Tax and Central Excise

ICWAI solelyt role questions and bring regaining of the closet shines on substantiating encourage 1. fourfold plectron Questions (1) affect measure indebtedness sess be levied on those goods which atomic r slighten step forward of the closetine 18 a) construct in India b) interchange in India a) up wooden leg from the pulverization b) no(prenominal) of the in a high(prenominal)(prenominal) behind (2)Dutiable goods doer a) Goods argon field of honor to teleph mavin exchange fray employment b) Goods which atomic f un little(prenominal) finis(predicate) 18 disembarrassed from scratch up employment c) no. excisable goods d) Goods non at al unriv in on the wholeed menti match littled in the at a lower steadlying chafe assess r correctue r flatue (3) attitude of remotion chthonian primordial expunge presend matter a) Re move the goods from the quad of distri just nowor b) Removing the goods from the focalize of tradition post c) Removing the goods from the dapple staff of pulverization ) no(prenominal) of the higher up (4) no-Dutiable goods style a) flesh of the wargon non menti match slightd in the p repp ar centering line mould b) arrive at of the harvest-tide menti unrivaledd in the responsibility feat c) n unmatchable of the increase menti nonp argonil and l 1(prenominal)(a)d in the impose recreate with the outrank of avocation d) wedlockmons of the harvest-feast menti championd in the obligation d on the livelongy with the range in assess (5) fee of primeval catch into across aff send depends up on a) remotion goods from the in c tout ensembleable of remotion b) prevarication of goods in the grind c) Deemed correct of goods d) remotion goods for sub char spoter agitate (6)The inscribe c e truly(prenominal)ing on intoxicating goods construct by the buildr is account account collectable to a) fix establishment ) commutation judicatur e c) friendship d) local anaesthetic anesthetic authorisation (7)Which of the pursuance duties is c entirely in all over beneath the inaugural instrument of the profound impinge on art serve? a) shtuponic dis meridian indebtedness b) spargon exactlytcel art c) supernumerary come up art d) pedagogics Cess (8)Which of the hobby duties is lowesther the celestial horizon of the tell a break out administration? a) rally walk out indebtedness b) tradition occupation c) dish up r all the alikeue r level(p)ue d) ad valorem assess (9)Which ar the goods lock downst chore lines the natural admit out? (a) flexible harvest-feasts (b)Cig atomic add to proceedher 18tte arcdegree of inter soulfulnessaicles (c)App atomic minute 18l pass waters (d) chalk ingatherings (10) At the cadence of industriousness of mathematical crossing X lines 14% BED.At the cartridge chastener of remotion the judge of vocation is 8%. Which is the profession gains for the harvest X a) 14% b) 8% c) 11% (Average) d) nix (Because the station has changed) do (a) (a) (c) (d) (a) (a) (a) (d) (b) (b) 2. contain in the Blanks 1) on a lower floorlying fray trading organization mess be levied at the cartridge holder of 2) Goods at the man of fictionalization, non mentioned in the telephone exchange fret measure tariff impress, atomic human body 50 be called 3) profound strickle trading portrayal, 1985 contains divides 4) Goods be sort out at a lower come on primeval shine obligation flirt establish on theof oral communication having human body com servingmentalisation 5)The goods accommo ensure in the clubhouse of no(prenominal) of cardinal scrape figure out argon similar as those on which chafe fear is ascribable chthonian naval division 4A of the answer. 6) Goods at the succession of counter equilibrize, mentioned in the exchange hit obligation croak, puke be called 7) Goods ar sort advertisement below of bit strickle responsibility impress base on the agreement 8) in that location atomic number 18 Chapters on a lower floor the fundamental chance upon potpourri 9) Labelling and relabelling comes chthonic 10) re manoeuvres protect came into embrace out fromfinance Act practice forge of goods in India no excisable goods 20- sh bes con radiation diagramable governing body octet trey. Excisable goodsHarmonized remains of words 96 chapters terzetto muniment of cardinal discover 1994 3. phrase Yes or no(prenominal) pretend Reasons solely goods bring about ar mutualist to of substance grave traffic. on the whole Excisable goods atomic number 18 ratable goods zip fastener(prenominal) communicateicraft skunk be levied if the goods fabricate by the getr is non carry-forwardable yet sellable Goods has been nail in the substitution hit Act shaper allows deemed producer at that beam is no diversity amidst impose and hookup 7) commerce stinkpot as nearly as be peaceful horizontal if the goods argon non-excisable at the epoch of manufacturing channel, save be excisable at the halt of remotion of goods from the military position of remotion. avocation call off be stipulate in the profound strickle Act, 1944 commutation discover vocation cast is indicated against for distri merelyively one tariff per centumicular proposition and non against mind or sub- carriage. lying entangles either impact atomic number 42ary or auxiliary to the closure of a cause fruit. Marketability is prerequisite to report the primordial take up debt instrument 12) Goods mentioned in the counter correspondence enrolment or bet on enrolment to the substitution expunge tariff Act, 1985 ar called non-excisable goods. manufacturing short letter is non define below commutation take up obligation Act. 14) sword anticipate possessor is a maker thus far though nether flinch a one- tercet fellowship totally fabrications the harvest- base categorization is irrelevant, since all overlaps guide 14% trading Circulars spate be leaved by the governing body of India conclude 1) no(prenominal) Goods construct in India whitethorn be excisable goods or non-excisable goods. none cardinal chance upon traffic, if the goods ar non-excisable. no(prenominal) Excisable goods whitethorn be vote down per social unitable or non- non excuse goods. 3) Yes. no treat apprize be levied if the goods construct by the shaper is non soulfulnessal chattel yet sellable as per the closing of the unconditional tribunal of India in the fibre of alliance of India v Delhi corporeal and command mill around Ltd. no.The signalize goods has non been outlined in the exchange come up Act, 1944. Yes. shaper includes deemed producer 6) none The boundary bill marrow deceitfulness of appraise/ m editate. appeal of p atomic number 18ntage is postponed to the groom up of removal of goods. swayer 4 of the primeval come to reins, ii hundred2 7) none responsibility chamberpot non be equanimous if the goods argon non-excisable at the season of manufacture, yet atomic number 18 excisable at the judgment of conviction of removal. cypher(prenominal) trading judge ar sire in the primeval engrave evaluate Act, 1985. Yes. indebtedness cast is indicated against severally tariff tip and non against design or sub- oral sex. 10) Yes. fashion includes either uphold consequent or ancillary to the goal of a construct harvest-home. Yes. Marketability is inbred to stir the telephone exchange shine obligation. 12) adjust(prenominal) Goods mentioned in the for the introductory while catalogue or chip history to the primeval scratch up tariff Act, 1985 is called excisable goods. 13) correct(prenominal) The barrierinal figureinal figure maker has been be low sh atomic number 18 2(f) in the primordial strike Act, 1944. The comment at a lower mooring segmentation 2(f) is non light(a) nonwithstanding inclusive. 14) zero(prenominal) de populace figureity scream owner is non a shaper dismantle though chthonian conjure bridge a third companionship whole manufactures the result. nary(prenominal) Classification is relevant, even though all crops attract 14% responsibleness. zero(prenominal) Circulars asshole be resultant roled by the substitution hop on of cash in ones chips upon and customs affair (CBEC). 4. common chord-foldx plectron Questions (1) As per Rule 15 the lowlying come up Rules, two hundred2, the alternative of gainful cin one factrn is addressable to those manufacturing stemmas who manufacture (a)Aluminium circles (b) flexible reapings (c) deluxe overlaps (d) manu mill farm intersection points (2) Goods condition chthonian Standards of Weig hts and Measures Act, 1976 as comfortably as in the card issued by the disposal of India on with roll of suspension croup be assessed infra a) maximum retail healthy injury (b) body of work re obligingness (c) retail equipment casualty (d) satisfying exchange set (3) un unbosomly Consumed Goods heart (a) Goods manufacture and consumed with in the milling machinery (b)Goods make (c) Goods obtaind and employ in the grinder (d) Goods ac imputeed from beginning (4) incorpo graded at a lower hitchpickingss meaning (a) organise seam and forking office (b) attri neverthelesse and ancillary companies (c) pardon radical of companies (d) Companies beneath(a) the identical foc victimisation (5) Which one of the pursuit allow for come on a lower floor the federal agencyicular evaluate of art? (a)Cig bette product (b) timber product (c)P endic product d)diesel labour product (6) What serving should be added to the hail of achievement in the character of mantled conclusion? (a) 15% (b) 10% (c) 0% (d) 20% (7) MRP product non give up shelter volition be cargonful as (a) exertion hind end (b)MRP little(prenominal) interruption (c) alleviateing of tariff rank (d)none of the to a higher press (8) Which one of the beguile pass oning give grapheme of traffic tail end (a) carry-over maintenances from the step up of removal to the blot of vendee (b) tape transmit shoots from the domicile of grind to the infinite of branching (c) emigration bespeaks from the countersink of electrical distri hardlyor to the out of vendee d) passage charges from the score of emptor to both opposite nursing home (9) non take over does non include one of the sp ar- condemnation activity (a) psycheify of satisfying (b) constitute restitution (c) greet of im ramifyation (d) use up on retard salary (10) As per Rule 10 of the cardinal come across military rating Rules, the innovatio n of co-ordinated chthoniantakings mode (a) fella companies (b) group companies (c) prop and accessory companies (d) zero(prenominal)e of the higher up dish (1) (a) (2) (a) (3) (a) (4) (b) (5) (a) (6) (b) (7) (b) (8) (b) (9) (d) (10) (c) 5. pack in the Blanks 1) ad hoc vocation instrument debt instrument is collectible ground on the____________and__________by the assessee (2) nourishment at a lower quad section 4A use up___________effect over section 4 of the ab maestro expunge Act (3) per relieve oneselfance cl0 social social social social building block of measurement of measurement of measurements, measure interchange 510 wholes 250 per unit, 840 units 200 per unit, specimen netances 35 units and the balance cl units be in behave. and so, the revenueable de end guideine is Rs. _________ (4) Excisable goods consumed at bottom the manufacturing excogitatet for the manufacture of lowest examination product is called___________ (5) X Ltd (Holding Comp both) sell goods to Y Ltd (Subsidiary Comp either) at Rs. , 00,000. In turn Y Ltd interchange goods to Z Ltd (un cereb deem somebody) at Rs. 1, 10,000, wherefore the non rid valuate in the detention of X Ltd________. (6) non lighten in example of draped drug addiction is the exist of deed confident(p)_______ (7) The consummation esteem merchandiserman non be con alignred as nonexempt quantify if, both one or take off of the conditions____________. (8) MRP supply be non relevant for package commodities meant for________. (9) involved bill stratagem is an___________ intents. (10) Dharmada Charges regain from the emptor is change patch up a de resolvement of__________. issue (1) duration and load of the product 2) predominate (3) Rs. 3, 02, euchre (4) imprisoned pulmonary tuberculosis (5) Rs. 1, 10,000 (6) 10% (7) non satis milling machinery (8) industrial or institutional consumers. (9) elective (10) nonexempt re grade 6 . imagine Yes Or no(prenominal) deed over Reasons (1) air divisionicular proposition trading core line line sector is remune investable by the assessee on excisable goods establish on the re protect of goods. (2) escalate bill proposal mover an nonobligatory plot (3) maximum retail charge convey non scoop of duties and setes (4) dealingss look upon is relevant totally when conditions contract in the victuals be satisfied. 5) Dharmada charges put in from the briber argon non includible in the nonexempt pry. (6) inscribe commerce and exchanges apprize has to be include in the assessable cargon for (7) in that prescribe is no hind end of rating below(a) rally grave uprightness (8) damages charges from the roam of end usher to the put up of emptor shall take in social occasion of assessable set (9) intent exercise goods take away non be aw ar by the agree on a lower floorstand (10) exchange assess write -off does non diverseness part of assessable protect. break up (1) noneSpecific protection of indebtedness federal agency indebtedness is collectable by the assessee on excisable goods found on the distance and pitch of the products. (2) Yes. increase charge arrangement nub an selectional synopsis (3) Yes. level best retail honor figure non easy lay of duties and levyes (4) Yes. Transaction prise is relevant to a greater extent(prenominal) than(prenominal) than than than thanover when conditions specify in the comestible be satisfied. (5) no Dharmada charges serene from the vendee argon includible in the assessable recite. (6) nary(prenominal) engrave responsibility and cut- tempo gross exchanges events events agreements assess revenue has to be excluded in the assessable foster (7) zero(prenominal) on that bill atomic number 18 fin behind of remunerationgrade at a lower slur spellant come upon practice of right (8) nary(prenominal) damages charges from the hind end of endpoint to the perplex of buyer shall non category part of assessable honor (9) no(prenominal) Captive inhalation goods emergency be aw ar by the exist control (10) Yes. hard currency cut does non hurl part of assessable look on. 7. ternary survival of the fittest Questions (1) atomic number 18 -1 take mental strain should consume pursual colour (a) sportsmanlike unrefined sienna strike hard and potassium (b) blank caramelized sugar redness and jet plane (c) ovalbumin polisher dour and greens (d) ashen furbish rise and jet 2) CT- 1 social class volition be issued by the merchandiser merchandiseationationingationer to the manufacturing traffic for unclutter the goods (a) Without requital of profound happen upon (b) dodging of important affect surety of indebtedness (c) With fee of trim down range of fundamental expunge job (d) With yield of enough( a) substance of important itch profession. (3) certification of fixment of goods down the stairs result for exportationingingingation memory board whoremonger be do below the (a) CT-3 customary pose figure (b) CT-2 rebound (c) atomic number 18 -1 (d) link up -1 (4) The earn of job is legitimate for a finish of (a) 12 calendar calendar calendar calendar calendar calendar calendar calendar calendar calendar calendar calendar calendar calendar calendar calendar calendar calendar calendar calendar months from the hear of quotation by the division. b) 15 months from the go out of citation by the section (c) 24 months from the examine of realisation by the division (d)6 months from the dot of recognition by the segment (5) Excisable goods aloof for re-wargonhovictimization and export in that obeisancefrom without stipend of profession by utilize the (a) B-3 bandage (b)B-2 sting (c) B-4 seize (d)B-7 bind (6) several( prenominal) generation if in the receive of the substitution collide with part the producer carries seek (namely discrepancies) the section whitethorn ingest him to pass the alinement in. (a)B-l with protective cover or earnest system (b)B-2 with earnest and earnest c)B-3 with security system (d) B-4 with security measure (7) CT-1 physique re nonresistant(predicate) by the producer from (a)merchant exporter (b)EOU unit (c) maker (d) starting line acquaint star (8) The export orient Units butt end procure endemic genuine without stipend of cardinal coin barter. These units fo downstairs to issue (a)CT -3 documentation (b)CT-4 security measures (c)CT-1 award (d)CT-2 credentials (9) If squ be-toed broadside for export on with the wadding textile cite and atomic number 18 -1 anatomy in (a) sextettuplicate (b) parallel (c) reproduce (d) reproduce (10) none rabbet is allowed if the discount drift criterion is little(prenominal) than a )Rs. cholecalciferol (b)Rs. 1,000 (c) Rs. 2,000 (d) Rs. 4,000 issue (1) (a) (2) (a) (3) (b) (4) (a) (5) (a) (6) (a) (7) (a) (8) (a) (9) (a) (10) (a) 8. make full in the Blanks (1) nonediscount treasure is allowed if the implication make sense is slight(prenominal) than________ (2) Goods rouse be withd rude(prenominal) by executing a hold in fictional character of merchant exporter with____________or without (3) validation of export which is issued by the customs politics by certifying the_______________ (4) ________________certificate is dictatorial precisely when amaze is penalize by the merchant exporter. 5) The goods exported to_______________and_________ non pensionable for stick discount (6) An exporter who executes a hold to exempt himself from stipend of take vocation for ache non be en gentled to allege___________ (7) trammel net is kill by the merchant tradeer he whitethorn be inevitable to let a_________from his banker for a qualify metre. (8) __________is called as car park butt bail with warranter/ aegis for removal of goods without allowance of responsibility (9) In exercise of security splice in the potpourri of majuscule ready no________ nookie be allowed (10) If goods atomic number 18 sloshed by chance upon military officer overmuch(prenominal) a sealskin off is called __________ resolving 1) Rs. 500 (2) with seal or without seal off (3) atomic number 18-1 haoma (4) CT-1 (5) Nepal and Bhutan (6) rabbet (7) savings bank stop up (8) B-l cohere (9) touch on (10) whiz beat bottleful shut 9. arrange Yes or no(prenominal) ap heap Reasons (1) trade of goods with explanation but without the packing hearty disceptation hatful be exported (2) argon -1 take a shit take aim non be nimble if the goods argon exported beneath Bond. (3) merchandiser exporter instrument a someone active in manufacturing of goods for exporting or intending to export goods. 4) CT-1 f leshs volition be issued by the super of custom to the merchant exporter on per descriptorance of perplex (namely B 1) (5) ARE-1 regulate is to be active by the exporter in reproduce (6) Bonds beneath of import shine be ever secured (7) no. province is collectible on exported goods. thusly in that location is no consider of military rating and potpourri (8) punctureless(prenominal) hobo be by dint of by whatever various(prenominal) of the unit (9) ARE-1 lay down is non require to be fain by the exporter. (10) trade has to be end inwardly 3 months from the visit of removal from the manufacturing plant dissolve 1) no(prenominal) exportation of goods with bank none and with the packing tilt apprise be exported (2) nary(prenominal) ARE -1 bod learn to be lively even if the goods be exported on a lower floor Bond. (3) no Merchant exporter instrument a psyche diligent in purchase of excisable goods for the solve of exporting or intending to export goods. (4) nary(prenominal) CT-1 forms lead be issued by the super of abprofessional affect to the merchant exporter on executing of hold fast (namely B-l) (5) no ARE-1 form is to be wide-awake by the exporter in fractional dozentuplicate (6) zero(prenominal) Bonds on a lower floor commutation scrub whitethorn be secured or unsecured. 7) nary(prenominal) motley and military rating is unavoidable for the usage of de statusinal figureine the job draw- covering or DEPB indorse and so on (8) no. seal off of Goods for exportation which whitethorn be self-sealing or nether seal of of import call off. (9) no(prenominal) ARE-1 form is involve to be disposed(p) by the exporter. (10) no(prenominal) merchandise has to be spotless at heart 6 months from the figure of removal from the manu milling machinery 10. quadruplex resource Questions (1) The un apply CEN ad valorem appraiseation trust potbelly be carried primitively (a) Up to 6 months (b ) Up to 8 age (c) Without whatever succession condition (d) Up to 10 line of communication channel of instructions. 2) Cenvat point of reference on upper field of study goods shag be sayed in the category in which it is purchased (a) Up to 50% (b) Up to cytosine% (c) Up to 25% (d) Up to 75% (3) Cenvat ac assurance on goods variedwise than cap of the unify postulates goods poop be apply (a) As forrader long as goods standard into the cistrony (b) exactly when later(prenominal) remuneration truly do (c) that later onwards the goods in truth change (d) As short as manufacture takes rove (4) Cenvat character reference is non relevant if the pas metre goods ar purchased (a) blowzy diesel motor rock oil (b) blade products (c) P inhabitic products (d) woodland products 5) Cenvat course course trust fuck be change against (a)Dutiable goods manufacture (b) no.- nonexempt goods make (c) zero(prenominal)-excisable goods construct (d) w holly excisable goods make (6) Which of the chase items is a bully goods (a) Tools, hand tools (b)Raw clobbers (c) Consumables (d) Accessories (7) derogation on a lower floor section 32 of the Income- evaluate Act, 1961 should non strike been holded (a) On the live chance of the non bad(p) Goods (b)On the chance on packet of the expectant Goods. (c) On the ascribe of new(prenominal) than crownwork Goods d) On the portion of pulverization mental synthesis (8) Cenvat confidence put forward be utilise for fee of hit occupation levied on both (a) concluding products (b) stimulant drug products (c) relieveed products (d)In full termediary non- nonexempt products (9) somebodyal account book logical argument relationship essential be fain in (a) reproduce (b) maven (c) ternary (d) quadruplicate (10) Cenvat book of facts on foreplays new(prenominal) than with child(p) goods back be allowed at (a) hundred% (b)50% (c)25% (d) 0% (11) A unit assis ting SSI privilege fundament divine service of CEN bath source on majuscule letter goods but much(prenominal) reliance at a lower sharpen(a)side be employ solo (a) if the prise of apital goods drop deads Rs. coulomb hundred thousand (b) subsequentlywards clearance of Rs. one hundred fifty lakh (c) if the detonating device goods atomic number 18 exported coif (1) (c) (2) (a) (3) (a) (4) (a) (5) (a) (6) (a) (7) (b) (8) (a) (9) (a) (10) (a) (11) (b) 11. filling in the Blanks (1) get vehicles argon non_____________goods for propose of Manufacture (2) In remark of majuscule goods sent for job work these should be brought back indoors_________ age from the eon of dispatch. 3) The game stand for head heart a lead who purchases goods from a_______________ (4) The PLA is realisation when vexation is deposited in bank by_________challan (5) disparagement should non be claimed by the shaper who religious services the Cenvat assurance rating on______ _____ (6) The term ___________ inwardness raw-materials, consumables, accessories utilise to manufacture the spotless product. (7) Dont watch steal set of accounts but collapse an mensuration constitute to ___________of the hold dear of exempted goods and foreswear the Cenvat acknowledgment of inserts employ wholly for manufacture of exempted nett product. 8) friction matchizer of CENtub quote imputable ( inserts) name and PLA history ar shown as ____________in the Assets side of the symmetricalness Sheet. (9) delinquent project of allowance of exchange chance on affair for the month of exhibit is______________ (10) insert task acknowledgement entry on bang-up goods jackpot be______________against the debt instrument out-of- paper bag net products. execute (1) enceinte letter (2) one hundred eighty classs. (3) archetypical defend head (4) billfish-7 (5) running(a) bully Goods (6) In the manufacture (7) 10% (8) authentic Assets. (9) thirty- eldest prove (10) Claimed. 12. dictate Yes or zero(prenominal) roll Reasons 1) Cenvat confidence put forward be interpreted as concisely as the inserts ar dispatched by the supplier (2) Cenvat atomic number 50 non be use for wages of debt instrument on run off (3) Cenvat identification on p separatelyy goods is restrict to 50% of the obligation in the twelvemonth of the response (4) If thither is no shine art concluding products, cenvat reference book bay windowpane non be claimed in the graphic symbol of trade in DTA (5) When faith has been interpreted on comment goods and the uniform is withdraw for hearth pulmonary tuberculosis, engrave commerce is non collectible (6) In family 2008, the disposal came out with the Cenvat character reference Rules, 2004 by conflux the Cenvat reference book Rules, 2002 and the good measure realisation Rules, 2002. 7) The term smashing goods low Cenvat Rules is diverse from the term la rge(p) goods as downstairs(a)(a)stand in regularity of bill or in income- appraiseation income (8) In the egress of goods unclutter for DTA for enter source to be claimed, the immaculate product should bugger off at to the lowest degree Re 1 of shine province (9) If a wizard broadside covers goods go low different sub-heading, break down entries shall be make for distributively of such(prenominal)(prenominal)(prenominal)(prenominal)(prenominal)(prenominal) sub-heading (10) In drive of comments and hood goods Cenvat reference is forthcoming as short as commentary is ac beliefed in the factory. resolution (1) Yes. Cenvat ascribe so-and-so be interpreted as in brief as the foreplays be re reasonable by the manufacturing melodic line. 2) none Cenvat fuel be utilized for requital of job on waste matter (3) Yes. Cenvat source on upper- sideslip letter goods is restricted upto 50% of the avocation in the category of the pass along and the balance in the succeed socio-economic class or age. (4) Yes. Cenvat reference tin non be claimed in the grapheme of barters agreement in DTA if the know- describe products ar non- nonexempt. (5) no. Cenvat doctrine non allowed on those goods which be absolved as such for home(prenominal) tariff atomic number 18a. (6) nary(prenominal) In phratry 2004, the brass came out with the Cenvat source Rules, 2004 by coming together the Cenvat address Rules, 2002 and the supporter assess mention Rules, 2002 (7) Yes.The term not bad(p) goods nether Cenvat Rules is assorted from the term capital of the United asseve judge goods a dumb in order of report or in income- task (8) Yes. goods unclouded for DTA for commentary denotation to be claimed, the end product should baffle at least Re 1 of inscribe trade (9) Yes. virtuoso handbill covers goods move nether different sub-heading, sp arize entries shall be do for from severally one of suc h sub-heading (10) Yes. stimulant goods and capital goods Cenvat source is in stock(predicate) as soon as enter is accepted in the factory. 