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WorksheetsIndirect Act
Total questions: 137
Worksheet time: 2hrs 4mins
Person-in-charge in the case of a vessel or an aircraft, deliver to the proper officer …………………………. by
presenting electronically prior to the arrival] of the vessel or the aircraft, as the case may be, and in the case of a
vehicle, an import report within ………………….after its arrival in the customs station
an arrival manifest or import manifest, 12 hours
an arrival manifest or import manifest, 24 hours
import report, 12 hours
none of these
An arrival manifest or import manifest or import report is not delivered to the proper officer within the time
specified then penalty levied up to
10,000
50,000
20,000
none of these
Imported goods shall not be unloaded from, and export goods shall not be loaded on, any conveyance except
under the supervision of
the proper officer
importer himself
any authorised person
None of these
Bills of entry can be submitted…………….. days prior to expected date of arrival of vessel.
(a)
Goods may pending clearance or removal, as the case may be, be permitted to be stored in a public warehouse under section 49 for a period not exceeding
30 days
45 days
90 days
none of these
Inland Container Depot is a Custom Station duly:
Appointed by Central Board of Excise & Customs
Licensed by Central Board of Excise & Customs
Appointed by Central Board of Indirect Taxes & Customs
Licensed by Central Board of Indirect Taxes & Customs
which of the following person is included as a Person-in-Charge
Master of the Vessel
Commander or Pilot in charge of aircraft
The Conductor, guard or any other person having the chief direction of the train
All of these
The document which contains the detailed information to customs about goods in the
vessels/aircraft/ vehicle is called as
Arrival manifest or Import General Manifest /Import Manifest
Bill of entry
Import Report
none of these
The document which contains the detailed information to customs about goods in the
vessels/aircraft/ vehicle is called as
Arrival manifest or Import General Manifest /Import Manifest
Bill of entry
Import Report
none of these
Customs duty shall be levied at such rates as may be prescribed under Customs Tariff Act, 1975, or any other law in force on goods:
Imported into India by any person other than Government
Exported from India by any person other than Government
Imported into or exported from India by government
All of these
The basic condition for levy of Customs Duty is:
There must be import or export of goods
There must be import or export of services
There must be import or export of goods or services or both
All of the above
In case of import of goods, taxable event occurs when:
Goods crosses the territorial water
Goods crosses the customs barrier
Goods goods have been dispatched by the supplier
Goods become the part of land mass of India
The term Export with its grammatical variation & cognate expression means:
Supply of goods to a recipient located outside India
Supply beyond territorial water
Both a & b above
Taking out of India to a place outside India
The process of Export is said to be completed when the goods:
Reached the destination port
Crosses the Indian Port
Crosses the Indian Territorial water
Crosses the Indian Customs Water
As per Customs Act, 1962, the term “Import” with its grammatical variation and cognate
expression means:
Purchase from foreign country
Supplier is located outside India
Bringing into India from a place within India
Bringing into India from a place outside India
………… Charging section of custom duty.
Section 5
Section 7
Section 9
Section 12
Importation of goods by Government also treated at par with other imported goods. State whether the statement is true or false.
