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Today the import duty on a complete machine is 35% for all practical purposes, whereas the import duty on the raw material and components ranges from 40 % to 85%. The story does not end here. After paying such high import duties on suffers excise duty from 5% to 10% (including on the custom duty already paid). At the time of sale, the machine tools suffer further taxation that is central 4% to 16%. This is too much for the tax angle. Another factor which pushes the cost manufactures of machines tools is the very high rate of interest payable to banks ranging upto 22%, as against 4% to 7% prevailing in advanced countries.The production of machine tools in India being not of the same scale as it is in other countries, the price which India’s machine tools builder have to pay for components is more or less based on pattern of high pricing applicable to the prices of spares. The above represents only a few of the extraneous reason for the high cost of Indian machines.The machine tool industry in India has an enviable record of very quick technology absorption, assimilation and development. There are a number of success stories about how machine tool builder were of help at the most critical times. It will be a pity, in fact a tragedy, if we allow this industry to die and disappear from the scene.It is to be noted that India is at least 6000 km away from any dependable source of supply of machine tools. The government of India has always given a great deal of small scale and medium scale industries. This industry has also performed pretty well. Today, they are in need of help from India’s machine tool industry to enable them to produce quality components at reduced costs. It is anybody case that their needs of this fragile sector (which needs tender care) will be met from 6000 km away.Then, what is it that the industry requests from the government? It wants level playing field. In facts, all of us must have a deep introspection and recognize the fact that the machine tool industry has a very special place in the country from the point of strategic & vital interest of the nation. Most important, it request for the Government consideration and understanding.Q.If the bank’s rate of interest in India is made on par with that in advanced countries, the cost of manufacture of machine tool.a)May go up by about 4 to 7%.b)May increase by about 22%.c)May decrease by about 4 to 7%.d)May decrease by about 15 to 18%e)Will remain the same due to import dutyCorrect answer is option 'D'. Can you explain this answer? for CLAT 2025 is part of CLAT preparation. The Question and answers have been prepared according to the CLAT exam syllabus. Information about Today the import duty on a complete machine is 35% for all practical purposes, whereas the import duty on the raw material and components ranges from 40 % to 85%. The story does not end here. After paying such high import duties on suffers excise duty from 5% to 10% (including on the custom duty already paid). At the time of sale, the machine tools suffer further taxation that is central 4% to 16%. This is too much for the tax angle. Another factor which pushes the cost manufactures of machines tools is the very high rate of interest payable to banks ranging upto 22%, as against 4% to 7% prevailing in advanced countries.The production of machine tools in India being not of the same scale as it is in other countries, the price which India’s machine tools builder have to pay for components is more or less based on pattern of high pricing applicable to the prices of spares. The above represents only a few of the extraneous reason for the high cost of Indian machines.The machine tool industry in India has an enviable record of very quick technology absorption, assimilation and development. There are a number of success stories about how machine tool builder were of help at the most critical times. It will be a pity, in fact a tragedy, if we allow this industry to die and disappear from the scene.It is to be noted that India is at least 6000 km away from any dependable source of supply of machine tools. The government of India has always given a great deal of small scale and medium scale industries. This industry has also performed pretty well. Today, they are in need of help from India’s machine tool industry to enable them to produce quality components at reduced costs. It is anybody case that their needs of this fragile sector (which needs tender care) will be met from 6000 km away.Then, what is it that the industry requests from the government? It wants level playing field. In facts, all of us must have a deep introspection and recognize the fact that the machine tool industry has a very special place in the country from the point of strategic & vital interest of the nation. Most important, it request for the Government consideration and understanding.Q.If the bank’s rate of interest in India is made on par with that in advanced countries, the cost of manufacture of machine tool.a)May go up by about 4 to 7%.b)May increase by about 22%.c)May decrease by about 4 to 7%.d)May decrease by about 15 to 18%e)Will remain the same due to import dutyCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for