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    Question

    Consider the following statements with reference to indirect taxes in Budget 2020.

    1. Custom duty was raised on footwear from  25% to 35% and on furniture goods from 20% to 25%.

    2. Basic customs duty on imports of newsprint and light  - weighted coated paper was reduced  from 10% to 5%.

    Which of the statements given above is/are correct?

    A Neither 1 nor 2 Correct Answer Incorrect Answer
    B Only 2 Correct Answer Incorrect Answer
    C Only 1 Correct Answer Incorrect Answer
    D Both 1 and 2 Correct Answer Incorrect Answer

    Solution

    The correct answer is D

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