Taxation-II

St. Joseph’s College of Commerce VI Sem Taxation – II Question Paper PDF Download

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ST. JOSEPH’S COLLEGE OF COMMERECE (AUTONOMOUS)

end semester examination – MARCH / april 2015
B.Com (T. & T.) –VI SEMESTER
 C2 12 601: TAXATION – II
Duration: 3 Hours                                                                                          Max. Marks: 100
SECTION – A
I) Answer ALL the questions.  Each carries 2 marks.                                     (10×2=20)
  1. Name any two transactions that qualifies for deduction U/S 80C.
  2. Mr. Ali’s (Ordinary resident, age 42 years) total income for PY amounts to Rs. 5,20,000, compute the his tax liability for AY 2014-15.
  3. In what ways indirect tax is different from direct tax?
  4. Define restaurant services as per section 65(105).
  5. During the previous year 2013-14, Mr. Kumar received following gifts. Ascertain the total amount of gift charged to tax.

  1. Gift of Rs. 84,000 from his father.
  2. Gift of Rs. 55,200 received from his friend on his birthday.
  3. Rs. 30,000 received from his friends on the occasion of marriage anniversary
  6. Who presents the annual finance budget in parliament? Name the person.
  7. Write a note on entertainment tax.
  8. State whether the following are capital assets or not

  1. Wearing appeals
  2. Agricultural Land situated in urban area
  9. What do you mean by Sub-letting?
  10. Mention the rules for grossing up interest on bank deposits.

 
SECTION – B
II) Answer any FOUR questions.  Each carries 5 marks.                                    (4×5=20)
  11. Mr. Babu purchased a residential house in Bangalore on 1-4-1979 for Rs. 50,000 and added 1st floor in 1980 at a cost of Rs. 10,000. On 1st December 1990 he gifted the house to his Son Mr. Dabu, who added two rooms in June 1993 at a cost of Rs. 40,000. On 1st November 2013 Mr. Dabu sold the property for Rs. 40,00,000. Find out the taxable amount capital gain if the fair market value of the property as on 1-4-1981 was Rs. 1,50,000. [CII 2013-2014=939, 1993-94=244, 1990-91=182 and 1981-82=100].

 
  12. Mrs. Madhumalati investments during the year ended 31-3-2011 consisted of the following:

  1. Rs. 30,000 (13.5%) securities of a Reliance industries limited (Listed)
  2. Rs. 35,000 (11%) securities of TATA steel limited (Listed)
  3. Rs .3,350 received as interest on securities of Infosys Limited (listed)
  4. Rs.  7,000 received as interest on Karnataka Government bonds.

 

  1. Rs. 6,000 received as interest on tax free Public limited company securities (Listed).

She paid Rs. 150 as commission for collecting the interest on above mentioned securities. Compute her income from other sources.
   

13.

  

Taj Hotel has received following amounts from various clients

  1. Renting of a guest house (Rent above 100 per day) Rs. 10,00,000
  2. Serving of food or beverages by a restaurant (Having licence to serve alcoholic beverages) Rs. 20,00,000
  3. Marriage hall (having the facility of air conditioning) Rs. 20,00,000

Calculate the service tax payable.

 
  14. Calculate the deduction available under section 80C and the taxable income of Sam, having gross total income of Rs. 6,60,000 and he makes the following expenses:

School fees of his 4 children Rs 50,000

Life insurance for wife and kids Rs 10,000 (Sum assured Rs. 10,000)

Life insurance for parents Rs 15,000 (Sum assured Rs. 10,000)

 
  15. Compute tax liability of Mr. X for the AY 2014-15, if his non-agricultural income is Rs 2, 90,000 and agricultural income is Rs 40,000.

 
  16. Briefly explain service tax registration procedure.

 
SECTION – C
III) Answer any THREE questions.  Each carries 15 marks.                             (3×15=45)                                                                                                 
  17. Mr. Gandhi (resident) gives you the following information. Compute his income under the head capital gains for the assessment year 2014-15.

