What is the Legal Metrology Act, 2009? Legal Metrology refers to the application of legal requirements to weighment, measurement and measuring instruments. Legal Metrology Act, 2009 came into force in India w.e.f. 1st April 2011. It is a single Act and covers the provisions under the Standards of Weights and Measures Act, 1976 and Standards... Continue Reading →
Insolvency Resolution Professional to Conduct CIRP under IBC, 2016
The Insolvency and Bankruptcy Code, 2016 includes a system called the Corporate Insolvency Resolution Process (CIRP) in which an insolvency process is initiated when a corporate debtor fails to make payments to its creditors. Interim Resolution Professional On the day of commencement of insolvency, the adjudicating body selects a person to oversee the entire process. The... Continue Reading →
Method and Benefits of Transfer Pricing Service in India
Any cross-border transaction between two related parties are eligible to transfer pricing provisions in India. The Indian Govt. announced Transfer Pricing Regulation vide Finance Act, 2001. The Transfer Pricing service provide for selecting the most suitable method among the various transfer pricing methods to validate the arm’s length nature of the transactions.
Eligibility and Procedure of AEO Certification
The World Customs Organization's (WCO) SAFe Framework of Standards launched the Authorized Economic Operator (AEO) programme. It was created to protect and facilitate international trade. The program aims to improve international supply chain security and make it easier for genuine commodities to flow. An entity engaging in international trade must be approved as complying with... Continue Reading →
How Outsourcing Accounting & Bookkeeping are beneficial for Companies
Accounting and Bookkeeping services are the most integral part of any type of company or business in India. Bookkeeping is a process where a company needs to track all the records related to income and expenses. Whereas, accounting includes understanding financial records to make an important decision in the business-like turnover, expenses, revenue, etc. Benefits... Continue Reading →
Procedure and Eligibility for Special Valuation Branch Registration
The Special Valuation Branch ("SVB") was created to look at the valuation of products imported from a related overseas source by an Indian party.
10 Key Things to Know About Expat Employee Salary and Their Taxability in India
A person living temporarily for working reasons in a different country other than his country of citizenship is an expat employee. The employee is working in a different country either individually or employed by an employer for a work-related project. Expat Tax professionals at ASC Group assists multinational groups in the mobilization of their resources... Continue Reading →
Advance Pricing Agreement (APA) – Types and Benefits
Advance Pricing Agreement was introduced in India by the Central Board of Direct Taxes in 2012 to minimise the dispute in the transfer pricing structure in India which required the Arm Length Price (ALP) for every international transaction. It was instituted by Finance Act, 2012 by adding section 92CC and 92CD that shall be read... Continue Reading →
Purpose and applicability of AEO Certification in India
Authorized Economic Operator (AEO) is for the purpose to facilitate trade schemes with the objective to ease the business process with respect to international development. AEO Certification was executed in 2011 by Central Board of Indirect Taxes & Customs (CBIC). AEO must comply with the National Customs regulation and is sanctioned by the national organization... Continue Reading →
What is the Importance of due diligence in Mergers & Acquisitions?
Usually, corporations rush into professional engagements without performing any due diligence or without taking a proper review of the corporate organization and significant documents of the company. The process of Merger & acquisition is the most suitable step taken by a company that decides its future. Therefore, proper due diligence of the financial accounts of... Continue Reading →
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