Federal Excise Act, 2005 MCQs updated 2021-2022 || Inspector inland Revenue Past Papers || FBR Test, FPSC, CA, ACCA, B.com, M.com

00:00 Lecture Intro
00:38 Channel Intro
00:46 Federal excise act MCQs

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1. Excise duty is an example of;
a) Direct Tax
b) Indirect tax.
c) Property tax
d) None of the above
2. How many Chapters Federal excise act, 2005 has?
a. 4
b. 6.
c. 8
d. 5
3. How many sections Federal excise act, 2005 has?
a. 40
b. 46
c. 48
d. 49.
4. How many Schedules Federal excise act, 2005 has?
a. 6
b. 5
c. 3
d. 4.
5. Under Federal excise act, 2005 on which type of goods and services excise duties are levied? [Section 3(1)]
a) Goods purchased and manufactured in Pakistan
b) Goods imported into Pakistan
c) Goods specified by the federal government in official gazette
d) Services provided in Pakistan
e) All of the above.
6. Chapter 1 of Federal excise act, 2005 deals with;
a) Preliminary, definitions.
b) Offences and penalties
c) Levy, collection and payment of duty
d) None of the above
7. Federal excise act, 2005 extent to? [Section 1(1)]
a) It extends to the whole of Pakistan
b) It shall come into force on 1st day of July, 2005.
c) Both A and B.
d) None of the above
8. Adjudicating authority means; [Section 2(1)]
a) Authority competent to pass any order or decision under this Act
b) Authority competent to levy taxes
c) Authority competent to make rules there under, but does not include the Board or Appellate Tribunal
d) A & C both.
9. Conveyance means; [Section 2(6)]
a) Any means of transport used for carrying goods or passengers
b) Such as vessel aircraft vehicle or animal etc.
c) Both A & B.
d) None of the above
10. The term adjustment means; [Section 2(2)]
a) Deduction of amount of duty
b) Non-Deduction of amount of duty
c) Both A & B.
d) None of the above
11. An officer of inland revenue means; [Section 2(12)]
a) An officer appointed by FPSC
b) An officer appointed by FBR.
c) An officer appointed by Commissioner
d) None of the above
12. The term “KIBOR” Stands for [Section 2(15a)]
a) Karachi inter-bank offered rate.
b) Karachi inter-board offered rate
c) Both A & B.
d) None of the above
13. Chapter 2 of Federal excise act, 2005 deals with;
e) Preliminary, definitions.
f) Offences and penalties
g) Levy, collection and payment of duty.
h) None of the above
14. After how much time a return is field and payment of duty is made? [Section 4(1)]
a) 1 month
b) 2 months
c) 3 months
d) 6 months

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