Download OU B.Com (Important Questions) Theory and Practice of GST Question Bank

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FACULTY OF COMMERCE OSMANIA UNIVERSITY

B.Com (CBCS) VI – Semester (For All Streams)

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Practical Question Bank

Theory and Practice of GST

Time: 60 Minutes

Record : 10

Skill Test : 15

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Total Marks: 25

1. Draw a chart showing tax structure in India.
2. Draw a chart and write a note on Pre-GST Indirect tax structure in India.
3. Write any five limitations of Pre-GST Indirect taxes.
4. What was the significance of Introduction of VAT in Indirect Taxes prior to implementation of GST. Write a short note.

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5. Need for GST in India.
6. What are the important stages in implementation of GST.
7. What were the taxes subsumed in GST.
8. Visit CBIC Website and make a note of important contents.
9. What is the major difference in incidence of tax during pre and post GST implementation with respect to inter-state transfer. Explain with example.

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10. What are the exclusive products not included in the purview of GST. Why?
11. When GST council was notified and what is its composition.
12. What are different types of taxes levied under GST.
13. What are the laws supporting the levy of GST. Explain with examples or rules.
14. What is RNR?

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15. What are the categories of Goods and Services for levying GST.
16. Briefly explain the important components of Supply.
17. What activities are included in supply.
18. Brief registration process of GST.
19. Ram Enterprises purchased goods from Shyam Enterprises. The goods were supplied on 15/01/2018. Ram Enterprises paid an advance of Rs. 1,00,000 for purchases on 10/01/2018. The invoice was raised on 30/01/2018. Explain with respect to supply.

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20. Mr. Y was travelling from Hyderabad to Bengaluru on flight. During his journey he purchased some books. Determine the incidence of tax. Identify place of supply.
21. What is Composite supply and Mixed Supply. What is the rate of tax applied?
22. Write a short note on the process of GST.
23. What are the types a dealer can opt at registration?
24. What is the threshold limit for composite dealers & Registered dealers.

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25. List out five examples of B2C transactions.
26. Draw a specimen of Invoice, Tax Invoice and Bill of Supply.
27. What is Supplementary invoice.
28. What is the eligibility for availing Input Tax Credit.
29. With the help of diagram show Input Credit Mechanism.

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30. List out masters to be created to effect GST in tally.
31. Draw a table giving details of GSTR-1,GSTR-2,GSTR-3.
32. Write the steps for filing GSTR 1, GSTR -2,GSTR-3.
33. Who files GSTR-6A.
34. What type of GST Returns, e-commerce operators need to file.

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35. What is Reverse Charge Mechanism.
36. What are the activities specified for composition List according to CGST.
37. Mr. Ankur purchased goods for Rs. 8,00,000 and paid tax @ 5% from a dealer in same locality. He sold Rs. 4,00,000 worth goods to Raj and collected tax from him. Record the following transaction with the help of accounting Software.
38. Mahesh Enterprises of Hyderabad purchased goods from Ashish Enterprises of Chennai, he paid GST @ 28%. Record the transaction in Accounting software.
39. Create 3 stock items named milk, bread and Ice creams. Opening balances of these 3 stock items would be milk – 10 litres, Bread– 20 Pkts and Ice creams – 25 numbers.Create 1 sundry debtor and 1 sundry creditor within state. Record a purchase entry of 5 liters of milk at 5% GST rate for ?80 per liter, 10 Pkts of Bread for Rs.25 per pktat 5% GST rate and 30 numbers of Ice creams for ?30 per Ice creamat 18% GST rate. A sale entry 10liters of milk Rs.90 per liter, 15Pkts of Bread for Rs.40 per pktand 35 numbers of Ice creams for ?50 per Ice cream.

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40. What is the value in GST invoices when Rs. 10000 worth of goods are purchased, GST tax rate @ 5%. In second invoice two purchases of Rs 5000 worth goods GST rate @ 5% and another Rs 5000 GST @ 18%. Both the transactions are intra state and show the GST Tax ledgers.
41. Mr. A sold goods to Mr. B for Rs. 20,000. Mr. A is charging packing charges of Rs. 800. And also paying freight of Rs. 2800 from Mr. A's premises to Mr. B's premises. Mr. A also charged interest of Rs. 750 for delay in payment. Determine the taxable value for levy of GST. Whether packing charges or freight, Interest are required to include in the invoice to determine taxable value? Show Tax Invoice GST@ 12% ( intra state supply).
42. Mr. X sold 1000 units of goods to Mr. Y for Rs. 20,000 and total unit sold during the year to Mr. Y after including these units is 2500 unit. As per terms of the agreement if Mr. Y is purchasing more than 2000 unit of goods in a year then Mr. X is allowing 10% discount in all the supplies. Assuming IGST rate is 18%. How discount will be recorded?
43. Create 5 stock items with GST @ zero tax rate, @ 5%, @12%, @18%, record interstate purchase and sale transactions. Show the details of input tax credit.
44. What are the conditions for E-Way bill. What are the options available in Tally.

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45. Mr. Ajay (Hyderabad) provides consultancy services to Mr. Vijay (unregistered, address on record shows Tamil Nadu)and charged Rs.10000, levied GST @18%. Even provided consultancy services to Mr. Anand (unregistered and address is not available) Rs.15000, GST @ 12%. Show the transactions in Tally.
46. Mrs Rani, resident of Hyderabad has a Bank account and with draws money from ATM in Hyderabad. She went on tour and withdrawn Rs50000 from ATM in Kerala. Identify place of service, type of taxes levied in both the cases.
47. M/s Pooja sold250 laptops to M/s.Raj for Rs. 50,000 each.Tax Invoice was raised. They were given discount of Rs.5000. M/s Raj returned 250 laptops .Assuming GST rate is 18%. Show discount and GST ledger.
48. Assume five intra state purchase and sale transactions and show Input tax credit in Tally.
49. Out ward supplies, B2B, Goods sold to R dealer Rs. 120000, Goods sold to Customer (B2C) Rs.15000, Goods sold to Interstate dealer Y Rs. 150000. Assuming GST @ 18% show the effect of outward supplies in GST Return.

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50. Purchased goods from registered dealer M/s Modern, Rs. 50000andRs. 5000 was paid as advance, Purchased goods from unregistered dealer M/s. Ram Rs. 40000. Purchased goods from inter state dealer M/s Jyothi, Rs. 75000. Goods returned to M/s Jyothi Rs.5000, after raising tax invoice. Record Inward supplies in Tally.

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