Name of the University : Alagappa University
Degree : M.Com
Subject Code/Name : Indirect Taxes
Year : II
Semester : IV
Document Type : Model Question Papers
Website : alagappauniversity.ac.in
Download Model/Sample Question Paper : APRIL 2010 : https://www.pdfquestion.in/uploads/alagappauniversity.ac.in/3905.-MCOM.pdf
Alagappa Indirect Taxes Question Paper
Duration : 3 Hours
Maximum : 75 Marks
Part – A :
Related : Alagappa University Accounting And Financial Management M.Com Model Question Papers : www.pdfquestion.in/4040.html
1. Define ‘sale’ under CST Act 1956.
2. Who is a dealer –
3. What is taxable turnover under TNGST Act –
4. What do you mean by VAT –
5. Define Service tax.
6. Why is Service tax charged –
7. What is ‘Excise Duty’ –
8. Define Advalorem duty.
9. What is specific duty and tariff –
10. Define Customs duty
Part – B : (5× 5 = 25)
Answer All the questions.
11. (a) List out the salient features of CST Act. Or
(b) What is meant by inter State sale ?
12. (a) Define the following terms as per TNGST Act. (i) Dealer. (ii) Turnover. Or
(b) State the features of VAT.
13. (a) Mention any five services which are covered by Service Tax. Or
(b) Narrate the objectives of Service Tax Act.
14. (a) What are the merits of advalorem duty ? Or
(b) Explain the concept of goods under Excise Duty Act.
15. (a) Describe the objectives of Customs Duty Act. Or
(b) What are the reasons for prohibiting imports under Customs Duty Act ?
Part – C : (3 × 10 = 30)
Answer any Three questions.
16. Explain the procedure for Levy and Collection of Sales Tax.
17. What are the merits and demerits of VAT ?
18. Discuss the backround and procedures to be followed in Service Tax Act 1994.
19. What is CENVAT scheme ? Differentiate between MODVAT and CENVAT.
20. Narrate the different types of Customs Import Duties.
Advanced Corporate Accounting
M.Com. Degree Examination, April 2010 :
First Semester : Commerce
(CBCS—2008 Onwards)
Duration : 3 Hours
Maximum : 75 Marks
Part – A (10 × 2 = 20)
Answer all the Questions
1. Define Equity Share.
2. What do you mean by Underwriting ?
3. How is time ratio calculated ?
4. What is meant by proposed divident ?
5. Give the meaning of ‘Amalgamation by Purchase’.
6. Write a note on ‘Internal Reconstruction’.
7. Explain the meaning of ‘Contributory’.
8. Who is a Liquidator ?
9. Explain ‘Intrinsic value of share’.
10. How do you ascertain ‘Super Profit’ ?
Part – B : (5 × 5 = 25)
Answer all the Questions Choosing (a) or (b)
11 a. When can shares be forfeited ? Can forfeited shares be reissued at discount ?
(Or)
11 b. A Ltd issued a prospectus inviting applications for 40,000 equity shares of Rs. 100 each. The whole issue was fully underwritten by three underwriters as follows : Mani = 20,000 Shares; Pandian = 14,000 Shares; Ganesh = 6,000 Shares; Applications were received for 32,000 shares of which marked applications were as follows; Mani = 15,200 Shares; Pandian = 8,080 Shares; Ganesh = 6,720 Shares. State how the liability of the underwriters is Computed.
12 a. What is managerial remuneration ? Explain.
(Or)
b. ‘AM Private Ltd. was incorporated on 1-7-2008 to take over the business carried on by ‘SR’ & Co. as a going concern with effect from 1-4-2008. The following is the profit and Loss account for the year ended 31-3-2009 of ‘AM’ Private Ltd.
13 a. Distinguish between Merger method and purchase method of Accounting for Amalgamation.
(Or)
b. The following is the Balance Sheet of Weak Co. Ltd. as on 31st March 2009. The approval of the court was obtained for the following scheme of reduction of capital.
a) The equity shares to be reduced to Rs. 4 per share.
b) Plant and Machinery to be written down to Rs. 1,50,000.
c) Stock to be revalued at Rs. 1,40,000
d) The provision on debtors for doubtful debts to be created Rs. 2,000
e) Land to be revalued at Rs. 1,42,000. Pass journal entries to give effect to the above arrangement
14 a. Give some guidelines for calculating the remuneration due to the liquidator.
(Or)
b. From the following details ascertain unsecured creditors to be shown in statement of affairs
15 a. X Ltd has 10,000 equity shares of Rs. 10 each, Rs. 8 paid and 1,00,000 6% preference shares of Rs. 10 each fully paid. The company has a practice of transferring 20% of the profit to General reserve every year.
The expected profit (based on past year’s performance) before tax is Rs. 2,00,000 and the rate of tax is 50%. You are required to calculate the value of equity shares. It may be assumed that normal rate of dividend is 20%.
(Or)
b. From the following particulars, find out the value of goodwill as per Annuity method.
a) Capital Employed Rs. 3,00,000.
b) Normal rate of return -10%
c) Present value of Re. 1 for 5 years at 10% at 3.78
d) Normal profit for 5 years.
I Year Rs. 30,000
II Year Rs. 32,000
III Year Rs. 34,000
IV Year Rs. 36,000
V Year Rs. 38,000
Non-recurring income Rs. 1,600
Non-recurring expenses Rs. 1,000