Removal of Members of Monetary Policy Committee 1) The Central Government may remove from office any Member of the Monetary Policy Committee appointed under clause (d) of sub-section (2) of section 45ZB, who— (a) is, or at any time has been, adjudged as an insolvent; or (b) has become physically or mentally incapable […]
Advance Authorisation is issued to allow duty free import of input, which is physically incorporated in export product (making normal allowance for wastage). In addition, fuel, oil, catalyst which is consumed / utilized in the process of production of export product, may also be allowed. Authorisation shall be issued in accordance with the Policy and
The high-low method is ultimately used to identify incurred costs that change from one period to the next and other costs that occur at the same time and rate each period. It compares the highest and lowest levels of activity associated with the total cost for each period. What Is the High-Low Method? In cost accounting,
A contract is an exceptionally important concept in the trade and commerce of any nation. It is a legal agreement between two or more parties mentioning certain obligations which apply to both of them during the contract. It helps improve the Gross domestic product (GDP) and overall growth of a country. Breach of contract means
Finance availed through e-NWR issued by NeRL is expected to increase 33 per cent to ₹4,000 crore this fiscal from ₹3,000 crore last fiscal National e-Repository expects the Government move to allocate ₹1,000 crore towards Credit Guarantee Scheme for e-NWR (electronic-Negotiable Warehouse Receipts) based Pledge Financing to be a game changer in adoption of warehouse
The Government of India levies a Customs Duty on all the imports within and some of the exports from the country. The amount to be paid as customs duty can be determined by several factors such as value, weight, dimensions, etc.‘Customs Duty’ refers to the tax imposed on the goods when they are transported across
The shift from traditional partnerships to Limited Liability Partnerships (LLPs) has increased in recent years. The reason behind this is that LLPs offer more flexibility, unlimited partners and the like. But the real driving force behind the shift is due to the fact that LLPs offer a major advantage in terms of limited liability. The
Ordinarily it takes about 4 to 5 weeks for the refund to be deposited into your account. If not, then make sure you have checked your emails for any intimation received from the Income Tax Department or a Refund Banker (SBI) that the processing of your income tax refund An income tax refund is sanctioned when a taxpayer
Sundry creditors is a term used to describe individuals or businesses that provide goods or services on a credit basis. A business that makes use of this facility and takes goods or services from another business on credit, will refer to the provider of these goods or services as sundry creditors. The concept of sundry
EPF is an ideal retirement fund in which both the employer and the employee contribute an amount equal to 12% each of the employee’s salary (basic and dearness allowance) to the EPF, at fixed equal intervals. However, only the employers that are registered and their employees can contribute to this fund. The interest received on the
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