The 'Special Economic Zone' (SEZ) supplies are treated as: MCQ with Answer and Explanation

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The 'Special Economic Zone' (SEZ) supplies are treated as:

A. Inter-state supply

B. Exempt supply

C. Zero-rated supply

D. Intra-state supply

Answer: Option C

Solution (By JKExamLibrary)

Supply to SEZ is zero-rated, allowing input tax credit refund.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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Practice More Accountancy and Book Keeping Questions

Question #1 Report Error

In the context of the Trial Balance, which of the following is correct?

A. It is an account in the ledger.

B. It is prepared at the beginning of the year.

C. It proves that no errors have been made.

D. It provides a summary of all ledger balances.

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Correct Answer: Option D

Explanation:
A Trial Balance is a statement (not an account) that summarizes all ledger balances to check arithmetical accuracy.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #2 Report Error

The 'Taxpayer's Charter' under Income Tax assures:

A. No scrutiny

B. No penalty

C. Tax exemption to all

D. Fair, courteous, and reasonable treatment

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Correct Answer: Option D

Explanation:
The charter enumerates rights of taxpayers and obligations of the tax department.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #3 Report Error

Which body regulates the Capital Market in India?

A. NABARD

B. SIDBI

C. RBI

D. SEBI

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Correct Answer: Option D

Explanation:
The Securities and Exchange Board of India (SEBI) is the statutory body regulating the securities and capital markets.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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