Acharya Nagarjuna University (ANU) 2007 B.B.M Direct

part – II
* Q. seven describe and discuss the term 'Sale' as per the provisions of the Central Sales Tax Act, 1956. 10
*
OR

discuss with reasons, whether the subsequent are 'sale' as per the provisions of the Central Sales Tax Act, 1956.
* (a) Pledge of Goods.
* (b) Sale of Washing Machines on Hire Purchase System.
* (c) Sale of Medicines by a Doctor.
* (d) Catering Services in a wedding Function.
* (e) Transfer of Goods from 'Factory' to the Branch.
* Q. eight Mr. Lele commenced his Business on first February, 2006. obtain out from which month he will be liable for Registration and to pay Tax as per the provisions of MVAT Act, 2002. provide reasons for your ans. The details of his sales and purchases are as under: 10
*

Purchases

Sales

Month Taxable
Rs. Tax Free
Rs. Taxable
Rs. Tax Free
Rs.
February 2006 8,000 50.000 4,000 95,000
March 2006 3,000 32,000 5,000 45,000
April 2006 4,000 2,10,000 1,000 3,05,000
May 2006 5,000 1,75,000 6,000 1,90,000
June 2006 2,000 2,00,000 2,000 2,10,000
July 2006 4,000 2,50,000 5,000 2,75,000
August 2006 4,000 1,70,000 4,000 1,90,000
September 2006 6,000 1,80,000 8,000 2,20,000

OR

compute the Set Off and Tax Payable under MVAT Act 2002 from the subsequent details of August 2006 of M/s. Ragnekar Associates.
Particular Total
Rs.
Local purchases from Registered Dealers 12,00,000
Purchases from Unregistered Dealers 2,00,000
Sales Price of Goods 20,00,000
Inter State Stock Transfer 4,00,000
*

The ratio of Stock Transfer to total sales 20%. M/s. Ragnekar Associates had an Opening Balance (Credit) in VAT Credit Receivable Account of Rs. 12,500.


March 2007
Time: three Hours
Marks: 100
NB:

1. ques. No. one is compulsory carrying 18 marks. Attempt any three ques. carrying 14 Marks every from ques. Nos. two to six from part I .
2. Attempt ques. No. seven & ques. No. eight carrying 10 marks every from part II.
3. All the parts should be written in the identical ans book.

part I

* Q.1 From the subsequent Income and Expenditure Account of Dr. Kamble calculate his total taxable income for Assessment year 2006-07. 18

Earning:   Approval pending.