CLAT 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Today the import duty on a complete machine is 35% for all practical purposes, whereas the import duty on the raw material and components ranges from 40 % to 85%. The story does not end here. After paying such high import duties on suffers excise duty from 5% to 10% (including on the custom duty already paid). At the time of sale, the machine tools suffer further taxation that is central 4% to 16%. This is too much for the tax angle. Another factor which pushes the cost manufactures of machines tools is the very high rate of interest payable to banks ranging upto 22%, as against 4% to 7% prevailing in advanced countries.The production of machine tools in India being not of the same scale as it is in other countries, the price which India’s machine tools builder have to pay for components is more or less based on pattern of high pricing applicable to the prices of spares. The above represents only a few of the extraneous reason for the high cost of Indian machines.The machine tool industry in India has an enviable record of very quick technology absorption, assimilation and development. There are a number of success stories about how machine tool builder were of help at the most critical times. It will be a pity, in fact a tragedy, if we allow this industry to die and disappear from the scene.It is to be noted that India is at least 6000 km away from any dependable source of supply of machine tools. The government of India has always given a great deal of small scale and medium scale industries. This industry has also performed pretty well. Today, they are in need of help from India’s machine tool industry to enable them to produce quality components at reduced costs. It is anybody case that their needs of this fragile sector (which needs tender care) will be met from 6000 km away.Then, what is it that the industry requests from the government? It wants level playing field. In facts, all of us must have a deep introspection and recognize the fact that the machine tool industry has a very special place in the country from the point of strategic & vital interest of the nation. Most important, it request for the Government consideration and understanding.Q.If the bank’s rate of interest in India is made on par with that in advanced countries, the cost of manufacture of machine tool.a)May go up by about 4 to 7%.b)May increase by about 22%.c)May decrease by about 4 to 7%.d)May decrease by about 15 to 18%e)Will remain the same due to import dutyCorrect answer is option 'D'. Can you explain this answer?.

Solutions for Today the import duty on a complete machine is 35% for all practical purposes, whereas the import duty on the raw material and components ranges from 40 % to 85%. The story does not end here. After paying such high import duties on suffers excise duty from 5% to 10% (including on the custom duty already paid). At the time of sale, the machine tools suffer further taxation that is central 4% to 16%. This is too much for the tax angle. Another factor which pushes the cost manufactures of machines tools is the very high rate of interest payable to banks ranging upto 22%, as against 4% to 7% prevailing in advanced countries.The production of machine tools in India being not of the same scale as it is in other countries, the price which India’s machine tools builder have to pay for components is more or less based on pattern of high pricing applicable to the prices of spares. The above represents only a few of the extraneous reason for the high cost of Indian machines.The machine tool industry in India has an enviable record of very quick technology absorption, assimilation and development. There are a number of success stories about how machine tool builder were of help at the most critical times. It will be a pity, in fact a tragedy, if we allow this industry to die and disappear from the scene.It is to be noted that India is at least 6000 km away from any dependable source of supply of machine tools. The government of India has always given a great deal of small scale and medium scale industries. This industry has also performed pretty well. Today, they are in need of help from India’s machine tool industry to enable them to produce quality components at reduced costs. It is anybody case that their needs of this fragile sector (which needs tender care) will be met from 6000 km away.Then, what is it that the industry requests from the government? It wants level playing field. In facts, all of us must have a deep introspection and recognize the fact that the machine tool industry has a very special place in the country from the point of strategic & vital interest of the nation. Most important, it request for the Government consideration and understanding.Q.If the bank’s rate of interest in India is made on par with that in advanced countries, the cost of manufacture of machine tool.a)May go up by about 4 to 7%.b)May increase by about 22%.c)May decrease by about 4 to 7%.d)May decrease by about 15 to 18%e)Will remain the same due to import dutyCorrect answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for CLAT. Download more important topics, notes, lectures and mock test series for CLAT Exam by signing up for free.

