Question

    According to the RBI's circular on the import of gold

    by Tariff Rate Quota (TRQ) holders, how does the bilateral agreement under the India-UAE Comprehensive Economic Partnership Agreement (CEPA) affect gold imports concerning duty-free limits?
    A TRQ holders are allowed unlimited imports under the duty-free scheme. Correct Answer Incorrect Answer
    B TRQ holders can import only up to 50 kg of gold annually under duty-free conditions. Correct Answer Incorrect Answer
    C The bilateral agreement imposes a cap on the maximum value of gold that can be imported under preferential tariffs. Correct Answer Incorrect Answer
    D TRQ holders must comply with both Indian and UAE customs regulations for gold imports. Correct Answer Incorrect Answer
    E TRQ holders may import gold duty-free within the TRQ limits but must adhere to monthly import quotas. Correct Answer Incorrect Answer

    Solution

    The "Guidelines on Import of Gold by TRQ Holders" state that under the India-UAE CEPA, the agreement sets a cap on the amount of gold that can be imported under preferential tariffs, governed by TRQ limits.

    Practice Next
    More Financial Management Questions
    ask-question