TX E Sales tax

A registered person has output tax of Rs. 360,000 and input tax of Rs. 270,000. What is the sales tax payable?

• 1 Rs. 270,000
• 2 Rs. 630,000
• 3 Rs. 90,000
• 4 Rs. 360,000

A price of Rs. 11,800 includes sales tax at 18 percent. How much of it is sales tax?

• 1 Rs. 2,124
• 2 Rs. 1,000
• 3 Rs. 10,000
• 4 Rs. 1,800

A person sells goods for Rs. 500,000 excluding sales tax. The tax rate is 18 percent. What is the output tax?

• 1 Rs. 76,271
• 2 Rs. 590,000
• 3 Rs. 90,000
• 4 Rs. 500,000

Why is sales tax called an indirect tax?

• 1 It is charged on profits
• 2 It is collected by a business from customers and paid to the tax authority
• 3 It is paid only by companies
• 4 It is paid by employees

Who collects sales tax on services in Pakistan?

• 1 The provincial revenue authorities
• 2 The courts
• 3 Only the FBR
• 4 The banks

Input tax is more than output tax in a period. What generally happens to the excess?

• 1 It is lost
• 2 It is always refunded in cash
• 3 It is carried forward
• 4 It is added to output tax