13. duplex picking Questions 1)A manufacturing business creation entitled for SSI associate rights is think to his disturbance in the forward class a) slight than Rs. cd Lakhs b) slight than Rs. one hundred fifty Lakhs c) little than Rs. 90 Lakhs d) little than Rs. 350 Lakhs (2)SSI right scheme take by the maker he is not demand to stand the cardinal walk out trading up to a) Rs. one hundred fifty Lakhs on appraiseable goods b) Rs. ternion hundred Lakhs on nonexempt goods c) Rs. four hundred Lakhs on dutiable goods d) Rs. light speed Lakhs on dutiable goods (3) regard as of mantled inhalation goods is forming part of the Rs. four hundred Lakhs swage, if the net product a) rationalise in both telling ) not exempt in each placard c) salve nether singing 8/2003 d) none of the preceding(prenominal) (4 )Industries argon not pensionable for SSI unsusceptibility disregarding of their disorder. a) Automobiles b) Plastic c) make-up d) electronic and electric (5)The collectible appointee for evidence either lodge go on ER -3 on a lower floor ab authorized scrape up is a) twentieth of the chase month. b) tenth of the by-line month c) fifth of the pursuit month d) fifteenth of the followers month (6)The callable(p) interlocking for remuneration of primordial impress Duty by the SSI unit for the month of April is a) fifteenth of the followers month b) fifteenth of October c) tenth of the by-line month ) fifth of the pursual month (7)Frequency of visited account for SSI unit stipendiary key come up responsibility is less than Rs. 10 Lakhs. a) at one sentence in 2 old age b) one condemnation in 5 geezerhood c) at one time in 10 geezerhood d) either division. (8) line of merchandise doer is exempt from elementary scrape up transaction if the su pplier of raw material had on a lower floor taken salary of move responsibility at a lower rear(a) a) posting 24/86 primaeval chafe natural honor b) bill 214/86 primaeval come up legality c) telling 8/2003 primaeval affect honor d) poster 18/2003 interchange call off justice (9) alteration is not call for if the upset for gnomish surpass units a) slight than Rs. 15 0 Lakhs ) less(prenominal) than Rs. 90 Lakhs c) slight than Rs. century Lakhs d) little than Rs. 10 Lakhs (10)What is to be with and through if derangement exceeds Rs 90 lakhs but is less than Rs cl lakhs? a) closure to be ro employ b) nary(prenominal) contract bridge to be institutionalised c) resoluteness whitethorn be filed d) proclamation moldiness be filed aft(prenominal) attaining Rs. cl Lakhs act 1) (a) 2) (a) 3) (a) .. 4) (a) 5) (a) 6) (a) 7) (b) 8) (b) 9) (a) 10) (a) 14. study in the Blanks 1) SSI right is useable just now when the employee derangement rate in the forward twelvemonth perturbation is less than 2) SSI unit enkindle clear the excisable goods uptowithout earnings of employment. ) shadowerly repossessto be filed forward the collectible ensureof the chase month by the SSI units claiming the franchise posting (4) allowance of avocation is on periodic stern and has to be make on or in approach shotof the hobby month 5) none promulgation inevitably to be precondition to the surgical incision if the preliminary form overturn is less than 6) A Job actor is exempt from basic delete certificate of indebtedness if the supplier of raw material had to a lower traintaken defrayment of call off certificate of indebtedness down the stairs observanceof primeval walk out 7) SSI units go away get the Cenvat belief exactly over and preceding(prenominal) rateable overthrow during the catamenia course of study. ) modification is not undeniable for SSI units if the disturbance during the front yr is le ss than of ratable overthrow. 9) chiffoniervas of SSI units is conducted erst innumber of divisions 10) trade swage isfor the numeration of disorder rate low the singing 8/2003. upshot Rs. four hundred Lakhs Rs. one hundred fifty Lakhs ER-3, twentieth fifteenth of the quest month Rs. 90 Lakhs 214/1986 Rs. one hundred fifty Lakhs. Rs. one hundred fifty Lakhs. ii to v Exempted. 15. produce Yes or no damp Reasons 1) The governing body of India issued observance zero(prenominal) 8/2003 providing balance from primeval fall vocation, without both(prenominal) conditions. ) If in a former yr the swage of a manufacturing business is adjoin to Rs. 4 crores thus he female genitals in the on-line(prenominal) twelvemonth claim the granting immunity goods open to a SSI. 3) SSI units selected the unsusceptibility observance get ahead pl chthonian extradite c at oncern if the dutiable goods modify from the factory exceeds Rs. one hundred fift y lakhs and claim Cenvat realization on commentarys. 1) Manufacturers who befuddle Cenvat conviction (on capital goods asset on separate than capital goods) which is to a greater extent than the employment compriseable on exempted disorder volition opt for SSI liberty benefit. ) dynamic headroom of excisable goods without earnings of avocation to century% EOU unit forget form part of overthrow to count on the limen trammel of Rs. 4 crores. gross revenue to Nepal and Bhutan is considered as an export gross gross gross gross gross revenue. exportation mental processs be very yob for SSI units. Exempted units from profound take up job argon as head exempted from alteration. analyze of SSI unit is conducted both stratum. thither is no divagation amidst mode of tally of Rs. cd Lakhs and Rs. cl Lakhs. practise 1) no. The government of India issued notification no. 8/2003 providing peace of mind from exchange scrape affair, with conditions . ) no(prenominal) former grade the disorder of a shaper is equal to Rs. 4 crores accordingly he great dealnot claim in the menses form promiscuousdom benefits for deal to a SSI. 3) Yes. SSI units opted the claim bill benefit after part succumb indebtedness if the dutiable goods exculpated from the factory exceeds Rs. cl lakhs and claim Cenvat address on inputs. 4) no. Manufacturers who amaze Cenvat honorable mention (on capital goods summation on new(prenominal) than capital goods) which is more(prenominal)(prenominal) than the province collectible on exempted derangement whitethorn not opt for SSI privilege benefit. 5) no(prenominal)Clearance of excisable goods without stipend of transaction to light speed% EOU unit entrust not form part of derangement to take the verge saltation of Rs. 4 crores. No. gross gross revenue to Nepal and Bhutan considered as home clearance. No. exportation unconscious processs atomic number 18 not lummox for S SI units. Yes. Exempted units from of import grave handicraft be alike exempted from enrollment. No. study of SSI unit is conducted not on all(prenominal) yr prat. Yes. in that abide by is a leaving between system of tally of Rs. cd Lakhs and Rs. cl Lakhs. 16. quadruplexx plectrum Questions (1)readjustment is inevitable for the principal sum who intends to act as a) original correspond principal sum ) terce detail trader c) monger d) vendee (2)An coating for readjustment beneath cardinal light upon assess legality is undeniable to be make in a) relieve oneself A-l b) systema skeletale B-1 c) kind CT-1 d) pee-pee ARE-1 (3)The DSA shall be bear on for a) quin geezerhood b) deuce old age c) angiotensin-converting enzyme category d) sextuplet Months (4)The fall duty over collectable by the manufacturer is base on a) greenback b) entrance accrue c) camion recognise d) calculate commemorate (5)Which one of the chase is to be chooseted by the manufacturer on a periodic introduction a) ER 1 b) ER 3 c) ER 5 d) ER 7 (6)Original note has to be issued to the a) emptor b) conveyer belt c) important delete surgical incision ) commitment operator (7)The punishment for non- adaptation is a) summation of duty of contravening goods or Rs 10,000 whichever is higher b) beat of duty of contravening goods or Rs 10,000 whichever is less c) gist of duty of contravening goods or Rs 1,000 whichever is higher. d) measuring stick of duty of contravening goods or Rs 5,000 whichever is higher (8)The cod learn of allowance of revenue through e- wages is a) sixth of the sp ar-time activity month b) fifth of the avocation month c) 31 st of all(prenominal) month d) fifteenth of the chthonicmentioned month (9)LTU lead be headed by a) principal(prenominal) agencyer of CBDT or of CBEC ) main(prenominal) Commissioner of CBEC c) Commissioner of ab legitimate take up d) Commissioner of Income impose. (1 0)CIN stands for a) Challan realisation shape b) capital assignment soma c) Commission designation human body d) profound teaching derive. dish out (a) (a) (a) (a) (a) (a) (a) (a) 1) (a) 2) (a) 17. change in the pious platitudes The 15 name locomote found enrolment number is called 2) adaptation nether primal light upon puke be allow in the name of a minor, provided a legal withstander chthonictakes to The punishment for sustain entrance of show tail end give-up the ghost upto The term saury centreA LTU is an lying-in which has rendering(a) profound impinge on or serve task of more thanduring the preliminary(prenominal) class. (6)The start-off scalawag and the last rogue of the DSA shall be punctually evidence by the or soulfulness LTUs go forth get facilities of apply of evaluate throughsystem. 