Federal Excise Act 2005 Pakistan Test Online

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Question 1

1. What is the term "taxable supply" in the context of the Federal Excise Act, 2005?

Answer

Goods produced locally

Answer

Goods imported into Pakistan

Answer

Any good or service exempt from excise duty

Answer

Goods and services on which excise duty is applicable

Question 2

2. Who is responsible for collecting excise duty in Pakistan?

Answer

Federal Board of Revenue (FBR)

Answer

Provincial Tax Authorities

Answer

State Bank of Pakistan

Answer

Ministry of Finance

Question 3

3. What is the tax rate typically applied to luxury items under the Federal Excise Act, 2005?

Answer

A fixed rate of 5%

Answer

No tax is applied to luxury goods

Answer

A higher tax rate compared to regular goods

Answer

A tax rate based on the market value

Question 4

4. What is the penalty for evading excise duty under the Federal Excise Act, 2005?

Answer

A warning issued by FBR

Answer

A fine or imprisonment

Answer

A tax refund

Answer

A reduction in tax rates

Question 5

5. Which of the following is NOT subject to excise duty under the Federal Excise Act, 2005?

Answer

Alcoholic beverages

Answer

Petroleum products

Answer

Household goods

Answer

Tobacco products

Question 6

6. What is the significance of "excisable goods" under the Federal Excise Act, 2005?

Answer

Goods on which excise duty is imposed due to their nature or value

Answer

Goods for export

Answer

Goods exempt from sales tax

Answer

Goods that are exempt from government regulation

Question 7

7. What does the term "excise tax invoice" refer to under the Federal Excise Act, 2005?

Answer

A document issued by the manufacturer or seller to the buyer for excise tax paid on goods

Answer

A document issued to taxpayers for claiming tax deductions

Answer

A receipt for excise duties paid at customs

Answer

A document issued by the FBR for tax payments

Question 8

8. Which of the following is covered under the Federal Excise Act, 2005?

Answer

Sales tax on goods

Answer

Excise duty on alcohol and tobacco products

Answer

Property tax

Answer

Income tax

Question 9

9. What is the process of collecting excise duties on imported goods under the Federal Excise Act, 2005?

Answer

Taxes are levied at the time of consumption

Answer

No excise duty is levied on imports

Answer

Taxes are collected by provincial authorities

Answer

Taxes are collected when goods are imported at the customs station

Question 10

10. How is excise duty calculated on goods manufactured in Pakistan under the Federal Excise Act, 2005?

Answer

Based on the cost of production

Answer

Based on the retail price of the goods

Answer

By determining the market value of the goods

Answer

A fixed amount per unit of the product

Question 11

11. What type of goods are exempt from excise duty under the Federal Excise Act, 2005?

Answer

Raw materials

Answer

Basic food items

Answer

Manufactured goods

Answer

Luxury goods

Question 12

12. Which of the following is a taxable activity under the Federal Excise Act, 2005 for manufacturers?

Answer

Export of raw materials

Answer

Transport of goods

Answer

Manufacturing of excisable goods

Answer

Import of machinery

Question 13

13. Which of the following is an example of "taxable activity" under the Federal Excise Act, 2005?

Answer

Manufacturing goods like alcohol or cigarettes

Answer

Agricultural farming

Answer

Importing goods

Answer

Providing government services

Question 14

14. Which authority administers and enforces the provisions of the Federal Excise Act, 2005?

Answer

Ministry of Commerce

Answer

State Bank of Pakistan

Answer

Pakistan Customs

Answer

Federal Board of Revenue (FBR)

Question 15

15. What is "excisable goods" under the Federal Excise Act, 2005?

Answer

Goods that are specifically subject to excise duties by the law

Answer

Goods exported out of Pakistan

Answer

Goods that are sold without any tax

Answer

Goods that are not taxed at all

Question 16

16. What does "excise duty" refer to in the context of the Federal Excise Act, 2005?

Answer

Tax imposed on goods and services considered harmful or luxury

Answer

Tax on corporate profits

Answer

Tax on international trade

Answer

Tax on income

Question 17

17. What is the purpose of "excise tax credit" under the Federal Excise Act, 2005?

Answer

To provide tax benefits for exports

Answer

To offset the excise duty paid on raw materials used in production against the duty collected from sales

