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Principle: Import means bringing some consignment into India from a foreign country.
Facts: A consignment from Sri Lanka entered the territorial waters of India. However, this consignment never crossed the Indian custom barrier nor did it enter into the stream of commerce in India.
  • a)
    The consignment will only be imported into India when it enters into the stream of commerce in India
  • b)
    The consignment was not imported into India
  • c)
    The consignment was imported into India
  • d)
    The consignment will only be imported into India when it crosses the Indian custom barrier.
Correct answer is option 'C'. Can you explain this answer?
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Principle: Import means bringing some consignment into India from a fo...
The consignment was entered into India . When the goods or merchandise enters the border of that particular country for the consignment contract is said to be entered . Consignment is defined as a business course of action in which a business, likewise alluded to as a recipient, consents to pay a dealer, or agent, for stock after the thing sells.  
The business acknowledges things available to be purchased and consents to pay the merchant a level of the returns if and when the products do sell.
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Principle: Import means bringing some consignment into India from a fo...
Principle: Import refers to the act of bringing a consignment from a foreign country into India.

Facts:
- A consignment from Sri Lanka entered the territorial waters of India.
- However, this consignment never crossed the Indian custom barrier nor entered into the stream of commerce in India.

Explanation:
The given information states that a consignment from Sri Lanka has entered the territorial waters of India. However, it is important to understand the concept of import and the conditions that need to be met for a consignment to be considered imported into India.

Definition of Import:
Import refers to the act of bringing goods or commodities into a country from a foreign country. For a consignment to be considered imported into India, it should fulfill the following conditions:

1. Entry into the stream of commerce: The consignment should enter into the flow of trade or commerce in India. This means that the goods should be made available for sale or distribution within the country.

2. Passing the Indian custom barrier: The consignment should cross the Indian custom barrier, which is the point where goods are inspected and cleared by customs officials. This is an essential step to regulate imports and ensure compliance with customs regulations.

Analysis of Options:
a) The consignment will only be imported into India when it enters into the stream of commerce in India: This option is incorrect as it overlooks the requirement of crossing the Indian custom barrier.

b) The consignment was not imported into India: This option is incorrect as the consignment entered the territorial waters of India, which can be considered as the initial step towards import.

c) The consignment was imported into India: This option is correct as it aligns with the fact that the consignment from Sri Lanka entered the territorial waters of India.

d) The consignment will only be imported into India when it crosses the Indian custom barrier: This option is incorrect as it overlooks the possibility of the consignment being considered imported even if it does not cross the Indian custom barrier.

Conclusion:
Based on the given principle and facts, the correct answer is option 'C' - The consignment was imported into India. Although the consignment did not cross the Indian custom barrier or enter into the stream of commerce in India, its entry into the territorial waters of India is sufficient to be considered as imported.
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Principle: Import means bringing some consignment into India from a foreign country.Facts: A consignment from Sri Lanka entered the territorial waters of India. However, this consignment never crossed the Indian custom barrier nor did it enter into the stream of commerce in India.a)The consignment will only be imported into India when it enters into the stream of commerce in Indiab)The consignment was not imported into Indiac)The consignment was imported into Indiad)The consignment will only be imported into India when it crosses the Indian custom barrier.Correct answer is option 'C'. Can you explain this answer?
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Principle: Import means bringing some consignment into India from a foreign country.Facts: A consignment from Sri Lanka entered the territorial waters of India. However, this consignment never crossed the Indian custom barrier nor did it enter into the stream of commerce in India.a)The consignment will only be imported into India when it enters into the stream of commerce in Indiab)The consignment was not imported into Indiac)The consignment was imported into Indiad)The consignment will only be imported into India when it crosses the Indian custom barrier.Correct answer is option 'C'. Can you explain this answer? for Humanities/Arts 2024 is part of Humanities/Arts preparation. The Question and answers have been prepared according to the Humanities/Arts exam syllabus. Information about Principle: Import means bringing some consignment into India from a foreign country.Facts: A consignment from Sri Lanka entered the territorial waters of India. However, this consignment never crossed the Indian custom barrier nor did it enter into the stream of commerce in India.a)The consignment will only be imported into India when it enters into the stream of commerce in Indiab)The consignment was not imported into Indiac)The consignment was imported into Indiad)The consignment will only be imported into India when it crosses the Indian custom barrier.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Humanities/Arts 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Principle: Import means bringing some consignment into India from a foreign country.Facts: A consignment from Sri Lanka entered the territorial waters of India. However, this consignment never crossed the Indian custom barrier nor did it enter into the stream of commerce in India.a)The consignment will only be imported into India when it enters into the stream of commerce in Indiab)The consignment was not imported into Indiac)The consignment was imported into Indiad)The consignment will only be imported into India when it crosses the Indian custom barrier.Correct answer is option 'C'. Can you explain this answer?.
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