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Posted By: Praveen Kumaar Member Level: Gold Posted Date: 27 Mar 2008
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2004 ICSI Final - Old Syllabus - Dec 2004 Question paper
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Old Syllabus - December 2004
Answer 6 questions, including question No. 1 which is compulsory.
Q 1 State whether the following statements are correct quoting applicable statutory provisions and case laws, if any. Attempt any four : (i) Atul, located in Mumbai, purchases goods from Bobby, located in Nagpur. The goods are manufactured in Nagpur. However, Atul requests Bobby to consign the goods to his location at Delhi on payment of central sales tax. Atul cannot do so. (ii) Amar manufactures goods in Pune and transfers stock to his depot in Chennai. He pays central excise duty on the selling price at the depot claiming deduction of the transportation cost from the factory to depot. (iii) CENVAT credit is available on all inputs used in finished goods immediately. (iv) Jolly, located in Jaipur, purchases goods from Harsh, located in Hyderabad, on payment of central sales tax, takes delivery and immediately sells these goods to Chander, located in Coimbatore, without charging central sales tax by using Form E-I/Form E-II. (v) Customs duty is payable on erection and commissioning charges when the imported goods are erected in India. (5 x 4 = 20 marks)
Q 2 (a) ISPL Ltd. manufactures tailor-made machines as per the specifications and designs of their customers. The company takes 50% of the price of such machines as an advance, free-of-interest from their customers. The central excise officer wants to include the notional interest on such advance in the assessable value of the machines manufactured and cleared by ISPL Ltd. Discuss with the help of case law whether notional interest is includible in the assessable value of machines (b) Is the cost of ‘packing’ supplied free by the customers includible in the value of excisable goods? (c) Whether cleaning, cutting and heat treatment of high speed steel bars amounts to manufacture for the purpose of levying the central excise duty? (6+5+5 = 16 marks)
Q 3 (a) Whole-time director of your company desires that you should prepare a brief note for the Board meeting that should discuss ‘how the excise laws deal with the offences committed by companies’. Prepare a brief note (b) Your manager (imports) is in Moscow. He has finalised a throw away price deal of non-ferrous metal waste at an exceptionally low price. Your managing director wants your quick advice on whether this price would be acceptable for the purpose of valuation under the Customs Act, 1962. Give your advice, with support of settled case law, if any. (c) Vishwas, your old classmate, operates a manufacturing unit having two factories with turnover of Rs. 180 lakh and Rs. 145 lakh respectively in the previous year. He seeks your advice whether his unit is eligible for exemption as is available to SSI units as per exemption notifications. (d) Your sales manager is on the verge of quoting rates for a big order and seeks your advice as to whether the ‘warranty charges or after sales service charges that are optional would be includible in the assessable value’. Advise with reference to the provisions of the Central Excise Act, 1944 and the Central Excise Valuation (Determination of Price of Excisable Goods) Rules, 2000 (6+4+3+3 = 16 marks).
Q 4 (a) If a product was sold at Rs. 500 per piece inclusive of sales tax @ 10% and excise duty as per an exemption notification @ 8% (though the tariff rate of excise duty is 16%), what would be – (i) the assessable value per piece; and (ii) the duty payable per piece? (b) A technician of your foreign collaborator landed in India and was searched by the officials of the customs department. Your collaborators are concerned about the matter. Prepare a note explaining the statutory provisions under the Customs Act, 1962 regarding power of the officials to search suspected persons entering or leaving India. (c) What are the emergency powers of the Central Government to increase duty of excise? (6+5+5 = 16 marks)
Q 5 (a) You are the Company Secretary of a multinational company. The Indian company has entered into a technical collaboration with its parent company in United Kingdom for which it is paying royalty and a know-how fee. The Indian company also imports raw materials from the parent company. The Commissioner (Customs) has issued a show cause notice seeking to add the royalty and know-how fee to the transaction value of the imported raw materials. Make suitable assumptions and draft a reply to the notice in defence of the company. (b) Glow More Ltd. declared the goods imported by them as heavy melting scrap which is used to retrieve metal by the process of melting. On examination of the consignment, the customs officer found that pack of consignment was old and used angles, rods and pipes. The customs officer wants to confiscate the entire consignment on the ground that the goods are serviceable goods and as such are not melting scrap. The importer, on the other hand, contends that sale and purchase of the goods was as melting scrap and no portion of the goods had been bought as angles, rods and pipes and there is no evidence with the department to controvert the same. The importer also offers the mutilation of the goods before their clearance. Decide as to whether the goods are liable for confiscation for being mis-declared by Glow More Ltd. (c) Blackkol Ltd. imported coal from a foreign country. The customs department wants to levy additional customs duty under section 3 of the Customs Tariff Act, 1975. The importing company contests the levy of additional customs duty on the ground that the coal is an item which is neither produced nor manufactured and as such central excise duty under the Central Excise Act, 1944 is not leviable and accordingly additional customs duty equivalent to central excise duty will also not be leviable. Examine the rival contention and offer your views with the help of decided case law, if any. (8+4+4 = 16 marks)
Q 6 (a) Whether the Commissioner (Appeals) under the provisions of section 128A of the Customs Act, 1962 can remand the matter to the adjudicating authority for re-adjudication? (b) What are the orders passed by the appellate tribunal against which appeal will lie to the High Court under the provisions of the Customs Act, 1962? (c) Mention the provisions relating to imposition of fine in lieu of confiscation of the goods under the Customs Act, 1962 (d) Write a note on ‘temporary detention of baggage’ under the Customs Act, 1962 (4x 4 = 16 marks)
Q 7 (a) Under what circumstances bar of ‘unjust enrichment’ will not apply to refund of customs duty and the amount of duty shall be paid to the applicant (b) Answer the following questions in ‘yes’ or ‘no’ citing relevant section(s) of the Customs Act, 1962: (i) No duty drawback shall be allowed in respect of goods, the market value of which is less than the amount of duty drawback due thereon (ii) The Central Board of Customs and Excise appoints customs ports or customs airports (iii) The Central Government declares places to be warehousing stations (iv) A passenger can bring articles upto a value of Rs. 25,000 duty free, if returning after a stay abroad of more than 3 days (c) Balaji Traders, Nagpur, have made various sales as under: (i) Sale of Rs. 5 lakh against Form-H. (ii) Sale of Rs. 3 lakh as direct export in their names. (iii) Buyers had issued Form-D in respect of sale of Rs. 2 lakh. (iv) One Form-C was lost in respect of sale of Rs. 1.50 lakh. The buyer had sent a Xerox copy duly certified by his sales tax officer. (v) One Form-C was misplaced in post covering sale of Rs. 70,000. The buyer had sent another Form-C marked as ‘duplicate’. (vi) One Form-C was received in respect of one invoice of Rs. 4.50 lakh. If goods are sold within Maharashtra, the local sales tax rate is 15%. You are required to find out central sales tax rates applicable to different sales (6+4+6 = 16 marks).
Q 8 (a) Your employer, who is not very successful in the current line of business activity, intends to ‘change the goods dealt with’ and seeks your opinion as to whether there would be a need to get the ‘central sales tax registration certificate’ amended. Provide opinion detailing the circumstances where amendment is required in the sales tax registration certificate. (b) Illustrate any four ‘inter-State consignment transactions’ under the sales tax laws and discuss the present provisions of levy of central sales tax thereon. (c) Define the following terms under the Central Sales Tax Act, 1956: (i) Place of business (ii) Year. (d) What are the benefits of obtaining a registration by a dealer under the Central Sales Tax Act, 1956? (4 x 4 = 16 marks)
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