000
Situation – II ₹ 20,560
[Ans: Advance Tax Payable : Situation I – ₹ 5,560, Situation II – ₹ 20,000.]

10. The estimated income of Mr. Gourab Ghosh (age 51 years) during the previous year 2022-23 is as
under:
Loss from self-occupied house ₹ 16,000
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As in last year, expected investment in PPF is ₹ 12,000. Tax deduction at source is estimated to be
₹ 15,350.
Compute the advance tax and the instalments payable on different dates.
11. From the following information, Compute the amount of advance tax payable by Mr. Ganguly on
specified dates as per Income Tax Act for the Assessment Year 2023-24.
Gross Salary ₹ 6,50,000

Deduction u/s 80C ₹ 1,50,000
Tax deduction at source ₹ 12,000

12. Mrs. Fatema (resident of India aged 64 years) furnishes the following particulars for the year ended
March 31, 2023.
Total income excluding lottery income : ₹ 15,10,000.
Lottery income received during April 2022 : ₹ 63,000 net of tax @ 30%
Tax deduction at source (including TDS on lottery income) during the year is ₹ 51,600
Compute the instalments along with the dates of advance tax payable.
[Ans: Total Income – ₹ 16,00,000; Advance Tax Payable – ₹ 2,50,000.]
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FIRM ASSESSMENT
1. Uttar and Dakshin, partners of P.P. Traders, furnishes the following details:
Profit and Loss Account for the year ended 31-3-2019
Particulars Amount (₹) Particulars Amount (₹)

Cost of Goods Sold 3,00,000 Sales 13,00,000
Bonus paid to employee 50,000 Interest on Drawings :
Interest on loan taken from bank 45,000 Uttar 2,000
Other Expenses 40,000 Dakshin 3,000
Salary to Partners :
Uttar 2,44,000
Dakshin 4,88,000
Interest on capital @15% :
Uttar 4,500
Dakshin 6,000
Depreciation 40,000
Net Profit 87,500
13,05,000 13,05,000
Additional information:
i) Depreciation for the year allowed u/s 32 is ₹ 30,000.
ii) During the last year, firm has incurred loss of ₹ 8,50,000 (which includes unabsorbed depreciation
of ₹ 50,000).
iii) Interest on loan taken from bank is yet to be paid.
Compute Total Income of the firm.
2. A and B are partners of AB & Co., a registered professional firm, sharing profit and loss equally. Their
income and expenditure account for the year ended 31-3-2023 is given below:

To Salaries 75,000 By Consultancy fees 3,30,000
To Depreciation 20,000 By Bank interest 14,000
To Office expenses 58,000
To Rent 12,000
To Provision for Bad Debt 5,000
To Salary to A 54,000
To Salary to B 72,000
To Commission to B 9,000
To Interest on capital @20% p.a. :
A 8,000
B 7,000
To share of profit :
A 12,000
B 12,000
3,44,000 3,44,000
a) Office expenses include penalty to customs ₹ 5,000.
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b) Depreciation as per Income-tax Rule ₹ 17,000.

Compute the total income of the firm and allocate the income for the purpose of tax assessment of
each partner.
[Ans: Book Profit – ₹ 1,64,000; Total Income – ₹ 43,000]
3. X , Y and Z are partner in the firm which is assessed as a firm. They share profit and losses in the ratio
of 3 : 2 : 1. The firm’s Profit and Loss Account for the year ended 31st March 2023 is given below:
Particulars Amount Particulars Amount

To Salary to Partners : By Gross Profit 4,00,000
X 1,00,000 By Interest on bank deposit 50,000
Y 60,000
Z 40,000
To Interest on Partner’s Capital
@ 15% :
X 30,000
Y 20,000
Z 10,000
To Depreciation 32,000
To Sundry Business Expenses 1,20,000
To Net Profit 38,000
4,50,000 4,50,000
Other information:
i) Depreciation as per IT rules ₹ 40,000.
ii) Sundry business expenses include fines of ₹ 5,000 paid to custom authority.
Compute total income of the firm for the assessment year 2019-20.
[Ans: Book Profit – ₹ 1,97,000; Total Income – ₹ 69,700]
4. Subhajit and Sutirtha are partners in a firm which is assessed as a firm. They share profits and losses
equally. The firm’s Profit & Loss Account for the year ended 31-03-2023 is given below:

To Office Expenses 35,000 By Gross Profit 2,85,000
To Provident Fund 5,000 By Bank Interest from fixed 40,000
To Depreciation 30,000 deposit
To Salary to Partners :
Subhajit 1,00,000
Sutirtha 90,000
@ 15% :
Subhajit 30,000
Sutirtha 15,000
To Net Profit :
Subhajit 10,000
Sutirtha 10,000
3,25,000 3,25,000
Other Information:
Page | 5
i) Office expenses including penalty to customs authority ₹ 10,000.

ii) Depreciation as per Income Tax Rule ₹ 24,000.
iii) Income from other sources of Subhajit and Sitirtha are ₹ 15,000 and ₹ 10,000 respectively.
You are required to compute for the assessment year 2023-24:
(a) Book Profit of the firm;
(b) Total income of the firm;
(c) Tax liability of the firm.
[Ans: Book Profit – ₹ 2,00,000; Total Income – ₹ 60,000; Tax liability – ₹ 18,720]
5. The profit and loss account of the firm of M/s. P & Q sharing profits and losses in the ratio of 3 : 2 for
the previous year ending 31st March, 2023 is given below:

