M.B.S. (Semester – I),CNO 103 (Fin) : Finance Specialization – I,University Of Pune Question Paper,2014 Question Paper

University Of Pune Question Paper
M.B.S. (Semester – I) Examination, 2014
(2013 Pattern)
CNO 103 (Fin) : Finance Specialization – I
INDIRECT TAXATION
Time : 2½ Hours Max. Marks : 50
 Instructions : 1) All questions are compulsory.
2) Each question has an internal option.
3) Each question carries 10 marks.
4) Figures to the right indicate marks for that question/sub-question.
5) Your answers should be specific and to the point.
6) Support your answers with suitable live examples.
7) Draw neat diagrams and illustrations supportive to your answer.
8) Use of calculators is permitted (as applicable).
1. a) Briefly enumerate the constitutional restriction of Taxing Powers of Central and State.
OR
b) Distinguish between Direct and Indirect Taxes.
2. a) Define the term ‘Manufacture’ and state the provisions relating to Registration of Manufacture
goods under Central Excise Act, 1944.
OR
b) Explain any two of the following with reference to CEA, 1944.
1) Valuation of Excisable Goods
2) Non-Reversal of CENVAT goods
3) Doctrine of Unjust Enrichment
4) Daily stock account.
3. a) Briefly explain the nature and significance of levy of Anti-Dumping Duty under Customs
Tariff Act 1945.
OR
b) What is the purpose of safeguard duty ? What are the restrictions of WTO in respect of
safeguard duty ?
Seat
No.
P.T.O.
[4674] – 104 -2-
4. a) Explain any two of the following with reference to service tax.
1) Furnishing of Returns
2) Exemptions of taxable service including Cenvat credit.
OR
b) Discuss the charge of Service Tax on services received from outside India.
5. a) Define the term ‘Goods’. When is a sale or purchase of goods said to be take place
outside a State under the Central Sales Tax Act, 1956.
OR
b) ‘Tax Credit’ or ‘Invoice Method’ has been adopted universally because of the inherent
advantages in the credit method of calculating tax liability. Explain.
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