Central Excise Day 2024: MCQ Quiz, History, Theme, Significance

Test your knowledge of Central Excise Day! Take our MCQ quiz covering history, significance, and the 2024 theme "CBIC: A Catalyst for Economic Growth and Development

History

1. Central Excise Day is celebrated annually in India on which date?

   • A. February 1st

   • B. February 24th

   • C. March 15th

   • D. March 31st

     Answer: B

2. The Central Excise Act was originally passed in which year?

   • A. 1920

   • B. 1934

   • C. 1944

   • D. 1957

     Answer: C

3. What is the current official name of the government body responsible for administering Central Excise in India?

   • A. Central Board of Indirect Taxes and Customs (CBIC)

   • B. Indian Revenue Service (IRS)

   • C. Department of Excise and Taxation

   • D. Ministry of Excise

     Answer: A

Theme (Note: Themes can change yearly)

4. A possible theme for Central Excise Day 2024 could be:

   • A. A Catalyst for Economic Growth and Development

   • B. Building a Stronger Nation: The Role of Excise

   • C. Technology and the Future of Excise Administration

   • D. All of the above

     Answer: A

Significance

5. Which of these is NOT a primary reason Central Excise Day is important?

   • A. Honors the work of the CBIC and its officers

   • B. Provides economic stability for the government

   • C. Raises awareness of excise taxes

   • D. Promotes international trade partnerships

     Answer: D

6. Central Excise taxes are a major source of revenue for the Indian government. These funds are used to support:

   • A. Infrastructure development

   • B. Social welfare programs

   • C. National defense

   • D. All of the above

     Answer: D

7. The role of CBIC officers includes:

   • A. Prevention of smuggling

   • B. Fair collection of taxes

   • C. Facilitating legitimate trade

   • D. All of the above

     Answer: D

8. The Central Board of Excise and Customs (CBEC) was renamed to its current name in the year:

   • A. 2016

   • B. 2018

   • C. 2020

   • D. 2022

     Answer: B

9. Central Excise taxes are a type of:

   • A. Direct Tax

   • B. Indirect Tax

   • C. Wealth Tax

   • D. Property Tax

     Answer: B

10. Which of the following products is typically subject to Central Excise duty?

    • A. Fruits and vegetables

    • B. Textiles

    • C. Petroleum products

    • D. Income from salary

      Answer: C

11. Central Excise Day recognizes the contribution of CBIC officers towards:

    • A. National economic development

    • B. Protection of borders

    • C. Enforcement of tax laws

    • D. All of the above

      Answer: D

12. Celebrating Central Excise Day helps promote:

• A. Transparency in taxation

• B. Public awareness of excise

• C. Appreciation for CBIC officers

• D. All of the above

  Answer: D

13. Central Excise regulations impact Indian businesses by:

    • A. Influencing production costs

    • B. Affecting product pricing

    • C. Requiring compliance procedures

    • D. All of the above

      Answer: D

14. Historically, excise taxes have been levied on goods considered:

    • A. Luxuries

    • B. Necessities

    • C. Imports

    • D. Agricultural products

      Answer: A

15. One goal of proper excise administration is to:

    • A. Discourage certain types of manufacturing

    • B. Maintain a level playing field for businesses

    • C. Control consumer demand

    • D. Increase reliance on direct taxation

      Answer: B