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What would be the effect if he gives

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Salim is a dealer in watches. He goes to Switzerland on a holiday. He spends there Rs. 25,000 on hotel accommodation and another Rs. 10,000 on food and travel. He also buys 200 new watches for Rs. 20,000. He pays 10% import duty on the watches at the airport when he returns to India. He sells them for Rs. 500 apiece.

Indicate the direct effect of all these transactions on the GNP at market price. What would be the effect if he gives away 10 of the watches as a gift to his relatives and 20 remained in stocks at the end of accounting period.

Reference no: EM132405720

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