Answer

To allow individuals to avoid excise duty

Answer

To reduce the tax rate for large businesses

Question 18

18. Under the Federal Excise Act, 2005, what is the rate of excise duty on tobacco products?

Answer

There is no excise duty on tobacco products

Answer

A percentage of the retail price

Answer

A flat rate regardless of quantity

Answer

A fixed amount based on quantity

Question 19

19. Which of the following items is subject to excise duty under the Federal Excise Act, 2005?

Answer

Raw materials used in manufacturing

Answer

Tobacco and cigarettes

Answer

Basic food items

Question 20

20. Which of the following goods is subject to excise duty under the Federal Excise Act, 2005 when manufactured locally?

Answer

Electronic components

Answer

Agricultural products

Answer

Alcoholic beverages

Question 21

21. What is the rate of excise duty on tobacco products under the Federal Excise Act, 2005?

Answer

Based on quantity or value of the product

Answer

10% of the total value

Answer

Fixed rate

Answer

No excise duty is applied to tobacco

Question 22

22. What type of goods are typically subject to excise duty under the Federal Excise Act, 2005?

Answer

Public sector services

Answer

Luxury goods like perfumes and beverages

Answer

Raw agricultural produce

Answer

Basic food items

Question 23

23. Which of the following is an example of a "manufactured good" under the Federal Excise Act, 2005?

Answer

Imported raw material

Answer

Agricultural products

Answer

Finished goods like cosmetics

Answer

Real estate properties

Question 24

24. Which of the following is an example of an excise duty exemption under the Federal Excise Act, 2005?

Answer

Luxury vehicles

Answer

Tobacco products

Answer

Goods exported outside Pakistan

Answer

Manufactured goods like electronics

Question 25

25. Which of the following is a key feature of the "Federal Excise Act, 2005" in relation to export goods?

Answer

Exported goods are exempt from excise duty

Answer

Export duties are set by provincial authorities

Answer

Exporters must pay excise duty at the point of export

Answer

Exporters are entitled to excise duty rebates

Question 26

26. What does the term "output tax" mean under the Federal Excise Act, 2005?

Answer

Tax paid on business capital

Answer

Tax collected on the sale of excisable goods and services

Answer

Tax on exports

Answer

Tax on income

Question 27

27. Which of the following is required for businesses dealing in excisable goods to ensure tax compliance under the Federal Excise Act, 2005?

Answer

They must provide export documentation

Answer

They must increase the price of goods sold

Answer

They must maintain records of production and sales

Answer

They must submit quarterly income tax returns

Question 28

28. What is the primary objective of the Federal Excise Act, 2005?

Answer

To impose duties on specific goods and services

Answer

To regulate property tax rates

Answer

To regulate public sector wages

Answer

To monitor business profits

Question 29

29. Which document is necessary for a business to pay excise duties under the Federal Excise Act, 2005?

Answer

Business registration certificate

Answer

Sales tax registration certificate

Answer

Excise duty registration number

Answer

Import-export license

Question 30

30. What is the procedure for claiming a refund of excise duty under the Federal Excise Act, 2005?

Answer

Refunds are automatically provided

Answer

Claim it through an online form without documentation

Answer

Only applicable to government departments

Answer

Submit a refund application with proof of payment and the excise tax invoice

Question 31

31. Which of the following statements is true regarding "excise duty on imported goods" under the Federal Excise Act, 2005?

Answer

Excise duty on imports is waived for certain goods

Answer

Excise duty is applied to imported goods at the point of entry into Pakistan

Answer

Excise duty on imports is determined based on the cost of production in the foreign country

Answer

Excise duty is not levied on imported goods

Question 32

32. What is the primary purpose of excise duty on luxury goods in Pakistan under the Federal Excise Act, 2005?

Answer

To increase exports of luxury items

Answer

To discourage the consumption of non-essential luxury goods

Answer

To encourage the production of luxury goods

Answer

To reduce the affordability of luxury goods for consumers

Question 33

33. What is "excise tax invoice" under the Federal Excise Act, 2005?

Answer

A record of sales and tax liabilities for a business engaged in excisable activities

Answer

A receipt for the payment of income tax

Answer

A document certifying the exemption from excise duty

Answer

A document issued by FBR to all taxpayers

Question 34

34. Which of the following sectors is primarily targeted by the Federal Excise Act, 2005 for excise duties?

Answer

Financial institutions

Answer

Exporting industries

Answer

Agricultural sector

Answer

Manufacturing of goods like beverages and cigarettes

Question 35

35. What is meant by "input tax" under the Federal Excise Act, 2005?

Answer

Tax collected on goods exported out of the country

Answer

Tax levied on the final sale of goods to consumers

Answer

Tax paid by consumers on goods purchased

Answer

Tax paid on raw materials used in the production of excisable goods

Question 36

36. What is "excise duty credit" under the Federal Excise Act, 2005?

Answer

A tax rebate on imported goods

Answer

A special tax exemption for large companies

Answer

The amount of excise duty that businesses can claim back

Answer

The tax paid by consumers

Question 37

37. Which of the following is the responsibility of the Federal Board of Revenue (FBR) under the Federal Excise Act, 2005?

Answer

Approving tax exemptions for all industries

Answer

Setting import duties for goods

Answer

Collecting and administering excise duties

Answer

Regulating the financial sector

Question 38

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Total Questions:	37
Time Allowed:	20 Minutes
Total Marks:	37
How to Attempt Test:	Please choose the right Option in MCQ-type question.
Test Helpful For:	FBR Sub Inspector Test Customs Inspector Test FBR Interviews FBR Sepoy Test Preparation for Customs and Tax Related Questions

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