To Cost of goods sold 4,36,000 By Sales 7,60,000
To Remuneration to employees 1,26,000 By Interest of Drawings :
To Remuneration to partners 2,40,000 P 8,000
To Other expenses 88,000 Q 8,000
To Depreciation 10,000 By Interest (gross) 24,000
To Interest to partner’s capital @ By Long-term capital gain 1,52,000
16% p.a. :
P 16,000
Q 16,000
9,52,000 9,52,000
a) The firm fulfils all the conditions u/s 184 and 40(b).
b) Other expenses including the following:
i) ₹ 24,000 paid in cash to a supplier who refused to accept payment by cheque.
ii) Donation to recognised charitable institution ₹ 6,000 and to a recognised political party
₹ 12,000.
iii) Depreciation as per IT rules ₹ 15,000.
c) Long-term capital gain represent gain on sale of land and computed as per provision of IT Act.
d) Other incomes of the partners – P : ₹ 88,000 ; Q : ₹ 68,800.
You are required to compute for the assessment year 2023-24:
(i) Total income of the firm
(ii) Tax liability of the firm.
[Ans: Book Profit – ₹ 1,29,000; Total Income – ₹ 1,40,000; Tax liability – ₹ 29,120]
6. P and Q are partners of a firm sharing profits and losses in the ratio of 3 : 2. The firm satisfies all the
conditions of section 184 and 40(b). The profit and loss account of the firm for the year ended March
31, 2023 shows net profit of ₹ 19,28,000.
Debit items include the following:
(a) Interest on Partners' capital @ 20% p.a. : P – ₹ 48,000 ; Q – ₹ 40,000.
(b) Partners' Remuneration : P – ₹ 2,60,000 ; Q – ₹ 3,36,000.
(c) Donation to an approved charitable institution ₹ 8,800.
(d) Office expenses ₹ 50,000.
(e) Depreciation ₹ 55,000.
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Credit items including the following:

(a) Interest on partners' drawings : P – ₹ 5,480 ; Q – ₹ 4,000.
(b) Long term capital gain on sale of land calculated as per section 48 – ₹ 94,280.
Other information:
(i) Depreciation as per IT rules ₹ 60,000.
(ii) Office expenses include fines paid to customs authorities ₹ 10,000.
Compute total income and tax liability of the firm for the assessment year 2023-24.
[Ans: Book Profit – ₹ 24,78,720; Total Income – ₹ 19,72,600]
7. X , Y and Z are partners in a firm which is assessed as a firm. They share profit and losses in the ratio
of 3 : 2 : 1. The firm’s Profit and Loss Account for the year ended 31.03.2023 is given below:

To Salary to Partners : By Gross Profit 5,00,000
X 1,00,000 By Interest on bank deposit 70,000
Y 60,000
Z 40,000
@ 15% :
X 30,000
Y 20,000
Z 10,000
To Depreciation 2,20,000
To Sundry expenses 50,000
5,70,000 5,70,000
Other information:
i) Depreciation as per IT rules ₹ 2,30,000.
ii) Sundry expenses include fines of ₹ 7,000 paid to custom authority.
For the assessment year 2023-24, Compute –
(a) Total income of the firm.
(b) Tax liability of the firm.
[Ans: Book Profit – ₹ 1,79,000; Total Income – ₹ 87,900; Tax Liability – ₹ 27,420]
8. The Profit and Loss Account of the firm for the year ended 31.03.2023 is given below. In the firm X , Y
and Z are equal partners.

To Bonus to Z 30,000 By Gross Profit b/d 2,50,000
To Salary to Partners : By Bank Interest 15,000
X 50,000 By Profit on Sale of land 42,500
Y 25,000 75,000 (computed long term capital gain)
To Commission to Z 15,000
To Interest on Capital @ 15% :
X 11,500
Y 8,000
Z 3,000 22,500
To Sundry expenses 50,000
To Net Profit 1,15,000
Page | 7
3,07,500 3,07,500
Compute total income and tax liability of the firm for the Assessment Year 2023-24 after considering
the followings:
(a) Sundry expenses include ₹ 1,000 being the payment made for income tax liability of the firm.
(b) Deduction u/s 80G ₹ 10,000.
[Ans: Book Profit – ₹ 1,93,000; Total Income – ₹ 1,20,500; Tax Liability – ₹ 31,900]
9. P and Q are partners of a firm sharing profits and losses in the ratio of 3 : 2. The profit and loss
account of the firm for the year ended March 31, 2023 is as follows:

To Salary to Partners : By Gross Profit b/d 2,09,730
P 72,000 By Interest from bank fixed
Q 21,000 deposits 14,370
To Interest on Capital @ 20% :
P 24,000
Q 13,200
To Commission to Q 15,000
To Trade expenses 27,000
To Depreciation 30,000
2,24,100 2,24,100
Compute total income and tax liability of the firm considering the following:
(a) The firm satisfies the conditions of section 184 and 40(b);
(b) Trade expenses include ₹ 5,250 being the amount paid as penalty for violation of custom's
regulation.
(c) Depreciation as per I.T. Rules amounts to ₹ 48,000.
[Ans: Book Profit – ₹ 1,17,660; Total Income – ₹ 24,030; Tax Liability – ₹ 7,500]
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INTEREST
1. A firm made the following payments of advance tax during the financial year 2022-23:
₹ in lakh
September 15, 2022 7.00
December 15, 2022 7.75
March 15, 2023 10.75
-----------
25.50
-----------
The return of income is filed on 31.7.2023 showing –
Business income ₹ 80 lakh
Long term capital gain taxable @ 20% (as on 1.12.2022) ₹ 10 lakh
Computation of tax liability for A.Y. 2023-24.
[Ans: Total Interest Payable u/s 234C – ₹ 42,058]
2. In case of Ms Laxmi, you are required to compute the interest u/s 234A , 234B and 234C from the
following details –
Tax on total income ₹ 1,00,000; Due date for filing the return 31.10.2023; Actual date of filing the
return 1.11.2023 and tax paid on 1.11.2023 ₹ 1,00,000.
[Ans: Interest Payable u/s : 234A – ₹ 1,000 ; 234B – ₹ 8,000 ; 234C – ₹ 5,050 , Total Interest Payable –
₹ 14,050]
3. The following particulars are furnished by Ms. Madhuri for the financial year 2022-23:
Tax on total income (paid on 31.7.2023) ₹ 50,000.
Date of filing the return 1.8.2023
Due date for filing the return 31.7.2023
Compute the total interest payable under sections 234A , 234B & 234C.
[Ans: Total Interest Payable – ₹ 4,525]
4. Prof. Subrata Sarkar (aged 43 years) submitted his return of income on November 15, 2022 (due date:
July 31, 2022) showing total income of ₹ 6,75,000 for the assessment year 2022-23. Assessment is
completed on February 22, 2022 on income of ₹ 7,20,000. The particulars of payment of taxes are as
follows:
₹
Payment of advance tax 30,000
Tax deducted at source 20,500
Payment of self – assessment tax u/s 140A 20,570
Calculate interest under section 234A.
[Ans: Interest Payable u/s 234A – ₹ 328]
5. Sunu submits his return of income on 21st December, 2019 (due date: September 30, 2019) for the
assessment year 2022-2023. Income declared and assessed ₹ 16,35,000. He paid advance tax of
₹ 2,04,000. Calculating the amount of interest payable under section 234A. (Tax including cess on
assessed income of ₹ 16,35,000 : ₹ 3,15,120).
[Ans: Interest Payable – ₹ 2,222]
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6. The following particular are furnished by Mr. Late Latif for the financial year 2018-19:
Tax payable on assessed income ₹ 2,06,700

