The Institute of Cost and Works Accountants of India 2010 CWA Inter Group II - Revalidation Test - Applied Indirect Taxation -10 - Question Paper
Year 2010: The Institute of Cost and Works Accountants - CWA Intermediate Group II: Applied Indirect Taxation Paper-10: 2010 University ques. paper
PAPER-10
REVALIDATION TEST PAPER-RV/10/AIT/2010
Time Allowed-3 Hours Full Marks-100
Answer Question No I which is compulsory and any five from the rest 1 (a) Fill up the blanks:
(i) Goods covered by Central Excise Tariff but fully exempt from duty are_
(excisable/not excisable)
(ii) SSI units whose turnover exceeds Rs. _________ per annum have to furnish
declaration in prescribed form for Central excise purposes.
(iii) Compressing and bottling gas _________ (is/isnot) manufacture.
(iv) Affixing brand name, labelling or re-labelling and repacking from bulk pack to
small pack of readymade garment_(is/is not) manufacture.
(v) Cenvat credit_(can/can not) be utilised for payment of service tax on
output service.
(vi)Job work done under Cenvat provisions __________ (is/is not) exempt from service
Basic Customs duty is levied under section_of the Customs Act.
(vii)
(viii)
(ix)
(x)
Exclusive economic zone extends to _(200/300) nautical miles
from the base line of the coast. Beyond _(100/200) nautical miles
is High Seas.
Laptop Computer (Note Book Computer) brought as baggage by person above
18 YEARS OF AGE----------------------(is/is not) Fully exempt from Custom
Duty.
Finance Act, 1994 which contains provisions relating to service tax
__________ (does/does not) provide for criminal liability in service tax
matters.
(10 marks)
1(b) State with reasons, whether True or False :
(i) Cenvat credit on capital goods can be availed in full in the year of purchase.
(ii)Wastes and scrap are always treated as excisable goods.
(iii)Trade Discount is permissible as deduction from assessable value for Central Excise ,only if it is given before removal from factory.Discount given later is not allowable as deduction.
(3*5 marks)
2(a) Briefly examine the significance of the Levy of Anti Dumping Duty under the
Custom Tariff Act 8
(b) Write Short Note on Transaction Value under the Central Excise Act. 7
3 (a) What is special Audit under section 14AA of CEA? (cenvat credit Audit)
4
(b) Who can conduct such audit? 3
(c) Who can order such audit? 4
(d) What is the time limit for submission of report? 4
4 (a) Briefly discuss about the general exemption and concessions given to SSI Units for Excise duty purposes. 8
(b) M/S RPL has three units situated in Bangalore, Delhi and Pune. The total clearances from all these three Small Scale units of excisable goods was Rs. 350 lakhs during the financial year, 2007-2008. However, the value of individual clearances of excisable goods from each of the said units was Bangalore Unit Rs. 150 lakhs; Delhi Unit Rs. 100 lakhs; and Pune Unit Rs. 1000 lakhs.
Discuss briefly with reference to the Notifications governing small scale industrial undertakings under the Central Excise Act, 1944 whether the benefit of exemption would be available to M/s RPL for the financial year, 2008-2009. 7
5 (a) Briefly explain the provisions under the Customs Act relating to import through courier. 7
(b) Write Brief notes on
i) Identical Goods
ii) Similar Goods 8
6 (a) State the provisions relating to general exemption available to small service providers. 8
(b) Outline the provisions relating to registration under service tax. 7
7 (a) What is the impact of VAT on CST ? 8
(b)Distinguish ZERO RATED SALE and EXEMPT SALE with reference to VAT
7
8Write short notes on any three of the following:
(a) Related Person under Central Excise Act
(b) Meaning of Accessory for Central Excise purpose.
(c) Transit and Transhipment of Goods
(d) Appeals under Service tax 5*3
12
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