Scope and Payment of Tax Chapter- 05
(c) both ‘a’ and ‘b’
(d) none of aboveQ.51. Supply of goods or import of goods specified in the ___th Schedule as specified by the Federal
Government is exempt from tax.
(a) 6
(b) 5
(c) 4
(d) 7
Q.52. The Commissioner Inland Revenue or an Officer Inland Revenue may, in respect of any
transaction between persons who are associates, determine the transfer price of taxable
supplies between the persons as is necessary to reflect the __ of supplies in an arm's
length transaction.
(a) cost value
(b) fair market value
(c) net realizable value
(d) none of above
Q.53. In case of termination of taxable activity or part thereof or its sale or transfer of ownership to a
non-registered person, the possession of taxable goods or part thereof by the registered person
shall be deemed to be a ____ supply.
(a) taxable
(b) exempt
(c) zero rated supply
(d) none of above
Q.54. The tax liability of a deceased registered person under the Act shall be the __ charge on his
estate in the hands of his successors.
(a) last
(b) first
(c) second
(d) none of above
Q.55. If a registered person is declared bankrupt, the tax liability under this Act shall pass on to the
__ if it continues to operate the business.
(a) legal representative
(b) successor
(c) estate in bankruptcy
(d) none of above
Q.56. If any difficulty arises in giving effect to the provisions of this Act or the rules made or
notifications issued there under, the ___ may through a general order or otherwise, issue
instructions-or directions, not inconsistent with the provisions of this Act, for such actions to be
taken by an Officer Inland Revenue or any other person as it considers necessary or expedient
for the purpose of removing the difficulty.
(a) Board
(b) Commissioner Inland Revenue
(c) Appellate Tribunal Inland Revenue