  1. Agricultural land in Mumbai city purchased in 1998-89 for Rs. 2,25,000 (CII-351) has been sold for Rs. 10,50,000 on 1-8-2013 (CII-939) by paying Rs. 25,000 as brokerage. He purchased another agricultural land in village for Rs. 2,50,000 on 10-3-2014.
  2. Machinery purchased on 1-1-1999 for Rs. 40,000 (CII-351) is sold for Rs. 15,000 on 1-4-2013. The WDV of the machinery was Rs. 25,000.
  3. Sold his residential house for Rs. 36,00,000 on 31-12-2013 (CII 939). The house was gifted by his mother-in-law in july 1980. The house was purchased by her 1979 for Rs. 3,25,000 (FMV on 1-4-1981 was Rs. 3,00,000). Additions were made by him in Jan-1983 by spending Rs. 30,000 (CII 109). He purchased another residential house for Rs. 2,25,000 and deposited also Rs. 75,000 under capital gain account scheme on 30-3-2014.
  4. Debentures purchased in Dec-2009 for Rs. 30,000 were sold for Rs. 55,000 on 1-9-2013.
  5. Write a note on deduction u/s 54EC.

 

 

 
  18. Mr. Salman submits the following particulars of income from other sources for the year ended 31-3-2014.

  1. Family pension from Govt. of Karnataka Rs. 42,000
  2. Royalty from books written Rs. 20,000 (expenses incurred for this purpose Rs. 2,500).
  3. Remuneration from articles published in a Magazine Rs. 2000
  4. Cash worth Rs. 1,00,000 was found in his private locker, the source of which could not be explained by him.
  5. Interest on fixed deposit in a bank Rs. 15,000(gross)
  6. Rent from sub-letting a house Rs. 1,500pm (rent paid to the owner of the house Rs. 1,000pm and repair expenses Rs. 200.)
  7. Winning from lottery net Rs. 70,000 purchase of lottery Rs. 100)
  8. Winning from horse race Rs. 35,000(net)

Compute his taxable income from other sources for the A.Y 2014-2015.

 
  19. a)      Highlight VAT benefits to the Tourism Industry.

b)     Write short notes on Negative list and Mega Exemptions.

c)      Complete the following table:

Tax Point of Taxation Incidence of taxation
a)      VAT    
b)     Central Excise Tax    
c)      Service Tax    
d)     Luxury Tax    
e)      Entertainment Tax    
   

20.

  

Mr.Arora furnishes the following particulars of his income for the PY 2013-14, from which compute taxable Income from Other Sources.

Dividend received from UTI Rs 10,000
Net amount received as winning from horse race Rs 21,000
Winning from camel race (net) Rs 15,000
Winning from lottery  (net)

(Cost of lottery ticket was Rs 500, commission paid to lottery seller Rs 1000 out of prize money)

 Rs 70,000
Income tax refund (related to past year) Rs 10,000
Interest on income tax refund Rs 1,000
Amount won from T.V game show Rs 2,00,000
Interest on 8% Tax free Relief Bonds issued by RBI Rs 5,000
On 1/10/2013, he purchased 1,000, 8% debentures of Rs 100 each of Nirma Company from open market @ Rs 105. Dates of interest payment are 30 June and 31 December every year  
On 1/10/2013, he subscribed for 1,000, 10% debentures of Rs 100 each of Pearl Ltd. The date of interest payment is 31st March every year  
Interest received on Punjab Government Loan Rs 20,000
Interest received on 8% debentures of Phymox Ltd (unlisted co) Rs 4,500
Gift from father Rs 50,000
Family pension received Rs 48,000
He lives in a rented house paying rent @ Rs 10,000 p.m. He has sublet 1/3 portion of the house on a rent of Rs 4,500 p.m. The municipal tax Rs 6,000 and repairs of the whole house Rs 2,700 have been borne by him  
   

21.

  

Discuss major taxes applicable to the travel & tourism sector
 

SECTION – D
IV) Case Study                                                                                                            (1×15=15)                                                                                          
  22. The following are the different incomes earned by Prof. Jagadish during the PY 2013-14

  1. Salary from Loyala college for working as a full-time lecturer Rs. 25,00,000 p.a
  2. Income from agricultural land situated in Srilanka Rs. 65,000
  3. Income from sale of agricultural produce from a land Bangalore rural area Rs. 1,00,000
  4. Income from conducting quiz shows for school students Rs. 5000
  5. Income from his textile business Rs. 3,00,000
  6. Winnings from game shows Rs.15,000(net)
  7. Remuneration from Allianz university for working as part time faculty in Rs. 3,00,000p.a
  8. He also receives a family pension of Rs. 1,20,000 p.a  from Government of Karnataka
  9. Interest on tax free Government securities issued by central government Rs. 6,000
  10. Compensation received on account of maturity of Life insurance policy Rs. 1,00,000

