Duty levied on the value of goods imported is referred to as
Ad valorem Duty
Customs duties can be levied on the value, on the quantity, or on both.
An ad valorem duty is levied as a percentage of the value of the imported goods, for example 10% of the assessable value.
A specific duty is a fixed amount per unit of quantity (per kg, per piece). A compound duty combines an ad valorem and a specific element. Import duty is the general term for any customs duty on imports and does not state the basis of levy.
Hence, Ad valorem Duty.
Similar Questions
A practice of selling a commodity in a foreign market at a price lower than the domestic price; and even at equal to the cost of production to capture foreign market is known as :
Which of the following expressions amount to the import restriction measures ?
(i) Currency control
(ii) Establishment of EPZs
(iii) Tariff cuts
(iv) Imposition of tariffs
(v) Imposition of non-tariff barriers
Codes :
In international trade which of the following is a non-tariff trade barrier ?
Important Questions from Government intervention in international trade
Which one of the following non-tariff barriers is to be adequately addressed by India while signing FTA with any country that has potential to import fruits, vegetables and other plant-based products from India?
Quotas which are the quantitative restrictions on exports/imports intended at protecting local industries and conserving foreign exchange, include which of the following?
(A) Single stage quota
(B) Absolute quota
(C) Tariff quotas
(D) Value added quotas
(E) Voluntary quotas
Choose the correct answer from the options given below:
A practice of selling a commodity in a foreign market at a price lower than the domestic price; and even at equal to the cost of production to capture foreign market is known as :
Which of the following expressions amount to the import restriction measures ?
(i) Currency control
(ii) Establishment of EPZs
(iii) Tariff cuts
(iv) Imposition of tariffs
(v) Imposition of non-tariff barriers
Codes :
In international trade which of the following is a non-tariff trade barrier ?
