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11th Standard English Medium Commerce Subject Indirect Taxation Creative 1 Mark Questions with Solution Part - II updated Creative Questions

11th Standard English Medium Commerce Subject Indirect Taxation Creative 1 Mark Questions with Solution Part - II

11th Standard

    Reg.No. :
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Commerce

Time : 00:30:00 Hrs
Total Marks : 5
    5 x 1 = 5

  1. The person who is making the sale but he can recover the tax from for the buyer is_____________.

    (a)

    Direct Tax

    (b)

    Income Tax

    (c)

    Indirect Tax

    (d)

    None of these

  2. Excise Duty is levied on_________ goods.

    (a)

    Manufacturing

    (b)

    Import

    (c)

    Sales

    (d)

    Income

  3. Customs Duty is levied on_________ goods.

    (a)

    Export

    (b)

    Import

    (c)

    Entrepot

    (d)

    Sales

  4. VAT Stands for____________.

    (a)

    Valuable Articles Tax

    (b)

    Varied Activity Tax

    (c)

    Value Added Tax

    (d)

    None of these

  5. Service Tax is exempted to the traders having annual turn over less than_________.

    (a)

    Rs 10 lakhs

    (b)

    Rs 20 Lakhs

    (c)

    Rs 15 Lakhs

    (d)

    Rs 50 Lakhs

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