1. Sec Definition of dealer includes An Agriculturist Transporter Educational institution Broker

2.
Sec Business does not include
Seller Service
Manufacturer Book-keeper

3.
Sec "Goods" includes
Newspaper Money
Shares Movable property

4.
Sec Importer is a dealer who Sells goods within the State Manufactures goods within the State
Exports goods outside the State Brings goods from outside the State

5.
Which Sec. of the Maharashtra Value Added Tax Act, 2002 defines "Agriculture"











6.

As per the definition specified in which rule "Form" means a form appended to these rules?

Rule Rule


Rule Rule


7. In the Maharashtra Value Added Tax, Rules -2005, an agent is defined in


Rule Rule


Rule Rule


8.
Which word is defined in Rule of Maharashtra Value Added Tax, Rules -2005

Agent Form


Government treasury Commissioner


9.
Which rule of the MVAT, Rules -2005 defines principal place of business?



Rule Rule


Rule Rule


10.
Rule of the Maharashtra Value Added Tax, Rules -2005 defines

Mega project Quarter


Registering authority Commissioner


11.

Under which schedule would the goods not covered elsewhere for which rate of tax is 12·5% fall

Schedule A Schedule B


Schedule D Schedule E


12.

Of the following, which transaction will attract tax under MVAT Act

Sale outside State


Exports


Sale in the course of exports or imports


Sale within State


13.
What is the rate of tax for goods mentioned in Schedule E






12·5% 20% and above


14.
Of the following transactions, which will attract Value Added Tax

Sale of A Schedule goods


Sale of immovable property


Receipt by way of service provided


Sale ofB Schedule goods

15.

Whose liability is it to pay tax in Agent-Principal relationship?

Solely Agent Solely Principal


Jointly and Severally None of the above


16.


On which turnover of sales, legistature of Maharashtra can make law of levying sales tax?

Sale within State


Sale within State as well as Inter-State sales


Sales in the course of exports


Sales in the course of imports


17.
For the purpose of Subsection 3 of Section a unit in the Special Economic Zone means a unit

Situated in an economic zone which is declared by Government of India only.


Situated in an economic zone which is declared by State Government only.


Situated within a zone declared by Director of Industries.


Situated within a zone which is declared as Special Economic Zone by Central Government or the State Government as the case may be and certified by the Commissioner of Sales Tax.

18.
What is the maximum rate of Sales Tax prescribed in Schedule appended to MVAT Act, 2002
4% 12·5% 25% 33%
19.

For the purpose of calculating the limit of turnover of sales under Section the following are not included
All sales made by dealer or his principal


Goods Auctioned by Auctioneer for his principal


Turnover of Sale Agent of non resident dealer


Sales of Jewellery not being capital assets


20.

Under Section of the Act, voluntarily Registered Dealer is liable to pay tax on sale of goods effected when

Sale of goods exceeds 5,00,000


From the of effect of certificate


Taxable goods sold are of 10,000


Sale of goods are of 2,00,000


21.


Sec Any person can do business and is liable to tax under MiAT/CST after having

Shop and Establisment Licence Central Excise Certificate


Service Tax Certificate MVAT and CST Certificate


22.
Sec For voluntary registration the following is necessary

Turnover of sales of 5,00,000 Turnover of labour of 1,00,000


Export of goods Security deposit


23.
Provisions for Registration under the MVAT Act are mentioned in
Sec. 16 Sec. 3 Sec. 6 Sec. 20

24.
When is the Certificate of Registration not cancelled, U/S


The turnover of sales or purchases is below the relevant limit


After the death of the dealer


The dealer has transferred his business fully or partly


The dealer has shifted his place of business within the State


25.
Which information is not provided while furnishing the information regarding changes in business as per Sec

change in ownership opening a new place of business


company is involved in merger getting less profit


26. What should the dealer do if there is a change in place of business


Have original certificate amended


Have the original certificate cancelled


Apply for fresh registration certificate


Do nothing


27.
Within how many days should a change in the name of the business be informed to the Department
30 days 60 days 90 days 120 days
28.

