Indirect Tax Laws - November 2020

Enterprises (P) Ltd. is a pharmaceuticals company engaged in the manufacturing of medicines. It has its head office in Rajasthan being registered under GST. It primary sells two products in the market which are as under: (i) A (Taxable at 18%) (ii) B (Taxable at 28%) From head office (HO) it makes sales on the basis of orders received from dealers and its branches. Total sales during the month of February is given below: A B Inter-State (Rs.) Intra-State(Rs.) Inter…

Diwakar (P) Ltd., registered in Delhi, is engaged in trading of cement as well as providing services by way of renting of commercial properties. On 02.01.20XX, it received a contract of 1,000 kg cement from Pakija (P) Ltd., registered in Punjab. Pakija (P) Ltd. directed Diwakar (P) Ltd. to send the consignment to Gajab & Sons, registered in Gujarat. Diwakar (P) Ltd. prepared the consignment on 04.01.20XX and dispatched the same on the next day from his warehouse in Gurugram…

National Anti-Profiteering Authority determines that a registered person has not passed on the benefit of input tax credit to the recipient by way of commensurate reduction in price, the Authority may order: i. reduction in prices ii. imposition of prescribed penalty iii. cancellation of registration Which of the above options are correct? (a) i. andii. (b) i, ii, and iii. (c) i. andiii. (d) i. (2 Marks)