This document discusses customs self-assessment and on-site post clearance audits in India. It outlines key elements of self-assessment including completion of declarations, assessment of duties, and compliance requirements. It describes the on-site post clearance audit process including a minimum 15 day notice, reviewing relevant documents and goods on premises, and obligations of importers/exporters. The goal is to verify the accuracy of self-assessments and facilitate trade for compliant taxpayers.
MVAT (Maharashtra Value Added Tax) is a multi-stage tax system applied to sales at each stage of production and distribution. VAT aims to tax value addition at each stage, allowing businesses to claim credit for taxes paid on purchases. The key aspects covered are registration limits, tax rates, forms for filing returns, payment due dates, input tax credit provisions, and penalties for non-compliance.
VAT (value added tax) has replaced sales tax in India, including in Maharashtra, to establish a uniform, transparent taxation system. VAT is collected from producers and sellers on the incremental value added at each stage of production and distribution. In Maharashtra, VAT is governed by the MVAT Act and applies to the sale of goods at rates from 1-20% according to schedules. Key VAT concepts include the definition of goods, dealers, importers, and sales/purchase prices. Manufacturers and businesses with over 1 lakh annual sales or 10,000 rupees of taxable purchases/sales annually must register and file VAT returns electronically monthly, quarterly, or half-yearly.
This document is a student project submitted by Ms. Jeenal N. Rathod on Maharashtra Value Added Tax (MVAT). It provides an introduction and overview of MVAT, including its implementation in Maharashtra on April 1, 2005. It discusses the experience of implementing VAT previously in Maharashtra from 1995 to 1999. It also examines various aspects of assessment under the MVAT Act, including self-assessment, assessment of dealers, assessment of transactions, and re-assessment procedures.
An excise duty is a tax on goods produced within a country, as opposed to customs duties on imported goods. It is levied on the production or sale of goods and is a source of government revenue. To be subject to excise duty, goods must be movable, marketable, and mentioned in the Central Excise Tariff Act. There are basic, special, and additional excise duties charged at different rates. Liability for excise duty arises when goods are manufactured or produced in India and the manufacturer or producer is responsible for paying the duty. Valuation and duty rates can vary based on specific good characteristics or an ad valorem percentage of the goods' value.
This presentation summarizes the key aspects of value-added tax (VAT) in India. It introduces VAT and explains how it differs from other sales tax systems by being levied at multiple points of a product's production and distribution chain. The presentation outlines the history of taxation systems in India, the reasons for changing to VAT, how VAT affects the Indian economy, and compares the advantages and disadvantages of VAT to other systems. Real-world examples of calculating VAT are provided.
Six sigma is a statistical approach to process improvement that aims to reduce defects. It was developed by Motorola in the 1970s to improve quality. The six sigma method includes phases such as Define, Measure, Analyze, Improve, and Control to identify and remove defects in processes. It uses statistical tools and follows a DMAIC or DMADV model. While six sigma aims to improve processes and reduce defects, some critics argue it is more focused on appraisal than prevention and does not always yield quality improvements.
MVAT (Maharashtra Value Added Tax) is a multi-stage tax system applied to sales at each stage of production and distribution. VAT aims to tax value addition at each stage, allowing businesses to claim credit for taxes paid on purchases. The key aspects covered are registration limits, tax rates, forms for filing returns, payment due dates, input tax credit provisions, and penalties for non-compliance.
VAT (value added tax) has replaced sales tax in India, including in Maharashtra, to establish a uniform, transparent taxation system. VAT is collected from producers and sellers on the incremental value added at each stage of production and distribution. In Maharashtra, VAT is governed by the MVAT Act and applies to the sale of goods at rates from 1-20% according to schedules. Key VAT concepts include the definition of goods, dealers, importers, and sales/purchase prices. Manufacturers and businesses with over 1 lakh annual sales or 10,000 rupees of taxable purchases/sales annually must register and file VAT returns electronically monthly, quarterly, or half-yearly.
This document is a student project submitted by Ms. Jeenal N. Rathod on Maharashtra Value Added Tax (MVAT). It provides an introduction and overview of MVAT, including its implementation in Maharashtra on April 1, 2005. It discusses the experience of implementing VAT previously in Maharashtra from 1995 to 1999. It also examines various aspects of assessment under the MVAT Act, including self-assessment, assessment of dealers, assessment of transactions, and re-assessment procedures.
An excise duty is a tax on goods produced within a country, as opposed to customs duties on imported goods. It is levied on the production or sale of goods and is a source of government revenue. To be subject to excise duty, goods must be movable, marketable, and mentioned in the Central Excise Tariff Act. There are basic, special, and additional excise duties charged at different rates. Liability for excise duty arises when goods are manufactured or produced in India and the manufacturer or producer is responsible for paying the duty. Valuation and duty rates can vary based on specific good characteristics or an ad valorem percentage of the goods' value.
