Tag: import and export

Quizzes (0) Questions (16)

Questions Related to import and export

Multiple choice business organisation import and export procedure export trade procedures and formalities of exports and imports import and export

The Export Import Bank of India (EXIM Bank) is _____________________.

  1. wholly owned by the Union government

  2. partly owned by the Union government

  3. wholly owned by the World Bank

  4. partly owned by the World Bank
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The Export-Import Bank of India (EXIM Bank) was established by the Government of India and is entirely owned by the Union government.

Multiple choice business organisation import and export procedure export trade procedures and formalities of exports and imports import and export

By EXIM policy we mean ________.

  1. external and internal policy

  2. export-import policy

  3. extra import policy

  4. none of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Indian EXIM policy is the policy designed by the government in order to regulate the import and export trade of the country. Hence, by EXIM policy we mean export-import policy.

Multiple choice business organisation import and export procedure export trade procedures and formalities of exports and imports import and export

Mr X exported goods to Europe but as a dispute between the supplier and buyer the payment was stopped. The possible resolution to get money back is ______?

  1. To get the goods back

  2. To file a suit using the invoice as support document

  3. To forget as nothing can done

  4. None of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

In international trade disputes, the commercial invoice serves as the primary legal document evidencing the contract and the debt, making it the standard support document for legal action.

Multiple choice business organisation import and export procedure export trade procedures and formalities of exports and imports import and export

FIEO stands for.

  1. Foreign Import Export Organisation

  2. Federation of Import Export Organisation

  3. Forum of Indian Export Organisations

  4. Federation of Indian Export Organisations
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

FIEO stands for the Federation of Indian Export Organisations, which is the apex body of export promotion organizations in India.

Multiple choice business organisation import and export procedure export trade procedures and formalities of exports and imports import and export

The government has progressively moved towards a uniform basic excise rate of _______ but exemptions and surcharges still affect the actual rate.

  1. 4%

  2. 16%

  3. 10%

  4. 20%
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Historically, the CENVAT (Central Value Added Tax) rate in India was standardized at 16% for a significant period before subsequent reforms.