What does ITC-HS refer to in the context of Indian import-export operations?
FOREX 4

Quiz
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Business
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Professional Development
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Easy

RAJ PRAKASH SINGH
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9 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Indian Trade Clarification based on Harmonised System
International Trade Code for Harmonised System
Indian Trade Classification for Harmonised System
Import-Export Taxation Code for Harmonised System
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of ITC(HS) Import Schedule 1?
To facilitate data processing for import payments
To cover guidelines and rules about importing goods
To help in paying correct export taxes
To cover the guidelines when exporting
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main function of the EDPMS system launched by RBI?
To manage foreign exchange reserves
To regulate trade reporting and compliance
To facilitate data processing for import payments
To effectively monitor and follow up on export transactions
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the maximum period allowed for completing all Merchanting Trade Transactions?
3 months
9 months
12 months
6 months
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does HSS stand for in the context of foreign trade?
High Standard Service
High Speed Shipping
Heavy Sea sale
High Sea Sale
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the definition of 'Deemed Exports' in the context of foreign trade?
Transactions in which goods supplied do not leave the country and payment is received in foreign exchange
Transactions in which goods are exported without proper authorization
Transactions in which goods are exported without proper documentation
Transactions in which goods are sold at a higher price than the market value
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main function of the SWIFT network in the financial industry?
To enable financial institutions worldwide to send and receive information about financial transactions
To facilitate import-export operations
To regulate foreign exchange rates
To manage international trade regulations
8.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the maximum all-in cost ceiling for New FCY ECB as per the latest circular?
Benchmark Rate + 500 bps
Benchmark Rate + 450 bps
Benchmark Rate + 250 bps
Benchmark Rate + 300 bps
9.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of the Single Master Form (SMF) on the FIRMS portal?
To regulate foreign trade transactions
To report various investments received by a person resident in India from a person resident outside India
To manage foreign exchange reserves
To facilitate foreign portfolio investments
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