This presentation summarizes the key aspects of value-added tax (VAT) in India. It introduces VAT and explains how it differs from other sales tax systems by being levied at multiple points of a product's production and distribution chain. The presentation outlines the history of taxation systems in India, the reasons for changing to VAT, how VAT affects the Indian economy, and compares the advantages and disadvantages of VAT to other systems. Real-world examples of calculating VAT are provided.
Six sigma is a statistical approach to process improvement that aims to reduce defects. It was developed by Motorola in the 1970s to improve quality. The six sigma method includes phases such as Define, Measure, Analyze, Improve, and Control to identify and remove defects in processes. It uses statistical tools and follows a DMAIC or DMADV model. While six sigma aims to improve processes and reduce defects, some critics argue it is more focused on appraisal than prevention and does not always yield quality improvements.
This document describes managed or outsourced treasury services. It can provide treasury services on a temporary or long-term basis, and handle tasks such as cash management, funding, hedging, and risk management. Services are customized and involve front, middle, and back office functions. Key benefits include access to established operations and controls, lower costs through scale, and expert resources. Treasury is never fully outsourced however, as the client retains control and decision-making.
NITIN JAIN has over 8 years of experience as a Chartered Accountant, currently working as an Assistant Manager of Internal Audit at Ipca Laboratories Ltd in Mumbai. His responsibilities include risk assessment, designing financial procedures, and auditing various departments. He has experience auditing Ipca's international subsidiaries in Colombia and Peru, and has led projects to identify risks, improve processes, and save the company over $800,000 annually. NITIN holds a M.Com and is a qualified Chartered Accountant with the Institute of Chartered Accountants of India.
Wealthplanned! Financial Plannning and Wealth Management softwareCMC Ltd.
WealthPlanned is INdia's 1st integrated Financial Planning and Wealth Management solution on cloud. It is also available on Enterprise model. From CMC Ltd., a TATA group company
ex of my work for a client: Wealthplanned presentationPravin Gandhi
- Enjoyed branding Wealthplanned (tm of CMC Ltd.) as "Art of Making Your Clients Affluent"
- Packaged an integrated offering of Financial Planning and back office Wealth Management software
- on in-house or cloud platform;
- created awareness of product through linkedin and social media,
- designed promotional material
** this presentation is freely distributed on online media by client for procuct awareness **
high-level processes handled by Axpert TradePlus, an ERP for wholesale & distribution business, from Agile Labs. Easy to customise, extend and keep it evergreen. Offline mode makes it the only product suitable for locations with poor broadband internet. Best for AFRICA. email us at marketing@agile-labs.com, CC web@agile-labs.com
The document discusses the Authorised Economic Operator (AEO) scheme in India, which provides benefits and facilitation for businesses involved in international trade and supply chains. It outlines the objectives of the scheme, the different tiers of certification (Tier I, II, III), eligibility requirements, and benefits provided under each tier such as expedited customs clearance, self-certification, reduced auditing, and other trade facilitation measures. It also covers the benefits available for AEO Logistics Operators. The overall aim is to promote secure and compliant trade while facilitating the flow of goods.
The document discusses predictive, preventive, and progressive audits in the context of continuous audit and audit automation. It proposes a conceptual revolution is needed where measurements are full cycle and preemptive. Progressive (P1) audits involve automating actual audit processes by breaking them down into small automated steps. Preventive (P2) audits use forensic models to create preventive filters that flag transactions for review. Predictive (P3) audits use models to predict levels and flows, with variances establishing aberrations. Audit automation and continuous monitoring are seen as complementary and necessary for a real-time economy, but challenges include integrating systems and overcoming organizational obstacles.
Multiple suppliers have always found it difficult to oversee and simultaneously monitor contract labour compliances. The main employer, the contract worker, and the contractor are all stakeholders, which is why Aparajitha's contract labour compliance and vendor compliance services are designed for all of them. At Aparajitha, we comprehend that employers from a variety of sectors work with several vendors in diverse regions to meet their company needs. However, it is crucial for the principal employer to do a thorough screening and make sure the vendors or contractors they hire are compliant.
Is applying for many industrial licencing services necessary for your line of work complicated, pricey, and time-consuming? Aparajitha assists business organisations in getting / renewing Industrial licencing services in the quickest turnaround time thanks to its pan-India presence and strong relationships with industrial licencing services / registration authorities at Central, State, and local civic-body levels. We handle more than 75 licences that are subject to various industrial laws through our industrial licencing services.
OHL is a large, privately held logistics company that provides flexible and scalable supply chain solutions. They have over 6000 employees worldwide, 30 million square feet of distribution space, and an average customer relationship length of 9 years. OHL offers services including carrier management, technology solutions, performance management, freight audit and payment, and transportation management to help customers reduce costs by 15-20% on average. Potential customers are encouraged to contact OHL directly or include them in any bids or requests for proposals.
