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Question
Which of the following is the first step in the import trade procedure?
Options
Payment of customs duty.
Appointment of Clearing and Forwarding (C&F) Agent.
Registration for IEC, PAN, and GST.
Collection of shipping documents.
MCQ
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Solution
Registration for IEC, PAN, and GST.
Explanation:
Registration with the necessary authorities (DGFT, Income Tax, GST) is the first step in import trade to legally allow import activities.
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