During the PY he made following payments

  1. He made a fixed deposit of Rs. 10,000 in a nationalized bank for 6 years
  2. He purchased a National Savings Certificate from a post office worth Rs. 10,000
  3. Paid interest on Education loan taken for her daughters education Rs. 3,000
  4. Contribution towards his ICICI pension fund amounted to Rs. 50,000 during the PY

Task: You are required to:

  1. Classify these incomes under different heads provided in Income tax act 1961
  2. Compute his GTI and Total income
  3. Determine tax liability for the AY 2014-15.

 

 

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St. Joseph’s College of Commerce Taxation – II Question Paper PDF Download

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ST. JOSEPH’S COLLEGE OF COMMERCE (AUTONOMOUS)
END SEMESTER EXAMINATION – MARCH/APRIL 2016
B.COM (T.T.) – VI SEMESTER
 C2 12 601: TAXATION – II
Duration: 3 Hours                                                                                             Max. Marks: 100
SECTION – A
I) Answer ALL the questions.  Each carries 2 marks.                                        (10×2=20)
  1. Give four transactions which are not regarded as Transfer u/s 47.
  2. Find out the inflated cost for the A.Y 2015-16. Cost of the house purchased in 1976-77 for Rs.2,00,000 but FMV on 1.4.81 Rs.4,00,000.
  3. State the standard deduction for family pension received by the family members.
  4. If the net winnings from horse race is Rs. 2,10,000, Find the gross amount.
  5. Mention the provision of Section 80 DD.
  6. What are the twin benefits in respect of Interest on Post Office Savings Bank account?
  7. Give the provisions for set off and carry forward of Long term and Short term capital losses.
  8. What is Service Tax? What do you mean by Service?
  9. If ‘A’ purchases goods worth Rs. 20,000 from the manufacturer and adds value of Rs. 5,000, calculate the total sale price of the product, if VAT levied @ 12.5%.
  10. What is the proposal made by Finance Minister in Union budget 2016 regarding Sec 87A?
SECTION – B
II) Answer any FOUR questions.  Each carries 5 marks.                                      (4×5=20)
  11. From the following information relating to previous year 2014-15 compute capital gains of Mrs.Karishma.

  1. Purchased agricultural land(Agra city) in 1986-87 ( self-cultivated ) Rs.60,000
  2. Sold the land on 10.8.2014 for Rs.7,00,000
  3. Invested in purchase of a house on 10.9.2014 Rs.2,00,000
  4. Purchased another piece of agricultural land on 10.10.2014. Rs.1,50,000.
  5. CII = 1986-87 = 140, he does not own any other house.
  12. Compute income from other sources of Mr.Krishna, who held the following investments

a. Rs.11,000 , 10% Central Government Securities

b. Rs.36,000, 10% Tax-free commercial securities

c. Rs.6,300 received as interest on Tax free public limited company securities (listed)

d. Rs.7,200 received interest on Karnataka Government securities

e. Rs.4,000 received as interest on debentures of Deepak fertilizers (listed)

f. He also received the winnings from Karnataka State Lottery Rs.35,000

 

 
  13. Mr.X has a Gross Total Income of Rs.5,00,000 which included Rs.10,000 as long term capital gains for the A.Y 2015-16. During which year Mr.X made the following donations:

  1. National Defence Fund Rs.10,000
  2. Prime Minister’s National relief fund Rs.1,00,000
  3. To Family Planning Association of India Rs.10,000
  4. All India Congress Party ( Recognised political party ) Rs.1,00,000
  5. University of Allahabad ( Notified as Institute of National Eminence ) Rs.50,000
  6. Notified charitable hospital Rs.50,000

He also paid LIC premium of Rs.25,000 on a policy of Rs.2,00,000 which he acquired on 10th March 2015. Compute his relief in respect of Donations and LIC premium.
  14. Give in detail the provisions of Section 54 GB.

