Page 74 - COMBINED QUESTIONS AND ANSWERS - EDITION 2019 - PART II_Neat

CUSTOMS ACT
Q-256: Section 18 of the Customs Act, 1962 allows an importer to provisionally clear the imported
goods from Customs pending final determination of value by giving a guarantee in the form
of
(i) Surety
(ii) Security deposit
(iii) Bank Guarantee
(iv) All of the above
A-256: iv - All of the above
Q-257: The Central Government has been empowered to fix values, under Sub-section (2) of Section
14 of the Customs Act, 1962 for any product which are called
(i) Tariff Values
(ii) Customs Values
(iii) Imported Values

(iv) None of the above
A-257: i - Tariff Values
Q-258: As per the Section 74 of the Customs Act, 1962, the goods are entered for export
(i) Within six months from the date of payment of duty on the import
(ii) Within one years from the date of payment of duty on the import
(iii) Within two years from the date of payment of duty on the import
(iv) Within five years from the date of payment of duty on the import

A-258: iii - Within two years from the date of payment of duty on the import
Q-259: Arrival of vessels and aircrafts in India under
(i) Section 25 of Customs Act, 1962
(ii) Section 26 of Customs Act, 1962

(iii) Section 28 of Customs Act, 1962
(iv) Section 29 of Customs Act, 1962
A-260: iv - Section 29 of Customs Act, 1962
Q-261: The Customs procedure regarding transloading operation and mid-stream operation of
export cargo as specified in
(i) Section 33 and Section 34 of the Customs Act, 1962
(ii) Section 34 and Section 35 of the Customs Act, 1962
(iii) Section 35 and Section 36 of the Customs Act, 1962

(iv) None of the above
A-261: ii - Section 34 and Section 35 of the Customs Act, 1962
Q-262: In terms of Section 143 of Customs Act, 1962, the Shipping Agent/Customs Broker will be
filed a bond known as
(i) Over Loading Guarantee
(ii) Side Loading Guarantee

(iii) Over-side Loading Guarantee

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