1. _______ is the standard tax rate applied to goods, or the standard preferential rate in the case of goods imported from specified countries. (a) Bill of Entry for Ex-Bond Clearance (b) Basic...

1. _______ is the standard tax rate applied to goods, or the standard preferential rate in the case of goods imported from specified countries. (a) Bill of Entry for Ex-Bond Clearance (b) Basic Customs Duty (BCD) (c) Bill of Entry for Home Consumption (d) None of these

2. If the Central Government determines that a good is being imported at below fair market price then the government may impose _______ on such goods. (a) antidumping duty (b) safeguard duty (c) protective duty (d) basic custom duty

3. Discuss the various steps involved in import procedures in India.

4. Write short notes on following: (a) Bill of entry (b) Commercial invoice (c) Import licence

5. Define the following in detail: (a) Basic Customs Duty (BCD) (b) Additional Customs Duty (Countervailing Duty CVD) (c) Protective duty (d) Education cess

6. _______ category of Incoterms applies to any mode of transport. (a) Group 1 (b) Group 2 (c) Both (a) and (b) (d) Neither (a) nor (b)

7. Under _______ the buyer has to bear all costs and risks involved in taking the goods from the seller’s premises. (a) Carriage and Insurance Paid (CIP) (b) Ex Works (EXW) (c) Free Carrier (FCA) (d) Carriage Paid To (CPT)