 
  15. Calculate the service tax payable by Rajshree Tours & travels assuming the given amounts are exclusive of tax.

a. Package tour to Australia – Rs.30,00,000

b. Package tours to Vaishno Devi – Rs.15,00,000

c. One day package tour to Shimla – Rs.4,00,000

d. Non package tour to Kerala – Rs.4,50,000

e. Hotel booking charges – Rs.1,00,000

f. Touring to American Embassy , New Delhi – Rs.50,000

g. One day non package tour to Naina Devi – Rs.70,000

 
  16. What do you mean by Agricultural Income? Calculate tax liability of Mr.Hasan. Net agricultural income Rs.50,000. Non Agricultural income – Rs.2,95,000.
SECTION – C
III) Answer any THREE questions.  Each carries 15 marks.                                (3×15=45)                                                                                                 
  17. Mr. Chandran sold the following assets:

  1. Shares sold for Rs.1,50,000 on 20.12.2014. these were purchased in Sept.1994 for Rs.40,000
  2. Sale of listed Debentures for Rs.20,000 on 31.1.2015. these were purchased in June 93 for Rs.30,000
  3. Sale of Residential House. It was inherited from his father in June 1979. It was built at a cost of Rs.1,00,000 by his father in 1975. Additions were made by him at a cost of Rs.50,000 in May 1992. Its Fair market value as on 1.4.1981 was Rs.1,80,000. Alterations and additions were made in March 2001 at a cost of Rs.40,000. This property was sold for Rs.28 lakhs in June 2014. The selling expenses were Rs.20,000 on brokerage. He purchased another residential house for Rs.2,50,000 in December 2014.

Compute his taxable gain for the A.Y 2015-16 if CII for 1981-82=100, 1992-93=223, 2000-01=406, 1993-94=244, 1994-95=259 and 2014-15=1024.

 

 
  18. Dr.P is a professor and a resident of India. He submits before you the following incomes for computing his income from other sources.

a. Salary Rs.15,600 p.m. from Vaishnav College.

b. He is the author of a text book which fetched him a gross royalty of Rs.20,000 in lump-sum and which in consideration of the transfer of copyright. He claims the following deductions from the amount:

-Salary to a clerk who collected for him necessary data and goes through the final proof reading Rs.3,000

-Purchased books worth Rs.400 in connection with the revision of the book

-Telephone expenses of Rs.1,600 attributed to the publication and sale of his book and other matters in connection with the printing of the new edition of the book

c. Income from articles which were published in Yojna Rs.4,000

d. He lives in a rented house paying rent @ Rs.3,000 p.m. he has sublet 1/3 portion of the house on a rent of Rs.1,500 p.m. Dr.P has undertaken the liability of paying municipal taxes of Rs.5,400 on the whole house and also current repairs of the whole house amounting to Rs.6,000

e. Dr.P received Rs.60 per lecture delivered at Ambedkar institute during the previous year. He delivered 20 lectures.

f. He is an examiner in university. This source gave him a remuneration of Rs.2,600. He incurred Rs.60 on postage etc. in connection with the examination work which were reimbursed by the university. He received Rs.400 as remuneration for invigilation work in the university examinations.

f.  His other incomes were

–          Wins from card games and betting Rs.6500

–          Wins from chess Rs.1,000

–          Received interest on Govt. of Nepal Bonds Rs.1,500

g.      Received Rs.2,000 as dividend from an Indian Co in which the public is substantially interested.

h. Income from agricultural land situated at Bangladesh Rs.7,000

i. Rs.800 p.m. scholarship received for research work from UGC.
  19. Mr.A provides following particulars of his income for the A.Y 2015-16. Find out his tax liability. Mr.A is 81 years old.

Salary income Rs.8,60,000

House property income ( computed ) Rs.40,000

Winning from lottery Rs.1,00,000

Profit on sale of shares (STT) ( short term ) –Rs.90,000

Long term capital gain on sale of plot Rs.2,20,000

 
  20. Mr.Rane has made the following payments during the year 2014-15. Compute the allowable deductions. His gross total income is RS.8,00,000.

  1. Rs.14,000 ( Rs.8,000 by cheque and RS.6,000 by cash) to General Insurance Corporation under Mediclaim. He also paid by cheque Rs.18,000 for medical insurance of his parents.
  2. 20,000 to ICICI PRU Insurance Pension Fund
  3. Rs.40,000 to a hospital for treatment of his minor son who is suffering from a notified chronic ailment
  4. RS.6,000 p.m. paid as rent of a house at Delhi. He does not own any other house.
  5. Rs.10,000 to a scientific research association
  6. Mr.Rane’s son is studying in a reputed management college and he took a loan of Rs.3,00,000 @ 10%p.a. from a Nationalised bank. He repaid RS.50000 which includes interest for that year.
  7. He contributed to Provident Fund Rs.1,000 p.m.
  8. LIC premium Rs.20,000 p.a. on a policy value of Rs.1,50,000. Policy acquired in 2008.
  9. He is also medically handicapped person and has been duly certified by the Govt. doctor.
  10. Repayment of house loan taken from LIC for residential house Rs.4,000 p.m. including Rs.1,000 p.m. as interest.