What should a dealer do if there is more than one place of business?

Take separate registration


Add as additional place in original certificate


Inform in the department by a letter


None of the above
30. Under which Section is it necessary to take a Registration Certificate


Sec. 15 Sec. 12 Sec. 16 Sec. 22


29.
How much is the Registration Fee?
100 500 5,000 25,000


31. The order passed DIS 24 of Maharashtra Value Added Tax Act 2002 can be rectified

within a period of years from the end of the financial year in which the said order is passed.


'Ivo Three Four Five


32.
Is it necessary to give the dealer an opportunity of being heard prior to passing of
the order if as a result of such rectification order taxes leviable are getting enhanced
or reduced?

No Yes


Yes and No Nothing can be said


33. In what form the notice for the purpose of Subsection(l) of Section 24 is given?


603 303 306 307


34.
In what form does the Commissioner issue a defect notice for the purpose of Section if the returns filed by dealers are not correct or complete?
213 214 215 212
35.
Maharashtra Value Added Tax Act provides for an appeal under Section 26 excluding for the orders under Section
85(2)

36.
Review Order under Section of MVAT Act can be passed within years from the date of service of order.
Four Five Six Seven
37.
The form of notice for review of order for the purpose of Subsection of Section 25 shall be in form
307 308 309 310
38.

As per the provisions of Section 26 an order passed by Joint Commissioner of Sales Tax can be challenged before the .

Joint Commissioner of Sales Tax (Appeal)


Additional Commissioner of Sales Tax


Commissioner of Sales Tax


Sales Tax Tribunal


39.
As per the Rule of Maharashtra Value Added Tax Rules, the return must be filed by the dealer in given format by the given date.
17 18 21 22

40.
The notice for calling the dealer for assessment shall be in form



103 301 231 202


41.

If a dealer contravenes provisions of Section 86 of MVAT Act 2002, then under which of the following sections is penalty to be levied on such a dealer?





42.
Which of the following is a Non-Appealable Order?


Refund Sanctioning Order


Penalty Order DIS for contravention of provisions of Section 60


Penalty Order DIS for non filing or late filing of Returns


Penalty Order DIS for non filing audit report in form 704 by the prescribed date


43.

For the purpose ofSection 30 of MVAT Act, 2002, rate of interest shall be of the amount of tax, for each month or part thereof.


0·50 1·00 1·25 1·50

44.
As per Section 29, Assistant Commissioner of Sales Tax, can impose penalty, on his own, not exceeding
1 Lakh 2·50 Lakh 5 lakh 10 lakh

45.
For the purposes of Section of MVAT Act, 2002, penalty of has to be levied on dealer or a person, for non-filing of returns.
2,500 5,000 500 1,000
46.
Section 29 ofMVAT, Act, 2002, empowers Commissioner of Sales Tax to impose penalty on

Subordinate officers Dealer or a person


Appellate Authority All the above


47.
Section of MVAT, Act, 2002 provides for interest of a sum equal to of additional tax payable. 1·25% 15% 25% 100%

48.
No order levying penalty shall be passed in respect of any period under Sec 29(11) of MVAT Act 2002

After 8 years from the end of the year containing the said period


Mter 5 years from the endof the year containing the said period


After 3 years from the end of the year containing the said period


Mter 2 years from the end of the year containing the said period


49.
As per the provisions of Section of MVAT Act, 2002, penalty exceeding
Ten lakh, can be levied only with the prior approval of



Tribunal


Joint Commissioner of Sales Tax


Senior Deputy Commissioner of Sales Tax


Deputy Commissioner of Sales Tax


50.

