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Course: Taxation – Direct and Indirect
NMIMS September 2018 solved assignments: Contact us at assignmentssolution@gmail.com

1. Mr. Kumar is a small trader. His annual turnover has never exceeded Rs. 1500000 during the last 5 years. In the earlier indirect tax regime, he did not have any VAT or Service Tax registration. He is undecided whether to register for GST, and has approached you for guidance. Prepare a detailed report, advising him regarding benefits of GST Registration. (10 Marks)
2. Ravi has two houses, both of which are self occupied. The particulars of the houses for Previous Year 2017 – 18 are as under:
Particulars
House I
House II
Municipal Value per annum
100000
150000
Fair Rent per annum
75000
175000
Standard Rent per annum
90000
160000
Date of Completion
31.03.1999
31.03.2001
Municipal taxes paid during the year
12%
8%
Interest on money borrowed for repair of property
NIL
55000
Compute Ravi’s income from house property for the Assessment Year 2018 – 19 and suggest which house should be opted by Ravi to be assessed as self occupied to minimize his tax liability. (10 Marks)
3. A) Joseph, a foreign citizen, visits India since 1995 every year for a period of 100 days. Determine the residential status of Joseph for the assessment year 2018-19? (5 Marks)

NMIMS September 2018 solved assignments: Contact us at assignmentssolution@gmail.com