Custom duty is an instrument of
(A) Monetary Policy
(B) Foreign Trade Policy
(C) Industrial Policy
(D) Fiscal Policy
Correct Answer : Foreign Trade Policy
Question Asked : SSC Multi-Tasking Staff Exam 2013
Explanation : Custom duty is a tax on imports imposed on an ad valorem basis, i.e, fixed in the form of a percentage on the value of the commodity imported. After the regulation of goods & service act, this tax became irrelevant. Integrated GST (IGSI) replaced this tax of 1st June. 2017.
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