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Legal Metrology Act, 2009 establishes standards for weighing and measurements of goods. The focus is on reducing errors and promoting transparency in weighing and measurement practices of the products. Every person who imports or pre-packs any product or commodity as a manufacturer, importer or packer shall obtain registration under the legal metrology act. Benefits of... Continue Reading →
While the physical and chemical properties of plastic made it one of the most useful products for humans, plastics were not welcomed by the nature for the same reasons. Tons of plastic are generated in India every day which if not dealt with properly can lead to a prolonged environmental crisis. Due to environmental concerns,... Continue Reading →
Foreign Exchange Management Act, 1999, herein referred to as FEMA, is the principal legislation governing foreign exchange transactions in India. To ensure compliance and transparency with the FEMA rules and regulations, the government has put in place certain FEMA compliances that a person should follow while dealing in foreign exchange transactions. Here’s a detailed FEMA... Continue Reading →
Purpose & Applicability of Special Valuation Branch (SVB) in Customs Customs duties are levied on the value of goods imported to India. However, these values can be impacted if the overseas supplier and the importer are related persons. These can affect the transaction value and consequently the import duty levied by the customs authorities. Therefore,... Continue Reading →
An expat or expatriate is referred to as an individual who temporarily or permanently resides and/or works in a country other than the country of his citizenship or residence regardless of whether he has relinquished the citizen of his native country or not. As the source of earning is another country, therefore, taxation becomes an... Continue Reading →
The GST law is subject to frequent changes and amendments, as well as the complexity of the system and the wide variety of features that are available on the GST portal, it is extremely important to raise awareness about the system by organising multiple seminars, training sessions, and workshops for a wide variety of users.... Continue Reading →
BIS Certification offer third party guarantee of quality, reliability and safety of products to the customers and is particularly required for import or manufacture of electronic items. BIS Registration was made mandatory by the Indian government 49 products taking into consideration public health. BIS Certification is also allowed to use the ISI hall mark on their... Continue Reading →
Europe is one of the most secure continents in the world for doing business. Europe surely continues to draw foreign investors due to a large amount of domestic demand, advanced technologies, strategic position, and a well-educated workforce. The European Union is a 28-country economic and political union with a well-integrated economic system and rules. Many... Continue Reading →
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 →
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 →
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