MCQS FED-III

Every person who collected or collects any duty which is not payable or paid in excess and the incidence of same has been passed on the consumer shall pay the duty to the

The duty on goods shall be assessed and paid on the basis of value as determined in accordance with the

The duty on services shall be paid on total amount of charges for the including the ancillary facilities or utilities.

The duty on imported goods shall be paid in accordance with the value of goods determined under

Where any goods are chargeable to duty on the basis of retail price, duty thereon shall be paid on the retail price fixed by the ______, inclusive of all duties, charges and taxes, other than

If more than one prices are prescribed for a dutiable product, than duty will be leveled on _____ and shall be legibly printed on the packing.

For the purpose of levying and collecting duty on goods, may fix the minimum price of any goods or class or goods.

A person already registered in _____ is not obtain separate registration for excise purpose.

Where any person has not paid or short paid or has been refund the amount of duty, the such person shall be issued within years notice requiring him to show cause for payment of such duty.

No penalty under the Federal Excise Act 2005 can be levied without _____

All goods imported, produced or manufactured in Pakistan and services provided or rendered except such goods and services as are specified in  shall be exempt from whole excise duty

Every person registered for the purpose of this excise duty shall maintain and keep for a period of  years at his business premises or registered office the following record:

Serially numbered invoice under FED will be issued at the time of clearance or sale of goods. It will contain:

Penalty for non-filing of FED returns is

Penalty for non-payment or short payment of FED is higher of the Rs _____ or 5% of the duty involved.