Choose the below statement is true/false;

The Company was expected to pay duty for their goods.

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True

False

answer is A.

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Detailed Solution

The above statement is True.
The East India Company started building a fort near the settlement of their first factory in 1696, on the river Hugli banks. Two years later, they bribed Mughal officials and got zamindari rights over three villages. Later they persuaded Aurangzeb to issue a decree in which he granted the right to trade duty-free to the Company. But the Company was making different ways to get more concessions and manipulating existing privileges. The Company was only allowed the right to trade duty-free, but they were supposed to pay duty for their goods because they were carrying on private trade, which they refused to pay. This causes a huge revenue loss for Bengal.

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