Indirect Tax Laws, Question Paper of B.Com 4th Semester, Download Previous Years Question Paper 1

Roll No.

Total No. of Questions: 07

B.Com (Sem.- 4th)

INDIRECT TAX LAWS

Subject Code: BCOP-402

Paper ID: [B1141]

Time: 3 Hrs.

INSTRUCTIONS TO CANDIDATE:

1. Section –A is Compulsory. Give answer to each question up to five lines in length. Each questions caries two marks.

2. Attempt four questions from Section-B . Each question caries 10 marks.

Section –A

Q.1. Write short notes on the following :

(a) Define Cascading effect.

(b) Explain incidence of tax.

(c) Differentiate between Safeguard Duty and Anti Dumping Duty.

(d) Discus duty drawback.

(e) Explain any two types of Excise Duty.

(f) Who is causal trader under PVAT Act 205.

(g) Who is a registered dealer under CST Act 1956?

(h) Define work contract.

(i) What is Captive Consumption?

(j) What is Special Economic Zone?

Section –B

Q. 2. Discus the basic features of Indirect Tax Laws in India.

Q. 3. What would be the value for the purpose of customs, if a consignment imported by air has a CIF price of US$ 2,50 including freight US$ 70 and insurance US $90? The exchange rate notified by the Govt. Of India under Sec. 143(3)(a)(1) of the Customs Act, 1962 is Rs.45.50.

Q. 4. Write down the provisions and procedure regarding registration under Central Excise.

Q. 5. Explain the procedure for assessment and collection of Customs duty.

Q. 6. The particulars of sales of a dealer are as under :

Particulars                                                                               Amount Rs.

Gross turnover (excluding the amount of sales tax)                          20,0,000

Sales of taxable gods in the state                                             2,0,000

Export from India                                                                             3,0,000

Last sale to a leader for the purpose of complying the order of export      50,000

Gods returned out of interstate sales after seven months                           20,000

Subsequent sale during movement of gods due to Inter State trade 1,20,000

Sale of exempted gods in the state                                                    2,50,000

Sales of newspaper                                                                           1,0,000

Compute the taxable turnover of the dealer in the interstate trade.

Q. 7. Explain Value Added tax. Explain its salient features with its merits and demerits.