Taxation Quiz | Tax related Multiple Choice Questions

FBR Test → FPSC Inspector Inland Revenue Test → Taxation Quiz MCQ Questions with Answers. Tax related Multiple Choice Questions (MCQs) Test with Answers. FPSC, NTS, PPSC, SPSC, KPPSC Test Preparation Material.

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31. Which from the following is/are considered as “Good(s)”?
(A) Actionable claims
(B) Money
(C) Stocks, Shares and Securities
(D) None of these

32. Which Section of the Sales Tax Act 1990 stipulates the goods that are exempt from levy of sales tax?
(A) Section 4
(B) Section 10
(C) Section 13
(D) Section 15

33. Which Schedule of Section 13 of the Sales Tax Act 1990 includes a list of items on which no sales tax is levied?
(A) Third Schedule
(B) Fourth Schedule
(C) Fifth Schedule
(D) Sixth Schedule

34. Sales Tax is levied at the rate of _____ on all goods imported into Pakistan.
(A) 0%
(B) 5%
(C) 10%
(D) 17%

35. Selling Price is equal to
(A) Retail Price + GST
(B) Retail Price − GST
(C) Manufacturing Cost + GST
(D) Manufacturing Cost − GST

ANSWERS: TAXATION QUIZ
31. (D) None of these
32. (C) Section 13
33. (D) Sixth Schedule
34. (D) 17%
35. (A) Retail Price + GST. Next: Questions 36–40