Question #2 Revisit Q7. (a) Explain the provisions regarding claiming of Input Tax Credit. Explain the cases in which Input Tax Credit is not available. (4) (b) From the following particulars, compute the taxable value of supply as per Rule 30 of the CGST Rules Direct material consumed (inclusive of IGST @ 18%) 2,36,000 Direct labour 1,60,000 Other direct expenses 40,000 Indirect material 25,000 Factory overhead 80,000 Administrative overhead (20% relating to production capacity) 1,50,000 Selling and distribution expense 1,25,000 Quality Control 36,000 Realisable value of scrap/wastage 20,000 Profit Margin 18% (4) les du Sud Rs. SL. Particulars 1 Profit from unit established in special cconomic zone 2 Share in income of an AOP as a member 3 Income from units of UTI 4 Long term capital gains on sale of building 5,00,000 1,00,000 75,000 3,00,000 Olomon Deprecation de 150.000 an account of the offer Depona per income is 200 000 forward tons of 10 wachtwood costs b) The Norwich the companya member to down to Price income to Rs 45.000 obrestante Computer x 11620 of the entix Act, 2003. AY 2020 21 and on the formation Today he company is and considering a main productes faces and to the following on Particulars Alterative Alternative II Altemative III Rs. Rs. Rs. Share capital 10,00,000 20,00,000 50,00.000 149 Debentures 15.00,000 20,00,000 1896 Loan from 25,00.000 10,00.000 Bank Boedod toneftum before fois of onde com 2000 notes on 22nd of donded on www ya Corporate we to?) Question #2 Revisit Q7. (a) Explain the provisions regarding claiming of Input Tax Credit. Explain the cases in which Input Tax Credit is not available. (4) (b) From the following particulars, compute the taxable value of supply as per Rule 30 of the CGST Rules Direct material consumed (inclusive of IGST @ 18%) 2,36,000 Direct labour 1,60,000 Other direct expenses 40,000 Indirect material 25,000 Factory overhead 80,000 Administrative overhead (20% relating to production capacity) 1,50,000 Selling and distribution expense 1,25,000 Quality Control 36,000 Realisable value of scrap/wastage 20,000 Profit Margin 18% (4) les du Sud Rs. SL. Particulars 1 Profit from unit established in special cconomic zone 2 Share in income of an AOP as a member 3 Income from units of UTI 4 Long term capital gains on sale of building 5,00,000 1,00,000 75,000 3,00,000 Olomon Deprecation de 150.000 an account of the offer Depona per income is 200 000 forward tons of 10 wachtwood costs b) The Norwich the companya member to down to Price income to Rs 45.000 obrestante Computer x 11620 of the entix Act, 2003. AY 2020 21 and on the formation Today he company is and considering a main productes faces and to the following on Particulars Alterative Alternative II Altemative III Rs. Rs. Rs. Share capital 10,00,000 20,00,000 50,00.000 149 Debentures 15.00,000 20,00,000 1896 Loan from 25,00.000 10,00.000 Bank Boedod toneftum before fois of onde com 2000 notes on 22nd of donded on www ya Corporate we to?)
