Page 240 - COMBINED QUESTIONS AND ANSWERS - EDITION 2019 - PART II_Neat

Q-935: What is the Exclusion List? How is it different from the Negative List?
A-935: Exclusion List or Negative List is a list of all items on which no tariff concessions/ any
other form of barrier reduction have been offered by individual Parties. The India-ASEAN
Trade in goods agreement uses the term Exclusion List which in common parlance is referred
to as Negative List.
Q-936: What is PFMS in Customs?
A-936: Public Financial Management Systems (formerly central plan scheme monitoring
system), which is used by government agencies to make payments directly into the
recipients Bank account.
Q-937: Which manufacturing Unit is eligible for exemption from payment of Income Tax under the
Income Tax Act, 1961 on export income earned?
(i) EOU Unit
(ii) SEZ Unit
(iii) STP Unit
(iv) None of the above
A-937: ii - SEZ Unit
Q-938: Name the country of consignment on port of loading is mentioned in the Airway Bill and
Packing List is Shanghai and the invoice address will be Singapore.
(i) Shanghai
(ii) Singapore
(iii) Both i and ii
(iv) None of the above
A-938: Singapore

Q-939: Customs Compliance Verification (CCV) which would operate after
(i) An importer registers the imported goods after payment of duty.
(ii) An importer registers the imported goods even while duty has not been paid or its
payment is in process.
Which one of the above statement is correct?
(i) a only
(ii) b only
(iii) both a and b
(iv) None of the above
A-939: ii - b only
Q-940: Undertaking to be produced on part delivery of DPD consignment by
(i) Importer
(ii) Manufacturer importer
(iii) Both i and ii
(iv) None of the above

A-940: ii - Manufacturer importer
Q-941: The different types of Mode of Transport on imported goods
A-941: (i) Sea
(ii) Air

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