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