Fi - Taxation (Post Session)

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| By Rajeshmishra
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Rajeshmishra
Community Contributor
Quizzes Created: 7 | Total Attempts: 1,192
Questions: 30 | Attempts: 167

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Tax Quizzes & Trivia

Questions and Answers
  • 1. 

    How many Chapter wise RG1 registers are required for T A/C & C A/C in SAP ?

    • A.

      1

    • B.

      2

    • C.

      3

    • D.

      4

    • E.

      None of the above

    Correct Answer
    B. 2
    Explanation
    The question is asking how many Chapter wise RG1 registers are required for T A/C (Trading Account) and C A/C (Capital Account) in SAP. The correct answer is 2 because both T A/C and C A/C require separate RG1 registers to maintain their respective records.

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  • 2. 

    In which Register the Raw material cenvat to be updated in SAP?

    • A.

      RG23 AP II

    • B.

      RG23 C PII

    • C.

      Service Tax

    • D.

      All of the above

    • E.

      None of the above

    Correct Answer
    A. RG23 AP II
    Explanation
    The correct answer is RG23 AP II. In SAP, the raw material cenvat is updated in the RG23 AP II register.

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  • 3. 

    Part1 Register are updated at the timeof ------

    • A.

      Goods receipt

    • B.

      Invoice posting

    • C.

      Excise invoice posting

    • D.

      Both A& C

    • E.

      None of the above

    Correct Answer
    A. Goods receipt
    Explanation
    The correct answer is Goods receipt. This means that the registers are updated at the time of receiving goods. This could include updating inventory records, updating accounts payable, and updating any other relevant registers or systems to reflect the receipt of goods into the organization.

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  • 4. 

    Prt II Registers are updated at the time of -------

    • A.

      Goods receipt

    • B.

      Invoice posting

    • C.

      Excise invoice posting

    • D.

      Both A& C

    • E.

      None of the above

    Correct Answer
    C. Excise invoice posting
    Explanation
    Part II Registers are updated at the time of Excise invoice posting. This means that when an excise invoice is posted, the Part II Registers are updated to reflect the transaction. This is important for tracking and recording excise duty payments and ensuring compliance with excise regulations. The other options, such as goods receipt and invoice posting, may also involve updating registers or records, but specifically for Part II Registers, the update occurs during excise invoice posting.

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  • 5. 

    In present practice we use 22 RG1 Register product wise,but how many registers to be updated Chapter wise in SAP?

    • A.

      15

    • B.

      11

    • C.

      10

    • D.

      9

    • E.

      None of the above

    Correct Answer
    B. 11
    Explanation
    The correct answer is 11. In the present practice, 22 RG1 registers are used product-wise. However, in SAP, the number of registers to be updated chapter-wise is 11. This means that the system requires updating 11 registers based on the different chapters in SAP.

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  • 6. 

    What is the plant code in SAP

    • A.

      1000

    • B.

      2000

    • C.

      3000

    • D.

      4000

    • E.

      None of the above

    Correct Answer
    A. 1000
    Explanation
    The plant code in SAP is represented by the number 1000. This code is used to identify and differentiate different plants or locations within the SAP system. It is a unique identifier that helps in managing and organizing various aspects of the business, such as inventory, production, and procurement, within different plants or locations.

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  • 7. 

    Which document is the proof of that goods are going for Export ?

    • A.

      ARE-3

    • B.

      ARE-1

    • C.

      ARE-2

    • D.

      ARE-4

    • E.

      None of the above

    Correct Answer
    B. ARE-1
    Explanation
    The document that serves as proof that goods are going for export is the ARE-1.

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  • 8. 

    What is the transaction code to create Excise Bond ?

    • A.

      J1IA10

    • B.

      J1IA301

    • C.

      J1IBN01

    • D.

      J1I7

    • E.

      None of the above

    Correct Answer
    C. J1IBN01
    Explanation
    The transaction code J1IBN01 is used to create an Excise Bond.

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  • 9. 

    In which code the PLA will be updated against GAR-7 Challan in SAP.

    • A.

      J1IH

    • B.

      J1ID

    • C.

      J1I7

    • D.

      J1IA301

    • E.

      None of the above

    Correct Answer
    A. J1IH
    Explanation
    The code "J1IH" is the correct answer because it is the code in SAP where the PLA (Personal Ledger Account) will be updated against the GAR-7 Challan. The other codes mentioned (J1ID, J1I7, J1IA301) are not relevant for updating the PLA against the GAR-7 Challan in SAP.

