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Created on April 10, 2026 By

CA Sonal Saboo

CMA Final

Final ITLP PN-19 Quiz 7

This quiz is based on the CMA Indirect Tax Laws and Practice paper.
Each question is multiple-choice with 4 options, and only 1 option is correct.
Attempt the quiz to test your understanding of CMA ITLP concepts.

1 / 29

Category: Indirect Tax Laws and Practice PN-19

The primary objective of the Anti-Profiteering provision under GST is to:

a. Increase GST revenue for the government

b. Ensure the reduction in prices to the consumer due to input tax credit benefits

c. Control inflation through price ceilings

d. Regulate exports and imports under GST

2 / 29

Category: Indirect Tax Laws and Practice PN-19

The Anti-Profiteering Authority can order:

a. Reduction in prices

b. Imposition of GST penalties

c. Cancellation of GST registration

d. All of the above

3 / 29

Category: Indirect Tax Laws and Practice PN-19

The complaint regarding anti-profiteering can be filed by:

a. Only registered taxpayers

b. Any consumer or registered person or trade association

c. Only the government officials

d. Only manufacturers and suppliers

4 / 29

Category: Indirect Tax Laws and Practice PN-19

Under Customs Valuation Rules, the transaction value is accepted only when:

a. Goods are imported through sea route

b. The buyer and seller are related and price is influenced

c. The buyer and seller are not related and price is the sole consideration

d. The invoice is in INR

5 / 29

Category: Indirect Tax Laws and Practice PN-19

The minimum export obligation under EPCG is generally expressed as:

a. 3 times the duty saved amount

b. Equal to the duty saved amount

c. 6 times the duty saved amount

d. 2 times the duty saved amount

6 / 29

Category: Indirect Tax Laws and Practice PN-19

Export Promotion Capital Goods license can be transferred to another company:

a. Only with DGFT approval

b. With Customs Commissioner’s approval

c. Not allowed under any circumstances

d. Freely without approval

7 / 29

Category: Indirect Tax Laws and Practice PN-19

Which of the following is not a condition for availing benefits under EPCG scheme?

a. Export obligation must be fulfilled

b. Imported goods must be capital goods only

c. Goods imported must be used within 1 year from import

d. License must be utilized within 18 months from issue

8 / 29

Category: Indirect Tax Laws and Practice PN-19

Merchandise Exports from India Scheme (MEIS) benefits are given in the form of:

a. Cash subsidy

b. Duty Credit Scrips

c. Income Tax exemption

d. Interest-free loans

9 / 29

Category: Indirect Tax Laws and Practice PN-19

The Export Promotion Capital Goods (EPCG) scheme allows import of capital goods at:

a. Zero customs duty with an export obligation

b. Full customs duty with no export obligation

c. Half customs duty with a reduced export obligation

d. Duty-free without any conditions

10 / 29

Category: Indirect Tax Laws and Practice PN-19

Refund of customs duty can be claimed by:

a. Only the customs broker

b. Any person who has paid the duty and borne the incidence

c. Only the importer

d. DGFT on behalf of exporter

11 / 29

Category: Indirect Tax Laws and Practice PN-19

Under unjust enrichment principle, refund will be:

a. Automatically credited to importer’s account

b. Paid in cash to the buyer

c. Credited to Consumer Welfare Fund if incidence passed on

d. Adjusted against GST ITC

12 / 29

Category: Indirect Tax Laws and Practice PN-19

Time limit for filing refund claim under Section 27 of the Customs Act,1962 is:

a. 6 months from the date of duty payment

b. 1 year from the relevant date

c. 3 year from the date of import

d. 3 months from date of bill of entry

13 / 29

Category: Indirect Tax Laws and Practice PN-19

Which of the following documents is essential for claiming remission of customs duty?

