📝CA Final IDT May'24 MCQs By CA (Dr) Mahesh Gour Sir

Chap - ITC

6. HM ltd. delivered a machine to ABC ltd. in January 2023 under Invoice No. 50 dated 28th January, 2023 for Rs.
5,00,000 plus GST @12%, and undertook runs and calibration of the machine as per the requirements of ABC
&Co.. The amount chargeable for the post-delivery activities was covered in a debit note raised in April 2023 for
Rs. 50,000 plus GST @12%. The company has filed its annual return for Financial Year on 15-12-2023. Determine
the time limit for taking Input tax credit for the amount of tax covered in debit note.
option a) 20th Feb 2022 b) 28th Jan 2023
c) 15th Dec 2022 d) 20th Sep 2023
e) None of the above

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📝CA Final IDT May'24 MCQs By CA (Dr) Mahesh Gour Sir

Chap - ITC

7. (1) AMT Co. ltd., purchased a mini bus having seating capacity of 14 persons (Including driver) for
transportation of its employees from their residence to office and back. for Rs. 10L & GST @ 12%.
(2) AMT Co. ltd., purchased two trucks for transportation of its finished goods from the factory to dealers
located in various locations within the country. For Rs. 20L & GST @12%.
(3) AMT Co. ltd. availed outdoor catering services to run a canteen in its factory. The Factories Act, 1948
requires the company to set up a canteen in its factory. For Rs. 5L & GST Paid @ 5%.
Determine eligible ITC for AMT Co.
option a) 2,40,000 b) 3,60,000
c) Nil d) 2,65,000
e) None of the above

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📝CA Final IDT May'24 MCQs By CA (Dr) Mahesh Gour Sir

Chap - ITC

8. Flamingo Ltd. is an airlines providing passenger transportation services by air! The company offers meals of
premium quality to passengers on board the aircraft. The value of such meals is compulsorily included in the price
of the air ticket. The company avails outdoor catering services of Dhaniaram Pvt. Ltd. for providing such meals to
its customers. Choose most appropriate option)
option a) Flamingo ltd. can avail ITC, because it is in same Category of business or making outward taxable supply as an
element of taxable composite or mixed supply.
b) Flamingo ltd. can avail ITC, because it is Statutory obligation.
c) Flamingo ltd. can not avail ITC.
d) Flamingo ltd. can avail ITC, because it is in same category of business.

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📝CA Final IDT May'24 MCQs By CA (Dr) Mahesh Gour Sir

Chap - ITC


12. OPQ ltd. purchased a pollution control equipment for Rs. 17,70,000 which is inclusive of GST at 18% with valid
invoice. The equipment was purchased on 01-10-2022 and was disposed of as second hand equipment on 25-09-
2023 for price of Rs. 11,50,000. The GST Rate on the date of disposal was 18%. You are required to calculate the
amount payable on disposal of the equipment.
option

a) 2,16,000 b) 63,720
c) 2,07,000 d) None of the above

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📝CA Final IDT May'24 MCQs By CA (Dr) Mahesh Gour Sir

Chap - ITC

13. (i) A dealer purchased a small truck for the purpose of transporting its inputs and finished goods.
(ii) A Jet Airways school imports an aircraft for use in its training activity.
(iii) A motor driving school buys a car for being used in imparting motor driving training (Capacity is 5 person).
(iv) A group of professionals providing managerial consultancy buys a car for use of his employee.
Input tax credit cannot be taken on:
option (a) (iii) and (i) (b) (i), (ii), (iii) and (iv)
(c) (iv) (d) (i) and (iii)

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📝CA Final IDT May'24 MCQs By CA (Dr) Mahesh Gour Sir

Chap - ITC


14. I. Mr. X is in possession of certain Capital Goods & purchases more of them as per Following particulars.
✓ Capital Goods D (has been exclusively used for 2 years for Exempted Supply)
✓ Input tax paid on such capital Goods Rs. 1,20,000.
Now such Capital Goods used for taxable as well as exempted supplies.

I. Determine Input Tax Credit Transfer in electronic Credit ledger in current tax period
option
(a) Rs. 72,000
(b) Rs. 1,20,000
(c) Rs. 48,000
(d) None of the above

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📝CA Final IDT May'24 MCQs By CA (Dr) Mahesh Gour Sir

Chap - ITC


14. II. Mr. X is in possession of certain Capital Goods & purchases more of them as per Following particulars.
✓ Capital Goods D (has been exclusively used for 2 years for Exempted Supply)
✓ Input tax paid on such capital Goods Rs. 1,20,000.
Now such Capital Goods used for taxable as well as exempted supplies.

II. Compute the Common credit for a particular Taxable period (for a particular month)
option (a) Rs. 2,000 (b) Rs. 1,500
(c) Rs. 1,200 (d) Rs. 900

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