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  • 10. 

    What is the transaction code to create ARE-1 in SAP.

    • A.

      J1IA101

    • B.

      J1IA301

    • C.

      J1IBN01

    • D.

      J1IA301

    • E.

      None of the above

    Correct Answer
    A. J1IA101
    Explanation
    The transaction code J1IA101 is used to create ARE-1 in SAP.

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  • 11. 

    Which Icon will be selected to make excise invoice eligible under Bond.

    • A.

      Deemed

    • B.

      Bond

    • C.

      NonBond

    • D.

      All of the above

    • E.

      None of the above

    Correct Answer
    B. Bond
    Explanation
    The correct answer is "Bond" because to make an excise invoice eligible under Bond, the icon that needs to be selected is "Bond". This indicates that the invoice is related to a bonded warehouse or a bonded manufacturing unit. The other options, "Deemed", "NonBond", "All of the above", and "None of the above" do not specifically pertain to making an excise invoice eligible under Bond.

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  • 12. 

    In which code the additional credit or debit to be used in SAP.

    • A.

      J1ID

    • B.

      J1IH

    • C.

      J1ILN

    • D.

      J1I7

    • E.

      None of the above

    Correct Answer
    B. J1IH
    Explanation
    The code "J1IH" is used for additional credit or debit in SAP.

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  • 13. 

    What is the cndition type for VAT

    • A.

      JVRD

    • B.

      JVPD

    • C.

      JVSD

    • D.

      JQRD

    • E.

      None of the above

    Correct Answer
    A. JVRD
    Explanation
    The condition type for VAT is JVRD.

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  • 14. 

    What is the CST Condition for CST?

    • A.

      JIPC

    • B.

      JMPC

    • C.

      JVRD

    • D.

      JQRD

    • E.

      None of the above

    Correct Answer
    A. JIPC
    Explanation
    The correct answer is JIPC. This answer is derived from the given options, where JIPC is the only option that matches the pattern of the question. The question asks for the CST condition for CST, and JIPC is the only option that contains the letters "CST" in the same order. Therefore, JIPC is the correct answer.

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  • 15. 

    Exception report to be seen in SAP through ----------T Code

    • A.

      J1I7

    • B.

      JEIN

    • C.

      J1IEX

    • D.

      JIED

    • E.

      J1ID

    Correct Answer
    A. J1I7
    Explanation
    The correct answer is J1I7. This T Code in SAP is used to view exception reports. It is specifically designed for exception handling and provides detailed information about any exceptions that may have occurred in the system. By using J1I7, users can easily identify and resolve any issues or errors that may have occurred during the SAP processes.

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  • 16. 

    What is the T Code for posting the excsie Invoice ------.

    • A.

      J1IEX

    • B.

      JIED

    • C.

      J1I7

    • D.

      J1ID

    • E.

      J1IH

    Correct Answer
    A. J1IEX
    Explanation
    The correct answer is J1IEX. This is the T Code used for posting the excise invoice in SAP. The other options (JIED, J1I7, J1ID, J1IH) are not the correct T Codes for this specific task.

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  • 17. 

    What is the T Code for printing Cenavt Register of Part I Part & Part II------------

    • A.

      J2I5 & J2I6

    • B.

      J1IH & J1ID

    • C.

      J2I6 & J2I5

    • D.

      J2I5 & J2I7

    • E.

      J1IEX & J1I7

    Correct Answer
    A. J2I5 & J2I6
    Explanation
    The T Code for printing Cenavt Register of Part I Part & Part II is J2I5 & J2I6.

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  • 18. 

    What is the T code used for transfer of CENVAT Hold a/c to subsequent year------

    • A.

      J1IEX

    • B.

      J1IE

    • C.

      J1ID

    • D.

      J1IH

    • E.

      J2I8

    Correct Answer
    E. J2I8
  • 19. 

    What is the T code of monthly utiliztion------

    • A.

      J2IUN

    • B.

      J1IH

    • C.

      J1IEX

    • D.

      J1ID

    • E.

      J2I5

    Correct Answer
    A. J2IUN
  • 20. 

    What is the Excise Group In SAP ?

    • A.

      10

    • B.

      20

    • C.

      30

    • D.

      40

    • E.

      None of the above

    Correct Answer
    A. 10
  • 21. 

    What is the Condition type for Service TAX

    • A.

      JSVD

    • B.

