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What is a critical implication of the migration to ICEGATE for customs duties?
  • a)
    It simplifies the customs duty collection process
  • b)
    It allows for real-time tracking of goods
  • c)
    It classifies movements from DTAs to SEZs as exports
  • d)
    It eliminates the need for separate data systems
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
What is a critical implication of the migration to ICEGATE for customs...
A critical implication of the migration to ICEGATE is that movements of goods from Domestic Tariff Areas (DTAs) to Special Economic Zones (SEZs) are classified as exports for customs purposes. This classification is essential for accurately assessing customs duties, especially when goods manufactured in SEZs undergo further value addition in DTAs before being sent back to SEZs. Understanding this distinction is vital for businesses and customs authorities to ensure the correct calculation of duties and compliance with trade regulations.
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What is a critical implication of the migration to ICEGATE for customs duties?a) It simplifies the customs duty collection processb) It allows for real-time tracking of goodsc) It classifies movements from DTAs to SEZs as exportsd) It eliminates the need for separate data systemsCorrect answer is option 'C'. 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 What is a critical implication of the migration to ICEGATE for customs duties?a) It simplifies the customs duty collection processb) It allows for real-time tracking of goodsc) It classifies movements from DTAs to SEZs as exportsd) It eliminates the need for separate data systemsCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for CLAT 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is a critical implication of the migration to ICEGATE for customs duties?a) It simplifies the customs duty collection processb) It allows for real-time tracking of goodsc) It classifies movements from DTAs to SEZs as exportsd) It eliminates the need for separate data systemsCorrect answer is option 'C'. Can you explain this answer?.
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