Advance tax paid ₹ 1,68,000
Due date of return 31/07/2019
Date of assessment order 23/12/2019
Compute the interest payable under section 234B.
[Ans: Interest Payable u/s 234B – ₹ 1,980]
7. From the following information find out the amount of interest payable under section 234A.
a) Due date of filing return – 31st July, 2022
b) Date of filing return – December 15, 2022
c) Tax on assessed income – ₹ 25,000
d) Advance tax paid during the financial year 2021-22 ₹ 15,000
e) Tax deducted at source during the year 2021-22 ₹ 1,000
f) Self-assessment tax paid u/s 140A – ₹ 5,000
g) Date of payment of self-assessment tax October 10, 2022
8. From the following information, compute the interest u/s 234A :

Tax on total income – ₹ 1,00,000 ; Due date of filing return : 31-7-2022 ; Actual date of filing the return
: 10-9-2019 ; Tax paid on 31-7-2022 – ₹ 1,00,000.
[Ans: Interest would not be payable in a case where tax has been deposited prior to due date of filing
return even If the return of income is filed after the due date of furnishing return. However, fee u/s
234F is applicable]
9. The following particulars are furnished by Mr. Rohit Agarwal for the financial year 2022-23:
a) Due date of filing return 31.07.2023
b) Date of filing return 01.12.2023
c) Tax payable on assessed income of ₹ 8,00,000 ₹ 75,000
d) Tax deducted at source ₹ 15,000
e) Advance tax paid ₹ 40,000
Compute interest and fee payable u/s 234A and 234F.
[Ans: Interest Payable u/s : 234A – ₹ 1,000 , Since his income exceeds ₹ 5,00,000, hence fee of ₹ 5,000
is payable u/s 234F.]
10. Kausik filed his return of income for A.Y. 2023-24 on 08.10.23 (Due date of submission of return
31.07.23) showing income of ₹ 9,50,000.
Compute amount of interest and fees payable by Kausik for delayed submission of return.
[Ans: Interest Payable u/s : 234A – ₹ 3,198 , Since his income exceeds ₹ 5,00,000, hence fee of ₹ 5,000
is payable u/s 234F.]
11. During the P.Y. 2021-22 Mr. Rajput Singh has paid advance tax of ₹ 15,200. He has submitted his
return of income tax for the said year on June 15, 2023 showing total income of ₹ 6,40,000. During
this year tax of ₹ 3,500 has been deducted at source. If assessment is completed on Dec. 13, 2023,
calculate the amount of interest payable u/s 234B.
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[Ans: Interest Payable u/s 234B – ₹ 2,106]

