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Value Added Tax Interview Questions

Below we have listed all the Value Added Tax Interview Questions and answers. Feel free to comment on any Value Added Tax Interview Questions or answer by the comment feature available on the page.

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The Sales Tax is the most important source of revenue of the state governments; every state has their respective Sales Tax Act. The tax rates are also different for respective states. Tax imposed by Central government on sale of goods is called as Sales tax same is called as Value added tax by state government.VAT is additional to the price of goods and passed on to us as buyer (end user). Around 220+ Items are covered with VAT.VAT rates vary based on nature of item and state. Government is planning to merge service tax and sales tax in form of Goods service tax (GST).

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Question
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What is Taxpayer Identification Number (TIN) in Value Added Tax (VAT)?
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How will the refund be issued to the exporters (dealers who effect zero rate sale)?
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Whether deferral and waiver will continue?
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What are the taxes that will be replaced by Value Added Tax (VAT)?
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What is the Registration fee for Value Added Tax (VAT) Registration?
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Is there any time-limit to claim the Value Added Tax (VAT) Input Tax Credit?
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Will there be Input Tax credit for all Capital Goods?
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Who are Dealers under Value Added Tax (VAT)?
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Will there be any Random Check of Accounts in case of Value Added Tax (VAT)?
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What is Reversal of Input Tax Credit in Value Added Tax (VAT)?
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What is Tax invoice in Value Added Tax (VAT)?
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What is Value Added Tax (VAT)Input Tax?
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What are rates of tax under Value Added Tax (VAT)?
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Whether dealer registered under Tamil Nadu General Sales Tax Act, 1959 has to apply for Tax Identification Number (TIN)?
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What are the distinct features under the VAT Act?
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What is the procedure to be adopted to claim input tax credit for the goods held in closing stock?
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How to apply for Registration of Value Added Tax (VAT)?
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What is the Remedy when the Assessing Authority makes provisional order disallowing the Input Tax Credit, on scrutiny of monthly return(s?
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How is the Value Added Tax (VAT) Certificate of Registration issued in Tamilnadu?
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Can a dealer claim Value Added Tax (VAT) Input Tax Credit for goods sold in Inter-State trade?
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India News Network
Latest 20 Questions
Payment of time- barred debt is: (a) Valid (b) Void (c) Illegal (d) Voidable
Consideration is defined in the Indian Contract Act,1872 in: (a) Section 2(f) (b) Section 2(e) (c) Section 2(g) (d) Section 2(d)
Which of the following is not an exception to the rule, "No consideration, No contract": (a) Natural love and affection (b) Compensation for involuntary services (c) Completed gift (d) Agency
Consideration must move at the desire of: (a) The promisor (b) The promisee (c) The promisor or any other party (d) Both the promisor and the promisee
An offer which is open for acceptance over a period of time is: (a) Cross Offer (b) Counter Offer (c) Standing Offer (d) Implied Offer
Specific offer can be communicated to__________ (a) All the parties of contract (b) General public in universe (c) Specific person (d) None of the above
_________ amounts to rejection of the original offer. (a) Cross offer (b) Special offer (c) Standing offer (d) Counter offer
A advertises to sell his old car by advertising in a newspaper. This offer is caleed: (a) General Offer (b) Special Offer (c) Continuing Offer (d) None of the above
In case a counter offer is made, the original offer stands: (a) Rejected (b) Accepted automatically (c) Accepted subject to certain modifications and variations (d) None of the above
In case of unenforceable contract having some technical defect, parties (a) Can sue upon it (b) Cannot sue upon it (c) Should consider it to be illegal (d) None of the above
If entire specified goods is perished before entering into contract of sale, the contract is (a) Valid (b) Void (c) Voidable (d) Cancelled
______________ contracts are also caled contracts with executed consideration. (a) Unilateral (b) Completed (c) Bilateral (d) Executory
A offers B to supply books @ Rs 100 each but B accepts the same with condition of 10% discount. This is a case of (a) Counter Offer (b) Cross Offer (c) Specific Offer (d) General Offer
_____________ is a game of chance. (a) Conditional Contract (b) Contingent Contract (c) Wagering Contract (d) Quasi Contract
There is no binding contract in case of _______ as one's offer cannot be constructed as acceptance (a) Cross Offer (b) Standing Offer (c) Counter Offer (d) Special Offer
An offer is made with an intention to have negotiation from other party. This type of offer is: (a) Invitation to offer (b) Valid offer (c) Voidable (d) None of the above
When an offer is made to the world at large, it is ____________ offer. (a) Counter (b) Special (c) General (d) None of the above
Implied contract even if not in writing or express words is perfectly _______________ if all the conditions are satisfied:- (a) Void (b) Voidable (c) Valid (d) Illegal
A specific offer can be accepted by ___________. (a) Any person (b) Any friend to offeror (c) The person to whom it is made (d) Any friend of offeree
An agreement toput a fire on a person's car is a ______: (a) Legal (b) Voidable (c) Valid (d) Illegal
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