Which of the following statements about the government rsquo s imposition of safeguard duty on impor...........

Economic Affairs Tax System

Which of the following statements about the government’s imposition of safeguard duty on import of solar cells is/are correct?

1. The duty will be imposed on the solar cells that India imports from around the world.

2. The safeguard duty has been imposed to keep the international market price of solar cells stable towards lower end by curbing excessive demand of the solar cells from India.

Choose the correct alternative:

1 Only

2 Only

Both 1 and 2

Neither 1 nor 2

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Explanation:

Fourth option is correct.

The first statement is incorrect as the safeguard duty has been imposed only on solar cells import from Malaysia and China. Further, the second statement is incorrect because it has been imposed to protect the interests of the local manufacturers.