12. From the following information, compute interest payable u/s 234A:
Due date of submission of return 31.07.2023
Return actually submitted 15.09.2023
Tax payable ₹ 85,000
13. From the following information, compute interest payable u/s 234A:
a) Due date of filing return – 31.07.2022
b) Date of filing return – 25.01.2020
c) Tax on assessed income – ₹ 80,000
d) Advance tax paid – ₹ 30,000
e) Self-assessment tax paid on 20.01.2020 – ₹ 10,000
[Ans: Interest Payable u/s 234A – ₹ 2,500]
14. From the following information, calculate interest payable u/s 234A:
Due date of submission of return 31.07.2023
Return actually submitted 15.10.2023
Tax payable ₹ 1,54,600
Tax deducted at source ₹ 1,12,300
[Ans: Interest Payable u/s 234A – ₹ 1,296]
15. Mr. Goswami submitted his return on 25th July, 2023 for the assessment year 2023-24. The following
particulars are furnished by him for the previous year 2022-23:
₹
Tax payable on assessed income 1,03,950
Tax deducted at source 36,450
Advance taxes paid as under:
15th June, 2022 Nil
th
15 September, 2022 18,500
15th December, 2022 16,125
th
15 March, 2023 25,50
You are required to compute the interest, if any, payable by the assessee.
[Ans: Interest Payable u/s : 234B – ₹ 304 , 234C – ₹ 1,213]
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COMPUTATION OF GST
1. The following are details of furnished by Mr. G a registered person find GST payable:
• Purchased input inter state ₹ 5,00,000 + 12%
• Hired service intra state of 3,00,000 on which RCM applicable @ 18%
• Sundry expenditure ₹ 1,00,000
• Profit ₹ 3,00,000
Calculate the amount of GST payable @ 18% if all supply made interstate
[Ans: GST Payable : CGST & SGST – NIL, IGST – ₹ 1,02,000; Tax Value of Supply – ₹ 12,00,000.]
2. The following are details of furnished by Mr. J a registered person under composite scheme find GST
payable:
• Purchased input intra state ₹ 4,00,000 + 12%
• Packing material purchased intra state ₹ 1,00,000 + 5% GST
• Capital goods purchased intra state for ₹ 5,00,000 + 18% GST [Depreciation 10%]
• Profit ₹ 1,00,000
Calculate the amount of GST payable if rate of GST on the product @ 18% if all supply made
intrastate. Assume CGST rate under composite scheme is 0.5%
[Ans: GST Payable : CGST & SGST – ₹ 4,060.]
3. The following are details of furnished by Mr. E a registered manufacturer under WBGST Act, 2017 find
GST payable:
• Purchased input from a composite scheme dealer ₹ 2,00,000 (applicable GST rate is 12%)
composite dealer paid GST 1%
• Purchased sundry material from local dealer ₹ 1,00,000 + 5%. [20% lying in stock]
• Hired several input service of ₹ 2,00,000 + IGST 18%
• 2nd hand machinery purchased locally for 2,00,000 + 12% GST. Rate of Depreciation @ 20%.
• Profit margin 10% on cost.
• Entire goods sold interstate
• Applicable GST rate is 18%.
• Sundry expenses ₹ 44,120.
Calculate the amount of GST payable.
[Ans: GST Payable : CGST & SGST – NIL, IGST – ₹ 46,696; Taxable Value of Supply – ₹ 6,20,532.]
4. The following are details of furnished by Mr. I a registered person find GST payable:
• Packing material purchased intra state ₹ 40000 + 5% GST
• Profit ₹ 1,00,000.
• Apart, packing charges ₹ 50,000 separately recovered from customer.
• Local taxes charged ₹ 10,000.
• Purchased input intra state ₹ 100000 + 12%
Calculate the amount of GST payable @ 18% if all supply made intrastate
[Ans: GST Payable : CGST & SGST – ₹ 25,400; Taxable Value of Supply – ₹ 3,00,000]
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5. The following are details of furnished by Mr. H a registered person find GST payable:
• Purchased input inter-state ₹ 5,00,000 + 12%, out of such IP 10% input lost abnormally, 5% input is
lost normally, 20% input is lying in stock
• Purchased sundry material inter-state of ₹ 1,00,000 + GST 18% (half of which is not eligible for ITC)
• Sundry expenditure ₹ 21,00,000.
• 20% of output distributed as free sample
• Profit ₹ 3,00,000.
Calculate the amount of GST payable @ 18% if all supply made interstate
[Ans: GST Payable : IGST – ₹ 84,096; Taxable Value of Supply – ₹ 7,47,200]
6. Following details are furnished by Mr. F, a registered manufacturer under UPGST Act, 2017, for
finding GST payable:
• Purchased input from WB ₹ 4,00,000 + 12%
• Purchased input from UP ₹ 1,00,000 from a composite scheme person
• Purchased input locally from an unregistered dealer who is not liable to GST ₹ 1,00,000 (assume
sec.9(4) is not applicable)
• Imported IP of ₹ 5,00,000 (inclusive of IGST ₹ 40,000 and BCD ₹ 50,000)
• Processing expenditure ₹ 3,40,000
• 20% of output distributed as free sample
• Profit margin 10% on cost and all sale made in UP itself.
[Ans: GST Payable : CGST – ₹ 40,480, SGST – ₹ 1,10,880, IGST – NIL; Tax Value of Supply – ₹
12,32,000.]
7. The following are details of purchases, sales etc. effected by Mr. A registered manufacturer under
CGST Act, 2017:
• Purchased Raw Material 'A' from local dealer ₹ 1,05,000 (inclusive of GST @ 5%).
• Purchased Raw Material 'B' from local dealer ₹ 67,200 (inclusive of GST @ 12%).
• Purchased capital goods within the state to be used in manufacture of the taxable goods
₹ 2,24,000 (inclusive of GST 12%). Depreciation @ 15% to be charged.
• Others Direct and Indirect expenses ₹ 80,000.
• Profit margin 10% on total cost.
• During the month only 80% production is sold within the state and applicable GST rate being 18%.
Calculate the amount of CGST and SGST payable.
[Ans: GST Payable : CGST & SGST – ₹ 3,284; Taxable Value of Supply – ₹ 2,37,600]
8. The following are details of purchases, sales etc. in month of April 2019effected by Mr. B a registered
manufacturer under WBGST Act, 2017:
• Purchased Raw material 'A' interstate ₹ 2,00,000 (excluding GST @ 18%).
• Purchased Raw material 'B' from local dealer ₹ 1,00,000 (excluding GST @ 12%).
• Purchased capital goods from WB to be used in office ₹ 4,00,000 + 12%. Rate of Depreciation @
25%.
• Others Direct and Indirect expenses ₹ 90,000 (inclusive of local GST ₹ 10,000).
Page | 13
• Profit margin 25% on Sale price.

• 20% of production is unsold.
• Half of goods sold interstate.
[Ans: Surplus ITC of SGST – ₹ 11,960; Tax Value of Supply – ₹ 5,12,000.]
9. The following are details of furnished by Mr. C a registered manufacturer under WBGST Act, 2017 find
GST payable:
• Purchased input inter-state ₹ 3,00,000 + GST @ 18%.
• Purchased packing material from local dealer 2,00,000 + 12%.
• Import of capital goods for ₹ 3,60,000 (including ₹ 50,000 Basic Custom duty and ₹ 30,000 IGST).
Rate of Depreciation @ 25%.
• Others Direct and Indirect expenses ₹ 3,00,000 (excluding local GST ₹ 15,000).
• 50% of goods sold interstate, 30% intrastate and 20% exported.
[Ans: GST Payable : CGST & SGST – ₹ 9093, IGST – ₹ 9093; Tax Value of Supply – ₹ 11,310.]
10. The following are details of furnished by Mr. D a registered manufacturer under WBGST Act, 2017 find
GST payable:
• Purchased input inter state 8,00,000 + GST @ 12%.
• Purchased store material from local dealer 1,00,000 + 5%.
• Hired outdoor catering for business meeting, employees, etc. ₹ 48,000.
• Imported capital goods of ₹ 2,20,600 including Basic custom duty + 12% GST. Rate of Depreciation
@ 20%.
• 50% of goods sold intra state, 50% transferred to its another branch in UP without quoting any
price.
[Ans: GST Payable : CGST & SGST – ₹ 87,783, IGST – ₹ 58,094; Tax Value of Supply – ₹ 10,59,000.]
Page | 14
INPUT TAX CREDIT (ITC)

