Page 134 - COMBINED QUESTIONS AND ANSWERS - EDITION 2019 - PART II_Neat

(iii) The average amount of duties paid on imported materials or excisable materials
used in the manufacture of semis, components and intermediate products which are
used in the manufacture of goods
(iv) All of the above
A-511: iv - All of the above

Q-512: It is drawback of free trade
(i) Prices of local goods rise
(ii) Government loses income from Custom duties
(iii) National resources are underutilized
(iv) (a) and (b) of above
A-512: ii - Government loses income from Custom duties

Q-513: Which one of the correct on Interest on delayed payment of drawback to the exporter?
(i) 6% per annum issued under Section 27B read with Section 75A of the Customs Act,
1962
(ii) 6% per annum issued under Section 27A read with Section 75A of the Customs Act,
1962
(iii) 6% per annum issued under Section 27A read with Section 75 of the Customs Act,
1962
(iv) None of the above
A-513: ii - 6% per annum issued under Section 27A read with Section 75A of the Customs Act, 1962
Q-514: The interest is applicable if drawback payable to a claimant under Section 74 or Section 75 of
the Customs Act, 1962
(i) Not paid within a period of one month from the date of filing a claim for payment of
drawback

(ii) Not paid within a period of three month from the date of filing a claim for payment
of drawback

(iii) Not paid within a period of six month from the date of filing a claim for payment of
drawback
(iv) None of the above
A-514: i - Not paid within a period of one month from the date of filing a claim for payment of
drawback
Q-515: In which one of the following will be issued in terms of Section 72(2) of the Customs Act,
1962 by the proper officer of the detention of the time-expired goods and requiring the
importer/owner to submit their reply?
(i) First notice
(ii) Second notice

(iii) both i and ii
(iv) None of the above
A-515: ii – Second notice

129