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UPSC Economics Business and Foreign Trade / व्यापार और विदेश व्यापार Question Bank Fiscal and Monetary Policy

  • question_answer
          Which of the following is the tax imposed on commodities imported into India (import duty) or those exported from India (export duty)?
    1. Customs duty     
    2. Central excise duty
    3. Incorporate duty

    A) 1 only              

    B)        2 only

    C) 3 only              

    D)        2 and 3

    Correct Answer: A

    Solution :

    Customs duty is the tax imposed on commodities imported into India (import duty) or those exported from India (export duty). Since imposing duties on exports reduced the competitive position of the country, the government withdrew export duties


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