GST Titan Quiz

Grand Biz contracts with ABC Co. to conduct a dealers’ meet. In furtherance of this, Grand Biz contracts with vendors to deliver goods / services, like water, soft drinks, audio system, projector, catering, flowers etc. at the venue on the stipulated dates at the stipulated prices. Grand Biz is liable to make these payments as contracted. The soft drinks supplier wants payment upon delivery; ABC Co. agrees to pay the bill raised by the soft drinks vendor on Grand Biz, on receiving the crates of soft drinks. This amount is not billed by Grand Biz to ABC Co. Whether payment made by ABC Co. to Soft drinks supplier would be added to the value of supply provided by Grand Biz to ABC Co. for payment of GST?

• Yes
• No

Yogrishi rents out a commercial building owned by him in Sanskriti Society, Noida, U.P. to Bhaarat for a monthly rent of Rs. 1,00,000. He pays municipal tax of Rs. 20,000 which he has not recovered from Bhaarat. Yogrishi also pays the maintenance charges of Rs. 5,000 (reimbursed to him by Bhaarat) for the month as charged by the Society. The value of supply for the month of January is ___________. All the amounts given hereunder are exclusive of GST.

• Rs. 1,00,000
• Rs. 1,20,000
• Rs. 1,25,000
• Rs. 1,05,000

Sapiant Ltd., registered under GST, supplies machinery used for making bottle caps to Chandra Ltd. at a price of Rs. 42,00,000 (excluding all taxes and other expenses). Apart from the price of the machinery, Sapiant Ltd. charges from the customer the associated handling and loading charges of Rs. 10,000 and installation and commissioning charges of Rs. 1,00,000. The value of supply of machinery is ______________.

• Rs. 42,00,000
• Rs. 43,10,000
• Rs. 43,00,000
• Rs. 42,10,000

Bhoora Ltd., a registered supplier in Surat, Gujarat sold goods to Kaala Ltd. of Delhi on 6th April for Rs. 5,00,000 (excluding GST) with a condition that if Kaala Ltd. failed to make payment within 30 days of the delivery of the goods, interest @ 2% per month on said price of Rs. 5,00,000 will be charged for the period of delay.  Goods were delivered and the invoice was issued, on 6th April. Kaala Ltd. paid the consideration for the goods on 20th May along with applicable interest.  Kaala Ltd. refused to pay any tax payable on the interest amount. Applicable rate of GST in this case is 18%. The value of supply, in the given case, is _________.

• Rs. 5,00,000
• Rs. 5,05,000
• Rs. 5,04,237
• Rs. 5,95,900

Dhara Private Ltd. is engaged in supply of taxable goods. In the current month, it supplied 1,000 units of such goods to Jal & Co. at a unit price of Rs. 250 & 5,000 units to Vayu & Co. at a unit price of Rs. 230. It has received a subsidy of Rs. 1,00,000 from a NGO,Urja, for the current month for the energy conserved by during the month. The value of supply of goods to Jal & Co. and Vayu & Co. is_________and_________respectively.

• Rs. 2,50,000; Rs. 11,50,000
• Rs. 2,50,000; Rs. 12,50,000
• Rs. 3,50,000; Rs. 11,50,000
• Rs. 3,00,000; Rs. 12,00,000

Sapiant Ltd., registered under GST, supplies machinery used for making bottle caps to Chandra Ltd. at a price of Rs. 40,00,000 (excluding all taxes and other expenses). A cash discount of 2% on the above price of the machinery is offered at the time of supply since Chandra Ltd. agrees to make the payment within 15 days of the receipt of the machinery at its premises. Sapiant Ltd. receives a price linked subsidy of Rs. 2,00,000 from its holding company Diligent Ltd. The value of supply of machinery is ______________.

• Rs. 39,20,000
• Rs. 42,00,000
• Rs. 41,60,000
• Rs. 41,20,000

Sharp Minds Institute provides coaching for engineering entrance examinations. The monthly fee charged by the Institute from a student is Rs. 10,000. The Institute is known for its commitment to provide education to underprivileged children. It trains 10 students every year for entrance examinations free of cost. The Institute has received Rs. 3,00,000 as coaching fees during a month. Nav Jeevan, an NGO working in the area of education for underprivileged children, has given a subsidy of Rs. 10,000 (in lumpsum) during the month to the Institute as it is serving the cause of underprivileged children. Determine the value of supply of education services made by Sharp Minds Institute during the month.

• Rs. 3,00,000
• Rs. 2,90,000

Furniture Wala is a chain of retail showrooms selling both modern and classic furniture. In order to build strong customer association, the showroom provides free delivery of the furniture at the premises of the customers if the distance between the showroom and the customer’s premises is upto 20 kms. Where the distance is more than 20 kms, the showroom charges a concessional freight of Rs. 10 for every additional km. Ms. Leena Kapoor purchases a double bed, a dressing table and a centre table for Rs. 2,00,000 from Furniture Wala. The residence of Ms. Leena is located at a distance of 18 km from the showroom. The showroom incurs an expenditure of Rs. 1000 for delivering the furniture at Ms. Leena’s residence. Determine the value of taxable supply made by Furniture Wala.

• Rs. 2,00,000
• Rs. 2,01,000

Furniture Wala is a chain of retail showrooms selling both modern and classic furniture. In order to build strong customer association, the showroom provides free delivery of the furniture at the premises of the customers if the distance between the showroom and the customer’s premises is upto 20 kms. Where the distance is more than 20 kms, the showroom charges a concessional freight of Rs. 10 for every additional km. Ms. Leena Kapoor purchases a double bed, a dressing table and a centre table for Rs. 2,00,000 from Furniture Wala. The residence of Ms. Leena is 50 km away from the showroom. The showroom incurs an expenditure of Rs. 1000 for delivering the furniture at Ms. Leena’s residence. Determine the value of taxable supply made by Furniture Wala.

• Rs. 2,00,000
• Rs. 2,01,000
• Rs. 2,01,300
• Rs. 2,00,300

Mezda Banners, an advertising firm, gives its customers an interest-free credit period of 30 days for payment. Its customer ABC paid for the supply 32 days after the supply of service. Mezda Banners waived the interest payable for a delay of two days. The Department wants to add interest for two days to the value of supply. Should notional interest be included in the value?

• Includible
• Not Includible