Start learning →

CA Final Customs Act 1962: Levy and Exemption — practice questions — page 3

Explore 74 free Customs Act 1962: Levy and Exemption questions in CA Final Indirecttaxlaws. Open each question or exercise to read its content, reference answers and available explanation.

Practise Customs Act 1962: Levy and Exemption with Quill →

Customs Act 1962: Levy and Exemption questions and exercises with answers

Showing questions 61–74 of 74.

An owner relinquishes title to imported goods before the clearance order. He is then:Read the answer and worked solution →Title cannot be relinquished under Section 23 if:Read the answer and worked solution →Denatured imported goods are chargeable at the rate for:Read the answer and worked solution →Who may exempt goods from customs duty by notification under Section 25(1)?Read the answer and worked solution →A Section 25(1) exemption needs satisfaction that it is:Read the answer and worked solution →A special order of exemption under Section 25(2) is made in:Read the answer and worked solution →An explanation clarifying a Section 25 notification can be inserted within:Read the answer and worked solution →A Section 25 exemption in a different form can never make duty:Read the answer and worked solution →Under Section 25(6), no duty is collected if the duty leviable is up to:Read the answer and worked solution →Export duty is refundable under Section 26 if the goods are re-imported within:Read the answer and worked solution →A tariff or import tax is paid by whom?Read the answer and worked solution →An ad valorem tax is based on the:Read the answer and worked solution →Countervailing duties are also known as:Read the answer and worked solution →Countervailing duties follow a finding that foreign subsidies have:Read the answer and worked solution →

Worked practice questions

An owner relinquishes title to imported goods before the clearance order. He is then:

  1. Liable for full duty
  2. Not liable for the duty
  3. Liable for half duty
  4. Liable for a penalty
Show answer and solution

Correct answer: B. Not liable for the duty

Section 23(2) frees an owner who relinquishes title before the clearance order from paying duty.

Open this question →

Title cannot be relinquished under Section 23 if:

  1. Goods are perishable
  2. An offence appears committed
  3. Goods are in a warehouse
  4. Duty is below Rs 100
Show answer and solution

Correct answer: B. An offence appears committed

The proviso to section 23(2) bars relinquishment for goods regarding which an offence appears to have been committed.

Open this question →

Denatured imported goods are chargeable at the rate for:

  1. Goods before denaturing
  2. The denatured form
  3. A rate set by importer
  4. The highest rate in force
Show answer and solution

Correct answer: B. The denatured form

Section 24 charges denatured goods as if they had been imported in the denatured or mutilated form.

Open this question →

How to practise

  1. Choose a Customs Act 1962: Levy and Exemption question and try to work out your answer.
  2. Open the question to check the correct answer and read its worked solution.
  3. Continue in the app for bite-sized lessons, explanations and review with Quill. You can start without creating an account.

More Indirecttaxlaws topics

Demands and Recovery, Offences and PenaltiesPlace of SupplyInput Tax CreditLevy and Collection of TaxAssessment, Audit, Inspection, Search, Seizure and ArrestAppeals, Revision and Advance Ruling under GSTCustoms 2 Foreign Trade PolicyCustoms Act, 1962