Government increased import duty on 328 textile items from the existing rate of 10 per cent to

2018

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	30 per cent
B	25 per cent
C	15 per cent
D	20 per cent

Explanation:

Detailed explanation-1: -To boost domestic manufacturing, the government doubled import customs duty on 328 tariff lines of textile products from the existing rate of 10 per cent to 20 per cent under Section 159 of the Customs Act, 1962.

Detailed explanation-2: -Currently, cotton import attracts 5 per cent basic customs duty and 5 per cent agri infra development cess.

Detailed explanation-3: -To calculate the estimated duty fee for a shipment where the fee is determined by percentage value, simply multiply the total value of the goods by the percentage that applies to their HTS code, and then divide this figure by 100.

There is 1 question to complete.