The Independent Forest Monitoring Network (JPIK) is a network of NGOs and indigenous groups in Indonesia that monitors the implementation of Indonesia's Timber Legality Assurance System (TLAS). It was established in 2009 and currently has 41 NGO members and 259 individual members. JPIK conducts capacity building, monitors TLAS implementation, and provides complaints and input to the accreditation and auditing bodies to strengthen the credibility and improve the system.
An exclusive presentation by Ronald Fernandes, SVP - Compliance Department - Axis Bank on 'Automation of Compliance Management – Implementation Considerations. The presentation was made at SAS Forum India 2013.
This document discusses accountancy and audit reform experiences, challenges, and key success factors. It provides an overview of the World Bank Centre for Financial Reporting Reform, including its work in the Europe and Central Asia region. The Centre works to establish international financial reporting standards and support countries' financial reporting systems through technical assistance, knowledge sharing, and partnerships. Effective financial reporting frameworks require appropriate accounting standards, independent auditing, and public oversight. The document also outlines the differentiated approach to financial reporting requirements for companies of different sizes in the European Union.
In this 2 Hour Online CPD Course Liam Grimes discusses some of the key issues pertaining to Revenue Audits – The selection process, audit practices, audit settlement as well as a detailed review of Revenue Powers. Liam also provides an overview of Budget 2012.
Export Compliance Management Seminar 29 & 31 May 2012: Global Trade Managemen...EagleCompliance
OCR Services, Inc. provides global trade management software solutions to help clients comply with international trade regulations. In this presentation, OCR introduces their Global EASE software, which offers end-to-end export/import functionality including denied party screening, product classification, license management, and customs filing. The software aims to streamline and automate global trade processes, reduce costs and delays, and provide access to regulatory information and databases to facilitate trade for importers and exporters operating in multiple countries. A demo then shows how the software can be used to manage product details, classifications, licenses and documentation for international shipments.
The document discusses drivers prompting financial executives to review company assets. It identifies factors like M&A activities, cost cutting measures, and inefficiencies in manual processes. The document then outlines the acquire-to-retire life cycle and key processes involved, including pre-acquisition, acquisition, monitoring and tracking, and reporting. It notes processes require significant data collection and manual intervention due to multiple sources and lack of automation.
The document outlines various trade facilitation initiatives undertaken by different ministries and departments in India to improve logistics for export-import activities. It provides details of over 130 initiatives across 8 line ministries, including 60 initiatives by the Ministry of Commerce and Industry. Key initiatives by the customs department include faceless assessment, eSANCHIT for electronic document submission, and ICEDASH for monitoring customs clearance times. The Ministry of Ports, Shipping and Waterways has undertaken initiatives such as gate automation at ports using RFID, increasing non-intrusive inspection technologies, and implementing the Major Ports Authorities Bill to provide more autonomy to ports.
The document discusses how an industrial manufacturing company implemented various analytics projects to enhance their internal audit process, including establishing a data mart, developing computer-assisted audit tools and techniques (CAATTs) to automate testing of purchasing and payables transactions, and analyzing areas like duplicate payments, suspicious vendors, and payments made on weekends. The analytics projects helped the company more efficiently monitor risks, detect control issues, and focus audit resources on exception areas.
Managing and Solving Production Based Customer Complaints and ConcernsIBS America
This document discusses managing production complaints and concerns. It outlines the typical situation of having no central database to capture issues from different sources. It presents the future state of having a common repository for all complaints with standardized data and links to other systems. The presentation then demonstrates the IBS quality management solution, showing how it can handle different types of complaints and provide reporting benefits.
This presentation covers the types of audit, its practical implications, tools for conducting audits, how to plan an audit, and what the outcomes of audit planning and finally how to execute an audit.
The Madras Chamber of Commerce & Industry (MCCI) is a 179-year-old organization that provides services to support trade and industry. MCCI offers businesses networking opportunities, information dissemination, arbitration services, and learning programs. Companies, professional firms, banks, and industrial associations can become members of MCCI. Membership provides benefits like access to MCCI communications and events, voting rights, and participation in expert committees.
The document provides the first report of the Tax Administration Reform Commission (TARC) in India. Some key highlights:
1. TARC was constituted to recommend reforms exclusively in tax administration and review application of tax policies and laws in context of global best practices.
2. The report covers organizational structure, business processes, dispute resolution, and taxpayer services as priority areas for reform based on TARC's mandate.
3. In developing recommendations, TARC consulted stakeholders including tax boards, field offices, taxpayers, and industry associations to understand experiences and expectations.
