CA IPCC Taxation paper held in Nov 2016 solution analysis
Question No.
|
Act
|
Marks
|
Topics
|
T / P
|
Estimated time to answer
| |
1
|
a.
|
IT
|
10
|
PGBP, OS, 80C to 80U
|
Practical
|
15 minutes
|
b.
|
ST
|
6
|
Computation of service tax
|
Practical
|
7 minutes
| |
c.
|
VAT
|
4
|
Computation of VAT payable and refundable
|
Practical
|
10 minutes
| |
2
|
a.
|
IT
|
8
|
Capital Gain
|
Practical
|
20 minutes
|
b.
|
ST
|
5
|
Reverse Charge
|
Theory
|
7 minutes
| |
c.
|
CST
|
3
|
Computation of CST
|
Practical
|
7 minutes
| |
3
|
a.
|
IT
|
4
|
S 9(1)(iii) + S 10(7)
|
Practical
|
5 minutes
|
b.
|
IT
|
4
|
Deemed dividend u/s 2(22)(e)
|
Theory
|
7 minutes
| |
ST
|
5
|
Computation of ST
|
Practical
|
7 minutes
| ||
c.
|
CST
|
3
|
Computation of CST
|
Practical
|
7 minutes
| |
4
|
a.
|
IT
|
8
|
Capital Gain, OS, RS, TDS
|
Theory
|
10 minutes
|
b.
|
CCR
|
4
|
Computation of CCR
|
Practical
|
7 minutes
| |
c.
|
Excise
|
3
|
Excisable goods and reverse charge
|
Theory
|
7 minutes
| |
5
|
a.
|
IT
|
4
|
Agricultural Income
|
Practical
|
10 minutes
|
IT
|
4
|
Leave Travel Concession
|
Practical
|
6 minutes
| ||
b.
|
Custom
|
5
|
Computation of duty and CCR
|
Practical
|
9 minutes
| |
c.
|
Excise
|
3
|
Computation of Excise duty
|
Practical
|
8 minutes
| |
6
|
a.
|
IT
|
2
|
Advance Tax
|
Theory
|
4 minutes
|
b.
|
IT
|
2
|
ROI
|
Theory
|
3 minutes
| |
IT
|
4
|
80JJAA
|
Practical
|
10 minutes
| ||
c.
|
ST
|
5
|
Return of service tax
|
Theory
|
6 minutes
| |
d
|
Custom
|
3
|
Charging section
|
Theory
|
5 minutes
| |
7
|
a.
|
IT
|
8
|
TDS u/s 192A, ROI & Advance Tax
(Out of 3 attempt 2) |
Theory
|
8 minutes
|
b.
|
ST
|
4
|
Aggregator
|
Theory
|
6 minutes
| |
c.
|
CCR
|
4
|
Place of removal
|
Theory
|
5 minutes
| |
minute
TOTAL
| ||
Questions
|
Marks
|
Time
|
28
|
115
|
196 Minutes
(3 hours 15 minutes |
Marks
|
Percentage
| |
Past Year Paper
|
12
|
10.43%
|
Practice Manual
|
0
|
0.00%
|
Amendments
|
16
|
13.91%
|
115
|
31.30%
|
Income Tax
|
58
|
50.43%
|
Service Tax
|
25
|
21.74%
|
Excise
|
6
|
5.22%
|
Customs
|
8
|
6.96%
|
VAT
|
4
|
3.48%
|
CST
|
6
|
5.22%
|
CCR
|
8
|
6.96%
|
115
|
100.00%
|
Solutions solved by CS K K Agrawal
Q. No
|
Act
|
Solutions
| |
1
|
a.
|
IT
|
TI : 5,52,500
|
b.
|
ST
|
Value : 30 L; ST : 4.35
| |
c.
|
VAT
|
VAT Payable : 3,47,500; VAT refundable : 90,000
| |
2
|
a.
|
IT
|
TI : 4,26,374; Tax : 36,332
|
b.
|
ST
|
ST : 2,17,500
| |
c.
|
CST
|
TT : 24,03,846; CST : 96,154
| |
3
|
a.
|
IT
|
GTI : 7,65,000
|
IT
|
Deemed dividend : Yes
| ||
b.
|
ST
|
Value : 14.5 L; ST : 2,10,250
| |
c.
|
CST
|
TT : 49,01,960; CST : 98,040
| |
4
|
a.
|
IT
|
T; T; T; A
|
b.
|
CCR
|
A; NA; A; NA; A
| |
c.
|
Excise
|
False; True
| |
5
|
a.
|
IT
|
BI : 4 L; AI 5 L
|
IT
|
Exempt 80,000; 20,000
| ||
b.
|
Custom
|
Duty : 3,47,905; CCR : 2,21,315
| |
c.
|
Excise
|
CENVAT : 52,125
| |
6
|
a.
|
IT
|
Advance tax is required to be paid in tax on capital gain also.
|
b.
|
IT
|
Managing Director
| |
IT
|
52,875
| ||
c.
|
ST
|
Penalty : 1,800; Yes within 90 days
| |
d
|
Custom
|
False; True
| |
7
|
a.
|
IT
|
(i) URPF; 10%; 30,000 (ii)(1) No (ii)(2) Yes (iii) 18;18 and 24
|
b.
|
ST
|
Full reverse charge is applicable to aggregator
| |
c.
|
CCR
|
Yes; No
| |
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