Taxation Direct and Indirect

 

NMIMS Global Access

School for Continuing Education (NGA-SCE)

Course: Taxation- Direct and Indirect

Internal Assignment Applicable for December 2023 Examination

Assignment Marks: 30

Instructions:

All Questions carry equal marks. All Questions are compulsory

All answers to be explained in not more than 1000 words for question 1 and 2 and for question 3 in not more than 500 words for each subsection. Use relevant examples, illustrations as far as possible.

All answers to be written individually. Discussion and group work is not advisable.

Students are free to refer to any books/reference material/website/internet for attempting their assignments, but are not allowed to copy the matter as it is from the source of reference.

Students should write the assignment in their own words. Copying of assignments from other students is not allowed.

Students should follow the following parameter for answering the assignment questions.

For Theoretical Answer

Assessment Parameter	Weightage
Introduction	20%
Concepts and Application	60%
related to the question
Conclusion	20%

For Numerical Answer

Assessment Parameter	Weightage
Understanding and usage	20%
of the formula
Procedure / Steps	50%
Correct Answer &	30%
Interpretation

1. What is the idea of “Residential Status” in direct taxes on individuals, and how does it affect a taxpayer’s (both resident and non-resident) tax liability in India? (10 Marks)

 

NMIMS Global Access

School for Continuing Education (NGA-SCE)

Course: Taxation- Direct and Indirect

Internal Assignment Applicable for December 2023 Examination

1. What is the GST (Goods and Services Tax) notion of “Supply” in India, and how does it establish the taxability of transactions within the GST framework? Explain the

distinction between VAT and GST. (10 Marks)

1. XYZ Electronics Pvt. Ltd. is a Mumbai-based electronic gadget company. They just received an order for 1000 units of their latest smart phone model from a dealer in another state. The selling price per unit is INR 15,000, with a 12% GST rate. XYZ Electronics Pvt. Ltd. is interested in learning about the GST consequences of this interstate sale. Can you answer the following questions for them?
2. What type of supply does this transaction fall under and how will it be treated under

GST? (5 Marks)

1. What is the GST liability for XYZ Electronics Pvt. Ltd. on this sale, and how will they

calculate the tax amount? (5 Marks)

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