Current Affairs · Customs Act and Economic Regulations
Consider the following statements regarding the Eligible Manufacturer Importers (EMIs) Scheme: Testbook + 1 Statement I: The Eligible Manufacturer Importers (EMIs) Scheme, introduced under Section 47(1) of the Customs Act, 1962, enables eligible importers to clear imported goods without upfront payment of Customs duty, with duty payable later in accordance with the Deferred Payment of Import Duty Rules, 2016. Statement II: Under the Authorised Economic Operator (AEO) framework in India, only entities that have obtained AEO-T2 or AEO-T3 certification are permitted to avail the benefits of the EMI Scheme. Which one of the following is correct in respect of the above statements?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Both Statement I and Statement II are correct, and Statement II is the correct explanation for Statement I.
- 2Both Statement I and Statement II are correct, but Statement II is not the correct explanation for Statement I.
- 3Statement I is correct, but Statement II is incorrect.✓
- 4Statement I is incorrect, but Statement II is correct.
Correct answer
Statement I is correct, but Statement II is incorrect.
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