a. Shipping Bill copy

b. Chartered Engineer’s Certificate confirming destruction

c. IEC Certificate

d. Letter from the foreign exporter

14 / 29

Category: Indirect Tax Laws and Practice PN-19

If remission is rejected, the importer can:

a. Appeal to the Supreme Court directly

b. Abandon the goods without further liability

c. File appeal to the Commissioner (Appeals)

d. Export the goods without paying duty

15 / 29

Category: Indirect Tax Laws and Practice PN-19

Remission of duty under Section 23 must be claimed:

a. Within 30 days of import

b. Before the goods are cleared for home consumption

c. After payment of duty

d. After physical destruction of goods

16 / 29

Category: Indirect Tax Laws and Practice PN-19

Which of the following is not a valid ground for seeking remission under Customs Act?

a. Destruction of goods in warehouse by fire

b. Pilferage before clearance from customs

c. Deterioration due to atmospheric conditions in bonded warehouse

d. Loss during unloading due to accident

17 / 29

Category: Indirect Tax Laws and Practice PN-19

All Industry Rate (AIR) of drawback is notified by:

a. CBIC under Customs Act

b. Ministry of Finance under FTP

c. DGFT under Foreign Trade Policy

d. CBIC under Customs, Central Excise Duties and Service Tax Drawback Rules, 2017

18 / 29

Category: Indirect Tax Laws and Practice PN-19

The maximum drawback allowed under Section 74 if goods are exported without use is:

a. 98% of duty paid

b. 90% of FOB value

c. 50% of CIF value

d. Full refund of duty

19 / 29

Category: Indirect Tax Laws and Practice PN-19

Under Section 74, duty drawback is allowed when:

a. Imported goods are used for more than 3 years

b. Imported goods are exported as such or after use

c. Goods are exported under bond

d. No customs duty was paid at the time of import

20 / 29

Category: Indirect Tax Laws and Practice PN-19

The customs duty becomes payable in Manufacture in Bond when:

a. Goods are received in warehouse

b. Bond is executed

c. Goods are cleared for home consumption

d. Goods are exported

21 / 29

Category: Indirect Tax Laws and Practice PN-19

Goods imported for manufacturing in a bonded warehouse can be:

a. Supplied directly to DTA units without duty

b. Exported without payment of duty

c. Transferred to another bonded warehouse without permission

d. Cleared without Bill of Entry

22 / 29

Category: Indirect Tax Laws and Practice PN-19

Under Manufacture in Bond, if goods are not exported or cleared for home consumption within the prescribed time, the importer:

a. Can retain goods indefinitely

b. Is required to pay interest and duty

c. Must abandon the goods

d. Must pay IGST only

23 / 29

Category: Indirect Tax Laws and Practice PN-19

For availing manufacture in bond, the importer must obtain permission from:

a. GST Council

b. DGFT

c. Jurisdictional Commissioner of Customs

d. RBI

24 / 29

Category: Indirect Tax Laws and Practice PN-19

Which of the following is not covered under the Baggage Rules, 2016?

a. Unaccompanied baggage

b. Crew member's personal effects

c. Passenger's hand baggage

d. Commercial shipments via air cargo

25 / 29

Category: Indirect Tax Laws and Practice PN-19

Which type of courier consignments are not allowed under express courier clearance system?

a. Medicines with valid prescription

b. Animals and plants

c. Documents up to ₹50,000 value

d. Personal gifts worth ₹10,000

26 / 29

Category: Indirect Tax Laws and Practice PN-19

Which of the following items is not permitted to be imported as baggage under GFA?

a. Laptop

b. Alcohol exceeding 2 liters

c. Personal jewellery

d. Used clothes

27 / 29

Category: Indirect Tax Laws and Practice PN-19

Under residual method (Rule 8), the officer shall:

a. Choose any value arbitrarily

b. Use data from unrelated transactions only

c. Use flexible interpretation of Rules 3 to 7

d. Rely only on manufacturer’s price list

28 / 29

Category: Indirect Tax Laws and Practice PN-19

Which of the following is not included in assessable value under Rule 10?

a. Buying commission

b. Design charges incurred abroad

c. Royalty linked to imported goods

d. Cost of transport to the place of importation

29 / 29

Category: Indirect Tax Laws and Practice PN-19

Two persons are deemed to be related under Rule 2(2) if:

a. They are employer and employee

b. They are officers in the same department

c. They are competitors in the same industry

d. They have transacted in the last 12 months

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Final PN-19 Indirect Tax Laws & Practice Quiz 7

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