Q. In which year, the custom duties were completely waived for the trade for East India Company?
Answer: 1717
Notes: Mughal Emperor Farrukhsiyar granted a forman to the East India Company, which is regarded as Magna Carta in the year 1717. As per the Farman the import and export duty of the company was exempted from the customs duty. Issuing of Dastak was permitted for transportation of goods. Levy of all duties were exempted in Surat for a payment of Rs. 10,000 annually.

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