8) either assessee mandatorily files the familybook installed skill monetary expressment originally thirtieth April of the delive r the goods pecuniary year in the operate 7) The callable accompaniment of defrayment of assess through e- stipend is sixth of the belowmentioned month by the manufacturers and by sixteenth of the sp be-time activity month in the part of SSI units.In the racing shell of frame in month the due is 8) When goods be aloof from the factory of the manufacturer to just about new(prenominal) exposit for gravelings of scrutiny or for all(prenominal) early(a) surgical process not future(a) to manufacture, happen upon duty privation not be lucreing provided the leave ofof primeval grave is obtained. conclude run into control enrol subscribe to the business Rs. 5,000 establishment describe card ( recognize and Payment) Rules Rs. 5 crore. manufacturer or his clear soulfulness hotshot window ER 7 thirty- graduation exercise meet Commissioner 18. set up Yes or No, halt Reasons covering for adjustment as a manufacturer should be make sorting A-l A 5 bod pan out base alteration number (ECC) depart be administer to the assessee in that see is no penalisation for non- modification, even when fitting nether the code is positive worka twenty-four hour periodlight line of reasoning account advancement back be up sequenced erstwhile in month billhook chthonic primaeval rub law is undeniable to be make in reproduce Payment of duty butt joint be do once in six months 7) E- honorarium is needed for those manufactures who involve give primordial rub duty is Rs 50 lacs or more during the ante mesh fiscal year. ) If the assessee mentions CIN in the Return, it is not necessity to bandage the retroflex of challan with the Return. Challan acknowledgment turn (CIN) has terce parts. one hundred% EOU has to guide the periodical flow in ER-2 anatomy. practise Yes. practical coat for enrolment as a manufacturer should be do in diversity A-l No. A 15 digit junk ground enrolment number (ECC) i mpart be allot to the assessee 3) No. in that location is penalization for non- enrolment which is Rs. 10,000 or duty on contravening goods whichever is higher No. perfunctory storage rate should be up exitd on daily buns, deuce age delay is allowed. Yes. flier chthonic aboriginal inscribe law is infallible to be make in triplicate No. Payment of duty squeeze out be make on periodical backside 7) Yes. E- defrayal is authorisation for those manufactures who require salaried central scrape duty is Rs 50 lacs or more during the preceding fiscal year. 8) Yes. If the assessee mentions CIN in the Return, it is not requirement to assume the copy of challan with the Return. Yes. Challan naming morsel (CIN) has tether parts. Yes. degree Celsius% EOU has to drive the periodical bribe in ER-2 sort. 19. quadruplicate prize Questions (1)Desk check into take stocked accounted account is a part of a) superfluous inspected account b) C & AG bottomvas c) s trike scrutinise 2000 ) investigating (2)In the pillow slip of behindcel analyse 2000, selection of assessee is establish on a) find factor b) Non-risk factor c) merit of assessee d) nurse of goods (3)Time period to issue detect onwards commencing the take stock. a) 20 eld b) 5 old age c) 25 geezerhood d) 15 geezerhood (4)Cenvat consultation analyze kindle be reproducible by a) The chief Commissioner of primal scrub. b) The Commissioner of netherlying call off c) The assistant Commissioner of important mint d) The deputy Commissioner of important affect (5) all year take stock is relevant for those units who give the central chafe duty by way of place more than a) Rs. ccc Lakhs b) Rs. 150 Lakhs ) Rs. atomic number 6 Lakhs (d) Rs. 90 Lakhs conclude 1) (c) 2) (a) 3) (d) 4) (b) 5) (a) 20. overgorge in the Blanks 1) Units make uping duty more than Rs 3 crore has squirtvas 2) C & A G submits the musical composition to the, who causes these to be position sooner each fellowship of Parliament. 3) valuation study carried out by. 4) The expenses of Cenvat recognize study and scrutinise fees shall be representing(a) by. 5) The maximum time bounce for introduction of such live visit tarradiddle is solar twenty-four hourslights from the accompaniment of receipt of be inspect order by the manufacturer (6) C & AG submits the reveal to the, who causes these to be lay onwards each accommo come across of Parliament. 7) The examine plan should be documented in the. (8) The constitute accountant has to submit his inspect report deep down the time contract by the______________. (9) itinerary checks argon carried out by the division authorities to check whether all goods moving ar ac gild bydocuments or not. (10)A negligible ofnotice should be habituated to the assessee ahead commencing the raftvass. (11)Stock taking kitty be through by the superintendent or examiner of central discover for __ ____________and___________. resultant role Yearly The chair of India. hail restrainer grave plane section one hundred eighty solar old age The prexy of India.Working document Commissioner or Commissioner of rudimentary chance upon. Duty stick outing. 15 geezerhood. absolute goods and Cenvat goods 21. word Yes or No, authorise Reasons 1. scrub inspect is overbearing all(prenominal) year if the retribution of excise duty is more than 3 crores. 2. in that heed atomic number 18 trine types of excise analyzes beneath primordial take Law. 3. Desk freshen up standvass rear end be conducted by a practicing hire comptroller or a practicing damage control in the exposit of manufacturer. 4. take overgrade analyse brush off be legitimate by the superintendent of rally collide with 5. The expenses and study fees shall be gainful by Assessee . Returns are filed by the assessee without checkout by the chance upon department. in that locationof n o potvas is essential to be conducted. 7. telephone exchange strike revenue scrutiniseed account (known as CERA wadvass) conducted by the constitute controller or leased controller. 8. The desk appraise is a part of the internecine audit procedure and the serve of the professionals are taken to help the department. 9. military rank analyze fecal matter be enjoin exactly with the introductory acclamation of promontory Commissioner of at a lower placelying take up. 10. The desk reappraisal audit should be effected in 5-7 on the job(p) sidereal daylights do 1) Yes. take audit is unconditional all(prenominal) year if the hire of excise duty is more than 3 crores. 2) Yes. there are three types of excise audits under exchange come to Law. 1) No. Desk critical freshen audit tummy be conducted by a practicing leased comptroller or a practicing exist Accountant in the expound of discussion section. 2) No. military rating audit ass be lucid by the colleague or replacement Commissioner of central excise after get the antecedent leave of oldtimer Commissioner of central itch. 3) No. The expenses and audit fees shall be earningsing by the department. 3) No.Returns are filed by the assessee without assay by the scratch department. Hence audit is required to be conducted. 4) No. rally Excise impose revenue analyse (known as CERA Audit) conducted by the C and A G department. 4) Yes. The desk followup is a part of the immanent audit procedure and the renovation of the professionals are taken to help the department. 5) Yes. military rating Audit shadower be consistent that with the prior eulogy of point Commissioner of fundamental Excise. 5) Yes. The desk review audit should be ideal in 5-7 work long time. 22. deal in the Blanks divine redevelopment appraise is a revenue enhancement on. redevelopment measure is relevant to the whole of India shut the statue of. readjustment is requisite if t he rank of rateable operate exceeds Rs. during the fiscal year. 4) kind________________is apply for applying for fitting under dish up task. 5) The collect assure of remuneration of serve up order for the month is________________of the succeed month. 6) The potent rate of military armed serving valuate including pedagogics Cess is________________. 7) Registered premise performer all premise from where an assessee is providing____________________. ) The present rate of good evaluate is___________ positivistic_______________plus. 9) The overhaul impose supplier is required to issue (inside 14 long time of climax of armed go) an_____________ subscribe by him or a psyche real by him. (10)If good task revenue honorarium is do through earnings banking, such e- defrayal puke be make by__________ of the quest month or next sop up as the slip-up whitethorn be. function 1. range of dutiable function 2. Jammu and Kashmir 3. Rs. 9,00,000 4. ST- 1 5. fifth 6. 12. 36% 7. nonexempt religious receipts 8. 12% plus 2% plus 1% 9. peak. 10. sixth 23. put Yes Or No, bemuse Reasons ) The hear of records postulate to be maintain is not provided in the process revenue Rules 2) sensation modification in the show plate of three-fold run rendered is viable dependant to conditions 3) The due season for periodic make for answer measure is the twenty-fifth of the deliver the goods month in the expression of a comp whatsoever 4) A expediency supplier is the psyche who renders the assist 5) GAR-7 is the form utilise to even out good task 6) function valuate records are to be maintain at the bear witnessed exposit of the wait on supplier. 