1. X furnished you following information:
Input purchased intra state (applicable GST rate 12%) excluding GST 5,00,000
Sundry expenses incurred (with IGST 5,000) 30,000
Output sold intra state 8,00,000 + 12%
Find GST payable.
Input A purchased intra state (applicable GST rate 12%) excluding GST 50,00,000
Input B purchased intra state (applicable GST rate 18%) excluding GST 40,00,000
Sundry expenses incurred (with IGST 50,000) 5,00,000
Input service hired inter state (excluding 18% GST) 20,00,000
Capital goods purchased inter state (including GST 28%) 12,80,000
Output sold inter state 40,00,000 + 12%
Opening balance of CGST 1,32,000
Find GST payable.
Input purchased intra state (applicable GST rate 12%) 30,00,000

Capital Goods purchased Intra state 90,00,000 + 5%
Find GST payable.

Input purchased inter state (applicable GST rate 18%) 30,00,000
40% of input lying in stock
Find GST payable.
Input purchased inter state (applicable GST rate 18%) 40% in stock 50,00,000
Input purchased intra state (applicable GST rate 18%) 70% in stock 40,00,000
Find GST payable.
Page | 15
Input service hired intra state 3,00,000 + 18%

Capital goods purchased inter state 2,00,000 + 12%
40% of input lying in stock
Find GST payable.
7. X Ltd. purchased goods of ₹ 2,00,000 (exclusive of CGST and SGST 9% each) under the cover of invoice
dated 10-12-2018. X Ltd. The company made payment to the supplier on the same date, but forgot to
take ITC. As on 8.11.19 auditor pointed out the mistake. The company now wants to avail Input Tax
Credit of the tax paid on such inputs. Can it do so? The company has filed its annual return year 2018 -
19 on 31.12.19.
8. Honda Machinery delivered a machine to ABC Ltd. in 14/2/2019 for ₹ 3,50,000 + GST and undertook
trial runs and calibration of the machine as per the requirements of ABC Ltd. The amount chargeable
for the post-delivery activities was covered in a Debit Note raised in the month of May 2019 for
₹ 42,000 + GST. Honda Machinery did not file its annual return till October 2018. What shall be the
maximum time limit for taking ITC on basis of such?
Page | 16
TIME OF SUPPLY
What is the Time of Supply of Services under GST?

For any taxation system, time of taxation or point of taxation is of crucial importance. Point of
taxation (POT) refers to the point in time when tax is required to be paid for a taxable event. This is a
mechanism which is used to determine the point in time when the tax liability will arise.
One of the major changes which has occurred between the previous indirect taxation regime and
currently in GST is, the definition of taxable event. While earlier, the taxable event was sale /
removal, currently it is supply. Accordingly, we need to revisit the time of taxation, and understand
how the time of taxation under GST pans out.
Time of taxation in previous regime

Under the previous indirect tax regime, the point of taxation was different for each type of tax:
• Manufacturing of goods (Central Excise): Removal of the excisable goods from the excise unit
• Rendering of services (Service tax): Earliest of date of receipt of payment or date of issue of invoice
• Sale of goods (VAT / CST): Actual sales of goods
Time of supply in GST

The time of taxation in GST is referred to as time of supply. Under GST, the taxable event is supply of
goods and services. The time - point of taxation of GST, when goods or services are supplied will be
determined in terms of the ‘time of supply’ provisions, laid down by the GST Council.
The time of supply provisions, which determine the point of taxation of goods and services, can be
split into 2 parts:
• For goods & services on forward Charge
• For goods & services on reverse Charge
Time of supply of goods & services under forward charge

Forward charge is a mechanism in which the supplier has to levy tax and remit the same to the credit
of the central or state Government. Under the current tax regime, tax is levied and collected on most
transactions using the forward charge mechanism (also called Direct Charge).
Time of supply of goods under forward Charge

The liability of GST (CGST and SGST/UTGST or IGST, as applicable) will arise at the earliest of the
following:
• Date of invoice: The date on which the supplier issues the invoice
• Due Date to issue invoice: The last date on which the supplier is required to issue the invoice with
respect to the supply of goods. In case of supply of goods involving the movement goods, the invoice
needs to be issued at the time of removal. In other cases, at the time of delivery of goods to the
recipient.
• Receipt of payment: The date on which payment is received. The point of taxation in this case will be
the earliest of the date on which payment is accounted in the books of accounts of the recipient or
the date on which payment is credited to his bank account.
Time of supply of services under forward charge

The liability of GST (CGST and SGST/UTGST or IGST, as applicable) will arise at the earliest of the
following:
Page | 17
• Date of invoice: The date on which the supplier issues the invoice
• Due date to issue invoice: The last date on which the supplier is required to issue the invoice is 30
days from the date of supply of services. In case of a banking company, the invoice has to be issued
within 45 days from the date of supply of services.
• Receipt of payment: The date on which payment is received. The earliest of the date on which the
payment is accounted in the books of accounts or the date on which the payment is credited to his
bank account.
Note: In case invoice is not available, the time of supply will be the earliest of the last day to issue
invoice and receipt of payment. The last date to issue the invoice will be 30 days from the date of
supply of services
Time of supply of goods & services under reverse charge