 
  21. a. Differentiate Sales Tax and Value Added Tax

b. How do you determine the Due date of Payment of Service Tax and Point of taxation?

c. Find out POT and Due date. Date of completion of service: June 12th 2015, Date of Invoice: June 21st 2015, Date of receipt of payment: 10th July 2015.
 

SECTION – D
IV) Case Study – Compulsory question.                                                                (1×15=15)                                                                                          
  22. Mr.Kunal Mehta furnishes the following particulars of his income for the previous year ending 31.3.2015.

a.      Income from house property (computed) Rs.26,200.

b.      He is a property linker and during the previous year earned an income of Rs.1,50,000 by way of commission.

 

c.       He had purchased a plot in Delhi for construction of house in October , 2001 ( CII – 426 ) for Rs.80,000. He sold this plot for Rs.3,10,000 during the previous year 2014-15 ( CII – 1024 ) and incurred the following expenses on transfer of the plot:

Advertising Rs.2,220

Brokerage Rs.10,000

d.     The interest on fixed deposit in a bank during the previous year amounted to Rs.18,400 . He earned during the previous year Rs.20,000 as prize money on Maharashtra State Lottery ticket. The cost of ticket was RS.500.

He deposited Rs.3,000 in his PPF account during the year and gave the following donations.

i.        To a Technology Development and Application Fund Rs.1,000

ii.     To a political Party ( registered ) Rs.1,000

iii.   To Rajiv Gandhi Foundation Rs.2,000

 

You are required to:

 

  1. Classify these incomes under different heads provided in Income tax act 1961
  2. Compute his GTI and Total income
  3. Determine tax liability for the AY 2015-16.

 

 

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St. Joseph’s College of Commerce 2016 II Sem Taxation – II Question Paper PDF Download

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ST. JOSEPH’S COLLEGE OF COMMERCE (AUTONOMOUS)
END SEMESTER EXAMINATION – MARCH/APRIL 2016
B.COM(Int. Fin & A/c) – II Semester
C4 15AR203 : TAXATION – II
Duration: 3 Hours                                                                                             Max. Marks: 100
SECTION – A
I) Answer ALL the questions.  Each carries 2 marks.                                        (10×2=20)
  1. Difference between fee and duty.
  2. R  a dealer  purchased goods from dealer S of Bangalore for Rs. 13,50,000 including VAT @14.5%(0.5% for Swatch Bharat). R earns a profit @25% on the cost and sold the same to a retailer T. Calculate the amount of VAT payable by R.
  3. Define the term manufacture as per Excise Act.
  4.  How do you find tariff value for jewellery and branded readymade garments?
  5.  Write a note  on countervailing duty.
  6. What is Service tax?
  7. Write two differences between   tax evasion and tax avoidance.
  8. Indian Citizen gone abroad for employment and comes back to India. Advise him which date to   come in the previous year and after holidays which date to go abroad after the annual holiday. Keep in mind he wants to stay maximum in India in the previous year.
  9.  Write a note on Anti dumping duty.
  10.  What is Demurrage?
SECTION – B
II) Answer any FOUR questions.  Each carries 5 marks.                                       (4×5=20)
  11.  Suppose M. Sugar factory supplies molasses to N. Energy factory who uses 70% of such molasses for manufacturing of excisable goods and 30% for the manufacture of non-excisable goods. The value of molasses and the rate are: Rs.1,80,000 and 8% (On the date of production); Rs. 2,00,000 and 10% (On the date of removal); Rs. 2,10,000 and 12% ( on the date of receipt in the factory of N.Energy Ltd.

a)      Calculate the duty payable. Who has to pay the duty? Why?