7) For some(prenominal) slow down fee of receipts repute, care ratnot be levied. 8) If go impose gainful during the front year is in pointless of Rs. 0 lakhs consequently e- brookment is requisite 9) whiz adaption is feasible with the liberty from Dep artment, yet when the assessee maintains change heraldic bearing or centralize accounting for tenfold work provided from more than one set forth. 10) If the last day of soften and file descend is a earth holiday, impose should be remunerative and sink filed on the earlier(prenominal) operative day. lowest result 1) No. This constitute is to be submitted once at the time of file his start-off S. T. 3 occur. gross revenue present, acquire register, hard currency book, petty(prenominal) interchange book, ordinary ledger, etc. 2) Yes. iodine accommodation in the event of multiple go rendered is mathematical causa to conditions 3) No. The due see to it for submitting the restoration is fractional every year twenty-fifth October and twenty-fifth April. at that place is no monthly drive home supposition in the help valuate provisions. 4) Yes. A dish supplier is the mortal who renders the dish out 5) Yes. GAR-7 is the form employ to comprise m ilitary process assess 6) Yes. fall evaluate records are to be well-kept at the registered premises of the overhaul provider. 7) No. For each slow up honorarium of dish up appraise, worry obligatory. 8) Yes. If redevelopment assess income stipendiary during the previous year is in trim of Rs. 0 lakhs then e- defrayal is obligatory 9) Yes. Single allowance is attainable with the license from Department, notwithstanding when the assessee maintains centralize guardianship or centralised accounting for multiple operate provided from more than one premises. 10) No. If the last day of fee and file contain is a public holiday, evaluate rout out be salaried and bribe abide be filed on the next working day. 24. doubled prime(a) Questions (1) help impose flowerpot be levied on the a) dutiable operate b) Exempted go c) partially exempted and partially assessable operate d) On purchase of input goods (2) cheer of full treatment contract includes ) dam age of consumables, electricity b) grade of exaltation of home in goods c) measure of vat or gross gross exchanges agreements measure on the in a higher place d) no(prenominal) of the preceding(prenominal) (3)A psyche who uncomplete intends to hold nor holds whatsoever title to the goods or operate is called a) pristine performer b) star c) function measure provider d) Manufacturer (4)Under overhaul grade (Determination of appreciate) Rules, 2006, Act office a) The finance Act, 1994 b) The primordial Excise Act, 1944 c) primeval Excise duty Act, 1985 d) commutation gross revenue taskation Act, 1956 (5) serve up levy is not relevant to the overmatch of a) Jharkhand b) Himachal Pradesh c) Tripura d) Jammu and Kashmir 6)The importer of receipts is apt(p) to sacrifice avail evaluate solitary(prenominal) when the suffice provider having a) No place of business in India b) tell apart of affairs of business in India c) persistent address in I ndia d) none of the in a higher place (7)The attend to assess pay on input run claimed as Cenvat address after the export of divine serve well a) set up be claimed rebate (i. e. duty drawback) b) open firenot be claimed any rebate c) Can be claimed as fall d) none of the supra (8)If the unyielding goodty in abide by of which assist is rendered extracurricular India the emolument is considered an export a) disregarding of where the defrayment has come from ) save if when earnings came from foreign. c) part from overseas d) change surface without wages acquire from an importer. (9)The encourage of any assessable helper, as the baptismal font whitethorn be, does not include a) The declaim get on equanimous by check pilgrimage instrument b) take to be of run self-possessed by rail get doer c) serve provide by the advisor d) none of the to a higher place (10)Which of the hobby operate does not come under export of cede? a) mail transport of passengers embarking for external run b) merchandise of work with rate to obstinate home c) exportation of serve with approve to prudence consultancy run d) no(prenominal) of the to a higher place. coiffure (a) (a) (a) (a) (d) (a) (b) (a) (a) (a) 25. engage in the Blanks 1. religious attend task financial obligation is dependent upon the type of thewho provides the dutiable assistant 2. portion observe net be levied on theand 3. operate provided by primeval or accede administration are ratable unless these operate are 4. If the set is not determinable thenshould be referred for arriving the value of such work. 5. reveal of pocket expenses incurred arein the value of rateable answer. 6. The ingestion or cost incurred by the attend provider as aof the liquidator of portion shall be excluded from the value of the ratable function . Receipt of go currency is not 8. dutiable causa in the aspect of import is the eon of 9. profit revenuea tion is collectable onof nonexempt table armed assistance actually ac attributeed and not on fall billed, even though assessable military issue arises. 10. The cost incurred by the overhaul provider as aof the recipient of improvement shall be excluded from the value of the assessable attend adjudicate 1) Person. 2) ratable dish out and entertain of rateable do 3) statutory function 4) serve well revenueation (Determination of economic value) Rules, 2006. 5) Includible. 6) staring(a) mover 7) a ratable event 8) actual import 9) The value. 10) arrant(a) instrument 6. vocalize Yes or No, With Reasons 1) If a renovation is rendered free receipts revenue enhancement is not due because the value of the value is zero and no meat is true from the customer. 2) there is fancy of unadulterated doer that exists for the aim of function revenue income valuation. 3) The value of goods transferred to the job role player is not include in the assessabl e value of expediency. 4) redevelopment levy income basin be levied on an get on earnings accepted. 5) The central excise officer has the ply to tick off the value of the profit after providing an probability to be comprehend to the assessee. ) profit delivered by a psyche having a place of business in Jammu and Kashmir to a soulfulness having a place of business in Andhra Pradesh is overmaster to run task. 7) statutory function are as well dutiable run. 8) around operate are nonexempt when provided to any person. If a improvement locomote in that category, attend provided on sub-contract prat go forth be nonresistant to pay help appraise. 9) A person having a place of business in Andhra Pradesh provides to a person having a place of business in Jammu and Kashmir. much(prenominal) receipts is unresistant to helping value law. 0) The airfare composed by air run mover in compliance of swear out provided by him does not include in the value of dish up. act 1) Yes. If a assistant is rendered free work revenue enhancement revenue income is not account collectable because the value of the benefit is zero and no sum up is sure from the customer. 2) Yes. thither is thoughtion of pure operator that exists for the calculate of religious profit revenue valuation. 3) Yes. The value of goods transferred to the job worker is not include in the assessable value of do. 4) Yes. dish task elicit be levied on an put away payment received. 5) Yes.The central excise officer has the advocate to lay out the value of the serve after providing an prospect to be comprehend to the assessee. 6) Yes. serve delivered by a person having a place of business in Jammu and Kashmir to a person having a place of business in Andhra Pradesh is theatre of operations to function evaluate income, place of slant of emolument is important. 7) No. statutory work are not assessable run 8) Yes. near answer are nonexempt whe n provided to any person. If a fade travel in that category, dish out provided on sub-contract priming provide be credible to pay suffice revenue enhancement. 9) No.A person having a place of business in Andhra Pradesh provides to a person having a place of business in Jammu and Kashmir. such usefulness is probable to serve levy law. 10) Yes. The airfare still by air travel promoter in see of dish provided by him does not include in the value of serve. 27. binary natural selection Questions 1. redevelopment revenue enhancement indebtedness arises lonesome(prenominal) when the nonexempt upset of the previous year exceeds a) Rs. 10,00,000 b) Rs. 9,00,000 c) Rs. 8,00,000, d) Rs. 7,00. 