Deck 3: Employment and Tax Laws in India

Question 1

The contribution which shall be paid by the employer to the Fund shall be

A)5%
B)7%
C)12%
D)10%

Answer 1

12%

Question 2

An employer who contravenes or makes default in complying with the provisions of section 6 of this act, shall be punishable with imprisonment for a term which may extend to _____ years

A)1
B)2
C)3
D)5

Answer 2

3

Question 3

This Act shall not apply to any establishment registered under the Co-operative Societies Act, 1912 (2 of 1912), employing less than ------- persons and working without the aid of power

A)100
B)70
C)50
D)20

Answer 3

50

Question 4

No court inferior to that of ......................class shall try any offence under this Act

A)Sureme Court
B)Presidency Magistrate or a Magistrate of the first class
C)Musiff Court
D)High Court

Question 5

Under this act, "Insurance Fund" means ……………

A)Employees' Group Accident Insurance
B)Unit Linked Insurance Plan
C)Deposit Linked Insurance Scheme
D)Medical Insurance Fund

Question 6

The Central Government has amended the ceiling for contributions under the Employees' Provident Fund and Miscellaneous Provisions Act, 1952 (EPF Act) and the Employees' Provident Fund and Miscellaneous Provisions Scheme, 1952 (EPF Scheme) from __________ to __________, with effect from 1 September 2014.

A)Rs. 5000/- to Rs.12000/-
B)Rs. 6500/- to Rs.15000/-
C)Rs. 6500/- to Rs.13000/-
D)Rs. 7500/- to Rs. 15000/-

Question 7

GST was introduced in India with effect from

A)1.1.2017
B)1.4.2017
C)1.1.2018
D)1.7.2017

Question 8

GST was introduced in Jammu and Kashmir with effect from

A)1.8.2017
B)1.7.2017
C)1.1.2018
D)8.7.2017

Question 9

Constitution Amendment Act, 2016 for GST was

A)80th
B)101st
C)122nd
D)None of these

Question 10

As a result of constitution amendment for GST a Separate List --- has been inserted in the constitution.

A)Article 246A
B)Article 146B
C)Article 122 C
D)Article 101B

Question 11

The incidence of tax on tax is called

A)Tax Cascading
B)Tax Pyramidding
C)Tax evasion
D)Indiret tax

Question 12

Under GST, 'value addition' refers to

A)Expenses 'plus' profit
B)Cost plus tax
C)Cost plus tax plus'profit
D)Tax plus profit

Question 13

UTGST is applicable when

A)Sold from Union territory
B)Goods are purchased by Central Government
C)Sold from one union territory to another union territory
D)There is interstate supply

Question 14

Integrated Goods and Services Tax is applicable when -

A)Sold in Union territory
B)Sold from one GST dealer to another GST dealer
C)Sold within a state
D)There is interstate supply

Question 15

SGST is applicable when

A)Goods are sold within a state
B)Goods are sold from one GST dealer to a customer
C)Goods are sold by a GST dealer to another GST dealer
D)Interstate supply

Question 16

The tax which was not merged into GST

A)Counterveiling Duty
B)Excise duty
C)Basic Customs Duty
D)Purchase tax

Question 17

Condition is a stipulation which is

A)Essential to the main purpose of contract
B)Collateral to the main purpose of contract
C)Not essential to the main purpose of contract
D)Collateral to the main purpose of contract.

Question 18

The sale of goods Act deals only with goods which are ______________ in nature

A)Immovable
B)Movable
C)Specific
D)All of the above

Question 19

Goods that are identified at the time of contract of sale is called _______________ goods

A)Specific
B)ascertained
C)clear Goods
D)both a & b

Question 20

_________________ is a Stipulation which is Collateral to purpose of contract

A)Condition
B)Warranty
C)Guaranty
D)Collateral Contract

Question 21

__________________________ is the concept of "LET THE BUYER BEWARE".

A)Information Center
B)Unfair Trade Practices
C)Caveat Emptor
D)Buyer Kingdom

Question 22

___________________ and _______________ are the two parties involved in Contract of sale

A)Seller & Buyer
B)Agent & Principle
C)Customer & Sales man
D)Customer and supplier

Question 23

It is a standard rule that risk follows ____________________

A)Seller
B)buyer
C)property
D)Possession

Question 24

The sale of Goods Act enforces in the year

A)1935
B)1930
C)1945
D)1955

Question 25

The subject matter of the contract under Sale of goods Act must be

A)Money
B)Goods
C)Immovable Goods
D)All of the above