As per provisions of Section ofMVAT Act 2002, interest on dealer for URD period can be levied, which shall not exceed

Amount of tax payable One and a half times the tax payable


2 times the tax payable 1 Lakh


51.
The dealer needs to pay taxes under Section for the period covered by the said return. at an interval as presc ribed
32(10)

52.
Any amount of tax, interest, penalty or fine remaining unpaid after the issue of notice can be recovered as arrears of land revenue under Section
32(1)

53.
As per the provisions of Maharashtra Value Added Tax Act, Section the amount forefeited is to be transferred to

Women and Child Welfare Fund


Sports and Youth Welfare Fund


Maharashtra Consumer Protection and Guidance Fund


Human Rights Commission Fund


54.
A Clearance Certificate may be issued within days from receipt of application of the dealer under Section of the MVAT Act.
60 Days 45 Days 30 Days 15 Days
55.
The period for making payment can be extended by the Commissioner under Section of MVAT Act.
33(2)
56.
The provisions of special mode of recovery have been made under Section ofMVAT Act.
32 33 34 35
57.
Section empowers the Sales Tax Commissioner to recover outstanding sales tax dues as arrears of Land Revenue.
14 24 34 44

58.
Section empowers the Commissioner to have provisional attachment of any money due to a person from any other person, if the first person is in Sales Tax arrears.
35(11)
59.
The period of provisional attachment is of from the issue of order under Section 35 Subsection
seven years five years three years one year
60.
As per Section an appeal against any order passed under Section will lie with
Sales Tax Tribunal Additional Commissioner ..
Joint Commissioner None of the above

61.
Section 74 of the MVAT Act, 2002 contains provisions regarding

Offences and penalties Interest and penalties


Composition scheme Set off


62.
Which is not an offence DIS 74 of MVAT Act, 2002
To furnish a false return knowingly
To keep true account of value of goods sold or bought
Wilfully evading payment of tax, interest penalty
All the above

63. For which of the following offences is there a provision of rigorous imprisonment for
a minimum of one year and maximum upto two years with fine, DIS 74 of MVAT Act, 2002

Production of false accounts, registers, etc.


Engaging in business as a dealer without being registered


Knowingly with the intention to defraud, issues or produces false tax invoice


All of the above


64.
represent oneself falsely as a registered dealer at the time of sale or purchase, is an offence DIS of the MVAT Act, 2002.
74(1)

65.

What is the punishment on conviction, if an employer, without sufficient reason, fails to deduct TDS, or pay TDS, or file TDS return

Simple imprisonment which may extend to six months and with fine


Simple imprisonment which may extend to one year and with fine


Both the above


None of the above


66.
By virtue of Section of MVAT Act, 2002, the Commissioner may

Assess the dealer


Issue notice of Assesment


Cancel the Registration Certificate


Enter and search any place of business of any dealer for inspection of accounts and stock


67.
Rule 77 of MVAT Rules, 2005 provides



Certificate to be printed on tax invoice


Form of various returns


Form of notice of assessment


Form of order of assessment


68.
Dealer can claim set-off only on RD purchase effected on

Tax invoice Cash memorandum


Sale bill All of the above


69.


If anyone commits any of the acts mentioned in Subsections to of Section 74
ofMVAT Act, 2002 then he shall be punished with a daily fine of at least
in case of continuance of offence.

50 (fifty) 100 (hundred)


500 (five hundred) 1,000 (one thousand)


70.
Section of MVAT Act, 2002 provides punishment for

failure to get the books of Alc audited as per Section 61


failure to comply with requirements of Section 64


failure to comply with requirements of Section 70


failure to comply with any notice under any proceedings


71.
If a dealer has used taxable goods as fuel then what should be the set-off reduction
from the amount of set-off otherwise available in respect of the said purchase as per Rule of MVAT Rules, 2005 ..
An amount equal to the amount calculated at the rate notified from time to time
by Central Government for the purpose of Subsection of Section 8 of the CST Act, 1956 of corresponding purchase price. •
An amount equal to three percent of corresponding purchase price
An amount equal to five percent of the corresponding purchase price
An amount equal to eight percent of the corresponding purchase price

72. If a dealer dispatches any taxable goods outside the Maharashtra State for processing and goods dispatched are brought back to the State within six months of the date of

dispatch, then what should be the set-off reduction as per the provisions of Rule of MVAT Rules, 2005


Amount calculated at the rate notified from time to time by the Central Government for the purpose of Subsection of Section 8 of the CST Act, 1956 of the corresponding purchase price


Amount equal to three percent of the corresponding purchase price


Amount equal to four percent of the corresponding purchase price


No set-off shall be reduced

73.


