Today's indirect tax paper

Page no : 2

sharique (Student CA Final ) (51 Points)
Replied 16 November 2017

Tia...I think under the notification that was given, the principal shall be liable to pay service tax. Hence included

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Sumit Behal (2 Points)
Replied 17 November 2017

arbitral is ecempt.... its exclusiin from definitiin of swrvice

(Guest)

1) arbitral to arbitral is like service to self even if different branch / office. hence it is not taxable.

2) Q1 a) job work amount should not be included in valuation because it is under exemption notification, even manufacturer is not liable to pay duty for it. Option I to select SSI exemption should be choosen as entire 150 lakhs turnover will be exempt by way of basic exemption of SSI unit. If he do not avail SSI exemption then duty is payable after setting off cenvat credit.

1 Like

Tia maanu (student) (51 Points)
Replied 17 November 2017

exactly.. that notification is an exemption notification

Narendra mahadev hegde (ARTICLESHIP STUDENT) (246 Points)
Replied 17 November 2017

duty payable on 150 lakhs because of brand name of others will not be eligible for exemption notification....job work not be considered...

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khader (student) (44 Points)
Replied 17 November 2017

@ narendra plz check it out was it "brand of others" or "BRAND OF HIMSELF"

Narendra mahadev hegde (ARTICLESHIP STUDENT) (246 Points)
Replied 17 November 2017

brand name of others....

Wasim Mohamed (Student) (158 Points)
Replied 17 November 2017

It felt easy on first viewing. But as I began to write, it got so confusing ! And Qn 1 (a), I included job work charges in valuation because I thought job work under notification 214 is to be excluded only when calculating the limit of 400 lakhs. Anyways, hoping for some marks for the remaining part of answer.

(Guest)

its brand of himself. so its own brand name. exemption is always valid. its clearly mentioned in question that its his brand. restriction is only on using other's brand name.

(Guest)

@ Narendra - duty is not at all payable because its his own brand name. wording is "Mr Premkumar planned to manufacture one lakh switches under the brand name "sketches" registered under HIS NAME during 2016-17" this clearly proves that its his own brand name. so its alwasys eligible for exemption upto 150 lakhs if SSI option selected. Hence its better for him to avail SSI exemption.

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Narendra mahadev hegde (ARTICLESHIP STUDENT) (246 Points)
Replied 17 November 2017

totally very confused in exam.ha...forget it....

Prabhat Modi (Student) (301 Points)
Replied 17 November 2017

todays idt paper was just like a famous song of Jagjit singh "जाते जाते तुमने आवाज तो दी होती"

1 Like

Anmol Davesar (Chartered Accountant) (818 Points)
Replied 17 November 2017

Hahahahha prabhat too good

Rahul Sharma (41 Points)
Replied 22 November 2017

Your whole answer will not be striked out as u have not added cess are you talking about the 5 marks question for calculation of interest or the 4 marks questions of custom duty calculation? Anyhow you still will get some marks say 1 or 2 not full