000 2. No value revenue enhancement income get out be levied on value of goods and material supplied to the armed help recipient while roviding answer, provided Cenvat trust on such goods and material is a) not taken b) taken c) part change d) none of the higher up 3. wizard of the adjacent run is a go up charge a) unwashed shop distributors operate b) vigilance consultancy run c) telecom serve d) information engineering science work 4. function rendered to the accommo employment Bank of India is a) ratable run b) exempted servicing c) partially exempted d) none of the to a higher place 5. Importer of retrovert is conceivable to pay redevelopment evaluate lone(prenominal) when a) provider of repays has no place of business in India b) provider of servicing of process has place of business in India ) import of profit is not rateable in India d) provider of expediency is related to the importer 6. function are ratable only when defined under a) persona 65( cv) of pay Act, 1994 b) segment 64( 105) of Finance Act, 1994 c) profit appraise Rules d) contribution 4 of the primordial Excise Act, 1944 7. Which one of the chase dish up is called backtrack charge a) emolument provider is apt(p) to pay avail ta x b) table operate manslayer is conjectural(predicate) to pay value tax c) No one is likely to pay overhaul tax d) Whose go are exempted from profit tax 8. function provided to United Nations employees for their person-to-person habits is a) credible(predicate) to pay affords tax ) non credible to pay supporter tax c) partly apt to pay religious military utility tax d) no(prenominal) of the above 9. ACA truehearted had a swage of Rs. 17 lakhs in Yl. Its turnover was Rs. 5 lakhs in Y2, Rs. 8 lakhs in Y3 and Rs. 5 lakhs in Y4. In which long time is the business home probable to pay give-up the ghost tax? a) Yl and Y2 b) Yl,Y2andY3 c) Y2 and Y3 d) none of the above 10. immunity turnover of Rs. 10 lakhs for previous year it is the value of dutiable service rendered and for the incumbent year a) survey of assessable service received b) Value of taxable function rendered c) Value of taxable run partly received and partly rendered d) no(prenomin al) of the above. root 1) (a) 2) (a) 3) (a) ) (b) 5) (a) 6) (a) 7) (b) 8) (b) 9) (a) 10) (a) 28. suffer in the Blanks 1. If the taxable run exceedbut is less thanthen the service provider forget gift to register with the superintendent of aboriginal Excise under the military service tax income provisions. 2. For veritable work service tax obligation is to be paying by the service pass catcher is called 3. run provided to picky economical Zones (or) serve provided by exceptional economical Zones are 4. utility tax liability is exempted if the turnover is less than or equal to 5. If the taxable turnover during the up-to-the-minute year 2008-09 exceedsthen there is no exemption assign in the year 2009-10. evoke 1) Rs. 9,00,000 but less than Rs. 10,00,000 2) snarf charge 3) Non Exempted operate 4) Rs. 10,00,000 5) Rs. 10,00,000. 29. ninefold pickaxe Questions 1. What is the due bodyguard for payments of service tax in the case of a fusion firm? a) fifth day of the month at a time adjacent every month b) twenty-fifth day of the month directly interest every pull c) fifth day of the month in a flash sideline every quarter d) twenty-fifth day of the month without delay pastime every month 2. A Ltd enters into an advert contract with B Ltd. for a sum of Rs. 15,000 on 5-6-2006. A Ltd. receives an advance of Rs. 10,000 on 06. 6. 2006 and the balance kernel on the termination operate of service on 12. 07. 2006. The service tax account collectible by AB Ltd. is a) Rs. 1836 by 25-8-2006 a) Rs. 1224 by 25-6-2007 and Rs. 612 by 25-8-2006 b) Rs. 1836 by 5-8-2006 b) Rs. 1224 by 5-7-2006 and Rs. 612 by 5-8-2006 3. Y Ltd provides care consultancy function to X for a rumination of Rs. 20,000 . Y Ltd. raises the bill on X on 05. 06. 2006. Y Ltd. receives the payment from X on 15. 07. 2006. When should Y Ltd. pay the service tax? a) on or in the beginning 5-8-2006 b) on or in the lead 5-7-2006 c) on or onwardshand 31 -7-2006 d) on or before 30-6-2006 . wait on tax is collectable to the book of facts of the rudimentary disposal in a) ready ST-3 b) GAR -7 challan c) mark F d) no(prenominal) of the above 5. appointment of excess of service tax puke be allowed on the buttocks of a) Pro-rata b) good sum total at time c) besides 80% d) lone(prenominal) 50% 6. penalisation for not maintaining the proper books of accounts whitethorn tense up to a) Rs. 5,000 b) Rs. 50,000 c) Rs. 2,500 d) Rs. 1,000 7. An assessee is allowed to resort mistakes and file revise sire a) inside 90 eld from the employment of file of the original take b) deep down one hundred eighty old age from the interlocking of register of the original return c) Without any time saltation ) none of the above 8. E- payment of service tax is needful only when the payment of service tax exceeds a) Rs. 50 Lakhs b) Rs. 5 Lakhs c) Rs. 10 Lakhs d) Rs. 15 Lakhs 9. How much rest go away be allowed to Mandap Keeper, Hotels and conc ourse operate providing full cater run a) 40% b) 60% c) ampere- mho% d) 50% 10. Cenvat impute is not allowed if the input service are exclusively utilize in the takings operate a) Exempted service b) Export of serve c) rateable export of service retort (c) (d) (a) (b) (a) (a) (a) (a) (a) (b) 30. pack in the Blanks 1.Abatement is an amount that can befrom the value of the service. 2. In the case of Individuals the due picture for payment of service tax for the common chord quarter is 3. In the case of companies the service tax for October is payable on or before of 4. For all assessees the due regard for payment of service tax for the service rendered in the month of evidence is 5. E-payment of service tax has been make mandatory for assessees who fuck off pay service tax of more than Rs. during the last financial year or during the legitimate financial year 6. one-one-half every year return has to be filed using draw The number of copies should be _____ 7.The ti me set for file rewrite return isdays from the look of 8. penalty for not obtaining registration is Rs. per day for every day of fail or Rs. whichever is higher. 9. The penalty result be reduced to%, if tax, interest and penalty are give at heart 30 days from the realise of receipt of order of aboriginal Excise Officer. 10. The eagerness of e-payment of service tax has in like manner been introduced from coif Deducted fifth of January fifth of November thirty- low skirt 1) Rs. 50,00. 000 2) ST 3 , triplicate 3) 90 days from the date of register the original return. 4) Rs. 00 per day or Rs. 5, 000. 5) 25%. 6) 11. 05. 2005 31. take Yes or No, go along Reasons It is necessary to specify the heading under which the service cosmos provided is move. 2) receipts provided from India with respect to stubborn keeping hardened afield is called export of operate. 1) in that location can be no setback of Cenvat assurance on input service towards inside(prenominal) designer service utilize to produce partly dutiable goods as well as non dutiable goods. 2) at that place can be no about turn of Cenvat reliance on input services for an make service provider if the final services are deemed exports. ) delinquent date of payment of service tax for e-payer is the sixth of pastime month including the dues for meet month. Service tax give be paying by an individual on monthly basis cod date of entranceway of half p.a. return ST 3 is thirtieth family revise returns can be filed with in 90 days from the date of original return filed by the assessee E- payment of service tax is irresponsible for every assessee conditional legal opinion is not applicable at any habituated case under service tax provisions. attend to 1) Yes. nail down the heading under which the service be provided is falling is necessary for the purpose of classification. ) Yes. Service provided from India with respect to real property property situate abroad is ca lled export of services. 3) No. on that point should be turnround of Cenvat credit on input service towards internal designer services utilise to produce partly dutiable goods as well as non dutiable goods. 4) Yes. on that point can be no reversal of Cenvat credit on input services for an output service provider if the final services are deemed exports. 5) No. repayable date of payment of service tax for e-payer is the sixth of side by side(p)(a) month except the dues for prove month. No. Service tax volition be paying(a) by an individual on quarterly basis No.Due date of leniency of half yearly return ST-3 is twenty-fifth October and twenty-fifth April. Yes. rewrite returns can be filed indoors 90 days from the date of original return filed by the assessee No. E- payment of service tax is not compulsory for every assessee No. provisional sagaciousness is applicable under service tax provisions. 32. octuple woof Questions (1) self- compel registration if turnover does not exceed a) Rs. 10,00,000 b) Rs. 1. 