Payment of Duty

Description: This quiz covers the topic of Payment of Duty under Indian Law and Central Excise Law.
Number of Questions: 15
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Tags: indian law central excise law payment of duty
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Which of the following is not a mode of payment of duty under the Central Excise Act, 1944?

  1. Cash

  2. Bank Draft

  3. Credit Card

  4. Pay Order


Correct Option: C
Explanation:

Credit Card is not a mode of payment of duty under the Central Excise Act, 1944.

What is the due date for payment of duty under the Central Excise Act, 1944?

  1. 15th of the following month

  2. 20th of the following month

  3. 25th of the following month

  4. 30th of the following month


Correct Option: A
Explanation:

The due date for payment of duty under the Central Excise Act, 1944 is 15th of the following month.

What is the penalty for late payment of duty under the Central Excise Act, 1944?

  1. 1% of the duty amount per day

  2. 2% of the duty amount per day

  3. 3% of the duty amount per day

  4. 4% of the duty amount per day


Correct Option: A
Explanation:

The penalty for late payment of duty under the Central Excise Act, 1944 is 1% of the duty amount per day.

What is the procedure for payment of duty under the Central Excise Act, 1944?

  1. File a return with the Central Excise Department

  2. Pay the duty amount to the Central Excise Department

  3. Both A and B

  4. None of the above


Correct Option: C
Explanation:

The procedure for payment of duty under the Central Excise Act, 1944 involves filing a return with the Central Excise Department and paying the duty amount to the Central Excise Department.

What is the format of the return to be filed for payment of duty under the Central Excise Act, 1944?

  1. ER-1

  2. ER-2

  3. ER-3

  4. ER-4


Correct Option: A
Explanation:

The format of the return to be filed for payment of duty under the Central Excise Act, 1944 is ER-1.

What are the documents required to be attached with the return for payment of duty under the Central Excise Act, 1944?

  1. Invoice

  2. Bill of Entry

  3. Shipping Bill

  4. All of the above


Correct Option: D
Explanation:

The documents required to be attached with the return for payment of duty under the Central Excise Act, 1944 are Invoice, Bill of Entry, and Shipping Bill.

What is the time limit for filing the return for payment of duty under the Central Excise Act, 1944?

  1. 15th of the following month

  2. 20th of the following month

  3. 25th of the following month

  4. 30th of the following month


Correct Option: A
Explanation:

The time limit for filing the return for payment of duty under the Central Excise Act, 1944 is 15th of the following month.

What is the mode of payment of duty under the Central Excise Act, 1944?

  1. Cash

  2. Bank Draft

  3. Pay Order

  4. All of the above


Correct Option: D
Explanation:

The mode of payment of duty under the Central Excise Act, 1944 is Cash, Bank Draft, and Pay Order.

What is the consequence of non-payment of duty under the Central Excise Act, 1944?

  1. Penalty

  2. Interest

  3. Confiscation of goods

  4. All of the above


Correct Option: D
Explanation:

The consequence of non-payment of duty under the Central Excise Act, 1944 is Penalty, Interest, and Confiscation of goods.

What is the rate of interest payable on delayed payment of duty under the Central Excise Act, 1944?

  1. 12% per annum

  2. 15% per annum

  3. 18% per annum

  4. 21% per annum


Correct Option: C
Explanation:

The rate of interest payable on delayed payment of duty under the Central Excise Act, 1944 is 18% per annum.

What is the procedure for claiming refund of duty paid under the Central Excise Act, 1944?

  1. File a refund claim with the Central Excise Department

  2. Attach relevant documents with the refund claim

  3. Both A and B

  4. None of the above


Correct Option: C
Explanation:

The procedure for claiming refund of duty paid under the Central Excise Act, 1944 involves filing a refund claim with the Central Excise Department and attaching relevant documents with the refund claim.

What is the time limit for filing a refund claim under the Central Excise Act, 1944?

  1. One year from the date of payment of duty

  2. Two years from the date of payment of duty

  3. Three years from the date of payment of duty

  4. Four years from the date of payment of duty


Correct Option: A
Explanation:

The time limit for filing a refund claim under the Central Excise Act, 1944 is One year from the date of payment of duty.

What are the documents required to be attached with the refund claim under the Central Excise Act, 1944?

  1. Invoice

  2. Bill of Entry

  3. Shipping Bill

  4. All of the above


Correct Option: D
Explanation:

The documents required to be attached with the refund claim under the Central Excise Act, 1944 are Invoice, Bill of Entry, and Shipping Bill.

What is the procedure for payment of duty on imported goods under the Central Excise Act, 1944?

  1. File a Bill of Entry with the Customs Department

  2. Pay the duty amount to the Customs Department

  3. Both A and B

  4. None of the above


Correct Option: C
Explanation:

The procedure for payment of duty on imported goods under the Central Excise Act, 1944 involves filing a Bill of Entry with the Customs Department and paying the duty amount to the Customs Department.

What is the rate of duty payable on imported goods under the Central Excise Act, 1944?

  1. Basic Customs Duty

  2. Countervailing Duty

  3. Special Additional Duty

  4. All of the above


Correct Option: D
Explanation:

The rate of duty payable on imported goods under the Central Excise Act, 1944 is Basic Customs Duty, Countervailing Duty, and Special Additional Duty.

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