Multiple choice

Directions: Choose the correct option for the given question:

Consider the following statements in respect of the “Duty Free Import Authorization Scheme”.

  1. The scheme offers the facility to import the required inputs before exports.
  2. The scheme allows the transfer of scrip once the export obligation is complete. Which of the statement(s) given above is/are correct?

  1. (1) only

  2. (2) only

  3. Both (1) and (2)

  4. Neither (1) nor (2)
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The Duty Free Import Authorization Scheme allows exporters to import required inputs before making exports (pre-export import). The scrip can be transferred only after the export obligation is fulfilled. Both statements are correct features of this trade facilitation scheme.

Keep practicing — related questions