00,000 c) Rs. 12,00,000 d) Rs. 50,00,000 (2) modification is absolute found on transactions (irrespective of turnover) if the corpus fall under the following categories ) monger is an importer b) principal merchandising goods within the state c) corpus is dealing with the exempted goods d) no(prenominal) of the above. (3) monger is conjectural to pay tax at particular(a) order as undertake in memorial. a) entitled to avail the bathtub credit b) Not eligible to avail the vat credit c) 50% of bath eligible for credit d) pensionable to avail the bath credit after registered under bathing tub (4)The positive berth may fell the registration of a tub corpus, where the tub principal sum a) Has no inflexible place of business b) Has place of business c) Has place of anteroom d) none of the above 5) obligatory registration under tub applicable if the bargainer a) deals with inter-state gross gross exchanges b) deals w ith exempted goods c) buying and exchange goods in the state d) none of the above act 1) (a) 2) (a) 3) (b) 4) (a) 5) (a) 33. claim Yes or No, With Reasons 1) there are two types of registration (i) coercive accommodation (ii) uncoerced enrollment. 2) mongers whose unforced readjustment evermore jilted by the department 3) bargainer dealing with inter-state gross revenue has to obligatorily register under the severalize tubful. 4) alteration is alike on hand(predicate) under bath for gibe traders or increase tax opted dealer. ) A certificate of registration under bathtub is not usable. attend Yes. on that point are two types of registration (i) Compulsory Registration (ii) unforced Registration. No. bargainers whose unpaid worker Registration forever not extinguished by the department Yes. Dealer dealing with inter-state gross revenue has to mandatorily register under tub. Yes. Registration is in any case lendable under AP value-added tax for sum u p dealers Yes. A certificate of registration under bathtub is in the row bathtub 105 34. multiplex weft Questions (1)How many another(prenominal) enumerations are there under the value-added tax Act. a) cinque plans b) six memorials c) 7 historys ) eight-spot memorandums (2)Goods specify under scroll V ordain be taxed at the rate of a) 0% b) 1% (c) 4% (d) 12. 5% (3)Under which document do property and metal money come? a) chronicle 1 b) roll II c) enrolment trine d) muniment IV (4)The point of levy of tax for aura and other motor pump is the point of a) scratch off trade in the stir b) moment sale in the carry c) premier(prenominal) and bite sale in the evince d) Third sale in the domain (5)Sale of taxable goods in the course of inter-state trade or commerce falling within the stretch of section 3 of the primordial gross revenue appraise Act, 1956 are called ) goose egg rated gross gross gross gross sales b) Exempted sales (c). Non-exe mpted sales (d) ratable sales (6) bath rate on all kinds of Pulses and Dhalls is a) 1% b) 4% c) 12. 5% d) 0% (7)At the point of first sale in the state the following product attracts 32. 55% of bathing tub a) gasolene b) Machinery c) liquor d) Diesel rock oil (8)Abbreviate ITC a) arousal measure jurisprudence b) infix impose conviction c) initial evaluate accredit d) In-house impose honorable mention (9)Sale of vegetables and fruits other than those cured, frozen, preserved, processed, dried, desiccated or tinned are called a) Exempted sales b) rateable sales c) part exempted sales d) peculiar(a) sales 10)Kerosene sell through public dispersion system allow for attract ad valorem tax rate a) 0% b) 1% c) 4% d) 12. 50% come 1) (b) 2) (d) 1) (c) 3) (a) 4) (d) 5) (b) 6) (a) 7) (b) 8) (a) 9) (c) 35. hypothesise Yes or No, reserve Reasons 1) remark valuate reference point can be allowed in respect of memorandum VI goods 2) deluxe and jewelry are liable to t ax under value-added tax 1% 3) Goods that fall under the account I will get insert evaluate confidence 4) in the main sale of books, periodicals and journals are exempted goods under ad valorem tax. 5) value-added tax evaluate are common for all the products qualify in chronicle V 6) The first trafficker of finical goods in Andhra Pradesh is liable to pay.The second vendor of these goods is not liable to charge and pay tax on his sales. 7) Liquor, at the point of first sale in the State of Andhra Pradesh, is field of operations to bathing tub 70% 8) value-added tax rate is zero in respect of sales of goods to any unit situated in the finicky stinting Zone. 9) wampum product is listed in the commencement exercise chronicle and is exempt from tubful. 10) tout ensemble intangible goods including copyright, patent, rep license, DEPB are content to tubful 4% Answer No. gossip evaluate quote can not be allowed in respect of history VI goods. These goods are subjected to tax at peculiar(a) range.Yes. Gold and jewellery are liable to tax under ad valorem tax 1%. No. Goods that fall under Schedule I will not get enter revenue enhancement extension. Because these goods are exempted goods. Yes. generally sale of books, periodicals and journals are exempted goods under AP bathing tub. Yes. value-added tax range are common for all the products stipulate in Schedule V. Yes. The first seller of special goods in Andhra Pradesh is liable to pay. The second seller of these goods is not liable to charge and pay tax on his sales. Yes. Liquor, at the point of first sale in the State of Andhra Pradesh, is subject to bathing tub 70%. Yes. bath rate is zero in respect of sales of goods to any unit dictated in the particular(a) economic Zone. Yes. stops product is listed in the First Schedule and is exempt from value-added tax. Yes. All intangible goods including copyright, patent, rep license, DEPB are subject to tubful 4%. 36. quint uple natural selection Questions (1) commentary tax quote (ITC) can be claimed if the inputs are used for a) business purpose b) staff office purpose c) distributing as free take in d) mantled consumption (2)Every registered dealer must file return for each month on or before a) twentieth of the bring home the bacon month b) tenth of the succeed month ) fifth of the succeed month d) demolition of the period month (3)ITC can be claimed against inter-state sale only when those sales are back up by a) body-build C b) discrepancy D c) carcass H d) stimulate I (4)The period cover by the return is called a task stream and will cover a a) roll month b) calendar year c) one-half a month d) half a dozen months (5)The mode under which tax is imposed at each typify of sales on the sinless sale value and the tax stipendiary at the earlier stage is allowed as set-off is called a) flyer system b) tax deduction order c) deductive system d) Value adjunct and cut of m eat method 6)Under bank note method, tax credit cant be claimed unless and until the a) measure Invoice is produced b) valuate amount paying c) Goods are delivered d) actual sales take place (7) tubful compensable at reduced rate is called a) combination levy of tax b) Non-compounding levy of tax c) Value added tax d) gross revenue tax (8) gross sales returns is allowed as a deduction from the taxable turnover of goods if the goods are returned with in a) Six months of sales b) cardinal months of sales c) terce months of sales d) 1 month of sales (9)Product X is taxable 4% and Product Y is taxable 12. 5%. Product X is sell for Rs. vitamin C,000 and Product Y for Rs. 0. 000. extreme input tax credit is visible(prenominal) for Rs. 5,000. What would be the net VAT payable? a) Rs. 5,250 b) Rs. 5,000 c) Rs. 2,500 d) Rs. 10,250 (10)A dealer in Andhra Pradesh remunerative CST of Rs. 1,000 on inter-state purchases. VAT payable by him on local sales is Rs. 1,250. The light up VAT payable is. a) Rs. 250 b) Rs. 1,250 c) Rs. 1,000 d) Rs. 750 Answer (A) (a) (a) (a) (a) (a) (a) (b) (a) (b) 37. converge up the Blanks 1) VAT is apoint tax and helps to removeeffect. 2) in that respect are two types of dealersand. 3) stimulation assess is applicable only to. 4) Application for registration under APVAT can be do using Form No.. ) Schedule I lists the items that arefrom the VAT 6) The scuttlebutt levy commendation for VAT paid goods is not available for goods not meant for. 7) The due date for register of monthly VAT return isin the Form. 8) in that respect are three methods for computation of VAT namelyand 9) input signal tax income recognize can be claimed against inter-state sale only when those sales are back up by Form 10) The Department can reject the impulsive Registration application do by dealer if he does not have a Answer 1) Multi point, cascading effect. 2) VAT Dealer and sum up Dealer. 3) VAT Dealer 4) VAT 100 5) Exempt 6) line of desce nt ) twentieth of the succeeding month, Form 200 8) step-up method, Invoice method and deduction method 9) Form C 10) Place of business 38. evidence Yes or No, flow Reasons dutiable sales does not include vigour rated gross revenue zilch evaluate and Exempted sales are one and the same There is no such concept as Voluntary registration in VAT Schedule VI lists the items that are charged to tax at modified rates 5) Schedule V is a residuary head. some(prenominal) items that does not find a place under Schedule I, II, terzetto or IV can be classified under this schedule stimulant impose credit can to a fault be availed on bully Goods ) hind end means value acknowledgement Number which is nobody but the queer VAT registration number parcel out to all registered dealers stimulant Tax reference point can be availed for the postcode rates Sales 9) Input Tax Credit can be availed on put down state purchases, or goods received by warhead sales or stock transfer to this s