Federal Excise Act Quiz

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Federal Excise Act Quiz are available for the candidates who has already done our section of MCQs of Federal Excise Act. Students who has gone through this act can easily do this quiz. If you would like to qualify your exam of inspector inland revenue then you must do this quiz three time. Apart from this, if you go through all syllabus sections of Inspector Inland Revenue given in this site, then you can get top score in FPSC. We have tried our level best to cover every point in the syllabus which may be asked by the examiner.

Quiz of Federal Excise Act

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Question 1
Federal Excise Act, 2005 provides the option of _________ for avoiding a person from paying double tax?
A
Zero rate option
B
Exemption option
C
Adjustment option
D
NOT
Question 2
All non interest based services are called as ________?
A
Exempted services
B
KIBOR services
C
Non fund banking services
D
AOT
Question 3
_________ are involved in the development of the purchased or leased land?
A
Property Developer
B
Promoter
C
Both a and b
D
NOT
Question 4
When a person is importing goods then the duty would be levied on _________?
A
Importer
B
Manufacturer
C
Producer
D
Both b and c
Question 5
A manufacturer may comprised of ______?
A
Remaking
B
Remanufacturing
C
Reconditioning
D
AOT
Question 6
The duty levied on importing electric car is ___________?
A
12.5%
B
17%
C
15%
D
0%
Question 7
___________ means deduction of amount of duty paid on goods used in manufacture or production.
A
Purchase
B
Buy
C
Adjustment
D
NOT
Question 8
According to Federal Excise Act, 2005 due date is _________?
A
3rd of every month
B
12th of every month
C
15th of every month
D
NOT
Question 9
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
Question 10
KIBOR is the rate which is offered at ______?
A
First day of each month
B
First day of each year
C
First day of each quarter
D
NOT
Question 11
Adjustment of duties of excide are discussed under section ________?
A
9
B
8
C
6
D
4
Question 12
KIBOR stands for _____________________?
A
Karachi International Bank Offered Rate
B
Karachi Internal Bank Offered Ratio
C
Karachi Inter Bank Offered Ratio
D
Karachi Inter Bank Offered Rate
Question 13
__________ means premises including precincts where goods are manufactured or any process connected with manufacturing.
A
Company
B
Factory
C
Office
D
NOT
Question 14
Structure of officers of Federal Excise Act, 2005 are discussed under section ___________?
A
29
B
30
C
3
D
NOT
Question 15
Non fund banking services are non interest based so these services will be based on______?
A
Fee
B
Commission
C
Charges
D
AOT
Question 16
When the approval of commissioner is not required for file returning under Federal Excise Act, 2005?
A
Return within 60 days
B
Return within 120 days but with increased amount
C
Both a and b
D
NOT
Question 17
Adjudicating authorities mean authorities other than ____________ which act according to this law for determination of anything.
A
Board
B
Appellate tribunal
C
Both a and b
D
NOT
Question 18
Filing of return is possible ____________?
A
Every month
B
Quarterly
C
After every 6 month
D
NOT
Question 19
Under Federal Excise Act, 2005 deduction of input tax is called as _____?
A
Exemption
B
Fund
C
Adjustment
D
NOT
Question 20
Federal Excise Act was passed in _________?
A
1990
B
2007
C
2001
D
2005
Question 21
A person can revise file return within _______days?
A
120
B
90
C
60
D
30
Question 22
Which schedule of Federal Excise Act recently omitted from the act?
A
1st
B
2nd
C
3rd
D
4th
Question 23
Any sum payable under the provision of this Federal Excise Act is called as
A
Supply
B
Duty
C
Manufacturing
D
NOT
Question 24
The services provided out of Pakistan then the duty would be levied on________?
A
Provider
B
Recipient
C
Both a and b
D
NOT
Question 25
When the goods produced or manufactured in Pakistan, then the duty would be levied on _____?
A
Producer
B
Manufacturer
C
Buyer
D
Both a and b
Question 26
A person who purchases goods from manufacturer and sell it to wholesaler is_______?
A
Retailer
B
Wholesaler
C
Distributor
D
NOT
Question 27
When a person unable to pay duty is called as ________?
A
Defaulter
B
Robber
C
Layman
D
AOT
Question 28
Duties specified in the first schedule to be levied are discussed in _______ section of FED, 2005?
A
2nd
B
3rd
C
4th
D
NOT
Question 29
Commissioner Inland Revenue Appeal is subordinate to _______?
A
Chief Commissioner Inland Revenue
B
Board
C
Both a and b
D
NOT
Question 30
Section 4 of Federal Excise Act, 2005 deals with____________?
A
Zero Rate of Duty and Drawback
B
Filing of Return
C
Default Surcharge
D
NOT
Question 31
According to Federal Excise Act, 2005 goods falls under schedule?
A
1st
B
2nd
C
3rd
D
4th
E
NOT
Question 32
Default Surcharge is paid at the rate ________?
A
15% per month
B
17% annually
C
12% per annum
D
NOT
Question 33
An additional amount which is paid after due date is called as _________?
A
Default surcharge
B
Fund
C
Interest
D
NOT
Question 34
Commissioner Inland Revenue is subordinate to ________?
A
Board
B
Chief Commissioner Inland Revenue
C
Both a and b
D
NOT
Question 35
The section 2 of the Federal Excise Act, 2005 deals with __________?
A
Duties specified in the first schedule
B
Definitions
C
Short Title
D
NOT
Question 36
If the goods are produced inside non-tariff areas and they are sold out in tariff areas then the duty would be levied on ______?
A
Person bringing goods in tariff areas
B
Person manufacturing
C
Both a and b
D
NOT
Question 37
Federal Excise Act, 2005 was enforced on_______?
A
1st June 2005
B
1st day of July, 2005
C
1st month of 2005
D
NOT
Question 38
Section 6 of Federal Excise Act, 2005 deals with ___________?
A
Filing of return and payment of duty
B
Definitions
C
Registration
D
Adjustment of duties of excise
Question 39
________ means a franchiser allow to produce or manufacture then sell or trade further?
A
Establishment
B
Factory
C
Franchise
D
NOT
Question 40
Duty imposed on the imported goods would be according to the act_________?
A
Federal Excise Act
B
Income Tax Ordinance
C
Custom Act
D
Sales Tax Act
Question 41
Federal Excise Act, 2005 has ________ schedules?
A
9
B
4
C
7
D
NOT
Question 42
Section 8th of Federal Excise Act, 2005 deals with_____?
A
Registration
B
Zero Rating
C
Adjustment
D
Default Surcharge
Question 43
There are ____________ sections of Federal Excise Act, 2005?
A
76
B
49
C
24
D
242
Question 44
Section 5 of Federal Excise Act, 2005 deals with ___________?
A
Filing of return
B
Zero Rate of Duty and Drawback
C
Liability
D
NOT
Question 45
Goods which are produced in Pakistan and are not mentioned in the first schedule of this act, shall be payable duty at the rate _________?
A
12.5
B
17
C
15
D
13
E
NOT
Question 46
Under Federal Excise Act, 2005 the Appellate tribunal is as same as it is discussed in section 130 of ___________?
A
Sales Tax Act, 1990
B
Federal Excise Act, 2005
C
Federal Board of Revenue Act, 2007
D
Income Tax Ordinance 2001
Question 47
Which type of insurance is available for goods under Federal Excise Act, 2005?
A
Fire
B
Marine
C
Theft
D
Accident
E
AOT
Question 48
In Federal Excise Act, 2005 the filing of return is discussed under ________ section?
A
3rd
B
4th
C
5th
D
8th
Question 49
If the services are rendered in Pakistan, then the duty would be levied on_________?
A
Service Recipient
B
Service Provider
C
Both a and b
D
NOT
Question 50
Under Federal Excise Act, 2005 conveyance includes _________?
A
Aircraft
B
Vehicle
C
Animal
D
Vessel
E
AOT
Question 51
When goods are produced for the sake of export then the duty would be levied on them at the rate __________?
A
17%
B
15%
C
0%
D
NOT
Question 52
The filing return can be revised with the permission of __________?
A
Inspector Inland Revenue Officer
B
Commissioner
C
Federal Government
D
NOT
Question 53
Non fund banking services are provided by _________?
A
Banking company
B
Financial institution
C
Both a and b
D
NOT
Question 54
According to Federal Excise Act, 2005 Default Surcharge is discussed under section ______?
A
34
B
8
C
5
D
NOT
Question 55
Section 07 of Federal Excise Act deals with ________?
A
Default surcharge
B
Duties specified in the first schedule
C
Filing of return and payment of duty
D
Application of the provision of the sales tax act, 1990
E
NOT
Question 56
When the 4th schedule of Federal Excise Act, 2005 was omitted from the act?
A
2019
B
2020
C
2021
D
NOT
Question 57
How many chapters are there in Federal Excise Act, 2005?
A
13
B
10
C
6
D
17
Question 58
Non-tariff areas are ____________?
A
AJK
B
Northern areas
C
Where FED doesn’t apply
D
AOT
Question 59
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
Question 60
Establishment means __________________?
A
An undertaking
B
Company
C
Firm
D
Association
E
AOT
Question 61
Chapter one of the Federal Excise Act deals with_____________?
A
Title
B
Definitions
C
Both a and b
D
NOT
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