True
False
When a foreign ship coming into India for unloading of cargo then duty is payable on:
on cargo unloaded in India
Cargo including ship (as goods includes ship )
On value of vessel
None of these
Bill of entry can be presented for:
Home Consumption
Warehousing i.e. Into Bond
Clearance from warehouse for Home Consumption i.e. Ex-bond
All of these
The person liable to submit Import
Manifest is:
Importer
Exporter
Person –in -charge of Conveyance
All of these
Entry outward means general
permission by customs authority to the
master of vessels for allowing him to:
load the cargo
load passenger
load mail bags
All of these
In which of the following conveyance
Export goods not to be loaded until
Entry-Out-wards granted
Vessel
Aircraft
Vehicle
All of these
Which of the following goods can be sale by port trust authority even if
30days from unloading has not been completed
Animal
Hazardous goods
Arms and ammunition
All of these
What action can be taken by custodian
if goods not cleared, warehoused or
transshipped within given time
sale
Destroy
barter
Exchange
Import / Export goods are not to be
unloaded or loaded except -------
Importer/ Exporter itself
Under supervision of proper Officer
any authorized person
no supervision is required
Mr. Paresh imported some article on
which retail sale price is required to be
declared under “Legal Metrology Act,of
USA” and for the like article produced
or manufactured in India, Central
Government has fixed a tariff value, the
value of imported article shall be
deemed to be such:
Retail sale price
Retail sale price less abatement if any
Transaction value
Tariff value
Custom Duty is regulated in India By_____
CBE&C Board
RBI Board
Ministry of Foreign Trade
None of the above
Custom Duty Act is Launched in Year____
1960
1962
1947
1950
Sea Custom Act was passed in Year ______by Britishers
1847
1900
1878
1978
Custom Duty was lowered to 150% in Year_____
1990
2014
210
1991
Following is not covered in Goods under Custom Act
Vessels
Baggage
Stores
Farm House
The Law on Custom Duty is prepared by______
Central Government
State Government
Local Government
All of the Given
Following is not a type of Custom Duty
Basic Custom Duty
Special Custom Duty
Social Welfare Surcharge
Integrated Goods and Services Tax
Following is not one of the Administrative officer under Custom Act
Commissioner of Custom
Chief Commissioner of Custom
Additional Commissioner of Custom
Minister of Internal Affairs
Multiple Tick on the options :
Following are the types of Custom Duties
Safeguard Duty
Protective Duties
Countervailing Duties
Anti Dumping Duties
Overcharging Duties
Indian Customs Water is defined under Section
2 (28)
420
100
101
Discount is a percentage of the cost that is __________ from the total
Added
Subtracted
Multiplied
Divided
Tax is a percentage of the cost that is __________ to the total
Added
Subtracted
Multiplied
Divided
Tip is a percentage of the cost that is __________ to the total
Added
Subtracted
Multiplied
Divided
At McDonald’s a McChicken cost $1.49. Meals tax is 5%. What is the total cost?
$1.54
$1.65
$1.56
$1.42
Sales tax is...
A tax on the selling price of an item or service you purchase.
Are objects you use to pin up a sale sign.
A tax that is added to the balance of a savings account.
Mr. Lucas bought a new lounge chair for his game room. The one he chose was $425. He had to pay a sales tax of 8.2%. What was the amount of sales tax he paid on the chair?
$24.90
$44.30
$34.85
Not Here
The new oven is $628.00. The tax rate is 8%. How much will the sales tax be?
$50.24
$45.00
$750.00
$35.50
Izzy is buying a computer that costs $1459.00. The sales tax rate for the computer is 6.625%. How much TAX will Izzy pay?
$102.00
$1,555.66
$113.02
$96.66
Find the sales tax only. $199.95 ipod; 6.625% tax
$ 13.98
$ 213.95
$13.25
$15.90
Mrs. Ray is buying some groceries to cook. They total to $35.50. The tax rate in PA is 6%. How much tax will she have to pay?
$0
$35.50
$2.49
$37.99
The TV you bought was $900 and the sales tax was 10%, what was the total cost of the TV.
$900
$990
$810
$1035
Sales tax is...
A tax on the selling price of an item or service you purchase.
Are objects you use to pin up a sale sign.
A tax that is added to the balance of a savings account.
If a state tax rate is 6% and the local tax rate is 2% what is the total tax rate?
6%
2%
8%
12%
VAT stands for...
Value Added Tax
Value Added Taxes
Value Additional Tax
Indirect Tax
VAT is a/an... (tick two)
tax on consumer expenditure
indirect tax
direct tax
income tax
The VAT process starts with...
Registration
Collection
Input VAT
Output VAT
VAT is charged by....
the HMRC
a taxable person
business
individuals
Registration for VAT is compulsory if...
taxable supplies exceeds £81,000 in the past 12 months
taxable supplies exceeds £83,000 in the past 12 months
taxable supplies exceeds £85,000 in the past 12 months
taxable supplies exceeds £87,000 in the past 12 months
The threshold for compulsory registration for VAT is ...