If a works contractor opted to pay tax on the total contract value as per Section 42 of MVAT Act, 2002 then what should be the set-off reduction as per the provisions of Rule of MVAT Rules, 2005

Amount equal to three percent of the corresponding purchase price of goods used in execution of works contract


Amount equal to 16/25 of the set-off otherwise available in respect of the corresponding purchase price


Amount equal to 9/25 of the set-off otherwise available in respect of the corresponding purchase price


Amount equal to four percent of the corresponding purchase price of goods used in execution of works contract


74. A registered reseller dealer of readymade garments purchases following goods

a.
Readymade garments

b.
Packing material

c.
Transport or goods vehicle as capital asset

d.
Passenger vehicle as capital asset


On which purchases is he not eligible to claim set-off as per Rule of MVAT Rules, 2005
a and b cand d only c only d

75.
Rules of MVAT Rules, 2005 regarding non-admissibility of set-off pertains to
which of the following items?


Purchase of crude oil


Purchase of goods of incorporeal and intangible nature


Purchase effected by the employer by way of works contract when contract
results in immovable property



Purchase of packing material


76.
Which of the following purchases are not eligible for set-off as per Rule 54 of MVAT Rules, 2005

SIM cards


Software in the hands of a dealer who is trading in software


Trade mark


Copyright which is resold within twelve months of the date of purchase

77.

Which of the following rules of MVAT Rules, 2005 is related to set-off reduction in case of manufacturer of tax free goods

Rule Rule


Rule Rule 53(7b)


78.
Which of the following Sections is related to set-off on purchases under MVAT Act, 2002
Section 47 Section 48 Section 68 Section 45
79.
As per which of the following provisions of the MVAT Act, 2002, set-off is granted to

the dealer to the extent of the tax actually paid on the goods at the time of
purchase?


Section 43 Section


Section Section


80.
On which of the following items can a registered dealer claim set-off as per Rule
of MVAT Rules, 2005


a.
Tax collected separately by registered dealer on purchases made by claimant dealer.

b.
Tax paid in respect of any entry made after the appointed day under the Maharashtra Tax on the Entry of Motor Vehicles into the Local Area Act, 1987.

c.
Tax paid in respect of. any entry made after the appointed day under Maharashtra Tax on Entry of Goods into Local Area Act, 2003.


onlya aandb


a and c All three band c


81.
Which Section speaks about availing of composition scheme by dealers under the MVAT Act, 2002
Section 40 Section 42 Section 32 Section 30
82. For the purpose of Section of MVAT Act, 2002, a dealer shall be considered

as retailer, if of his turnover consists of sales, made to persons who are not dealers.


9/10 8/10 2/3 1/3


83.


which of the following dealers is composition scheme not available, under the MVAT
Act, 2002?

Second hand car dealers Dealers of Bakery products


Manufacturers of Iron Steel Hoteliers



84.
What is the rate of tax, under composition scheme, in case of construction contracts?
5%

85.
'Construction contracts', for the purpose of Section 42 of MVAT Act 2002, means



Contracts of construction of buildings only


Contracts as may be notified by State Government in Official Gazette


Contracts of any type of construction activity


All the above


86.
Which of the following sections of MVAT Act, 2002 provides for composition of Tax?



Section 22 Section 35


Section 45 None of the above


87.


Which authority decides whether any particular dealer is a retailer or not if such a question arises

Assistant Commissioner Deputy Commissioner


Joint Commissioner Additional Commissioner


88.
What is the rate of composition tax for a works contractor other than civil works contractor?
8%
89.
Which of the following dealers cannot opt for composition?



Hotel dealer Bakery dealer


Second hand motor dealer Importer


90.
Which of the following dealers paying tax under composition scheme can collect tax separately

Retailer Bakery dealer


Hotel dealer Works contractor


91. As per Section of The Central Sales Tax Act, 1956 'transfer of property in goods

by one person to another for cash or deferred payment or for any other valuable consideration' means


Sale Price Purchase Price Sale Sales TllJIi


92.
Which Section of the Central Sales Tax Act, 1956 deals with interstate trade or commerce?
Section 4 Section 7 Section 5 Section 3
93.
The last sale or purchase of any goods preceding the sale or purchase ocC8ssioning the export is treated as [Section

Deemed export Deemed import


Export Sale in transit


94.
Which Section is called as 'charging section' in the Central Sales Tax Act, 1956 as it imposes levy on sale of goods on interstate sale
Section Section Section Section 7
95.
Burden of proof in case of transfer of goods from one state to another state claimed
otherwise than by way of sale is on [Section



The purchaser from another state


Person who transfers the transport document


The transporter


The dealer who transfers goods from one state to another state

96.

Which of folIowing declarations is necessary to claim exemption from the Central Sales Tax in case of tranllfer of goods to own branch in other state

Form Form


Form Form


97.
Under Central Sales Tax Act, what is the current rate of tax on interstate sales transactions supported by declarations in Form
4%
98.

Section 14 of the Central Sales Tax Act, 1956 is about

Transfer of documents Declared goods


Branch transfer None of the above


99.


Which of folIowing is not declared goods under the Central Sales Tax Act?

Cotton Crude oil


Wood Iron and steel


100.
Section of the Central Sales Tax Act, 1956 deals with

Interstate Sale by way of transfer of documents of title


Interstate Sale by way of branch transfer


Sale in course of import


Levy of penalty


101.


Which declaration forms are used in the claim of sale in transit by way of transfer of document under Section The Central Sales Tax Act 1956

Form-CandD


Form-FandH


Form and E1, E2


Form-Cand F


102.
Which of the following is not included in goods under Central Sales Tax Act 1956
Aeroplane Ship Paper Newspaper
103. Which Section in the Central Sales Tax Act, 1956 is related to interest and penalty?


Section Section Section Section


104.
If a person/dealer furnishes false return then
he can be penalised under Section 9 of the Central Sales Tax Act 1956
he can be penalised under Section 10 of the Central Sales Tax Act 1956
he can be penalised under Section 11 of the Central Sales Tax Act 1956
None of the above

105.
The declaration in Form I is prescribed under Central Sales Tax Rules, 1956, Rule 12(11) for

PSI units


Small scale units


Special Economic Zone units


Electricity generating units


106.


As per the amendment to Rule ofthe Central Sales Tax Act 1956 from 0111012005 single declaration in Form may cover all transactions of interstate sale effected during the

quarter financial year


six months None of the above


107.
Rule-3 of the Central Sales Tax (Registration and Turnover) Rules is related to
manner in which account shall be kept
how forms of declarations are to be obtained
Application for registration
Submission of returns

108.

The declarations prescribed under Central Sales Tax Act 1956 can be obtained from

Return branch Cross-check branch


Central Repository Refund branch


109. Section 7 of the Central Sales Tax Act 1956 is for


Registration of dealers Submission of returns


Furnishing declarations Refund


110.
Section 4 of the Central Sales Tax Act 1956 helps to determine



the state within which sale takes place


whether sale is in course of export


whether sale is in course of import


rate of tax on interstate sale

111.

Definition of 'Employee' person employed on salary or wages is given in

Section 2 of the Central Sales Tax Act 1956


Section 2 of the Profession Tax Act 1975


Section 2 of the MVAT Act 2002


Section 3 of the Profession Tax Act 1975

112.
Which Section of the Profession Tax Act 1975 is related with the registration of employer?
Section Section Section Section
113.
Persons whose monthly salaries or wages do not exceed 5,000 will pay Profession tax at per month.
175 120 Nil 250
114.
Interest under Section 9 of the Profession Tax Act, 1975 for late payment of tax is changed from p.m. to p.m. w.e.f. 01/07/2004.
3% 1·5% 1·25%

115.
Per return penalty under Section of the Profession Tax Act, 1975 for late filing of returns by employer is at
300 500 600 1,000
116.
Persons whose monthly salaries or wages exceeds 10,000 will have to pay per annum Profession Tax at
2,100 2,000 1,500 2,500
117.

Under provisions of the Profession Tax Act, 1975 following persons are exempted from paying profession tax

Members of the Army, Navy and Air force


Employees of industries


Employees of State Government


None of the above
118. As per Schedule 1 of the Profession Tax Act, 1975, dealers regestered under the MVAT
Act, 2002 and whose annual turnover of sales or purchase exceeds 25 lakh will have to pay Profession Tax per annum at
2,000 2,500 1,000 500

119.
Section of the Profession Tax Act, 1975 deals with Payment of taxes Penalties Appeals Assessment of taxes

120.
In which year was the Profession Tax Amnesty Scheme declared
2008 2009 2010 2007

121.

Who can remit the whole or part of the interest under Section of the Profession Tax Act. 1975

Finance Secretary Finance Minister


Profession Tax Commissioner None of the above


122.
Which Section in the Profession Tax Act, 1975 is about exemption from Profession Tax

Section Section


Section Section


123.
Who are exempted from paying Profession Tax
Persons who have completed the age of sixty-five
Persons who have completed the age of sixty
Persons who have completed the age of fifty-eight
None of the above

124.
As per Rule 10 of the Profession Tax Rules 1975, the Commissioner shall give a public notice in the month of every year.
June March January April
125.
Under the provisions of the Profession Tax Act, 1975, year means

Financial year Calendar year


Leap year None of the above


126.
The rate of tax on turnover of receipts for luxuries provided in a hotel where charges

for such luxury per day per accommodation are exceeding 750, but do not
exeed 1,200, is

Nil 10%

127.
Section-2 of the Maharashtra Tax on Luxuries Act 1987 is about Tax Penalty Registration Definitions

128.
In Luxuries Tax Act, definition of 'place of business' is mentioned under which of the folJowing Sections
Section Section Section Section
129.
'Luxury tax can not be levied on goods is the decision of Hon' Supreme Court in a petition related with

Godfrey Phillips India Ltd. M.M. Mehta Co.


Gimar Tea Bombay Sales Corporation


130.
Which Section is about incidence and levy of tax on hoteliers in the Maharashtra Tax on Luxuries Act, 1987

Section 5 Section 2 .


Section 3 None of the above

131.
Books of accounts, registers and documents may be seized by Investigation Officer, under Section
63 64 65 66
132. Under which Section, can provisional attachment be made? 33 34 35 36
133.
134. Under which Section, an action of special mode of recovery should be initiated? 31 32 33 34 Section 36 provides for "continuous and validation of certain recovery proceeding" in following condition If the demand raised in the appeal If the demand raised in L.T.U. If the demand raised in Investigation Branch None of the above
135. Under which Section, is "the provision of liability under the Act to be the first charge" given? 36 37 38 39

136.
Under which Section, is "the provision of liability of finns and partners" given?
44 45 46 47

137.



Recovery Branch may recover dues' from the dealer, whose liability arises m

Investigation Branch Large tax payer unit


Business Audit Branch None of the above


138.
No appeal including a second appeal shall be entertained unless it is filed within from the date of the communication of the order the appeal is against.
30 45 60 15
139. Review under Section shall not be passed after expiry of years,
from the end of the year in which the order passed by the subordinate officer has been served on the dealer.
3 4 5
140.
What does Section 85 provide for?

Extention of period of limitation in certain cases


Bar to certain proceedings (Non appealable orders)


Appealable orders


None of the above

141.

If any finn is liable to pay tax under the MVAT Act, then who shall be liable to pay such liability?

only fInn only partner


firm and each partner None of the above


142. Dues of which branch are not recovered by the Recovery Branch?


Refund Branch Business Audit Branch


Return Branch LTU Branch


143.

Registered dealer liable to me Quarterly return shall file return within days from the end of Quarter.
Thirty Thirty-one Twenty-one Twenty
144.
With whom does a second appeal lie on the order passed in appeal by DC/JC



Tribunal Add!. Commissioner


Commissioner High Court

145.
If the order is made by Sales Tax officer then the first appeal shall lie before

Assistant Commissioner Deputy Commissioner


Joint Commissioner Tribunal


146.
The dealer shall pay any amount due and payable by the dealer under MVAT Act,



2002 electronically in
Challan MTR-6 Challan 210
Challan VII B Challan 404

147.
How many divisions headed by JC are working in Mumbai for investigation?
2 Variable
148.
IfCommissioner seizes records of the dealer in exercise of power U/S 64 he may retain



them for days without recording reasons in writing.
Thirty days Twenty-one days
Sixty days Ninety days

149.
Who approves the visit proposal of investigation visit?



Commissioner Addl. Commissioner


Joint Commissioner Deputy Commissioner


150.

To whom in divisions outside the Mumbai, are the powers to enter the place of business, search and seizure delegated?

Joint Commissioner of Sales Tax Deputy Commissioner of Sales Tax


Sales Tax officer Sales Tax inspector

151.
Business-Aud it of a de aler is cond ucted VIS of the MVAT Act 2002.
22 23 24 25

152.


Business AuditlRefund Audit (intimation VIS and Investigation Branch levy interest 25% of the MVAT that is payable VIS of the MVAT Act 2002.




None of the above


153.
Fonn 704 (VAT Audit Report) is submitted U/S of the MVAT Act, 2002.
32 22 61 16

154. Input tax credit UIR 51 of the MVAT Act, 2002 is admissible to financial year only. 05 -06 07 -08 a dealer during

155.
A dealer has sold motor vehicle which was capitalised. What should be the correct rate of tax applicable to the sale of the vehicle?
4% 12·5% 20%
156.
"Stay application should be decided first before appeal decision."

True False


Not mandatory None of the above


157.
The appellant may file application for restoration against the summary rejection or dismissal of appeal for non attendance within days.


8 15 30


158.
If there is a mistake or omission in the order which is apparent from the record, the
Commissioner may rectify it UIS 24 within years from the end of the
financial year in which the original order was served.
One Two Five Eight

159. When the Commissioner is satisfied that refund is due, he shall pass an order in
Form showing the amount of refund due and shall communicate the same to the dealer.
501 502 503 504
160.
Under which Section, may refund be granted to a dealer after the audit process?
50 51 52 53
161.
Rule 51 of the MVAT Rules, 2005 relates to



Application for Refund


Claim and grant of set-off in respect of purchases held in stock as on 1.4.2005


Procedure and guidelines for audit


Interest on refund

162. Reduction in amount of set-off on the purchases of claimant dealer applies when


claimant dealer has used any taxable goods as fuel


claimant dealer dispatches any taxable goods outside the state


claimant dealer is a works contractor opting for composition scheme


All the above


163.
Identify the tax amount paid during effected purchase of goods eligible as set-off among the following

Set-off paid during purchase of passenger moter vehicle if it is a capital asset


Set-off tax on expenses debited to PIL account or the trading account


Set-off on purchases effected by way of works contract other than plant machinery


Set-off on purchases of crude oil used by the refinery for refining


164.
What is the non-admissible purchase in respect of set-off

Set-off on purchase of plant and machinery.


Set-off on purchase ofgoods which are effected on and after 1st April of the year in which the dealer has obtained registration and have been sold after the date of effect of registration. .


Set-off on purchases of moter vehicles which is treated as capital assets and the dealer is not engaged in the business of transferring the right to use.


Set-off on purchase of SIM card.


165. If a dealer has made any sale of goods and such goods are returned within the
prescribed time limit, then the goods returned shall be accounted as per Section 63 in the return •
Return due for the month of sale


Return due for the month of goods return


Last return for the financial year


Return period in which appropriate entries are taken in the books of accounts

166.
For the purpose of Audit DIS 22 the selection of dealers shall be made from amnogst r the dealers t


who have filed returns late


who have claimed refund of tax 1i:


who have prima facie made wrong deduction i


all the above

167.
What must the Auditor verify before finalising the VAT audit?



Registration details Return filing status


Accounting records All the above


168.
The scope of Audit D/S 22 does not include



Specific Audit General Audit


Refund Audit Internal Audit


169.
In which part of the audit is it important to determine/check the risk areas?

Pre-visit check


Audit visit check


Post-audit check


All the above


170.
To enter, search the place of business of the dealer and seize the books of accounts/documents are the functions of

Investigation Branch Advisory Branch


Audit Branch Recovery Branch


171.
Accounts of fixed assets and liabilities are not closed but balances are transferred to the next year by following principle of

Money Measurement Materiality


Going Concern concept All of the above


172. Capital contributed by a businessman is treated as an investment for him and a of the business.
profit loss liability asset
173. is a process of recording business transactions. Ledger Subsidiary books Book-keeping Cash book
174. qi)0l<"ll 31ffl? tr<f 4l!<Cl1'Cil q J!@gl.'fl'llid mut
175. According to which convention, is it necessary to disclose all the important and material facts in the books of accounts? Discloser Accrual Realization Consistency Amount withdrawn by the owner for his personal expenses is called Drawing Personal expenses Cash Assets
176. liability is an uncertain liability. long term contingent current fixed
177. The right side of an account is Debit Liability Credit None of the above

178. Which is not a type of account Debit account Nominal account Personal account Real account

179.
'Salary Payable' is alan
liability asset income expenditure

180. Closing Stock is recorded in books of accounts at


market price cost price


market price minus cost price cost price minus market price


181.
In Double Entry Book-keeping is prepared to ascertain arithmetical
accuracy of accounts.
Journal Ledger Trial Balance Final Accounts

182.
Choose incorrect option.

Personal account -debit receiver -credit giver of benefit


Real account -debit what goes out -credit what comes in


Nominal account -debit expenses and losses -credit income and gains


and are correct


183.
Account of expenses and losses, income and gains is Real account Nominal account Personal account Credit account
184. What is not a part of books of accounts Journal Fixed Assets Ledger Ledger Sales Tax Return


185.
In case of returns of goods purchased on credit is sent to the seller.


Adjustment Note Credit Note


Debit Note None of the above I


186.
Making entry in a ledger is called as



Journalising Posting


Balancing Adjusting

187.
Match the pairs and choose the correct optian.


I.
Trial Balance A. Net Profit or Loss


II. Trading Ale B. Statement of Assets and Liabilities
III. Profit and Loss Ale C. Statement of Balances
IV. Balance Sheet D. Gross Profit or Loss

I1I-D, IV-A I1I-B, IV-D


III-A, IV-B I1I-B, IV-A


at the end of the account at the beginning of the account


188.
Accounts of goodwill is a account.
Real Nominal Personal Goods
189.
In Ledger Account debit side appears on
left hand side right hand side

190.
Out of the following books, which is not a Subsidiary Book

Sales Register Purchase Register


Cash Book Ledger


191. Information about is obtained from the ledger. amount receivable from debtors amount payable to creditors amount of total sales all the above

192. In credit sales following account is debited:


Sales Account Sundry Debtors Account


Cash Account None of the above


193.
Excess of credit over debit in Profit Loss Account indicates
Net Loss Gross Profit Net Profit Gross Loss

194.
Final Accounts are prepared on the basis of
Journal Ledger
Subsidiary Books Trial Balance

195.
In case of return of goods purchased on credit account is debited.

Goods Goods Return


Sundry Debtors Sundry Creditors


196. Expenses Ale is a Real Ale Nominal Ale Personal Ale None of these

197.
Assets Ale is a
Real Ale Personal Ale
Nominal Ale None of these

198.
Recording of transaction in journal is called



Posting Casting Tallying Journalising



199.


Direct deposit made by a customer into our bank is recorded on the side.

Payment Credit


Receipt None of the above


200.
is a bound book of accounts.
Ledger Journal
Subsidiary book Cash book