A
To waive all customs duties permanently for MSME exporters
B
To permit eligible trusted importers to pay customs duty on a periodic basis rather than per shipping bill prior to clearance
C
To allow foreign manufacturers to store goods in India without paying any indirect taxes indefinitely
D
To transfer the tax administration authority from CBIC to the Reserve Bank of India
Correct answer: (b) To permit eligible trusted importers to pay customs duty on a periodic basis rather than per shipping bill prior to clearance
Explanation
Deferred duty payment is a trade facilitation mechanism permitting eligible trusted importers to pay customs duty periodically rather than per shipping bill prior to clearance. Thus, option B is correct and others are factually incorrect.
Same topic · past papers
UPSC has asked this before
These previous-year questions sit on the same topic. Open one to practise the earlier ask.
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2022 · Q74 · UPPGS
Consider the following statements about farm subsidies in India. 1. The input subsidies in India, such as on fertilizers fall under indirect farm subsidies. 2. Reduction in Power and irrigation bills offered to farmers fall under direct farm subsidies. 3. The agricultural provisions of the World Trade Organization (WTO) though allow direct farm subsidies, prohibit indirect subsidies. 4. All subsidies provided by the governments in India fall under the indirect subsidies. Select the correct answer from the code given below: -
2025 · Q1 · UPPGS
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2025 · Q20 · UPPGS
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2024 · Q6 · UPPGS
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2024 · Q17 · UPPGS
With reference to the Age of Consent Act, 1891 consider the following statements: 1. It was Behramji Malabari, a Parsi reformer from Bombay, who advocated for this legislation. 2. The Act was supported by the extremist wing led by Bal Gangadhar Tilak. Which of the above statements is/are correct? Select the correct answer from the code given below: