Import of free gifts and relief supplies by certain organizations/institutions e.g. Indian Red Cross Society, National Defense Fund is allowed

Related MCQs

• Export Promotion Capital Goods Scheme allows import of capital goods Free of import duty
• Automobile industry, having their own R&D establishment, is allowed free import of reference fuels (petrol and diesel), upto a maximum of -------------per annum, which are not manufactured in India.
• Which enables an exporter to import capital goods, like plant and machinery at concessional import duty?
• Which of the following enables an exporter to import inputs without paying import duties?
• Bona fide technical and trade samples of items, even those in the restricted in ITC(HS)Classifications of Export and Import items is allowed without a license for a value not more than Rs. 1 lakh(CIF)
• The Negotiable Instruments Act defines a ---------as “an instrument in writing containing an unconditional order, signed by the maker directing a certain person to pay a certain sum of money only to, or to the order of, a certain person or to the bearer of instrument.”
• Import of Capital Goods is allowed for
• Import of -----------------is allowed without payment of Customs duty under the Baggage Rules, 1994.
• Permission for duty free import of samples by exporters is-
• In case of Free of cost imported raw material, value addition would be computed by adding Notional Value of free of cost material to both CIF value of imports and FOB value of exports.