Here you can find the meaning of Today the import duty on a complete machine is 35% for all practical purposes, whereas the import duty on the raw material and components ranges from 40 % to 85%. The story does not end here. After paying such high import duties on suffers excise duty from 5% to 10% (including on the custom duty already paid). At the time of sale, the machine tools suffer further taxation that is central 4% to 16%. This is too much for the tax angle. Another factor which pushes the cost manufactures of machines tools is the very high rate of interest payable to banks ranging upto 22%, as against 4% to 7% prevailing in advanced countries.The production of machine tools in India being not of the same scale as it is in other countries, the price which India’s machine tools builder have to pay for components is more or less based on pattern of high pricing applicable to the prices of spares. The above represents only a few of the extraneous reason for the high cost of Indian machines.The machine tool industry in India has an enviable record of very quick technology absorption, assimilation and development. There are a number of success stories about how machine tool builder were of help at the most critical times. It will be a pity, in fact a tragedy, if we allow this industry to die and disappear from the scene.It is to be noted that India is at least 6000 km away from any dependable source of supply of machine tools. The government of India has always given a great deal of small scale and medium scale industries. This industry has also performed pretty well. Today, they are in need of help from India’s machine tool industry to enable them to produce quality components at reduced costs. It is anybody case that their needs of this fragile sector (which needs tender care) will be met from 6000 km away.Then, what is it that the industry requests from the government? It wants level playing field. In facts, all of us must have a deep introspection and recognize the fact that the machine tool industry has a very special place in the country from the point of strategic & vital interest of the nation. Most important, it request for the Government consideration and understanding.Q.If the bank’s rate of interest in India is made on par with that in advanced countries, the cost of manufacture of machine tool.a)May go up by about 4 to 7%.b)May increase by about 22%.c)May decrease by about 4 to 7%.d)May decrease by about 15 to 18%e)Will remain the same due to import dutyCorrect answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Today the import duty on a complete machine is 35% for all practical purposes, whereas the import duty on the raw material and components ranges from 40 % to 85%. The story does not end here. After paying such high import duties on suffers excise duty from 5% to 10% (including on the custom duty already paid). At the time of sale, the machine tools suffer further taxation that is central 4% to 16%. This is too much for the tax angle. Another factor which pushes the cost manufactures of machines tools is the very high rate of interest payable to banks ranging upto 22%, as against 4% to 7% prevailing in advanced countries.The production of machine tools in India being not of the same scale as it is in other countries, the price which India’s machine tools builder have to pay for components is more or less based on pattern of high pricing applicable to the prices of spares. The above represents only a few of the extraneous reason for the high cost of Indian machines.The machine tool industry in India has an enviable record of very quick technology absorption, assimilation and development. There are a number of success stories about how machine tool builder were of help at the most critical times. It will be a pity, in fact a tragedy, if we allow this industry to die and disappear from the scene.It is to be noted that India is at least 6000 km away from any dependable source of supply of machine tools. The government of India has always given a great deal of small scale and medium scale industries. This industry has also performed pretty well. Today, they are in need of help from India’s machine tool industry to enable them to produce quality components at reduced costs. It is anybody case that their needs of this fragile sector (which needs tender care) will be met from 6000 km away.Then, what is it that the industry requests from the government? It wants level playing field. In facts, all of us must have a deep introspection and recognize the fact that the machine tool industry has a very special place in the country from the point of strategic & vital interest of the nation. Most important, it request for the Government consideration and understanding.Q.If the bank’s rate of interest in India is made on par with that in advanced countries, the cost of manufacture of machine tool.a)May go up by about 4 to 7%.b)May increase by about 22%.c)May decrease by about 4 to 7%.d)May decrease by about 15 to 18%e)Will remain the same due to import dutyCorrect answer is option 'D'. Can you explain this answer?, a detailed solution for Today the import duty on a complete machine is 35% for all practical purposes, whereas the import duty on the raw material and components ranges from 40 % to 85%. The story does not end here. After paying such high import duties on suffers excise duty from 5% to 10% (including on the custom duty already paid). At the time of sale, the machine tools suffer further taxation that is central 4% to 16%. This is too much for the tax angle. Another factor which pushes the cost manufactures of machines tools is the very high rate of interest payable to banks ranging upto 22%, as against 4% to 7% prevailing in advanced countries.The production of machine tools in India being not of the same scale as it is in other countries, the price which India’s machine tools builder have to pay for components is more or less based on pattern of high pricing applicable to the prices of spares. The above represents only a few of the extraneous reason for the high cost of Indian machines.The machine tool industry in India has an enviable record of very quick technology absorption, assimilation and development. There are a number of success stories about how machine tool builder were of help at the most critical times. It will be a pity, in fact a tragedy, if we allow this industry to die and