b)     If it is not sugar factory how do you calculate duty payable under Excise Duty.
  12.  Explain the test of marketability with respect to excise duty.
  13. Explain VAT credit and CENVAT credit with an example each.
  14. Write  a brief note on  Indian Customs Water.
  15.   R  Ltd. The manufacturer, has imported machinery from Germany worth $80,000. Determine the rate of exchange for the purpose of computation of Customs duty from the additional information:

 

 

 

  Date Exchange rate of notified CBEC Exchange rate as notified by RBI
Date of entry inward 15-6-2015 Rs.64 per US dollar Rs.65 per US dollar
Date of Bill of Entry 19-06-2015 Rs. 64.50 per US dollar Rs. 66 per US dollar
  16. Write a brief note on  Taxable event of Imports.
SECTION – C
III) Answer any THREE questions.  Each carries 15 marks.                                (3×15=45)                                                                                                 
  17. Explain import procedure
  18. How do you do tax planning under the following heads:

a)      Salary payable to employees

b)     Newly setup business in certain regions of India

c)      Mention services that do not fall under service tax.

 
  19. Explain in brief: VAT, Excise, Customs, CST  and tax planning.

 
  20. R is a manufacturer at Delhi and has purchased raw material A from X, a manufacturer at Delhi for Rs. 8,00,000 who charged Excise duty @12.5% and VAT at 4%.

He also purchased another raw material B from Y of Mumbai for Rs. 4,00,000 who charged excise duty @12.5% and CST @ 2%.

The manufacturing and other expenses incurred by R were Rs. 4,00,000 and profit included were Rs. 80,000.

The final product was sold to S, a trader in Delhi. Excise duty charged was 12.5% and VAT charged was 12.5%. S after incurring expenditure of Rs. 60,000 and adding profit @25% on cost  sold the goods to T.

Compute the excise duty payable by R and VAT payable by R and S. (Exclude educational cess.)

 
  21. Classic exporters Ltd. Runs a New industrial undertaking  set up in 2007-08 which satisfies the conditions of Section 80IB. Given below is the profit and loss account for the previous year.

Particulars Rs. Particulars Rs.
Stock

Purchases

Salaries And Wages

Entertainment Expenses

Freights And Insurance

Attributes To Exports

Travelling

Depreciation

Selling Expenses

Income Tax Paid

Income Tax Penalty

Customs Duty Payable Against Demand Notice

Provision For Unascertained Liabilities

Provision For Ascertained Liabilities

Proposed Dividend

Loss Of Subsidiary Company

Net Profit

 

 4,00,000

23,00,000

9,70,000

 

1,30,000

 

 

3,00,000

2,20,000

1,50,000

1,20,000

90,000

20,000

 

 

30,000

 

 

20,000

 

50,000

3,00,000

 

50,000

32,40,000

 

 Domestic sales

Export Sales

Export Incentives Sec. 28(Iiia/Iiic)

Profit Of Foreign Branch Brokerage/Commission/

Interest/Rent

Transfer From Contingency Reserve

Stock

 24,00,000

43,00,000

 

50,000

2,50,000

 

50,000

 

10,00,000

3,50,000
  84,00,000   84,00,000

You are further informed:

i)                   Excise duty for 2013-2014, amounting Rs.1, 20,000 was paid on 15th December 2014.

ii)                 Depreciation under section 32 is 2,20,000

iii)              During the year 2010-2011, contingency reserve amounting Rs. 10,00,000, debited to profit and loss A/c, was added back to the extent of Rs.4,00,000 in the computation of book profits. The company has transferred the said reserve to the profit and loss during the year.

iv)               Brought forward business loss/depreciation:

Previous year Accounting purpose Tax purpose
2010-2011

2011-2012

 (10,00,000)

(2,00,000

 (1,00,000)

(3,00,000)

 (5,00,000)

(1,00,000)

 2,50,000

2,00,000

Compute the following: a) Total income   b) Book profit  c) Tax liability.
SECTION – D
IV) Case Study – Compulsory question.                                                                (1×15=15)                                                                                           
  22. Answer the following

a)      Steps on clearance of goods in case of Import

b)     R imported  goods from Iran. The assessable value of the imported goods is Rs. 34,00,000. Compute the customs duty payable from the following additional information:

i)                   Date of entry inward 10.4.2015 (rate of basic duty 8%)

ii)                 Date of Bill of entry 14.4.2015(rate of basic Customs duty is 10%)

iii)              Countervailing duty @ 12%

iv)               Special duty @4% maximum rate applicable.

 

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