Question

under foreign trade, explain import and export duties​

Answer 1

Answer:

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Typically, the procedure for import and export activities involves ensuring licensing and compliance before the shipping of goods, arranging for transport and warehousing after the unloading of goods, and getting customs clearance as well as paying taxes before the release of goods.

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Answer 2

Import and Export Licensing Procedures in India

India's import and export system is governed by the Foreign Trade (Development & Regulation) Act of 1992 and India's Export Import Policy. Imports and exports of all goods are free, except for the items regulated by the EXIM policy or any other law currently in force.