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K-PAC offers a balanced perspective in trade and commerce primarily covering the following area.
The Indian Indirect Tax environment has enormous multiplicity of laws and are constantly modified through legislative process, improvement through departmental clarification and court judgments.
A compliant process followed by an Organisations is a STRATEGIC ASSET to the company thus enhancing
In the present Self Assessment regime, maintaining accuracy at the time of making declaration to Customs is mandatory. Any mistake can cost an Organisation not only financially but also dent the reputation, recent cases involving several high profile companies for recoveries made been the testimony.
We at K-PAC help you to build an organisation that is in adherence / conformity to regulatory provision in course of Exim, Trade and Supply chain. We will help the core Management Team to critically analyse its operations with an internal process review exercise. Our Team of professions will carry out a detailed internal process review to help your organisation achieve the bandwidth to achieve the high standard in compliance Exim Processes.
Our team will come to your premises and interacted with your team, understand your process, systems and provide a detailed report card to your senior management for steps required to improve the compliance.
Supply Chain Management encompasses every effort involved in producing and delivering a final product or service, from the supplier’s supplier to the customer’s customer.
Supply Chain Management means Planning, Scheduling, and Control of all activities that transform inputs into Finished Goods and Services.
Supply Chain Management is a network of Manufacturers and Service providers that work together to move goods from the raw material stage through to the end user.
ACTIVE MANAGEMENT OF SUPPLY CHAIN ACTIVITIES AND RELATIONSHIPS TO MAXIMIZE CUSTOMER VALUE AND ACHIEVE A SUSTAINABLE COMPETITIVE ADVANTAGE.
Supply Chain Management includes managing supply and demand, sourcing raw Materials and Parts, manufacturing and assembly, warehousing and inventory tracking, order entry and order management, distribution across all channels, and delivery to the customer.
Valuation of Import /Export products in India is governed by Sec 14 of Customs Act and Customs Valuation Rules 2007.
India is signatory with WTO for Customs valuation. However there are considerable intricacies in the Customs Valuation Rule which result in interpretative disputes. During Assessment and Post Assessment K-Pac can help the Trade and Industries to understand the nuances of valuation rules for the followings…
Goods and Service tax, a consumption-based tax, can broadly be seen as Value Added Tax (VAT) covering all levels and both goods and services.
The Structure of GST: The GST will be composed of two rates- Centre GST and Sate GST. The total GST rate will effectively be the sum of the two. The centre GST will be at a uniform rate all over the country. The states will fix their respective rates within a small band of rates. The centre and the states will have concurrent jurisdiction to levy GST on both goods and services.
Impact of GST on Customs
Imports and Exports: Interstate movements of goods and services will be levied IGST which will be equal to CGST plus SGST. The imports will be treated as inter-state supplies and, therefore, will be subjected to a rate equivalent to IGST. However, Customs deal with only goods and not services. There is no customs duty on services. After the introduction of GST, there would be no distinction between the goods or services, as far as GST is concerned.
GST is still at evolving stage. Once Indian Parliament approves the legitimate, thereafter detail of tax structure will be clear to the Trade.
Compliance of Customs Laws have become atmost important under Self-Assessment regime. Any error or act of ignorance at the time of making ‘declaration’ during the process of Import / Export may cause huge damage to an organisation by way of extra payment of Duties, Levy of Fine / Penalties and above all a dent to the reputation of the company. This can result in lower rating in the Customs RMS and also a risk from getting debarred from ‘Accredited Client Programme and AEO Programme.
Further with introduction of arrest provision - Customs & C. Ex. Law in Union Budget 2013-14, accuracy at the time of making declaration has become absolutely essential. Recent cases involving / pertaining to various high profile companies been the testimony of present Indirect Tax regime. 3
Any deviation will lead to levy of fine/penalties and can also result in submission Bond/BGs amounting to millions. This may lead to substantial blockage of funds for the company and add to contigned liability.
K-PAC on Line provides strategic insight to the organisation for managing risk, optimising compliances and helping the organisations to stay current with Indirect Tax Regulations. Our assistance team help the organisation with
You can approach our specialised team on each of the above subject or any challenge faced by giving your details on Web or by sending a mail to
K-pac@k-pac.in, we will revert back for a detailed presentation and discussion.
Handling of Import and Export consignment from origin to destination involves interactions and contracts with various stake holders, such as Courier, Airline/Shipping Line, Forwarder, Transporter, Terminal, Custodian, Customs and Broker etc.
On number of occasions it is observed that Importer or Exporter experience high voltage thunder bolt after import due to irrational charges levied by one of the stake holder in process of supply chain. Delay is also experienced due to lack of specific direction at the time of booking shipment.
K-Pac has worked in various models to restructure existing Supply Chain Module and provided alternate workable solutions for reducing time and cost.
Our Team of professionals can help you in achieving the goal of reducing transition Time & Cost taken for clearance.
Compliance of Customs Laws have become atmost important under Self-Assessment regime. Any error or act of ignorance at the time of making ‘declaration’ during the process of Import / Export may cause huge damage to an organisation by way of extra payment of Duties, Levy of Fine / Penalties and above all a dent to the reputation of the company. This can result in lower rating in the Customs RMS and also a risk from getting debarred from ‘Accredited Client Programme.
Further with introduction of arrest provision - Customs & C. Ex. Law in Union Budget 2013-14, accuracy at the time of making declaration has become absolutely essential. Recent cases involving / pertaining to various high profile companies been the testimony of present Indirect Tax regime. 3
Any deviation will lead to levy of fine/penalties and can also result in submission Bond/BGs amounting to millions. This may lead to substantial blockage of funds for the company and add to contigned liability.
K-PAC provides strategic insight to the organisation for managing risk, optimising compliances and helping the organisations to stay current with Indirect Tax Regulations. Our assistance team help the organisation with
You can approach our specialised team on each of the above subject or any challenge faced by giving your details on Web or by sending a mail to
K-pac@k-pac.in, we will revert back for a detailed presentation and discussion.