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      Question

      Consider the following statements with reference to

      indirect taxes in Budget 2020. 1. Custom duty was raised on footwear from  25% to 35% and on furniture goods from 20% to 25%. 2. Basic customs duty on imports of newsprint and light  - weighted coated paper was reduced  from 10% to 5%. Which of the statements given above is/are correct?
      A Neither 1 nor 2 Correct Answer Incorrect Answer
      B Only 2 Correct Answer Incorrect Answer
      C Only 1 Correct Answer Incorrect Answer
      D Both 1 and 2 Correct Answer Incorrect Answer

      Solution

      The correct answer is D

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