Indirect Tax Laws - October 2021 MTP

Provided transportation services to its students, teachers and other staff for commuting to and from school. Such transportation services are provided to Bright Public School by Ambaji Transporters. An amount of Rs. 1,500 per month is charged from students whereas such services are provided free of cost to teachers and other staff, being part of their employment contract. Consolidated amount of Rs. 2 lakh per month is paid to Ambaji Transporters.

It conducted entrance examination for students of Class 11 for upcoming academic year. It charged entrance fee of Rs. 1,000 from external students and nominal entrance fee of Rs. 200 was charged from internal students at school. A total of 2,000 students gave entrance exam out of which 1000 were internal students.

The school was an examination centre for Class XII Examination conducted on 27 th March. A sum of Rs. 15,000 was received from the Central Board of Secondary Education (CBSE) for hosting the examination in school premises.

Bright Public School also provides boarding and lodging facilities to its students belonging to other cities of India. A consolidated amount of Rs. 1,75,000 per annum is charged per student as a consideration for educational services as well as for services of boarding and lodging provided to them. Note: The above amounts are exclusive of GST, wherever applicable. Based on the facts of the case scenario given above, choose the most appropriate answer to Q. Nos. 1.1 to 1.5: 1.1…

Mr. A is a practicing Chartered Accountant who is supplying the service in the field of auditing and assurance. His earnings during the current financial year are as follows 1. Income from the auditing and assurance service provided during the year- Rs. 1,86,00,000

Rental income from a commercial property, during the year- Rs. 13,90,000 Further, in the month of April, Mr. B purchased 10 computers at a price of Rs. 25,000 each, for his office as new staff has been recruited by his HR team and had availed and utilized ITC on the same. On 31st October, out of these 10 computers, Mr. A shifted 2 computers at his residence for his son for learning purpose. Open market value of each of these…