- FACTORIES ACT’ 1948 (with manpower App.)
- EMPLOYEES PROVIDENT FUND & MISC. PROV. ACT’ 1952
- EMPLOYEES STATE INSURANCE ACT’ 1948
- THE INDUSTRIAL EMPLOYMENT (Standing orders) ACT’ 1946
- PAYMENT OF BONUS ACT’ 1965
- PAYMENT OF MINIMUM WAGES ACT 1948 / PAYMENT OF WAGES ACT 1936
- PAYMENT OF GRATUITY ACT 1972
- WORKMEN’S COMPENSATION ACT’ 1923
- THE EMPLOYMENT EXCHANGE ACT’ 1959
- THE MATERNITY BENEFIT ACT’ 1961
- CONTRACT LABOUR (Regulation and Abolition) ACT’ 1970
- CHILD LABOUR(P&R) ACT
- INDUSTRIAL DISPUTES ACT
- MINIMUM WAGES ACT
- EQUAL REMUNERATION ACT
- TRADE UNIONS ACT
- INTER-STATE MIGRANT WORKMEN ACT
- STATE POLLUTION CONTROL BOARD
- EXPLOSIVE
- SHOP AND ESTABLISHMENT ACT
- WEIGHTS & MEASUREMENT ACT’1976
- ELECTRICAL INSPECTION
- THE APPRENTICES ACT’ 1961
- ENVIRONMENT PROTECTION ACT’1986
BRAND PROTECTION IN INDIA & IN INTERNATIONAL MARKET
TRADE MARK & COPY RIGHT REGISTRATION / INDIA / INTERNATIONAL
You may be owner of Brand in India & your Brand may be registered by any Other Country Manufacturer in other Countries & when you Plan to enter /expand to that Market you see your Brand is Registered by Other Owner & you are in deep Trouble.
In Other words, if you are Exporter & exporting to various Countries your Brand & gradually it is established & your Business Channel Partner of that Country process Trade Mark Registration on their own name without your Knowledge & you are disassociated with Channel partner & They Continue doing Business in your Trade Mark. On taking route to > 90 Countries , your Cost may be > 350000 $ USD but you may save your Time & Reduce cost by > 60 % International Brand Registration in > 90 Countries in < 3 Yrs . Protect your Brand with International Registration route to make entry in Global Market.
INTELLECTUAL PROPERTY RIGHTS & ITS PROTECTION
Protection of Intellectual Property (IP) so generated is necessary to provide security, stimulation and incentives for sustained and enhanced output. Moreover, in the context of ever shortening product life cycles and product differentiation , it is very important to be vigilant about IPR & take necessary action in time for Intellectual Property Rights (IPR).
Corporate advisor can conduct & facilitate for IP registrations & Protection . You may visit below link for IPR guidelines.
IPR -links
GST BILL PASSED IN PARLIAMENT- CONSUMER IS KING, SAYS PM MODI.
Arun Jaitley in Lok Sabha- If one pays tax at one stage, they won’t have to give another tax on that tax component. So tax on tax will be eradicated: Arun Jaitley in Lok Sabha
RATIFICATION
Ratified by more than half of the State Legislatures, as required under Clause (2) of the article.
GST COUNCIL
- GST Council consisting of representatives from the Centre as well as State will be formed within 60 days of the enactment of the Bill. The council will make recommendations to the Union and the States on model Goods & Service Tax laws, the rates including floor rates with bands of goods & service tax, the Place of Supply rules and any other matter relating to GST as the Council may decide Reports of Joint Committee constituted by Empowered Committee of the State Finance Ministers on business processes of payment, registration refund and return under GST have been released and put in public domain for suggestions.
- The draft model GST Law was released and put in public domain in June 2016.
- GST Network, an IT backbone of GST, which will facilitate online registration, tax payment and return filing will be launched.
- States will frame their respective GST Legislations to enable them to implement GST. It will be in line with the Central GST Legislation.
- Administration of GST will be the responsibility of the GST Council, which will be the apex policy making body for GST. Members of GST Council comprised of the Central and State ministers in charge of the finance portfolio.
GOODS AND SERVICES TAX BILL
The Goods and Services Tax Bill or GST Bill, officially known as The Constitution (One Hundred and Twenty-Second Amendment) Bill, 2014, proposes a national Value added Tax to be implemented in India from 1 April 2017.
Goods and Services Tax” would be a comprehensive indirect tax on manufacture, sale and consumption of goods and services throughout India, to replace taxes levied by the central and state governments. Goods and Services Tax would be levied and collected at each stage of sale or purchase of goods or services based on the input tax credit method. This method allows GST-registered businesses to claim tax credit to the value of GST they paid on purchase of goods or services as part of their normal commercial activity. Taxable goods and services are not distinguished from one another and are taxed at a single rate in a supply chain till the goods or services reach the consumer. Administrative responsibility would generally rest with a single authority to levy tax on goods and services. Exports would be zero-rated and imports would be levied the same taxes as domestic goods and services adhering to the destination principle.
GST COUNCIL CONSTITUTED
The Union Cabinet has on 12/09/2016 approved the Constitution of the GST Council. The first meeting of the GST Council is scheduled on 22nd and 23rd September, 2016. The Union Cabinet also decided on the constitution of the GST Secretariat.
The GST Constitution Amendment Act (the Act) provides for notification of different dates for different provisions of the Act. The Government is trying to implement GST by April 1,2017 without loss of time notified that Section 12 of the Act shall come into effect from 12th September,2016.
RECOMMENDATION BEFORE GST
- Current organization capability mapping
- Channel Review & scope of Growth
- Demand & Supply GAP , Pull & Push Strategy
- Supply Chain , Warehousing & Inventory Management
- Cost of Current Operation & comparison from Industry / Best Practices
- Manufacturing to Distribution Logistic Review
TAX-RATE UNDER THE PROPOSED GST
The tax-rate under the proposed GST would reduce , but the number of assesses would increase by 5-6 times. Although rates would come down, tax collection would go up due to increased tax elasticity. The government is working on a special IT platform for smooth implementation of the proposed Goods and Services Tax (GST). The IT special vehicle (SPV) christened as GST N (Network) will be owned by three stakeholders—the centre, the states and the technology partner NSDL, then Central Board of Excise and Customs (CBEC) Chairman S Dutt Majumdar said while addressing a “National Conference on GST”.
- GST would bring in significant change in doing business in India. Optimization of resources , Inventory management , Purchase , Channel of Distribution review, Developing Supply chain Management Process, Sales Process development , Warehousing location and developing IT systems for being GST compliant are the key areas to be ahead of competition.
RECOMMENDATION
Keep watching GST updates with any advisor
Evaluate Indirect Tax Impact on your Goods / Services
Stock Movement unfinished & Finished will be Game Changer to be leader / Follower
MIS format Change
Revisit of IT of your Company / Industry
Statutory Compliance
Process & Policy Revisit & flexibility to change