Rajesh Dhawan

Right Issue and IAS 32 Implication

Finance - A rights issue is basically when a company offers existing shareholders a right to purchase additional shares of the company at a given price, which is at a discount to the prevailing market price of the stock, to make the offer enticing for the shareholder and to ensure that the rights offer is fully subscribed to. ...

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Translation of foreign currency financial statements

Finance - IASs have no explicit concept of functional currency. Whatever currency the accounts are presented in is simply known as the reporting currency (all other currencies are foreign currencies) and its role in the translation processes is similar to that of the US and UK functional currency. ...

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Nil Excise Duty Still Taxable

Finance - It is commonly known that levy of excise duty arises on manufacture and the duty is collected on removal of goods from the factory. However, all manufacturing process does not attract levy of excise duty unless some basic conditions are met. ...

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Special Economic Zones-Notifications/Exemptions Withdrawn

Finance - Amendments by Finance Act, 2011 to withdraw exemption from MAT & Dividend Distribution Tax to SEZ developers/units are not unconstitutional. In the impugned amendment it is made clear that it is prospective in nature. Therefore the impugned amendments can neither be said unreasonable or arbitrary....

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Excise & Customs- Interim Budget 2014

Finance - Government needs funds for various purposes like maintenance of law and order, defence, social & health services etc. Government obtains funds from various sources, out for which one main source is taxation. Taxes are conventionally broadly classified as Direct Taxes and Indirect Taxes....

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Recent Posts in "Rajesh Dhawan"

Right Issue and IAS 32 Implication

A rights issue is basically when a company offers existing shareholders a right to purchase additional shares of the company at a given price, which is at a discount to the prevailing market price of the stock, to make the offer enticing for the shareholder and to ensure that the rights offer is fully subscribed to. ...

Read More
Posted Under: Finance |

Translation of foreign currency financial statements

IASs have no explicit concept of functional currency. Whatever currency the accounts are presented in is simply known as the reporting currency (all other currencies are foreign currencies) and its role in the translation processes is similar to that of the US and UK functional currency. ...

Read More
Posted Under: Finance |

Nil Excise Duty Still Taxable

It is commonly known that levy of excise duty arises on manufacture and the duty is collected on removal of goods from the factory. However, all manufacturing process does not attract levy of excise duty unless some basic conditions are met. ...

Read More
Posted Under: Finance |

Special Economic Zones-Notifications/Exemptions Withdrawn

Amendments by Finance Act, 2011 to withdraw exemption from MAT & Dividend Distribution Tax to SEZ developers/units are not unconstitutional. In the impugned amendment it is made clear that it is prospective in nature. Therefore the impugned amendments can neither be said unreasonable or arbitrary....

Read More
Posted Under: Finance |

Excise & Customs- Interim Budget 2014

Government needs funds for various purposes like maintenance of law and order, defence, social & health services etc. Government obtains funds from various sources, out for which one main source is taxation. Taxes are conventionally broadly classified as Direct Taxes and Indirect Taxes....

Read More
Posted Under: Finance |

Exporters Benefits @ 2014- Foreign Trade Policy

The Central Board of Excise and Customs (CBEC) has notified the procedure, safeguards, conditions and limitations for claiming refund of unutilised Cenvat credit taken on inputs and input services during the half-year for which it is claimed, for providing the services of renting of a motor vehicle designed to carry passengers on the non-...

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Posted Under: Finance |

All about Duty Drawback Exim Scheme

The term drawback is applied to a certain amount of duties of Customs and Central Excise, sometimes the whole, sometimes only a part remitted or paid by Government on the exportation of the commodities on which they were levied. ...

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Posted Under: Finance |

Central Indirect Tax Litigations – Different Levels for Dispute resolution

India has steadily streamlined its central indirect tax regime over the last 30 years. The law has increasingly become simpler and easier to interpret and administer. Central indirect tax laws in India, at the central level, provide various avenues for resolution of tax disputes/litigations. ...

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Posted Under: Finance |

Sales In Course of Import and High Seas Sales under CST Act, 1956

High Sea Sales (HSS) is a sale carried out by the carrier document consignee to another buyer while the goods are yet on high seas or after their dispatch from the port/airport of origin and before their arrival at the port/ airport of destination. An High Sea Sales contract/ agreement should be signed after dispatch of goods from origin ...

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Posted Under: Finance | ,

EOUs and Central Sales Tax issue under Foreign Trade Policy

The export oriented units are entitled to full reimbursement of central sales tax paid by them on purchase from domestic tariff area units, when goods are used by them for production of finished goods meant for export. Accordingly, reimbursement of central sales tax on inputs used in goods meant for domestic tariff area sale by export ori...

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Posted Under: Finance |
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