£85,000
£85,500
£83,000
£83,500
Registration for VAT is compulsory if...
taxable supplies exceeds £81,000 in the past 12 months
taxable supplies exceeds £83,000 in the past 12 months
taxable supplies exceeds £85,000 in the past 12 months
taxable supplies exceeds £87,000 in the past 12 months
Registration for VAT is compulsory if...
taxable supplies exceeds £81,000 in the next 30 days
taxable supplies exceeds £83,000 in the next 30 days
taxable supplies exceeds £85,000 in the next 30 days
taxable supplies exceeds £87,000 in the next 30 days
Output tax is....
VAT charge on taxable supplies
VAT paid on taxable supplies
VAT charge on taxable supplies
VAT on purchases of goods and service
There are two types of registrations. What are they?
Voluntary
Compulsory
Ethical
Future test
There types of VAT rates are...
20%, 5%, 0%
20%, 25%, 10%
10%, 5%, 0%
20%, 3%, 0%
Good Customer Service helps to:
Build Your Brand
Create Trust With Your Customers
Reduce Customer Complaints & Minimise Problems
All of the Options
What makes your organisation different from similar ones?
Products & Service are the difference
We pay less so our costs are lower
We work our teams harder
Our social media & marketing is funnier
1. Basic Custom Duty rate is generally-
a. 5%
b. 6%
c. 14%
d. 10%
Custom Duty is
a. Direct Tax
b. Indirect tax
c. State tax
d. Local Tax
Custom Duty Act year is
a. 1926
b. 1962
c. 1975
d. 1957
Custom Duty is charged on-
a. Import
b. Export
c. Import –Export
d. Interstate Sales
Custom Duty Tariff Act is-
a. 1985
b. 1986
c. 1975
d. 1976
No. of Sections on Customs Act are-
a. 151
b. 251
c. 161
d.261
The term Goods includes from Customs point of view-
a. Stores
b. Ship
c. Baggage
d. All of the above
Types of Custom Duty is-
a. Basic Custom Duty
b. Social Welfare Surcharge
c. IGST
d. All of Above
Basic Custom Duty is levied on-
a. Transaction Value
b. Assessable Value
c. Import Price
d. Free on Board Price
Basic Custom Duty is levied on-
a. Transaction Value
b. Assessable Value
c. Import Price
d. Free on Board Price
Write your Email_id
Custom Duty is regulated in India By_____
CBE&C Board
RBI Board
Ministry of Foreign Trade
None of the above
Custom Duty Act is Launched in Year____
1960
1962
1947
1950
Sea Custom Act was passed in Year ______by Britishers
1847
1900
1878
1978
Custom Duty was lowered to 150% in Year_____
1990
2014
210
1991
Custom Duty was lowered to 150% in Year_____
1990
2014
210
1991
The Law on Custom Duty is prepared by______
Central Government
State Government
Local Government
All of the Given
Following is not a type of Custom Duty
Basic Custom Duty
Special Custom Duty
Social Welfare Surcharge
Integrated Goods and Services Tax
Following is not one of the Administrative officer under Custom Act
Commissioner of Custom
Chief Commissioner of Custom
Additional Commissioner of Custom
Minister of Internal Affairs
Multiple Tick on the options :
Following are the types of Custom Duties
Safeguard Duty
Protective Duties
Countervailing Duties
Anti Dumping Duties
Overcharging Duties
Indian Customs Water is defined under Section
2 (28)
420
100
101
Sales tax is
added to the price to get total
subtracted from the price to get total
What is the sale tax?
An amount can be paid by the business
Total amount must be paid for the purchase
A percentage of the amount spent on a purchase
An amount can be ignored.
Sales tax is...
A tax on the selling price of an item or service you purchase.
Are objects you use to pin up a sale sign.
A tax that is added to the balance of a savings account.
Sales tax is...
A tax on the selling price of an item or service you purchase.
Are objects you use to pin up a sale sign.
A tax that is added to the balance of a savings account.
If a state tax rate is 6% and the local tax rate is 2% what is the total tax rate?
6%
2%
8%
12%
The abbreviation 'VAT' means . . .
Variable Agricultural Tax.
Value Associated Tax.
Value Added Tax.
None of the above.
Value Added Tax . . .
is paid by the purchaser of goods and services, at the relevant rate, on the value added to them by their seller.
is collected by the Inland Revenue on behalf of the government as value is added to goods and services.
is charged at the relevant rate by the sellers of goods and services on the value added by them.
