1.What is called the tax that is levied on retail price of merchandise collected by retailer ?
A. Sales Tax
B. General Tax
C. Local Tax
D. Gross Tax
2. Which kind of Tax is Federal subject ?
A. Excise Tax
B. Property Tax
C. Zakat
D. General Sales Tax
3. Government of Pakistan has refused to accept IMF conditions for bailout package.Which was the toughest condition that Pakistan refused to accept?
A. Demand to increase General Sales Tax to 18 percent.
B. increase in interest rate more than 1 percent.
C. To make SBP, OGRA and NEPRA as independent.
D. crackdown against tax evaders and slash line losses of the electricity.
E. All of the above
4. In India GST became effective from
A. 1st April, 2017
B. 1st January, 2017
C. 1st July, 2017
D. 1st March, 2017

5. In India GST came effective from July 1st, 2017 India has chosen _______ model of dual ā€“ GST.
A. USA
B. UK
C. Canadian
D. China
6. GST is a _______ based tax on consumption of goods and services.
A. Duration
B. Destination
C. Dividend
D. Development

7. What does ā€œIā€ stands for in IGST?
A. International
B. Internal
C. Integrated
D. Intra
8. Which of the following tax is not subsumed in GST
A. VAT
B. Stamp Duty
C. Entry Tax
D. Entertainment Tax
9. Which of the following taxes will be levied on Imports of goods and services?
A. CGST
B. SGST
C. IGST
D. Exempt
10. SAC Code Stands for
A. Services Accounting Code
B. Software Accounting Code
C. System Accounting Code
D. Service Application Code

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