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S.KRISHNAMURTHY, B.

Com, FCA, Visiting Faculty : IIM-B & Director BUSINESS SYSTEMS

SELF INSTRUCTION EXERCISE I


Right Wrong Remarks

SIE WTO

Sl. No.

Statement

1.

MFN Nation

means

Most

Friendly

2.

Under MFN, concession to one member of WTO, will be applicable to all other members. Under WTO there can be no import / export restrictions.

3.

4.

Bound Rate means reduction of customs duties on all the imports by a country. All Bound Rates are negotiated rates of customs by each member country. Subsidy means a bounty given by a country to an exporter because he is an exporter. CVD and Anti-dumping duty are the same.

5.

6.

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8.

CVD and ADD cannot co-exist.

9.

Income tax concessions to an exporter is also a subsidy under WTO provisions.

S.KRISHNAMURTHY, B.Com, FCA, Visiting Faculty : IIM-B & Director BUSINESS SYSTEMS

SELF INSTRUCTION EXERCISE II


Right Wrong Remarks

SIE WTO

Sl. No.

Statement

1.

Safe Guard Duty (SGD) is country specific.

2.

ADD is product specific irrespective of the country of export.

3.

CVD is country irrespective of products.

specific

4.

ADD can be equal to injury margin but not exceeding dumping margin. ADD is equal to injury margin which ever is more.

5.

6.

CVD cannot be more than the excise duty on a similar product, if manufactured in India. Bound Rates are applicable only to Basic Customs Duty.

7.

8.

Duty Draw back is not a subsidy under WTO regulations.

9.

Trade Blocks are permitted under WTO.

10. GATT is no more applicable to WTO members.

S.KRISHNAMURTHY, B.Com, FCA, Visiting Faculty : IIM-B & Director BUSINESS SYSTEMS

SELF INSTRUCTION EXERCISE III


Right Wrong Remarks

SIE WTO

Sl. No.

Statement

1.

Agreement on Technical Barriers to Trade are the same as GATTs Standard Code. BIS (Bureau of Indian Standards) of New Delhi, is the Designated Authority for monitoring GATTs Standard Code. Under WTO, there cannot be quality discrimination between indigenous goods and imported goods. ISO is not applicable for trade in goods between WTO member countries. The MRP declaration system introduced by Customs in India, is violative of GATTs Standard Code. Mis-classification of imported goods against HSN can amount to violation of GATTs Standard Code. An export-obligation to earn extra foreign exchange is also a violation of GATTs Standard Code. No minimum quality requirements are permitted under GATTs Standard Code.

2.

3.

4.

5.

6.

7.

8.

S.KRISHNAMURTHY, B.Com, FCA, Visiting Faculty : IIM-B & Director BUSINESS SYSTEMS

SELF INSTRUCTION EXERCISE IV


Right Wrong Remarks

SIE WTO

Sl. No.

Statement

1.

TRIPS & TRIMS are one and the same under WTO.

2.

TRIPS apply only for Patents and not to Copyrights.

3.

Registration under Copyrights law is mandatory to protect ones copy right. Copy-right is the same as Trade Mark.

4.

5.

Copy-right is for discoveries and Patents are for inventions.

6.

Patent necessarily means disclosure of the secret behind a process or a product. Patent is only for goods and Copy-right only for non-goods.

7.

8.

Design & Trade Mark is distinct and different from Patents.

9.

Copy-right means a monopolistic right to copy.

10. WIPO is the lead-organisation for both TRIPS & TRIMS.