Inter PN-7 Direct and Indirect Taxation Quiz 7

1. The term “similar goods” means imported goods:

2. Sub-section (2) of section 14 provides that the Board may fix for any class of imported goodsor export goods, having regard to the trend of value of such or like goods by notification in the Official Gazette if it is satisfied that it is necessary to do so. It is:

3. For the purpose of customs valuation, “rate of exchange” means the rate of exchange notified by             shall be taken into account.

4. For imported goods, the conversion in value shall be done with reference to the rate of exchange prevalent on the date of filing of              .

5. As per section 14 of customs act, 1962, transaction value shall also include in addition to the price, any amount paid or payable for costs and services, including  

6. As per section 14 of customs act, 1962, transaction value shall also include in addition to the price, anyamount paid or payable for costs and services, including  

7. An appeal filed under section 9B shall be accompanied by a fee of `              

8. The total period of levy of safeguard duty is restricted to years:

9. Central Government can impose the safeguard duty if it is satisfied that:

10. If which of the following conditions are satisfied, the Central Government may provide for the enhancement of the import duty ?

11. The maximum rate of additional duty is @              %

12. Any article which is imported into India is also liable to a duty equal to the excise duty for the time being leviable on a like article if produced or manufactured in India. This duty is called as            

13. Any article which is imported into India shall, in addition, be liable to integrated tax at such rate, not exceeding        % as is leviable under section 5 of Integrated Goods and Services Tax Act, 2017 on a like article on its supply in India, on the value of the imported article as determined under subsection (8) or sub section 8(A).

14. Buying commission shall be included in the assessable value. Is this statement correct?

15. Goods which are same in all respects, including physical quantity is known as:

16. As per Section 2(31), person-in-charge means:

17. Transportation charges incurred by the importee for transporting goods from factory of the exporter to the port of exportation shall be included in the assessable value. Is this statement correct?

18. Where the transport charges is not available, for ascertaining the assessable value for customs duty, the percentage of FOB value to be taken is:

19. Where the insurance amount is not available, for ascertaining the assessable value for customs duty, the percentage of FOB value to be taken is:

20. For the purpose of computing IGST on imported goods, one of the following shall not be included in the value for computation:

21. Basic custom duty on imported goods is levied at the rates specified in the:

22. Which of the following is a taxable event for imported goods?

23. The limit of exclusive economic zone of India is       from the nearest point of the baseline.

24. If location of supplier in Territorial water, then what will be considered as location of supplier?

25. On supply of OIDAR Services by a person located in taxable territory to a non-taxable online recipient. Who is liable to pay GST in this case?