disappear from the scene.It is to be noted that India is at least 6000 km away from any dependable source of supply of machine tools. The government of India has always given a great deal of small scale and medium scale industries. This industry has also performed pretty well. Today, they are in need of help from India’s machine tool industry to enable them to produce quality components at reduced costs. It is anybody case that their needs of this fragile sector (which needs tender care) will be met from 6000 km away.Then, what is it that the industry requests from the government? It wants level playing field. In facts, all of us must have a deep introspection and recognize the fact that the machine tool industry has a very special place in the country from the point of strategic & vital interest of the nation. Most important, it request for the Government consideration and understanding.Q.If the bank’s rate of interest in India is made on par with that in advanced countries, the cost of manufacture of machine tool.a)May go up by about 4 to 7%.b)May increase by about 22%.c)May decrease by about 4 to 7%.d)May decrease by about 15 to 18%e)Will remain the same due to import dutyCorrect answer is option 'D'. Can you explain this answer? has been provided alongside types of Today the import duty on a complete machine is 35% for all practical purposes, whereas the import duty on the raw material and components ranges from 40 % to 85%. The story does not end here. After paying such high import duties on suffers excise duty from 5% to 10% (including on the custom duty already paid). At the time of sale, the machine tools suffer further taxation that is central 4% to 16%. This is too much for the tax angle. Another factor which pushes the cost manufactures of machines tools is the very high rate of interest payable to banks ranging upto 22%, as against 4% to 7% prevailing in advanced countries.The production of machine tools in India being not of the same scale as it is in other countries, the price which India’s machine tools builder have to pay for components is more or less based on pattern of high pricing applicable to the prices of spares. The above represents only a few of the extraneous reason for the high cost of Indian machines.The machine tool industry in India has an enviable record of very quick technology absorption, assimilation and development. There are a number of success stories about how machine tool builder were of help at the most critical times. It will be a pity, in fact a tragedy, if we allow this industry to die and disappear from the scene.It is to be noted that India is at least 6000 km away from any dependable source of supply of machine tools. The government of India has always given a great deal of small scale and medium scale industries. This industry has also performed pretty well. Today, they are in need of help from India’s machine tool industry to enable them to produce quality components at reduced costs. It is anybody case that their needs of this fragile sector (which needs tender care) will be met from 6000 km away.Then, what is it that the industry requests from the government? It wants level playing field. In facts, all of us must have a deep introspection and recognize the fact that the machine tool industry has a very special place in the country from the point of strategic & vital interest of the nation. Most important, it request for the Government consideration and understanding.Q.If the bank’s rate of interest in India is made on par with that in advanced countries, the cost of manufacture of machine tool.a)May go up by about 4 to 7%.b)May increase by about 22%.c)May decrease by about 4 to 7%.d)May decrease by about 15 to 18%e)Will remain the same due to import dutyCorrect answer is option 'D'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Today the import duty on a complete machine is 35% for all practical purposes, whereas the import duty on the raw material and components ranges from 40 % to 85%. The story does not end here. After paying such high import duties on suffers excise duty from 5% to 10% (including on the custom duty already paid). At the time of sale, the machine tools suffer further taxation that is central 4% to 16%. This is too much for the tax angle. Another factor which pushes the cost manufactures of machines tools is the very high rate of interest payable to banks ranging upto 22%, as against 4% to 7% prevailing in advanced countries.The production of machine tools in India being not of the same scale as it is in other countries, the price which India’s machine tools builder have to pay for components is more or less based on pattern of high pricing applicable to the prices of spares. The above represents only a few of the extraneous reason for the high cost of Indian machines.The machine tool industry in India has an enviable record of very quick technology absorption, assimilation and development. There are a number of success stories about how machine tool builder were of help at the most critical times. It will be a pity, in fact a tragedy, if we allow this industry to die and disappear from the scene.It is to be noted that India is at least 6000 km away from any dependable source of supply of machine tools. The government of India has always given a great deal of small scale and medium scale industries. This industry has also performed pretty well. Today, they are in need of help from India’s machine tool industry to enable them to produce quality components at reduced costs. It is anybody case that their needs of this fragile sector (which needs tender care) will be met from 6000 km away.Then, what is it that the industry requests from the government? It wants level playing field. In facts, all of us must have a deep introspection and recognize the fact that the machine tool industry has a very special place in the country from the point of strategic & vital interest of the nation. Most important, it request for the Government consideration and understanding.Q.If the bank’s rate of interest in India is made on par with that in advanced countries, the cost of manufacture of machine tool.a)May go up by about 4 to 7%.b)May increase by about 22%.c)May decrease by about 4 to 7%.d)May decrease by about 15 to 18%e)Will remain the same due to import dutyCorrect answer is option 'D'. Can you explain this answer? tests, examples and also practice CLAT tests.