Under the reverse charge mechanism, the recipient or buyer of goods or services has to pay tax to the
credit of the government unlike forwarding charge, where the supplier has to pay the tax. This
mechanism has primarily been introduced to ensure that the tax is collected on the sale of goods or
services from various unorganised sectors. This has helped the government to track and tax those
taxable goods and services which were so far not traceable.
In the previous regime, the relevant taxes were applicable on goods and services under Reverse
Charge. On purchases of goods made from unregistered dealers, the recipient (registered dealer) of
goods had to pay purchase tax on a reverse charge basis. Similarly, on certain notified categories of
services, the recipient had to pay service tax on a reverse charge basis. The burden of tax liability
under reverse charge, was applicable completely on the recipient of service or partially on the service
provider and the recipient of service, depending on the nature of the service.
Time of supply of goods under reverse Charge

The liability of GST (CGST and SGST/UTGST or IGST as applicable) will arise at the earliest of the
following:
• Date of receipt of goods: The date on which the goods are received by the recipient
• Date of payment: The date on which payment is made. The earliest of the date on which the payment
is accounted for in the books of accounts of the recipient or the date on which the payment is
credited to his bank account
• 30 days from date of invoice: The date immediately following 30 days from the date of issue of
invoice by the supplier.
Note: If for any reason, the above dates cannot be determined, then the time of supply will be the
date of recording the supply in the books of the recipient.
Time of supply of services under reverse charge

The liability of GST (CGST and SGST/UTGST or IGST as applicable) will arise at the earliest of the
following:
• Date of payment: Earliest of date of payment entered in books of accounts or the date on which
payment is credited to the bank accounts.
• 60 days from the date of invoice: In case payment is not made by recipient to service provider within
60 days, the time of supply will the date immediately following the expiry of 60 days.
Note: If for any reason, the above dates cannot be determined, then the time of supply will be the
date of recording the supply in the books of the recipient.
Page | 18
COMPUTATION OF GST
1. A ltd., a registered supplier, is manufacturing taxable goods. It provides the following details of
taxable inter-state supply made by it for the months of March, 20XX.
Particulars Amount (₹)
List price of goods supplied inter-state (exclusive of taxes) 15,00,000
Following amount are separately charged:
Subsidy received from central Government for supply of taxable goods to
Government school. 2,10,000
Subsidy received from a NGO for supply of taxable goods to an old age home 50,000
Tax levied by Municipal Authority 20,000
Packing charges 15,000
Late fee paid by the recipient of supply for delayed payment of invoice 6,000
The list price of the goods takes into account the two subsidies received. However, the other charges
/ taxes / fee are charged to the customers over and above the list price. Calculate the value of taxable
supply. Rate of IGST is 18 % not included in list price.
[Ans: Assessable Value – ₹ 15,91,000]
2. From the following information the value of taxable supply:

Value of Machine 9,80,000
The invoice value includes the following :
i) Testing charges 500
ii) Weighing Charges 20,000
iii) Consultancy charges in relation to pre-installation planning 8,000
iv) Inspection Charges 1,500
v) Taxes (other than CGST/SGST/IGST) charges separately by the supplier 1,000
Other Information :
i) Subsidy received from Central Government for setting up factory in backward
region 45,000
ii) Subsidy received from third party for supply of machine to recipient 35,000
GST includes in the above price @ 12 %
[Ans: Value of taxable supply – ₹ 9,06,250]
3. From the following information the value of taxable supply:

Value of machine including the following - 10,00,000
Weighing charges 50,000
Other charges (not incidental to supply) 40,000
Taxes (other than CGST/SGST/IGST) charged separately by the supplier 10,000
GST includes in the above price @12% 1,500
[Ans: Value of taxable supply – ₹ 8,57,143]
Page | 19
SUBSIDY
4. A philanthropic association makes a substantial donation each year to a reputed private management
institution to subsidize the education of low income group students who have gained admission
there. The fee for these individuals is reduced thereby, coming to 14 lakhs a year compared to 6 lakhs
a year for other student.
Case 1: What would be the taxable value of the service of coaching and instruction provided by the
institution?
Case 2: How shall your answer differ if the subsidy has been given by State Government?
Case 3: How shall your answer differ if the subsidies given by philanthropic association for setting up
private management institution in backward regions?
5. Ganpati is supplier of catering services. XYZ Co. is conducting a dealers' meet and hired Ganpati as
caterers. Caterers contracts with vendors to deliver goods/ services like water, soft drinks, audio
system, projector, catering, flowers, etc. at the venue on the stipulated dates at the stipulated prices.
Ganpati agreed for a total consideration of 10 lakh.
The flowers supplier wants payment upon delivery? 1 lakh and XYZ Co. agrees to pay the bill raised by
the flower’s supplier on behalf of Ganpati.
Finally, Ganpati billed to XYZ Co for net amount 29 lakh.
Find assessable value.
[Assessable Value: ₹ 10Lakh]
6. Whether Free of cost materials provided by recipient to supplier shall be included in value of supply
made by supplier?
7. Which of the following shall not be included in value of supply?

(a) Commission
(b) Late fee or penalty for delay
(c) GST
(d) Interest
8. X Ltd. gets an order for supply of processed food from a customer. The customer wants the
consignment tested. X Ltd. does the testing and charges a testing fee for the same from the customer.
X Ltd. argues that such testing fess should not form part of the consideration for the sale as it is a
separate activity. Is his argument correct in the light of section 15?
9. From the following information, determine the value of taxable supply as per provision of sec. 15 of
the CGST Act:

Value of Machine (excluding GST @ 12%) 80,00,000
Invoice value excludes the following:
i) Taxes (other than CGST / SGST / IGST) charged separately by the supplier 1,00,000
ii) Weighment and loading charges 2,00,000
iii) Consultancy charges in relation to pre-installation planning 3,00,000
iv) Testing charges 1,00,000
v) Inspection charges 1,50,000
Oher information:
(i) subsidy received from central government from setting up factory in backward 51,000
Page | 20
regions
(ii) subsidy received from third party for timely supply of machine to recipient 2,50,000
(iii)Trade discount actually allowed shown separately in invoice 2,00,000
Specify reason with suitable assumptions where necessary.
10. A ltd. a registered supplier is manufacturing taxable goods. It provides the following details of
taxable inter-state supply made by it:
List price of goods supplied inter-state inclusive of following 10,00,000
Tax levied by local authority 50,000
Freight 26,000
Yet adjustment need to be made for
Late fee 10,000
subsidy from government (already subtracted while determining list price) 40,000
subsidy from NGO (already subtracted while determining list price) 60,000
11. X ltd., provides the following details to determine taxable value of supply:
Particulars Amount
List price (inclusive of GST 1,60,000) and include following 9,60,000
Local Tax 52,000
Dharmada 21,000
Trade discount to be subtracted 50,000
Other expenses not incidental to supply included in above price 1,00,000
if rate of GST 28 % , find GST Liability.
[Ans: ₹ 1,82,000]
Page | 21
CUSTOM DUTY
1. Mr. Suyash imported 1,000 units @ ₹ 200 each incurred the following expenditure:
Particulars Amount (Rs)

Insurance Charges 48,000
Rate of exchange as on the date when bill of Entry is filed 7.1.19 50
Rate of exchange as on the date when Entry is filed 2.1.19 52
Determine the Assessable Value in hands of Mr. Suyash.
[Ans: Assessable value (CIF) – ₹ 1,20,48,000]

2. Mr. X imported (by air) 1,000 units @ ₹ 200 each incurred the following expenditure:
Particulars Amount (Rs)

Loading and unloading charges 6,000
Freight (actually incurred) 42,000
Determine the Assessable Value in hands of Mr. X.
[Ans: Assessable value (CIF) – ₹ 2,41,000]
3. Mr. Vishal imported 1000 units @ ₹ 100. Bill of entry was filed on 7/7/2018. Entry inward was issued
on 11/07/18. Other particulars are given as follows:
Particulars Details Amount (₹)
On 7/7/18 10%
Rate of Duty
On 11/7/18 12%
Rate of Exchange 50
Freight 4,000
Insurance 2,000
You are required to determine the assessable value and duty payable
[Ans: Assessable value (CIF) – ₹ 53,00,000; Total Duty Payable – ₹ 6,99,600]

4. Mr. Giriraj imported goods at a transaction value of ₹ 6,00,000. However, as per terms of sale
following payments are further to be made:
Insurance 2,000
Freight 1,50,000
Loading and unloading at export port 8,000
Royalty for patent needed for production 10,000
Sellers Commission 9,000
Buying Commission 4,000
Additional Information:
Particulars Filed on Rate of Duty
Bill of Entry 7/7/18 10%
Entry Inward 5/7/18 12%
You are required to compute the Duty payable by Mr. Giriraj.
Page | 22
[Ans: Total Duty Payable – ₹ 94,490]
5. Compute value of the imported goods for custom purpose with the following information:
Particulars Case 1 Case 2 Case 3

Price actually payable to the seller 10,000 20,000 30,000
Cost of packing materials 1,000 Nil Nil
Labour charges for packing 200 Nil Nil
Price of material supplied to seller by buyer 1,000 Nil Nil
free of cost
Cost of transport 1,000 Unascertained 9,000
Insurance 113 Unascertained 500
Local transport in India 500 400 600
Mode of transport Sea Sea Sea
[Ans: Assessable Value : Case 1 – ₹ 13,313 ; Case 2 – ₹ 24,225 ; Case 3 – ₹ 36,500]

6. Mr. Neeraj imported 1000 units of goods from Mr. Akshat of New York @ ₹ 60 per unit. In addition to
the above Mr. Neeraj had to incur the following expenditure:
Container Cost 5
Royalty for use of plant 4
Commission paid in India for Canalizing sale 80,000
Buying commission paid in Malaysia for representing buyer in export country 10,000
• The technique supplied was not related to or connected with goods imported.
• Rate of Duty 10%
• Exchange rate of ₹ 50
[Ans: Total Duty Payable – ₹ 4,70,328]
7. Mr. X imported 1,000 units @ ₹ 100 each incurred the following expenditure:

Packing charges 2 per unit
Container Charges 1 per unit
Buying commission 1.2 per unit
Freight 3 per unit
Insurance charges 1 per unit
Exchange Rate 70
Basic Custom duty 10 %
SWS 10 %
IGST 12 %
You are required to determine the assessable value and duty payable in hands of Mr. X.
[Ans: Total Custom Duty – ₹ 18,21,568]
8. An importer has imported a machine from UK at FOB cost of 10,000 UK pounds, other details are as
follows:
(a) Freight from UK to Indian port was 700 pounds.
Page | 23
(b) Insurance was paid to insurer in India: 6,000.

(c) Design and development charges of 2,000 UK pounds were paid to a consultancy firm in UK.
(d) The importer also spent an amount of ₹ 50,000 in India for development work connected with
the machinery.
(e) ₹ 10,000 was spent in transporting the machinery from Indian port to the factory of importer.
(f) Rate of exchange as announced by RBI was: 68.82 one UK pound.
(g) Rate of exchange as announced by CBIC (Board) by notification u/s 14(3)(a)(i) : One pound UK
pound = ₹ 68.70.
(h) Rate at which bank recovered the amount from importer: 68.35 one pound UK.
(i) Foreign exporters have an agent in India. Commission is payable to the agent in Indian Rupees @
5% of FOB price.
Customs duty payable was 10%. If similar goods were produced in India, IGST payable is 28%. Find
customs duty payable. How much ITC can be availed by importer, if he is manufacturer?
[Ans: Custom Duty Payable – ₹ 3,84,123]
9. A consignment is imported by air. CIF price is US$ 12,500. Freight is US$ 2,450 and insurance cost is
US$ 300. On the date of presentation of bill of entry, RBI floor rate was US$1 = 47.80 and rate notified
by the Government of India was 47.75. Find the value of the consignment for customs purposes.
[Ans: Assessable value (CIF) – 5,73,000]
10. Mr. A imported 2,000 units @ ₹ 50 each incurred the following expenditure:

Rate of exchange as on the date when bill of Entry is filed 20.1.19 70
Rate of exchange as on the date when Entry inward is filed 5.2.19 72
Determine the Assessable Value in hands of Mr. A
11. Mr. X imported (by air) 5,000 units @ ₹ 40 each incurred the following expenditure:

Packing Charges 6,000
Freight (actually incurred) 48,000
Determine the Assessable Value in hands of Mr. X.
12. Mr. X imported 1000 units @ ₹ 100. Bill of entry was filed on 7/7/2018. Entry inward was issued on
11/07/18. Other particulars are given as follows:
Particulars Details Amount (₹)
On 7/7/18 10 %
Rate of Duty
On 11/7/18 12 %
Rate of Exchange 50
Freight 4,000
Insurance 2,000
You are required to determine the assessable value and duty payable.
[Ans: Assessable value (CIF) – ₹ 53,00,000 ; Total Duty Payable – ₹ 6,99,600]
Page | 24
13. Mr. G imported goods at a transaction value of ₹ 8,00,000 by air. However, as per terms of sale
following payments are further to be made:
Insurance 5,000
Freight 2,50,000
Loading and unloading at export port 5,000
Royalty for patent needed for production 20,000
Sellers Commission 10,000
Buying Commission 5,000
Particulars Filed on Rate of Duty
Bill of Entry 7/7/18 10%
Arrival of aircraft 5/7/18 12%
You are required to compute the Duty payable by Mr. G.
14. Mr. N imported 2000 units of goods @ ₹ 50 per unit. In addition to the above Mr. Neeraj had to incur
the following expenditure:
Container Cost 3
Royalty for use of plant 2
Packing charges 1
Pre-importation development cost separately charged 4
Commission paid in India for Canalizing sale 6,00,000
Insurance Paid in India 6,00,000
Buying commission paid in Malaysia for representing buyer in export country 10,000
• Rate of Duty 10 %
• Exchange rate of ₹ 70.
15. Mr. X imported a machine of ₹ 5,00,000 and incurred the following expenditure:

Container Charges 1,000
Selling commission 1,200
Freight 1,30,000
Insurance charges 2,500
Exchange Rate 72
Basic Custom duty 10 %
SWS 10 %
IGST 12 %
You are required to determine the assessable value and duty payable in hands of Mr. X.
[Ans: ₹ 5,69,91,272]
Page | 25

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S. No. Chapters Page. No.

Business Income ₹ 4,85,000

[Ans: Gross Total Income – ₹ 3,75,000; Total Income – ₹ 3,75,000.]

Business Income (Tax of ₹ 4,704 is deducted at source) ₹ 5,11,000

[Ans: Advance Tax Payable – ₹ 24,000]

Income from Salary ₹ 8,65,000

Income from Let out House Property (computed) ₹ 42,500

[Ans: Gross Total Income – ₹ 8,58,200; Total Income – ₹ 7,75,600.]

[Ans: Advance Tax Payable : Situation I – ₹ 5,560, Situation II – ₹ 20,000.]

Gross Salary ₹ 6,50,000

[Ans: Total Income – ₹ 5,10,000; Advance Tax Payable – ₹ 3,080.]

Particulars Amount (₹) Particulars Amount (₹)

Particulars Amount (₹) Particulars Amount (₹)

b) Depreciation as per Income-tax Rule ₹ 17,000.

Particulars Amount Particulars Amount

[Ans: Book Profit – ₹ 1,97,000; Total Income – ₹ 69,700]

Particulars Amount Particulars Amount

i) Office expenses including penalty to customs authority ₹ 10,000.

Particulars Amount Particulars Amount

Credit items including the following:

Particulars Amount (₹) Particulars Amount (₹)

Particulars Amount (₹) Particulars Amount (₹)

Particulars Amount (₹) Particulars Amount (₹)

[Ans: Total Interest Payable u/s 234C – ₹ 42,058]

[Ans: Total Interest Payable – ₹ 4,525]

[Ans: Interest Payable u/s 234A – ₹ 328]

Tax payable on assessed income ₹ 2,06,700

[Ans: Interest Payable u/s 234B – ₹ 1,980]

[Ans: Interest Payable u/s 234A – ₹ 270]

8. From the following information, compute the interest u/s 234A :

[Ans: Interest Payable u/s 234B – ₹ 2,106]

[Ans: Interest Payable u/s 234A – ₹ 2,500]

[Ans: Interest Payable u/s : 234B – ₹ 304 , 234C – ₹ 1,213]

[Ans: GST Payable : IGST – ₹ 84,096; Taxable Value of Supply – ₹ 7,47,200]

Calculate the amount of GST payable.

Calculate the amount of CGST and SGST payable.

• Profit margin 25% on Sale price.

[Ans: Surplus ITC of SGST – ₹ 11,960; Tax Value of Supply – ₹ 5,12,000.]

Calculate the amount of GST payable.

Calculate the amount of GST payable.

INPUT TAX CREDIT (ITC)

2. X furnished you following information:

3. X furnished you following information:

Input purchased intra state (applicable GST rate 12%) 30,00,000

4. X furnished you following information:

Input purchased intra state (applicable GST rate 12%) 10,00,000

5. X furnished you following information:

6. X furnished you following information:

Input purchased intra state (applicable GST rate 12%) 1,00,000

Input service hired intra state 3,00,000 + 18%

What is the Time of Supply of Services under GST?

Time of taxation in previous regime

Time of supply in GST

Time of supply of goods & services under forward charge

Time of supply of goods under forward Charge

Time of supply of services under forward charge