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      Question

      Under the special arrangement for automobiles, what is

      the reduced import duty rate for European cars priced above ₹25 lakh, subject to quota?
      A 15% Correct Answer Incorrect Answer
      B 12% Correct Answer Incorrect Answer
      C 10% Correct Answer Incorrect Answer
      D 25% Correct Answer Incorrect Answer
      E 30% Correct Answer Incorrect Answer

      Solution

      The agreement introduces a quota-based system under which European cars priced above ₹25 lakh will see import duties reduced from 110% to as low as 10% , subject to quota limits.

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