GST Question for Today:- M/s. Vishu Megamart, operating a store located and registered in Rajasthan, has come out with big discount offers at the time of Diwali on various gift items. In order to attract more customers, it has decided to supply a gift pack containing 5 packets of Haldiram’s Namkeen (200 gram each) taxable @ 12%, 1 packet of Roasted Smoked Almonds (100 gram) taxable @ 18%, 1 packet of Bournville Chocolate (50 mg) taxable @ 28% and 1 bottle of Real Fresh Juice (1 litre) taxable @ 18% in a single basket for a single price of Rs. 1,000/. State the type of supply and the tax rate applicable on the same.
a) Composite supply; Tax rate of the principal item, i.e. Namkeen @18%
b) Composite supply; Highest tax rate out of all items, i.e. 28% applicable to chocolates
c) Mixed supply; Tax rate of principal item, i.e. Namkeen @18%
d) Mixed supply; Highest tax rate out of all items, i.e. 28% applicable to chocolates

Law Question for Today:- High Aim Pvt. Ltd. wants to change its object clause of the Memorandum of Association of the Company. The needs:
a) Shareholders approval by way of Ordinary Resolution
b) Shareholders approval is not required for change of object clause of the company.
c) Shareholders approval by way of Special Resolution
d) The approval from Tribunal for changing object clause of the company.

GST Question for Today:- Mr. Avishkar is a painter registered under GST in Delhi. He sends his artwork for exhibition in Mumbai. At what point of time, supply is considered to have been made under GST?
(a) When painting is completed.
(b) When painting is sent for exhibition in Mumbai.
(c) When painting is displayed at the exhibition in Mumbai.
(d) When painting is purchased by one of the visitors in the exhibition

Law Question for Today:- Morgan Limited decided to make an offer for purchase of securities. Application Forms for the purchase were
issued to public. However, it was not accompanied by an abridged prospectus. For this default Company is liable
for penalty. How much penalty Company has to bear?
a) Rs. 25,000
b) Rs. 50,000
c) Rs. 100,000
d) Rs. 500,000

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GST Question for Today:- Mr. Dev Anand is engaged in providing services of facilitating sale and purchase of securities to various clients. He is also engaged in trading of securities. His turnover details are as follows:
Trading of securities Rs. 40,00,000/-
Brokerage on account of facilitating transactions in securities Rs. 30,00,000/-
You are required to ascertain aggregate turnover of Mr. Dev Anand under GST:
(a) Rs.30,00,000/-
(b) Rs.40,00,000/-
(c) Rs. 70,00,000/-
(d) Rs.NIL.

Law Question for Today:- On 30th June 2017, the liability side of Balance Sheet of X Ltd. showed balance of paid up share capital of Rs. 65
lacs, free reserve of Rs. 10 lacs, share premium account of Rs. 20lacs, deposits of Rs. 25 lacs, repayable in the
current financial year, during the month of September 2017.In July 2017, the company was in need of some
short term funds to the tune of Rs. 20 lacs for a period of 6 months. The maximum amount which the company
may hold as deposit together with existing deposits will be—
a) Rs. 33.25 Lacs
b) Rs. 11.25 lacs
c) Rs. 95 lacs
d) Rs. 9.5 lacs.

Photo from Sanchit Grover

GST Question for Today:- Mr. Manjot Singh Sidhu is a trader supplying goods from his firm M/s. Singh Traders. The office of the firm is located in Delhi whereas the godowns are located in the State of Uttar Pradesh, Punjab and Jammu & Kashmir (J & K).
M/s. Singh Traders made intra-State supplies from different States during the period from 1-Jul-2022 to 31-March-2023 as follows
(i) Delhi-Taxable supplies: Rs. 21,00,000/-.
(ii) Punjab–Exempted supplies: Rs. 6,00,000/-.
(iii) Uttar Pradesh–Taxable and exempted supplies: Rs. 3,00,000/- each respectively.
(iv) J & K–Taxable and exempted supplies: Rs. 8,00,000/- and Rs. 3,00,000/- respectively.

Being a GST expert, Mr. Manjot Singh Sidhu seeks your advice to correctly ascertain the States in which he is required to take registration under GST:
a) Delhi, Punjab, Uttar Pradesh and J & K
b) Delhi, Uttar Pradesh and J & K
c) Delhi and Uttar Pradesh
d) Delhi

Law Question for Today:- ABC Infrastructures Limited is a listed company quoted at National Stock Exchange. The company closed its
Register of Members in June and August, 2017 for 12 and 21 days respectively. The CFO of company has
informed the company secretary to consider closing of register in December for another 15 days for some
strategic reasons. Referring to the provisions of Companies Act, 2013, examine the validity of above action of
the company.
a) Valid, as the closure of register of members by company each time is not exceeding 30days.
b) Invalid, as company cannot go for closure of Register of members more than twice in a year.
c) Invalid, as the period of closing register of members exceeding 30 days in a year.
d) Invalid, as the period of closing the Register of members by the company is exceeding 45 days in a year.