4. Key findings indicate tax administration reforms have been lacking in India despite policy reforms. Previous restructurings focused more on revenue collection than fundamental reforms
This document describes managed or outsourced treasury services. It can provide treasury services on a temporary or long-term basis, and handle tasks such as cash management, funding, hedging, and risk management. Services are customized and involve front, middle, and back office functions. Key benefits include access to established operations and controls, lower costs through scale, and expert resources. Treasury is never fully outsourced however, as the client retains control and decision-making.
NITIN JAIN has over 8 years of experience as a Chartered Accountant, currently working as an Assistant Manager of Internal Audit at Ipca Laboratories Ltd in Mumbai. His responsibilities include risk assessment, designing financial procedures, and auditing various departments. He has experience auditing Ipca's international subsidiaries in Colombia and Peru, and has led projects to identify risks, improve processes, and save the company over $800,000 annually. NITIN holds a M.Com and is a qualified Chartered Accountant with the Institute of Chartered Accountants of India.
Wealthplanned! Financial Plannning and Wealth Management softwareCMC Ltd.
WealthPlanned is INdia's 1st integrated Financial Planning and Wealth Management solution on cloud. It is also available on Enterprise model. From CMC Ltd., a TATA group company
ex of my work for a client: Wealthplanned presentationPravin Gandhi
- Enjoyed branding Wealthplanned (tm of CMC Ltd.) as "Art of Making Your Clients Affluent"
- Packaged an integrated offering of Financial Planning and back office Wealth Management software
- on in-house or cloud platform;
- created awareness of product through linkedin and social media,
- designed promotional material
** this presentation is freely distributed on online media by client for procuct awareness **
high-level processes handled by Axpert TradePlus, an ERP for wholesale & distribution business, from Agile Labs. Easy to customise, extend and keep it evergreen. Offline mode makes it the only product suitable for locations with poor broadband internet. Best for AFRICA. email us at marketing@agile-labs.com, CC web@agile-labs.com
The document discusses the Authorised Economic Operator (AEO) scheme in India, which provides benefits and facilitation for businesses involved in international trade and supply chains. It outlines the objectives of the scheme, the different tiers of certification (Tier I, II, III), eligibility requirements, and benefits provided under each tier such as expedited customs clearance, self-certification, reduced auditing, and other trade facilitation measures. It also covers the benefits available for AEO Logistics Operators. The overall aim is to promote secure and compliant trade while facilitating the flow of goods.
The document discusses predictive, preventive, and progressive audits in the context of continuous audit and audit automation. It proposes a conceptual revolution is needed where measurements are full cycle and preemptive. Progressive (P1) audits involve automating actual audit processes by breaking them down into small automated steps. Preventive (P2) audits use forensic models to create preventive filters that flag transactions for review. Predictive (P3) audits use models to predict levels and flows, with variances establishing aberrations. Audit automation and continuous monitoring are seen as complementary and necessary for a real-time economy, but challenges include integrating systems and overcoming organizational obstacles.
Multiple suppliers have always found it difficult to oversee and simultaneously monitor contract labour compliances. The main employer, the contract worker, and the contractor are all stakeholders, which is why Aparajitha's contract labour compliance and vendor compliance services are designed for all of them. At Aparajitha, we comprehend that employers from a variety of sectors work with several vendors in diverse regions to meet their company needs. However, it is crucial for the principal employer to do a thorough screening and make sure the vendors or contractors they hire are compliant.
Is applying for many industrial licencing services necessary for your line of work complicated, pricey, and time-consuming? Aparajitha assists business organisations in getting / renewing Industrial licencing services in the quickest turnaround time thanks to its pan-India presence and strong relationships with industrial licencing services / registration authorities at Central, State, and local civic-body levels. We handle more than 75 licences that are subject to various industrial laws through our industrial licencing services.
OHL is a large, privately held logistics company that provides flexible and scalable supply chain solutions. They have over 6000 employees worldwide, 30 million square feet of distribution space, and an average customer relationship length of 9 years. OHL offers services including carrier management, technology solutions, performance management, freight audit and payment, and transportation management to help customers reduce costs by 15-20% on average. Potential customers are encouraged to contact OHL directly or include them in any bids or requests for proposals.
The Independent Forest Monitoring Network (JPIK) is a network of NGOs and indigenous groups in Indonesia that monitors the implementation of Indonesia's Timber Legality Assurance System (TLAS). It was established in 2009 and currently has 41 NGO members and 259 individual members. JPIK conducts capacity building, monitors TLAS implementation, and provides complaints and input to the accreditation and auditing bodies to strengthen the credibility and improve the system.
An exclusive presentation by Ronald Fernandes, SVP - Compliance Department - Axis Bank on 'Automation of Compliance Management – Implementation Considerations. The presentation was made at SAS Forum India 2013.
