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      Question

      Consider the following statements with reference to

      ‘Export Promotion Capital Goods Scheme’ (EPCG): 1.    Manufacturers can import capital goods for pre-production, production and post-production goods without attracting any customs duty. 2.    Capital goods are physical assets that a company uses in the production process to manufacture products and services. 3.    It is a trade promotion scheme implemented by the Indian government that allows duty-free import of capital goods for the purpose of export production in India.   Which of the statements given above is/are not correct?
      A 1 only Correct Answer Incorrect Answer
      B 2 only Correct Answer Incorrect Answer
      C 1 & 3 Correct Answer Incorrect Answer
      D All Correct Answer Incorrect Answer
      E None Correct Answer Incorrect Answer

      Solution

      All statements are correct. Manufacturers can import capital goods for pre-production, production and post-production goods without attracting any customs duty. Capital goods are physical assets that a company uses in the production process to manufacture products and services. It is a trade promotion scheme implemented by the Indian government that allows duty-free import of capital goods for the purpose of export production in India.

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