Question 1
What do you understand by customs duty? Explain the taxable events for imported, warehoused and exported goods. List down the types of duties in customs. An importer imports goods for subsequent sale in India at $10,000 on assessable value basis. Relevant exchange rate and rate of duty are as follows
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Particulars
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Date
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Exchange Rate Declared by CBE&C
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Rate of Basic Customs Duty
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Date of submission of bill of entry
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25th February, 2010
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' 45/$
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8%
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Date of entry inwards granted to the vessel
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5th March, 2010
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' 49/$
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10%
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Calculate assessable value and customs duty
Question 2
Explain major considerations in capital structure planning. Write about the dividend policy and factors affecting dividend decisions