Page 194 - COMBINED QUESTIONS AND ANSWERS - EDITION 2019 - PART II_Neat

Q-760: Meaning of third party exports
A-760: Exports made by an exporter or manufacturer on behalf of another exporter(s). In
such cases, export documents such as Shipping Bills shall indicate names of both
manufacturer exporter/manufacturer and third party exporter(s). Bank Realisation
Certificate (BRC), Self Declaration Form (SDF), export order and invoice should be in the
name of third party exporter.
Q-761: The meaning of Cover Note on export cargo
(i) An evidence of insurance but does not set out the terms and conditions of insurance
(ii) An evidence of insurance and set out the terms and conditions of insurance
(iii) Not considered to be evidence of contract of insurance
(iv) Indicates insurance has been made pending issuance of policy or certificate.
A-761: i - An evidence of insurance but does not set out the terms and conditions of insurance
Q-762: The meaning of canalized goods is
(i) Goods can be imported only after obtaining an import license from the relevant
regional licensing authority
(ii) Goods can be exported freely if they are not mentioned in the classification of ITC
(HS)
(iii) Goods which may only be imported using specific procedures or methods of
transport
(iv) The goods listed in ITC (HS) which are strictly prohibited on all import channels
A-762: iii - Goods which may only be imported using specific procedures or methods of transport

MIS-DECLARATION
Q-763: What is the penalty in Indian Pre-shipment Inspection Agency in case of any mis-
declaration?
(i) 5 lakh

(ii) 10 lakh
(iii) 15 lakh
(iv) 20 lakh
A-763: ii - 10 lakh

NATIONAL CALAMITY CONTINGENT DUTY (NCCD)
Q-764: A National Calamity Contingent Duty (NCCD) of Customs has been imposed vide
(i) Section 129 of Finance Act, 2001
(ii) Section 130 of Finance Act, 2001
(iii) Section 131 of Finance Act, 2001

(iv) None of the above
A-764: i - Section 129 of Finance Act, 2001

NOTIFICATIONS, EXEMPTION NOTIFICATIONS AND OTHER NOTIFICATIONS
Q-765: If the goods are exported under Job Work scheme then Notification Number is mandatory
while filling the job.

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