      JQRD

    • C.

      JMOP

    • D.

      JPMC

    • E.

      None of the above

    Correct Answer
    A. JSVD
  • 22. 

    TDS Percentage is maintained in-------

    • A.

      Withholding Tax Type

    • B.

      Withholding Tax code

    • C.

      Account ID

    • D.

      All of the above

    • E.

      None of above

    Correct Answer
    B. Withholding Tax code
    Explanation
    The correct answer is "Withholding Tax code." The TDS (Tax Deducted at Source) percentage is maintained in the withholding tax code. This code is used to determine the rate at which tax is deducted from payments made to vendors or suppliers. The withholding tax type and account ID are not directly related to maintaining the TDS percentage.

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  • 23. 

    Excise Master Data maintained in ---

    • A.

      J1ID

    • B.

      J1IF

    • C.

      J1IU

    • D.

      JIND

    • E.

      J1FC

    Correct Answer
    A. J1ID
    Explanation
    The correct answer is J1ID because J1ID is a transaction code in SAP that is used to maintain excise master data. It is specifically used for maintaining excise registrations, which include details such as registration number, validity period, and other relevant information. J1IF, J1IU, JIND, and J1FC are not transaction codes related to maintaining excise master data.

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  • 24. 

    The ------ are usedto store the percentage of excise duty,Cess,S & H Ed Cess Vat & Service Tx

    • A.

      Condition Type

    • B.

      Tax code

    • C.

      Material code

    • D.

      All of the above

    • E.

      None of the above

    Correct Answer
    A. Condition Type
    Explanation
    The condition type is used to store the percentage of excise duty, Cess, S & H Ed Cess, VAT, and Service Tax. It is a specific code or identifier that is used in pricing procedures to determine the calculation and application of taxes and duties on a particular material or transaction. The condition type helps in accurately calculating and storing the tax percentages for different components, ensuring proper taxation and compliance.

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  • 25. 

    Is  Tax rate required to be changed  in SAP after changes in Budget ?

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    In SAP, the tax rate may need to be changed after changes in the budget. This is because changes in the budget can affect various financial aspects, including tax calculations and rates. Therefore, it is necessary to update the tax rate in SAP to ensure accurate and up-to-date financial calculations and reporting.

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  • 26. 

    Is PLA Register  is equired in SAP ?

    • A.

      Yes

    • B.

      No

    Correct Answer
    A. Yes
    Explanation
    The explanation for the given correct answer is not available.

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  • 27. 

    If any Cenvat is not sufficient to uitlization of  excise Duty, Can we utilise through PLA Balance ?

    • A.

      Yes

    • B.

      No

    Correct Answer
    A. Yes
    Explanation
    Cenvat refers to the Central Value Added Tax, which is a credit scheme that allows manufacturers and service providers to claim credit for the tax paid on inputs used in the production of goods or services. If the amount of Cenvat available is not sufficient to cover the excise duty, the manufacturer can utilize the balance through the PLA (Personal Ledger Account) balance. PLA is a separate account where manufacturers deposit money to pay for excise duty liabilities. Therefore, it is possible to utilize the PLA balance to cover any shortfall in the Cenvat for the payment of excise duty.

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  • 28. 

    Cross utilzation between Service Tax and Cenvat is possible

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    Cross utilization between Service Tax and Cenvat is possible because Cenvat credit can be used to pay for Service Tax liabilities and vice versa. This allows businesses to offset their tax liabilities and reduce the overall tax burden. This cross utilization is allowed under the Goods and Services Tax (GST) regime in India.

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  • 29. 

    Display last utilization Date is possible in SAP

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    In SAP, it is possible to display the last utilization date. This feature allows users to track and monitor when a particular resource or object was last used. By having access to this information, users can make informed decisions regarding resource allocation, maintenance schedules, and overall efficiency. This feature is particularly useful for organizations that need to keep track of the usage and availability of their resources in order to optimize their operations.

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  • 30. 

    Can we create the ARE-1 without Bond except Rebate Route  in SAP ?

    • A.

      True

    • B.

      False

    Correct Answer
    B. False
    Explanation
    The correct answer is False. In SAP, it is not possible to create the ARE-1 (Application for Removal of Excisable Goods) without a Bond. The Bond is a legal document that ensures compliance with excise regulations and guarantees payment of duty. It is a mandatory requirement for creating the ARE-1 document in SAP. Without the Bond, the system will not allow the creation of the ARE-1.

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