Swash Enterprise Pvt Ltd. is a financial service company having its offices in Kolkata, West Bengal and Mumbai, Maharashtra. The company is…

Swash Enterprise Pvt Ltd. is a financial service company having its offices in Kolkata, West Bengal and Mumbai, Maharashtra. The company is registered under GST in both the States. The company operates through two segments (a) banking services and (b) advisory & consulting services. The aggregate turnover of the company during the previous year was (i) 80 lakh in West Bengal & (ii) 60 lakh in Maharashtra. The bouquet of services provided under each of the two segments are as follows: Banking services Advisory & consulting services Recovery agent services Company/LLP/Society formation Return filing Direct Selling Agent (DSA) services (sale of banking products) Detailed Project Report (DPR) preparation Business promotion/ product marketing/exhibition etc. The company has carried out following transactions during the month of September: (Amount in ₹ excluding GST) Particulars Kolkata office Mumbai office Sale and purchase of foreign currency in course of business Refer Note 3 Refer Note 3 Amount received from Devidas Private Limited. It has sponsored the business exhibition organized by Swash Enterprise Pvt Ltd. 90,000 70,000 Commission received as DSA from ICIDI Bank for opening bank account/credit card & loan products 48,000 50,000 Commission received from private banks for acting as recovery agent 1,20,000 1,50,000 Professional fee received for the formation of a company/LLP/society 80,000 [Refer Note 2] 40,000 Professional fee received for GST/ TDS return filing 65,000 75,000 Participation fee received from customers for the business exhibition organised by the company 50,00,000 (held in Russia) [Refer Note 1] 4,00,000 (held at Chennai) [Refer Note 1] Legal fee paid to Mr. Sundaram - an advocate 10,000 15,000 Payment made for security services (by way of supply of security personnel) received 25,000 (Sky Security Pvt Ltd.) 25,000 (M/s P & Co, a partnership firm, registered under GST) Notes: The participation fee of 50,00,000 received by the company is in respect of a business exhibition organized at St. Petersburg, Russia under the theme "Bharat Traditional Fair” in which 10 Indian companies (all registered under GST) had participated. A participation fee of 5 lakh from each Indian company was collected for providing them a stall, furniture & other amenities at St. Petersburg, Russia. The participation fee of 4,00,000 is in respect of a business exhibition organized by the company at Chennai, in which 100 Indian companies had participated.Out of the professional fee of 80,000 received by Kolkata office for the formation of a company/LLP/society, 15,000 was towards reimbursement claimed from client. It was separately mentioned in the invoice indicating that it was deposited with registrar of companies (ROC).Following purchase & sale of foreign currency was made by the company during the month of September: (a) Kolkata office had purchased USD 10,000 from M/s Moneywise (a FOREX dealer) @73 per USD on 10th September. The RBI reference rate on that day was 74 per USD. (b) Mumbai office had sold USD 5,000 to M/s Money Matters (a FOREX dealer) on 15th September @73.20 per USD. RBI reference rate for USD on that day is not available.In an order dated 14th September issued to Swash Enterprise Pvt Ltd., the Joint Commissioner of CGST, Mumbai has raised a demand of 600 crore on Mumbai office in respect of an inter-State supply transaction. The company is disputing the entire demand & wants to file an appeal before the Appellate Authority against the order of Joint Commissioner. All the amounts given above are exclusive of GST wherever applicable (unless otherwise specified). There is no other outward or inward supply transaction apart from the aforesaid transactions in the relevant period. Swash Enterprise Pvt Ltd. is not an authorised FOREX dealer. Based on the case scenario given above, choose the most appropriate answer to Q. nos. 1 to 4, below, carrying 2 marks each: