DCM 2201 INDIRECT TAXES JAN-FEB 2026

Description

SESSION	JAN 2026
PROGRAM	BACHELOR OF COMMERCE
SEMESTER	IV
COURSE CODE & NAME	DCM2201 INDIRECT TAXES

 

Assignment Set – 1

 

Q.1. a. Xing ltd. sells a package that includes: i. A Laptop (exclusive of GST 28%) ₹50,000 ii. A software subscription (for 1 year) (exclusive of GST 12%) ₹10,000 iii. An extended warranty service (for 1 year) (exclusive of GST 5%) ₹2,000. The total price for this package is Rs. 62,000. Determine the tax liability for this supply. b. Mention the causes of adoption of GST system. (5+5 = 10 Marks)

Ans 1.

1. A) Assessment of Tax Liability for Supply of Composite or Mixed

The first thing to do is identify whether the bundle is the term “composite supply” or mixed sale under the GST framework. In accordance with Section 8(1) of CGST Act, 2017, the term “combined supply” refers to a supply consisting of two or more taxable products that are naturally packaged and sold concurrently in the course of business where one element is considered to be an essential supply. A mixed supply is mixture of supplies that is natural

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Q.2. Discuss the provisions of GST related to determination of time of Supply of goods with example. (10 Marks)

Ans 2.

The supply date determines the point at which the tax liability becomes due pursuant to GST. This is crucial because it determines the time that the taxpayer has to pay tax and file returns. The section 12 in the CGST Act, 2017 deals with the supply time of products.

General Rule for Time of Supply of Goods

According to Section 12(2), the time of supply of goods is when the date of supply occurs earlier than: (a) that is the day on which invoices are issued by the supplier, or the end date at which

 

 

Q.3. Determine the place of supply and applicable taxes in the following cases: I. M/s A Ltd. (Delhi) places an order with M/s B Ltd. (Mumbai) to deliver goods directly to M/s C Ltd. (Chennai). II. An Indian dance troupe (registered in Delhi) performs in Dubai for an event organized by a Dubai-based company. III. A passenger books a bus ticket from Delhi to Jaipur. IV. Mr. Sharma from Punjab books a hotel room in Goa through an online travel portal. V. M/s Delhi Traders (Delhi) sells a machine to M/s Gurugram Engineers (Haryana). The machine is located at a warehouse in Delhi and handed over there itself. (10 Marks)

Ans 3.

The rules for supply in place of the IGST Act, 2017 determine the states in which GST is to be levied and determine the allocation of tax revenues between the government of the central and state levels. These provisions apply as follows:

Case I – Bill to Ship to (Third-Party Delivery)

According to Section 10(1)(b) in the IGST Act, when goods were supplied under the direction by a third party (Bill to Ship or arrangement) the location where the supply is made will serve as the

 

 

Assignment Set – 2

 

Q.4. a. Discuss the concept of ‘Input Tax Credit’ with example. b. Outline the concept of Blocked credit. Mention goods and services on which ITC is blocked. (5+5 = 10 Marks)

Ans 4.

1. a) Input Tax Credit

The Input Tax Credit (ITC) is the method within the GST system that permits a registered person to reduce the tax owed on the output supply in proportion to the tax already paid on input services, input inputs and capital goods employed in the furtherance of commercial activities. The goal in the creation of ITC is to curb the cascading effect of taxes and to ensure that GST

 

Q.5. Explain the concept of value of supply and what are the items to be included and not to be included in the transaction value as per section 15 of CGST Act 2017? (4+3+3 = 10 Marks)

Ans 5.

Concept of Value of Supply

The value of supply is the foundation upon the which GST is calculated. In accordance with Section 15 of the CGST Act, 2017, the value of the supply is called the transaction value, which is the price actually to be paid or liable for the purchase of goods or services when the suppliers and the recipient do not share a common bond and the price is the sole consideration. The value of the transaction is the initial point for computing GST liabilities. It is the arm’s-length value of a commercial transaction. This is considered as the amount of supply without any further

 

 

Q.6. Compute the customs duty liability as per the provision of the Customs Act 1962 from the following information: FOB price of Imported machinery US$ 21,200; Ocean Freight US$ 2,200; Insurance US$ 600; Exchange Rate 1 US$ = Rs. 75; Basic Customs Duty 10%; Social Welfare Surcharge 10%; IGST 18%. (10 Marks)

Ans 6.

Computation of Customs Duty Liability

According to the Customs Act, 1962, the customs duty is calculated on the Customs Value (CIF Value) of imported merchandise. This CIF Value is the Cost of the goods (FOB) and Insurance plus freight. All values are initially changed to Indian Rupees at the exchange rate announced by