MCQs of Federal Excise Act, 2005 are available now for all students who are preparing for the test of Inspector Inland Revenue. The MCQs will be added time and again in parts. You can practice them time and again until you get command over this section of syllabus. Once you go through these mcqs then you may practice them in quiz form.
Apart from this, if you havent gone through Federal Excise Act then you must watch and understand its definitions and important mcqs in video lecture. Later on, you may answer 50% mcqs in the exam.
Please practice them thrice and you will get the best result for the test.
MCQs of Federal Excise Act
1. Federal Excise Act was passed in _________?
a. 1990
b. 2007
c. 2001
d. 2005
2. How many chapters are there in Federal Excise Act, 2005?
a. 13
b. 10
c. 6
d. 17
3. There are ____________ sections of Federal Excise Act, 2005?
a. 76
b. 49
c. 24
d. 242
4. Federal Excise Act, 2005 has ________ schedules?
a. 9
b. 4
c. 7
d. NOT
5. The products which are produced inside Pakistan and taxes levied on those products are called as__________?
a. Federal Excise Duty
b. Income Tax
c. Both a and b
d. NOT
6. Chapter one of the Federal Excise Act deals with_____________?
a. Title
b. Definitions
c. Both a and b
d. NOT
7. Which schedule of Federal Excise Act recently omitted from the act?
a. 1st
b. 2nd
c. 3rd
d. 4th
8. When the 4th schedule of Federal Excise Act, 2005 was omitted from the act?
a. 2019
b. 2020
c. 2021
d. NOT
9. Federal Excise Act, 2005 was enforced on_______?
a. 1st June 2005
b. 1st day of July, 2005
c. 1st month of 2005
d. NOT
10. All goods available in the first schedule of Federal Excise Act, 2005 are _______?
a. Dutiable goods
b. Exempted goods
c. Zero rated goods
d. NOT