Mr. Vinay Pratap of Bhilwara (Rajasthan) is a registered person under GST and is filing monthly returns. His turnover for the current preceding year…

Mr. Vinay Pratap of Bhilwara (Rajasthan) is a registered person under GST and is filing monthly returns. His turnover for the current preceding year was - 1.25 crores. He is engaged in the business of various goods and services. He provided the details of following transactions/supplies undertaken by him during the month of February: (i) He executed a hedging contract for a commodity with NCDEX at a price of 1,100 per unit for 600 units. Original contract of purchase of the commodity was made @1,000 per unit. On the date of expiry of future contract i.e. 28th February, the rate of commodity was 900 per unit. He squared off the contract without physical delivery of the commodity. He paid - 2,000 each at the time of entry and exit off the future contract. (ii) He provided event management services free of cost to his brother (wholly dependent on him) for his son's marriage function in Indore (Madhya Pradesh). Cost of providing said services is 80,000. Details of inward supplies during the month: (i) Purchased goods for 20,00,000 from a registered person (it includes - 5,00,000 towards purchase of goods which are exempted). (ii) Purchased a truck for 8,00,000 for transportation of goods for delivery to customers. No depreciation was claimed on GST portion. (iii) Incurred - 3,50,000 on renovation of office building and debited the expenses (excluding the GST portion) in the Profit and Loss account under repair and maintenance head. (iv) Mr. Vinay Pratap went to Surat, Gujarat for a business meeting which was mandatory under a law for the time being in force in February and stayed in a GST registered hotel named "Seven Seas Hotel" for few days. Room accommodation charges for 50,000 (taxable value) was paid for the stay. All amounts given above are exclusive of taxes, wherever applicable. All supplies are intra-State except otherwise mentioned. All the supplies of goods and services are chargeable to GST @ 9% each under CGST & SGST and @ 18% under IGST except spare parts which are chargeable @ 2.5% each under CGST & SGST and @ 5% under IGST. Based on the facts of the case scenario given above, choose the most appropriate answer to Q. Nos. 1 to 4 below carrying 2 marks each: