Preliminary Chapter- 01
(c) taxable supply
(d) exempt supplyQ.28. “supply" means a sale or other transfer of the right to dispose of goods as owner, including such sale
or transfer under a hire purchase agreement, and also includes—
(a) putting to private, business or non-business use of goods produced or manufactured in the
course of taxable activity for purposes other than those of making a taxable supply;
(b) auction or disposal of goods to satisfy a debt owed by a person;
(c) possession of taxable goods held immediately before a person ceases to be a registered
person:
(d) in case of manufacture of goods belonging to another person, the transfer or delivery of such
goods to the owner or to a person nominated by him:
(e) all of above
Q.29. 'tax fraud' means knowingly, dishonestly or fraudulently and without any lawful excuse (burden of
proof of which excuse shall be upon the accused)
(a) doing of any act or causing to do any act; or
(b) omitting to take any action or causing the omission to take any action, including the making of
taxable supplies without getting registration under this Act; or
(c) falsifying or causing falsification of the sales tax invoices,
(d) all of above
Q.30. 'tax period' means a period of _____ or such other period as the Federal Government may, by
notification in the official Gazette, specify;
(a) one month
(b) two months
(c) three months
(d) twelve months
Q.31. In case of supply on discounted price, value of supply shall be ___.
(a) open market price less amount of tax
(b) open market price
(c) discounted price less amount of tax
(d) all of aboveQ.32. ____ means a taxable supply which is charged to tax at the rate 0%.
(a) zero-rated supply
(b) exempt supply
(c) nil supply
(d) none of aboveANSWERS
1 (a) 2 (b) 3 (d) 4 (c) 5 (d)
6 (a) 7 (b) 8 (a) 9 (c) 10 (d)11 (a) 12 (c) 13 (a) 14 (c) 15 (b)
16 (e) 17 (d) 18 (d) 19 (a) 20 (d)
21 (b) 22 (d) 23 (a) 24 (b) 25 (d)