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With reference to the Time Release Studies (TRS), consider the following statements:
1. TRS are essentially a performance measurement tool for assessing the cargo clearance process of the international trade.
2. It is recommended by the World Trade Organization (WTO) under the Trade Facilitation Agreement (TFA) and the World Customs Organization (WCO).
Which of the statements given above is/are correct?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
With reference to the Time Release Studies (TRS), consider the followi...
Shri Vivek Johri, Chairman, Central Board of Indirect Taxes and Customs (CBIC), presented a set of Time Release Studies (TRS) conducted by the department.
  • TRS are essentially a performance measurement tool for assessing the cargo clearance process of the international trade, as recommended by the World Trade Organization (WTO) under the Trade Facilitation Agreement (TFA) and the World Customs Organization (WCO).
  • It adopts average cargo release time, i.e. the time taken from the arrival of the cargo at the customs station to its eventual release for import or export, as the case may be.
  • The National Time Release Study (NTRS) 2022 covered 15 major Customs formations, including four port categories - seaports, air cargo complexes (ACCs), inland container depot (ICDs) and integrated check posts (ICPs) and is based on the sample period between 1st – 7th January 2022.
Hence both statements are correct.
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With reference to the Time Release Studies (TRS), consider the following statements:1. TRS are essentially a performance measurement tool for assessing the cargo clearance process of the international trade.2. It is recommended by the World Trade Organization (WTO) under the Trade Facilitation Agreement (TFA) and the World Customs Organization (WCO).Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
Question Description
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