None of the above.
If the total of sales, including VAT at the rate of 10%, amounts to £ 1,800, the total of sales excluding VAT amounts to:
£1,620
£1,636
£1,720
None of the above.
The amount of VAT included in goods costing £200, inclusive of VAT at the rate of 21%, is:
£31.50
£34.71
£42.00
None of the above.
A VAT-registered car dealer allows a customer £6,500 (including VAT at the rate of 21%) for his used car as a trade-in against a new car, the retail price of which is £ 15,000 (including VAT at the rate of 21%). As a result of this transaction, the car dealer is liable to pay VAT of:
£1,475.21
£1,785.00
£3,150.00
None of the above.
During an accounting period, a VAT-registered firm incurred advertising expenditure totalling £12,500, including VAT at the rate of 25%. The charge for advertising which should be shown in the firm's profit and loss account for the same period is:
£9,375
£10,000
£15,000
£15,625
VAT is a/an... (tick two)
tax on consumer expenditure
indirect tax
direct tax
income tax
The VAT process starts with...
Registration
Collection
Input VAT
Output VAT
VAT is charged by....
the HMRC
a taxable person
business
individuals
Registration for VAT is compulsory if...
taxable supplies exceeds £81,000 in the past 12 months
taxable supplies exceeds £83,000 in the past 12 months
taxable supplies exceeds £85,000 in the past 12 months
taxable supplies exceeds £87,000 in the past 12 months
The threshold for compulsory registration for VAT is ...
£85,000
£85,500
£83,000
£83,500
Registration for VAT is compulsory if...
taxable supplies exceeds £81,000 in the next 30 days
taxable supplies exceeds £83,000 in the next 30 days
taxable supplies exceeds £85,000 in the next 30 days
taxable supplies exceeds £87,000 in the next 30 days
Output tax is....
VAT charge on taxable supplies
VAT paid on taxable supplies
VAT charge on taxable supplies
VAT on purchases of goods and service
Input VAT is...
VAT on sale of goods and services
VAT on purchases of goods and services
VAT charge on sales income
VAT exempt supplies
There are two types of registrations. What are they?
Voluntary
Compulsory
Ethical
Future test
There types of VAT rates are...
20%, 5%, 0%
20%, 25%, 10%
10%, 5%, 0%
20%, 3%, 0%
At 1 December 2018, Laurel owes the authorities £23,778. During the month of December, she recorded the following transactions:
Sales of £800,000 exclusive of 17.5% value added tax.
Purchases of £590,790 inclusive of value added tax.
What is the balance on Laurel's value added tax account at the end of December?
£54,937
£60,389
£75,788
£163,778
The following information relates to Eva Co's value added tax for the month of March 2018:
Sales (including value added tax) 109,250
Purchased (net of value added tax) 64,000
value added tax is charged at a rate of 15%. Eva Co's value added tax account showed an opening credit balance of £4,540 at the beginning of the month and a closing debit balance of £2,720 at the end of the month.
What was the total value added tax paid to regulatory authorities during the month of March 2018?
£6470
£11,910
£14,047.50
£13,162.17
The following information relates to Eva Co's value added tax for the month of March 2018:
Sales (including value added tax) 109,250
Purchased (net of value added tax) 64,000
value added tax is charged at a rate of 15%. Eva Co's value added tax account showed an opening credit balance of £4,540 at the beginning of the month and a closing debit balance of £2,720 at the end of the month.
What was the total value added tax paid to regulatory authorities during the month of March 2018?
£6470
£11,910
£14,047.50
£13,162.17
VALUE ADDED TAX is __________ to the original price.
subtracted
added
multiplied
divided
Lona wants to a buy raincoat for her goat. If the raincoat costs $40.00 and has a V.A.T. rate of 12.5%. What will be the FINAL PRICE (with tax) of the raincoat?
$45
$5
$2.
$40
Ralph buys a computer for $672. The V.A.T. rate is 12 1/2%. How much did Ralph pay for the computer?
$84
$756
$588
$634.50
What is the total cost with V.A.T.?
