Meaning of difference between import and export duty
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Explanation:
Import is when a company buys goods from another country, with an aim of reselling it in the domestic market. Export is when a company provides goods and services to the other countries for selling purposes. To meet the demand for goods which are not available in the domestic country.
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Answer:
Export means sending goods to another country.
Ex :- India exports many spices to different countries.
Import means receiving a good from another country.
Ex :- This is imported from South Korean.
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