This document discusses accountancy and audit reform experiences, challenges, and key success factors. It provides an overview of the World Bank Centre for Financial Reporting Reform, including its work in the Europe and Central Asia region. The Centre works to establish international financial reporting standards and support countries' financial reporting systems through technical assistance, knowledge sharing, and partnerships. Effective financial reporting frameworks require appropriate accounting standards, independent auditing, and public oversight. The document also outlines the differentiated approach to financial reporting requirements for companies of different sizes in the European Union.
In this 2 Hour Online CPD Course Liam Grimes discusses some of the key issues pertaining to Revenue Audits – The selection process, audit practices, audit settlement as well as a detailed review of Revenue Powers. Liam also provides an overview of Budget 2012.
Export Compliance Management Seminar 29 & 31 May 2012: Global Trade Managemen...EagleCompliance
OCR Services, Inc. provides global trade management software solutions to help clients comply with international trade regulations. In this presentation, OCR introduces their Global EASE software, which offers end-to-end export/import functionality including denied party screening, product classification, license management, and customs filing. The software aims to streamline and automate global trade processes, reduce costs and delays, and provide access to regulatory information and databases to facilitate trade for importers and exporters operating in multiple countries. A demo then shows how the software can be used to manage product details, classifications, licenses and documentation for international shipments.
The document discusses drivers prompting financial executives to review company assets. It identifies factors like M&A activities, cost cutting measures, and inefficiencies in manual processes. The document then outlines the acquire-to-retire life cycle and key processes involved, including pre-acquisition, acquisition, monitoring and tracking, and reporting. It notes processes require significant data collection and manual intervention due to multiple sources and lack of automation.
The document outlines various trade facilitation initiatives undertaken by different ministries and departments in India to improve logistics for export-import activities. It provides details of over 130 initiatives across 8 line ministries, including 60 initiatives by the Ministry of Commerce and Industry. Key initiatives by the customs department include faceless assessment, eSANCHIT for electronic document submission, and ICEDASH for monitoring customs clearance times. The Ministry of Ports, Shipping and Waterways has undertaken initiatives such as gate automation at ports using RFID, increasing non-intrusive inspection technologies, and implementing the Major Ports Authorities Bill to provide more autonomy to ports.
The document discusses how an industrial manufacturing company implemented various analytics projects to enhance their internal audit process, including establishing a data mart, developing computer-assisted audit tools and techniques (CAATTs) to automate testing of purchasing and payables transactions, and analyzing areas like duplicate payments, suspicious vendors, and payments made on weekends. The analytics projects helped the company more efficiently monitor risks, detect control issues, and focus audit resources on exception areas.
Managing and Solving Production Based Customer Complaints and ConcernsIBS America
This document discusses managing production complaints and concerns. It outlines the typical situation of having no central database to capture issues from different sources. It presents the future state of having a common repository for all complaints with standardized data and links to other systems. The presentation then demonstrates the IBS quality management solution, showing how it can handle different types of complaints and provide reporting benefits.
This presentation covers the types of audit, its practical implications, tools for conducting audits, how to plan an audit, and what the outcomes of audit planning and finally how to execute an audit.
The Madras Chamber of Commerce & Industry (MCCI) is a 179-year-old organization that provides services to support trade and industry. MCCI offers businesses networking opportunities, information dissemination, arbitration services, and learning programs. Companies, professional firms, banks, and industrial associations can become members of MCCI. Membership provides benefits like access to MCCI communications and events, voting rights, and participation in expert committees.
The document provides the first report of the Tax Administration Reform Commission (TARC) in India. Some key highlights:
1. TARC was constituted to recommend reforms exclusively in tax administration and review application of tax policies and laws in context of global best practices.
2. The report covers organizational structure, business processes, dispute resolution, and taxpayer services as priority areas for reform based on TARC's mandate.
3. In developing recommendations, TARC consulted stakeholders including tax boards, field offices, taxpayers, and industry associations to understand experiences and expectations.
4. Key findings indicate tax administration reforms have been lacking in India despite policy reforms. Previous restructurings focused more on revenue collection than fundamental reforms
This document discusses sustainability challenges and solutions for tannery clusters in India. It outlines an Integrated Management System model to help tanneries meet environmental standards. Key challenges include adhering to regulations on wastewater quality. The document then details opportunities to reduce water consumption in tannery operations from 50 liters per square foot to 30 liters. It provides examples of effluent management practices such as establishing a zero liquid discharge process involving conventional treatment, reverse osmosis, and evaporation to treat and recycle all wastewater. Finally, the document describes the process used at a common effluent treatment plant to treat tannery wastewater before reuse.
Socio ecological dimensions of freshwater-ms jayshreemcci175
Only 3% of the water on Earth is freshwater, and of that only 1% is available for human use. Wastewater management is not just about compliance but has fundamental responsibilities for sustaining life on Earth. An effective freshwater management approach requires going beyond a human-centric view to consider the wider landscape, watershed, and habitats. One example is the Michelin case study where the green belt was reoriented for landscape restoration with native species and bioindicators to ensure sustainable water availability.