Price $16.64
Tax 12.5%
$19.03
$18.72
$1.08
$2.15
Customer claims that they have been billed twice for the same equipment.
Electronic billing
Tax
Payment research
Duplicate billing
Customer states that they have been charged with taxes when they are tax exempt.
Wrong customer
Tax
Backcharge
Missing equipment
Customer claims items were returned; however, they haven't received credit for the returned product.
Tax
Warranty
Returned material
Missing equipment
Customer states that they are the new owners of the building and that invoice is not theirs.
Tax
Wrong customer
Escheatment
Backcharge
Customer states that they won't pay their invoices because JCI owes to them.
Refund
Wrong customer
Electronic billing issue
AP owes Receivables
A VAT registered trader's taxable sales are:
All sales made excluding exports
All sales made including imports
All sales above £85,000
All sales apart from exempt sales
A £300 sale was made by a trader inclusive of 20% VAT. What was the net amount?
£360
£250
£240
£280
Which one of the following does NOT determine the basic tax point?
Business sends goods to customer
Business provides an invoice after 30 days
Business makes the goods available
Customer collects the goods
The amount of tax charged by a business on taxable supplies is known as
Output tax
Input tax
Standard VAT tax
Consumer tax
A business receives a pro-forma invoice. Can the business use this to make a payment for the goods?
Yes
Yes, provided they are a non-VAT registered trader
Only after 14 days
No
A purchase invoice for taxable supplies has just been processed. What will be the effect on the VAT?
Input tax will increase
Input tax will decrease
Output tax will increase
Output tax will decrease
Bronwyn has received a credit note from a supplier. As a result of this, will Bronwyn have to pay more or less VAT to HMRC?
More VAT payable
Less VAT payable
When a trader claims VAT for bad debt relief, the VAT on the bad debt will result in:
An increase in the output VAT
A decrease in the output VAT
An increase in the input VAT
A decrease in the output VAT
A customer orders and pays a 10% deposit with an order she placed on 13 Jul. The goods are delivered on 20 Jul. The business invoices the customer on 30 Jul and receives the balancing payment on 4 Aug. Select the correct tax point(s).
20Jul/30Jul
13Jul/4Aug
13Jul/20Jul
13Jul/30Jul
Decide whether the following item will be a debit or a credit entry in a business's VAT account: VAT on cash sales
Debit
Credit
A purchase invoice for taxable supplies has just been processed. What will be the effect on the VAT?
Input tax will increase
Input tax will decrease
Output tax will increase
Output tax will decrease
Bronwyn has received a credit note from a supplier. As a result of this, will Bronwyn have to pay more or less VAT to HMRC?
More VAT payable
Less VAT payable
When a trader claims VAT for bad debt relief, the VAT on the bad debt will result in:
An increase in the output VAT
A decrease in the output VAT
An increase in the input VAT
A decrease in the output VAT
VAT stands for...
Value Added Tax
Value Added Taxes
Value Additional Tax
Indirect Tax
A business allows private use of an item of property by employees.
Which of the following is correct?
All Input VAT can be claimed
Some Input VAT can be claimed
The portion of Input VAT relating to the private use can be claimed
No Input VAT can be claimed
A business provides fuel for which there is private use.
Which of the following is available to the business? Tick all that apply.
Agree not to claim any Input VAT
Reclaim some Input VAT and apply fuel scale charge
Reclaim all Input VAT and apply fuel scale charge
Reclaim Input VAT using mileage records
Which of the following statements are correct? Tick all that apply.
Fuel scale charge is based on the CO2 emission of the emissions of the vehicle
The fuel scale charge amount is VAT inclusive
The fuel scale charge amount is VAT exclusive
A partially exempt trader...
Makes standard rated, zero rated and exempt supplies
Makes standard rated, reduced rated and exempt supplies
Makes standard rated, reduced rated and zero rated supplies
Makes taxable and exempt supplies
A partially exempt trader...
Tick all that applies.
can recover all Input VAT on taxable supplies
can recover all Input VAT in exempt supplies subject de minimis
reclaim a proportion of Input VAT not directly related to taxable or exempt suppliers
can reclaim Input VAT on just the taxable supplies
