THE PUNJAB SALES TAX ON SERVICES ACT 2012 BOOK KEEPING AND AUDIT PROCEEDINGS (MCQs)

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1. “Person” includes all of the following EXCEPT





2. “Association of persons” includes





3. “Authority” means





4. “Financial year” means





5. “Goods” include





6. “Taxable service” is defined in





7. Standard rate of tax is





8. Economic activity includes





9. Economic activity does NOT include





10. Open market price means





11. Taxable services over time are treated as





12. Tax is charged on





13. Liability to pay tax is normally on





14. Reverse charge applies to





15. Exemption is granted by





16. Change in tax rate applies at





17. Withholding tax is deducted by





18. Excess tax collected must be





19. Tax payment is made at





20. Tax invoice must include





21. Records must be maintained in





22. Records retention period is





23. Audit is conducted by





24. Audit begins with





25. Registration is required for





26. Voluntary registration applies to





27. Compulsory registration is done by





28. Suspension of registration means





29. Registration can be cancelled after





30. Tax invoice is





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