Madras chamber industrialwater091113 pranab kumar majumdarmcci175
India has only 4% of the world's water resources but 16% of the global population, resulting in challenges for industrial water management. Current industrial water use is about 13% of total fresh water withdrawn and is projected to grow 4% annually. There is rampant water use and waste water disposal, exacerbated by a lack of enforcement of policies. Multiple government bodies regulate different aspects of water management but there is insufficient coordination between them. This has led to overuse of water resources, severe water pollution, and depletion of groundwater supplies. Solutions proposed include implementing aquifer policies, emphasizing recycling and reuse through regulations and incentives, exploring desalination, and improving coordination among ministries and regulators.
Emerging trends in waste water treatment 9.11.2013 n.s venkat ramanmcci175
This document discusses emerging trends in waste water treatment practices, including converting effluents into value-added products rather than just treating them. It provides several case studies on technologies that reduce or eliminate waste, such as a titanium dioxide process that operates on a zero discharge basis and technologies being developed to convert carbon dioxide into useful products. The document also discusses technologies for using waste materials like municipal waste, copper slag, and phospho-gypsum in cement production and describes processes developed to reduce water usage in denim processing and generate biohydrogen from waste.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive function. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
The document provides information about electricity markets in India. It discusses the segmentation of long, medium, and short-term power markets. It then describes the Indian Power Exchange (IEX) and its key products like the day-ahead market. The IEX day-ahead market operates through a closed double-sided auction and uses uniform-price auction to calculate prices. The IEX also manages risks through margin requirements and implements congestion management when transmission constraints arise between regions.
This document discusses electricity tariff models and the way forward for the power sector in India. It outlines three main tariff models: cost of service regulation, incentive regulation using price caps, and a hybrid model. It notes the advantages and disadvantages of each approach. The document then discusses issues around taking distribution companies towards a more competitive model, including unbundling distribution companies to separate wiring and supply businesses, privatizing distribution company supply functions, and defining the ongoing role of regulators.
- Ramanujan IT City implemented an Energy Management System (EnMS) certified to ISO 50001 to reduce energy costs and emissions.
- Power costs accounted for 78% of operating costs, so EnMS focused on improving energy efficiency.
- The implementation journey included establishing an energy policy, reviewing energy use, setting objectives and action plans, and integrating EnMS into the existing integrated management system.
- Early achievements included benchmarking energy parameters, improving HVAC performance, clarifying roles and responsibilities, and gaining a sales advantage through the focus on energy management.
Ravi kannan handout for mcci workshop 270112mcci175
The document outlines the content covered in 5 modules that address issues related to managing industry, customers, manufacturing, technology, and people. Module 1 discusses topics like organizational structure, cash flow, costs, and motivating employees. Module 2 focuses on understanding customer needs, competition, product improvement, and complaint handling. Module 3 addresses manufacturing planning, problem solving, quality control, and total productive maintenance. Module 4 looks at customer support, product design, material and machine selection, product testing, and certification. Module 5 covers managing personalities, self-management, teamwork, communication, conflicts, and training.
This document outlines the agenda for a workshop on improving employability of technical workers through bridging skill and knowledge gaps. The workshop covers topics like pneumatics, hydraulics, PLCs, tool design, and soft skills. For pneumatics and hydraulics, it will discuss basic principles, elements, symbols, properties, functions, and maintenance. The PLC section addresses components, addressing methods, logic symbols, memory, programming, and troubleshooting. Tool design includes jigs and fixtures, press tools, molds, and die casting dies. Soft skills such as attitude, communication, ethics, and time management are also addressed.
- Input tax credit (ITC) allows registered dealers to claim credit for taxes paid on inputs used for manufacturing or selling goods.
- There are various restrictions and conditions for claiming ITC, including only being able to claim it for goods/services purchased from registered dealers, restrictions on certain capital goods, automobiles, and exempted goods.
- Detailed records including tax invoices must be maintained to substantiate ITC claims which are subject to review and reversal by assessing authorities.
The document announces a discussion meeting on the Tamil Nadu Value Added Tax Act to be held at Hotel Savera in Chennai on February 28, 2012. The meeting will cover topics like computation of VAT liability in works contracts, the composition scheme, TDS procedures, and issues and suggestions for simplification. It will be addressed by Mr. P R Subramaniyan, Head of Indirect Taxes at L&T Construction and Co-Chairman of the Expert Committee on VAT for MCCI.
