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CA Final Place of Supply — practice questions — page 3

Explore 81 free Place of Supply questions in CA Final Indirecttaxlaws. Open each question or exercise to read its content, reference answers and available explanation.

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Place of Supply questions and exercises with answers

Showing questions 61–81 of 81.

The value of a supply under section 15 is generally theRead the answer and worked solution →Transaction value applies only if the parties are not related and the price is theRead the answer and worked solution →Which levy is added to value if charged separately?Read the answer and worked solution →An expense of the supplier paid by the recipient and not in the price isRead the answer and worked solution →Subsidies are included in value except those fromRead the answer and worked solution →A discount recorded in the invoice at the time of supply isRead the answer and worked solution →A post-supply discount is excluded only if the recipient has reversedRead the answer and worked solution →If value cannot be determined under section 15(1), it is determinedRead the answer and worked solution →Persons are related if one owns or holds at least this much of both firms' voting stockRead the answer and worked solution →Which pair is deemed related persons for section 15?Read the answer and worked solution →Legally recognised partners in business areRead the answer and worked solution →An employer and employee areRead the answer and worked solution →A sole agent and the principal he represents areRead the answer and worked solution →Two persons who are both controlled by a third person areRead the answer and worked solution →Members of the same family areRead the answer and worked solution →A composite supply is one whose supplies areRead the answer and worked solution →Packing, transport and insurance with goods are a composite supply. The principal supply isRead the answer and worked solution →A mixed supply is a combination supplied for a single price which isRead the answer and worked solution →A gift pack of canned food, sweets, drinks and juices for one price is aRead the answer and worked solution →A mixed supply is taxed at the rate of theRead the answer and worked solution →A principal supply is the predominant element to which others areRead the answer and worked solution →

Worked practice questions

The value of a supply under section 15 is generally the

  1. open market value
  2. book value of goods
  3. cost price plus margin
  4. transaction value
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Correct answer: D. transaction value

Section 15(1) makes the price actually paid or payable the value when the parties are unrelated and price is the sole consideration.

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Transaction value applies only if the parties are not related and the price is the

  1. sole consideration
  2. market price paid
  3. lowest quoted price
  4. price after discount
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Correct answer: A. sole consideration

Both conditions must hold for the transaction value to be accepted: parties unrelated and price the sole consideration.

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Which levy is added to value if charged separately?

  1. Central GST under this Act
  2. Customs duty under other law
  3. State GST under this Act
  4. Compensation cess to States
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Correct answer: B. Customs duty under other law

Taxes and duties under other laws are added, but CGST, SGST, UTGST and the Compensation Cess are excluded.

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