Which of the following statements is NOT correct?
A. Merchandise imported in excess of either an absolute or a tariff-rate quota may be held for the opening of the next quota period by placing it in a foreign-trade zone or by entering it for warehouse, or it may be exported or destroyed under Customs supervision.
B. Reduced or modified duty rates under tariff-rate quotas are not applicable to products imported directly and indirectly from the countries or areas listed under the General Note 3(b), Harmonized Tariff Schedule of the United States (HTSUS).
C. Quotas vary by the type of commodity involved, the country of exportation, the period or periods the quota is open and the type of quota.
D. At the opening of the quota an importer shall be permitted to present entries or withdrawals for consumption of quota-class merchandise for a quantity 10% in excess of the quantity admissible under the applicable quota.
E. In the event a quota is prorated, entry summaries for consumption, or withdrawals for consumption, with estimated duties attached, shall be returned to the importer for adjustment.
[bg_collapse view=”button-green” color=”#4a4949″ icon=”arrow” expand_text=”Show Answer and Citation” collapse_text=”Hide Answer and Citation” ]
The Answer is: D
Citation: 19 CFR 132.1 19 CFR 132.4 19 CFR 132.5 19 CFR 132.6
[/bg_collapse]