The Importer Exporter Code (IEC) is a crucial 10-digit identification number issued by India’s Directorate General of Foreign Trade (DGFT). It is mandatory for businesses engaged in importing and exporting goods, serving as a gateway for accessing global markets and facilitating various international trade processes. The IEC is recognized by customs, the Export Promotion Council, […]

MGT 14 is obliged to be furnished through the firm within the registrar of companies (ROC) under sections 94(1) and 117(1) of the companies act 2013 and the rules built in it. But the private companies get privileged from furnishing the board resolutions. The private organizations do not need to furnish MGT 14 for the

Reserves can be classified based on the source of earnings. A revenue reserve is created out of profits generated from the trading activities of a company and a capital reserve is created out of the profits which are capital in nature such as revaluation of assets, write-back of depreciation and amalgamation etc. When a company

It is often said that humans are social animals. Yet there are some aspects of human life that the individual wants to keep to himself or the selected person he wants to share them with. Privacy has been declared one of the essential facets of liberty guaranteed to an individual. The term privacy has been

Transfer pricing is an accounting practice that represents the price that one division in a company charges another division for goods and services provided. Transfer pricing allows for the establishment of prices for the goods and services exchanged between subsidiaries, affiliates, or commonly controlled companies that are part of the same larger enterprise. Transfer pricing can lead to tax

The Chhattisgarh government issues ration cards through the Department of Food and Civil Supplies to provide commodities such as wheat, rice, pulses, sugar, kerosene, etc., at subsidised rates to the residents of Chhattisgarh. Types of Chhattisgarh Ration Card Priority Household (PHH) Ration Card Issued to – The households in rural areas of the state. Benefits – Provides

Accounting today is much more than bookkeeping. Two important aspects of accounting are debit and credit. We must only enter a transaction after understanding the detailed meaning of which account should be debited or credited. When a financial transaction takes place, it affects two accounts, and in the dual entry system of accounting, we have

LIC Mutual Fund was set up by the Life Insurance Corporation of India (LIC), a government-run insurance provider, on 20 April, 1989. Being in the asset management sphere for more than 2 decades, LIC Mutual Fund has managed to carve a name for itself by coupling systematic investment discipline, corporate governance, and a high degree of

Rule 3 of Companies (Cost Audit and Records) Rules 2014 states that both domestic and foreign companies either in regulated or non-regulated sector engaged in production of goods or providing services with overall turnover from its all goods and services of 35 crore rupees or more is required to get the cost audit done compulsorily. Section 148

The Trademarks Act, 1999, provides for the registration of a trademark in India. The owner of the trademark has to apply to the Registrar of Trademarks (‘Registrar’) for obtaining the trademark registration. Upon receiving the application for registration, the Registrar will advertise the trademark in the trademark journal. Any person can file an opposition for registration