The manner in which duties of customs are charged on goods imported into India (import duty) or goods exported from India (export duty) is based on ———–
Correct
Incorrect
Question 2 of 30
2. Question
1 points
Category: Indirect Tax Laws
————is the price of the goods as comes out of the factory. It includes cost of production and manufacturer’s margin of profit.
Correct
Incorrect
Question 3 of 30
3. Question
1 points
Category: Indirect Tax Laws
—————— is the cost at which the export goods are delivered alongside the ship, ready for shipment. It includes ex-factory +local freight + local taxes.
Correct
Incorrect
Question 4 of 30
4. Question
1 points
Category: Indirect Tax Laws
————-means the stage at which the goods are placed on board the conveyance carrying the vessel. It can be said to include FAS + loading charges + export duty cess.
Correct
Incorrect
Question 5 of 30
5. Question
1 points
Category: Indirect Tax Laws
—————is the cost at which the goods are delivered at the Indian port. It covers cost of goods.
Correct
Incorrect
Question 6 of 30
6. Question
1 points
Category: Indirect Tax Laws
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 ———–
Correct
Incorrect
Question 7 of 30
7. Question
1 points
Category: Indirect Tax Laws
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 ————
Correct
Incorrect
Question 8 of 30
8. Question
1 points
Category: Indirect Tax Laws
As per section 14 of customs act, 1962, transaction value shall not include the following
Correct
Incorrect
Question 9 of 30
9. Question
1 points
Category: Indirect Tax Laws
As per section 14 of customs act, 1962 transaction value will not apply in which of the following cases
Correct
Incorrect
Question 10 of 30
10. Question
1 points
Category: Indirect Tax Laws
For imported goods, the conversion in value shall be done with reference to the rate of exchange prevalent on the date of filing of ———–
Correct
Incorrect
Question 11 of 30
11. Question
1 points
Category: Indirect Tax Laws
For export goods, the conversion in value shall be done with reference to the rate of exchange prevalent on the date of filing ————–
Correct
Incorrect
Question 12 of 30
12. Question
1 points
Category: Indirect Tax Laws
For the purpose of customs valuation, “rate of exchange” means the rate of exchange notified by ———— shall be taken into account
Correct
Incorrect
Question 13 of 30
13. Question
1 points
Category: Indirect Tax Laws
The CBIC notifies the rates periodically, and there are separate rates for imported goods and export goods .the rate for imported goods are ————–
Correct
Incorrect
Question 14 of 30
14. Question
1 points
Category: Indirect Tax Laws
The CBIC notifies the rates periodically, and there are separate rates for imported goods and export goods .the rate for export goods are ————
Correct
Incorrect
Question 15 of 30
15. Question
1 points
Category: Indirect Tax Laws
Sub-section (2) of section 14 provides that the Board may fix ———– for any class of imported goods or 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.
Correct
Incorrect
Question 16 of 30
16. Question
1 points
Category: Indirect Tax Laws
“Goods of the same class or kind”, means imported goods that are within a group or range of imported goods produced by a particular industry or industrial sector and includes ——–
Correct
Incorrect
Question 17 of 30
17. Question
1 points
Category: Indirect Tax Laws
“identical goods” means imported goods which are same in all respects, including ———– as the goods being valued except for minor differences in appearance that do not affect the value of the goods
Correct
Incorrect
Question 18 of 30
18. Question
1 points
Category: Indirect Tax Laws
“Identical goods” means imported goods ———–
Correct
Incorrect
Question 19 of 30
19. Question
1 points
Category: Indirect Tax Laws
The term “produced” includes ————
Correct
Incorrect
Question 20 of 30
20. Question
1 points
Category: Indirect Tax Laws
The term “similar goods” means imported goods
Correct
Incorrect
Question 21 of 30
21. Question
1 points
Category: Indirect Tax Laws
For the purpose of these customs valuation (determination of value of imported goods) rules, 2007, persons shall be deemed to be “related” only if —————-
Correct
Incorrect
Question 22 of 30
22. Question
1 points
Category: Indirect Tax Laws
For the purpose of these customs valuation (determination of value of imported goods) rules, 2007, persons shall be deemed to be “related” only if ——-
Correct
Incorrect
Question 23 of 30
23. Question
1 points
Category: Indirect Tax Laws
For the purpose of these customs valuation (determination of value of imported goods) rules, 2007, persons shall be deemed to be “related” only if ———
Correct
Incorrect
Question 24 of 30
24. Question
1 points
Category: Indirect Tax Laws
Which among the following are not related persons as per customs valuation (determination of value of imported goods) rules, 2007?
Correct
Incorrect
Question 25 of 30
25. Question
1 points
Category: Indirect Tax Laws
For the purpose of these customs valuation (determination of value of imported goods) rules, 2007, persons shall be deemed to be “related” only if ————
Correct
Incorrect
Question 26 of 30
26. Question
1 points
Category: Indirect Tax Laws
In applying rule 4, the transaction value of identical goods is the goods being valued shall be used to determine the value of imported goods is at the ———–
Correct
Incorrect
Question 27 of 30
27. Question
1 points
Category: Indirect Tax Laws
In applying rule 4, if more than one transaction value of identical goods is found, ———– shall be used to determine the value of imported goods
Correct
Incorrect
Question 28 of 30
28. Question
1 points
Category: Indirect Tax Laws
As per rule 7, while determining unit price, which of the following deductions have to be made?
Correct
Incorrect
Question 29 of 30
29. Question
1 points
Category: Indirect Tax Laws
As per rule 7, while determining unit price, which of the following deductions have to be made?
Correct
Incorrect
Question 30 of 30
30. Question
1 points
Category: Indirect Tax Laws
If neither the imported goods nor identical nor similar imported goods are sold at or about the same time of importation of the goods being valued, the value of imported goods shall, be based on the unit price at which the imported goods or identical or similar imported goods are sold in India, at the earliest date after importation but before the expiry of ———–after such importation
Correct
Incorrect
Ekvij provides MCQ Tests For CA,CMA and CS examinations