Cochin Port in India is developing several new facilities and terminals to capitalize on its strategic location. These include an international container transhipment terminal with 1800 meters of quay and 16 meter depth, an LNG terminal and power plant, and expanded facilities to handle growing crude oil and products traffic from a nearby refinery expansion. The port also aims to establish itself as a major bunkering port and develop a cruise terminal, bulk cargo terminal, logistics hub, ship repair yard, and additional hotels and convention centers to capture investment opportunities. Cochin Port believes its location and new infrastructure developments position it well for significant traffic growth.
The document discusses a case involving the sale of shares in offshore holding entities and the tax implications under the India-Mauritius tax treaty. It outlines the complex corporate structure and share transactions, and examines questions around the application of legal doctrines like piercing the corporate veil and the look through principle. The document also considers policy issues around indirect transfers and the role of courts in developing tax policy in the absence of clear legislation.
The document discusses corporate social responsibility and its importance for industry and education. It provides several definitions of CSR, noting it refers to transparent business practices based on ethics, compliance with laws, and respect for people and environment. CSR involves balancing economic, legal, and social/environmental concerns. For businesses, CSR can benefit employee recruitment and retention, innovation, and competitive advantage by managing impacts on people, planet, and profit. Universities also benefit from CSR by developing students as global citizens and partners in sustainable development.
Ravi kannan handout for mcci workshop 270112mcci175
The document outlines the content covered in 5 modules that address issues related to managing industry, customers, manufacturing, technology, and people. Module 1 discusses topics like organizational structure, cash flow, costs, and people management. Module 2 focuses on customer needs, competition, product improvement, and complaint handling. Module 3 addresses manufacturing planning, problem solving, quality control, and total productive maintenance. Module 4 looks at customer support, product design, material and machine selection, product testing, and certification. Module 5 covers personality types, self-management, teamwork, communication, conflict resolution, and skills development.
This document outlines India's Foreign Trade Policy from August 2009 to March 2014. The key objectives of the policy are to achieve an annual export growth rate of 15% for the first two years and 25% for the remaining three years, and to double India's share of global exports. It details various export promotion schemes to incentivize exports such as duty credit scripts under Focus Product and Focus Market schemes. It also covers import duty exemption schemes for technological upgrades like EPCG. The policy aims to enhance India's competitiveness in global trade through these incentives and initiatives.
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Adani Group's Active Interest In Increasing Its Presence in the Cement Manufa...Adani case
Time and again, the business group has taken up new business ventures, each of which has allowed it to expand its horizons further and reach new heights. Even amidst the Adani CBI Investigation, the firm has always focused on improving its cement business.
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Kirill Klip GEM Royalty TNR Gold Lithium Presentation
PPT mr sivarajan bmr
1. Challenge Us
CUSTOMS SELF
ASSESSMENT AND ONSITE
POST CLEARANCE AUDIT
January 31, 2012
All rights reserved | Preliminary & Tentative
K Sivarajan l Director
BMR Advisors
1
2. CONTENTS
Self Assessment
On-site Post Clearance Audit
Authorized Economic
Operator
All rights reserved | Preliminary & Tentative
SELF ASSESSMENT
All rights reserved | Preliminary & Tentative
2
3. SELF ASSESSMENT – TRADE FACILITATION
Trust based Customs Trade Partnership
Assured facilitation for compliant importers/exporters
Trade
Facilitation Control the interdiction in RMS and comprehensively rationalize
various interventions, targets, rules
Reducing pre-clearance checks based on risk parameters in case
of self assessed documents
Facilitation target of 80% for Air Cargo Complexes, 70% for
Seaports and 60% for ICDs to be achieved in short span
Faster Clearance of goods
Reducing dwell time of goods at customs port
All rights reserved | Preliminary & Tentative
Reducing transaction costs of import/export
Self Assessment Manual
Standard Operating Procedures
Compulsory compliance requirements
Key aspects of customs (Classification, valuation, exemption etc)
India Customs Update | 5
SELF ASSESSMENT – KEY ELEMENTS
COMPLETION OF SELF ASSESSMENT
Bill of Entry / Shipping Bill shall be deemed to have been filed and
Self self-assessment of duty completed when, after entry of the
Assessment
electronic declaration in the Indian Customs Electronic Data
Interchange System either through ICEGATE or by way of data
entry through the service centre, a bill of entry number/shipping bill
number is generated by the Indian Customs Electronic Data
Interchange System for the said declaration
All rights reserved | Preliminary & Tentative
India Customs Update | 6
3
4. SELF ASSESSMENT – KEY ELEMENTS
KEY ELEMENTS
Description of goods – brand, grade, specifications etc
Self
Assessment Classification of goods – HSN (amendment from Jan 1, 2012)
Levy of duty/cess – Applicable duties, exemption notifications
(conditional), project imports etc
Valuation of goods
Licensing for imports/exports – Foreign Trade Policy
Benefits under Export Promotion Schemes
Benefits of Free Trade Agreement and country of origin norms
All rights reserved | Preliminary & Tentative
Online filings
GATT Declaration
INTERNAL PROCESSES
CHA capabilities and coordination
Customs / logistic team capabilities
Systems, processes, records maintenance
India Customs Update | 7
SELF ASSESSMENT - PROCESS FLOW
Self assessed BOE
Computerized risk profiling & Risk based intervention / verification
Risks observed by RMS
RMS Facilitated BOE Re-Assessment by Customs
Assessment
accepted
On site Post Clearance Payment of duty
Audit / No O-in-O Assessment
All rights reserved | Preliminary & Tentative
is challenged
Audit Para / Show Investigation by Speaking order
Cause Notice SIIB
Review / Appeal
India Customs Update | 8
4
5. ON-SITE POST
CLEARANCE AUDIT
All rights reserved | Preliminary & Tentative
ON-SITE POST CLEARANCE AUDIT (‘OSPCA’)
To verify completeness and accuracy of assessment claims
based on:
Background Financial data, Commercial data
Logistics and inventory data etc
Statistical analysis of the data – trend, outliers, average
etc
Document based audit for the entity at importer’s location
Operational for ACP clients from October 1, 2011
Audit to be conducted by:
All rights reserved | Preliminary & Tentative
Audit wing of LTU – If registered with LTU
Central Excise Commissionerate – Other Units
OSPCA to be done simultaneously with Central Excise/
Service Tax Audit
Current audit procedure (Excise Audit – 2000) to apply
India Customs Update | 10
5
6. KEY DEFINITIONS UNDER PCA REGULATIONS
Audit
“Audit” means examination of bills of entry, shipping bills, invoices, packing lists, import
licences, books of account, and other records of transaction relating to imported and
export goods, and may include inspection of goods at the premises, if available and
where necessary, drawal of samples
Books of account
“Books of account” includes ledgers, day-books, cash books, account-books and other
accounts whether kept in the written or printed form and data stored on a floppy, disc,
tape or any other form in electro-magnetic data storage device
All rights reserved | Preliminary & Tentative
Premises
“Premises” includes the place at which imported or export goods and connected books of
account, records of transaction and other documents are ordinarily kept by an importer or
exporter, as the case may be, and his registered office or the premises indicated in his
Importer Exporter Code (IEC) issued by the Ministry of Commerce and Industry and the
places wherever the imported or export goods, as the case may be, are ordinarily kept
India Customs Update | 11
CHANGE – AUDIT INFORMATION WINDOW
On site Audit – Expanded Information window
Import information
Financials, book of accounts,
Foreign currency remittance
Import information
Production / Inventory / End Use
Invoice, Packing list
Insurance, Freight,
Product information
Commercial, Transfer Pricing
All rights reserved | Preliminary & Tentative
Other regulatory filings, MIS,
Management books etc
Electronic data – mails, ERP etc
CUSTOMS ASSESSMENT / AUDIT ONSITE AUDIT
Pre April 2011 Post April 2011
India Customs Update | 12
6
7. AUDIT PROCESS
Key Elements
OSPCA at the premises of Importers and Exporters
AUDIT
Minimum 15 days notice for audit
Obtain prior information if required
Visit the premises to gather information, if necessary
Conduct the audit in the premises of the importer/exporter
Inspect the goods if available during Audit
Take samples of goods and copies of relevant documents to verify
correctness of assessment of duty
All rights reserved | Preliminary & Tentative
Audit objections and opportunity
Draft Audit Report
Voluntary payment basis draft audit findings
India Customs Update | 13
AUDIT OBLIGATIONS
Obligations of Importers/exporters for the purpose of Audit
Make available in a timely manner the books of account, records of
Obligations transaction and other relevant documents maintained relating to the
imported or export goods as required by the proper officer
For a period of five years from the date of import/export
Provide true and correct information to the proper officer
Render assistance to the proper officer in the discharge of his
official duty and shall in no case refuse or obstruct the proper officer
in discharge of official duty
Failure to comply with these regulations – Penalty up to INR 50,000
All rights reserved | Preliminary & Tentative
India Customs Update | 14
7
8. AUDIT CAPABILITIES
AUDIT CAPABILITIES
Ability to capture and document classification / valuation and other
Capabilities import related positions taken by the importer at the time of self
assessment
Ability to quickly produce relevant documents at the time of audit
Ability to represent and articulate the tax positions and defend the
self assessment before the audit team. This would mean change in
skill set of importer’s employee responsible for customs audit
Better understanding of the rights and obligations of the importer
and the Customs audit party
Better understanding of customs laws and procedures and ability to
All rights reserved | Preliminary & Tentative
represent the case before the Audit party
Ability to take decisions on accepting or challenging contrary views
of the Customs Audit party
India Customs Update | 15
All rights reserved | Preliminary & Tentative
Challenge Us
8