MCQs of Federal Excise Act, 2005

51.   Section 5 of Federal Excise Act, 2005 deals with ___________?

a.       Filing of return

b.      Zero Rate of Duty and Drawback

c.       Liability

d.      NOT

52.   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

53.   The duty levied on importing electric car is ___________?

a.       12.5%

b.      17%

c.       15%

d.      0%

54.   Adjustment of duties of excide are discussed under section ________?

a.       9

b.      8

c.       6

d.      4

55.   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

56.    Under Federal Excise Act, 2005 deduction of input tax is called as _____?

a.       Exemption

b.      Fund

c.       Adjustment

d.      NOT

57.   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

58.   When a person unable to pay duty is called as ________?

a.       Defaulter

b.      Robber

c.       Layman

d.      AOT

59.   Section 8th of Federal Excise Act, 2005 deals with_____?

a.       Registration

b.      Zero Rating

c.       Adjustment

d.      Default Surcharge

60.   According to Federal Excise Act, 2005 Default Surcharge is discussed under section ______?

a.       34

b.      8

c.       5

d.      NOT