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Anonymoushttp://www.blogger.com/profile/14272771674522330898noreply@blogger.comBlogger32125tag:blogger.com,1999:blog-6212789510390375574.post-36813889086793109392019-01-31T14:54:00.001+05:302019-01-31T14:55:14.662+05:30Reliable Forensic Auditing Company in Delhi NCR <div dir="ltr" style="text-align: left;" trbidi="on">
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<div class="separator" style="clear: both; text-align: center;">
<a href="https://vgnc.in/reliable-forensic-auditing-company-in-delhi-ncr/" target="_blank"><img alt="VGNC" border="0" data-original-height="333" data-original-width="594" height="179" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi7LBoH1gYaFi_LgDfdYm7StreFaUftb9dz9gMKwNeH9JxwXxka51SDDqLXI9V1uha1Ikq5qqRX07GJACoPCQk5ZmyHPoWvYn9GKBzNdmRBJOCJ6i3tAhGDRg8wQHwS4ndOFhJrb4U7_Ejf/s320/Forensic+Auditing+Company+in+Delhi+NCR.jpg" width="320" /></a></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-IN">Indian Business dynamics are changing at an
exponential rate. Operating in complex Indian market can become complicated at
any time. <a href="https://vgnc.in/reliable-forensic-auditing-company-in-delhi-ncr/" target="_blank"><b>Forensic auditor in Delhi NCR</b></a> helps your business gather evidence to uncover
the truth in case of issues through systematic auditing methods</span></div>
<div class="MsoNormal">
<span lang="EN-IN"><b><a href="https://vgnc.in/" target="_blank">VGNC</a></b> is a leading <a href="https://vgnc.in/reliable-forensic-auditing-company-in-delhi-ncr/" target="_blank"><b>forensic auditing companyin Delhi NCR</b></a> with requires knowledge and experience to identify and resolve
accounting frauds. We offer investigative and analytical services that are
diligently designed to meet our clients that include law firms, insurance
companies, financial institutions, private companies, equity firms, SMEs,
corporate counsel and startups. </span></div>
<div class="MsoNormal">
<span lang="EN-IN">Our team of forensic accounts and fraud
examination experts have worked with a wide number of clients eliminate any
glitches to function smoothly.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-IN" style="font-size: 14.0pt; line-height: 107%;">How VGNC Helps You?</span></b></div>
<div class="MsoNormal">
<span lang="EN-IN">At VGNC, we have a strong team of trained,
experienced and certified testifiers, computer specialist, fraud examiners,
CAs, data miners, etc. We have <span style="mso-no-proof: yes;">well-defined</span>
and time-tested methods that reflect through every step of our auditing
process. Our team ensures that all auditing steps are carried out according to
the pre-discussed plan to complete the whole process in time. Here are some of
our key forensic auditing services include:</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-IN" style="font-size: 12.0pt; line-height: 107%;">Litigation Services</span></b></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l1 level1 lfo3; text-indent: -.25in;">
<span lang="EN-IN" style="font-family: "symbol"; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-IN">Billing disputes</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l1 level1 lfo3; text-indent: -.25in;">
<span lang="EN-IN" style="font-family: "symbol"; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-IN">Liability disputes</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l1 level1 lfo3; text-indent: -.25in;">
<span lang="EN-IN" style="font-family: "symbol"; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-IN">Insurance disputes</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l1 level1 lfo3; text-indent: -.25in;">
<span lang="EN-IN" style="font-family: "symbol"; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-IN">Securities & shareholder
litigation</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l1 level1 lfo3; text-indent: -.25in;">
<span lang="EN-IN" style="font-family: "symbol"; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-IN">Business operation disputes</span></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l1 level1 lfo3; text-indent: -.25in;">
<span lang="EN-IN" style="font-family: "symbol"; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-IN">Purchase & working capital
price disputes</span></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l1 level1 lfo3; text-indent: -.25in;">
<br /></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-IN" style="font-size: 12.0pt; line-height: 107%;">Bankruptcy Services</span></b></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l2 level1 lfo2; text-indent: -.25in;">
<span lang="EN-IN" style="font-family: "symbol"; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-IN">Fraudulent actions</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l2 level1 lfo2; text-indent: -.25in;">
<span lang="EN-IN" style="font-family: "symbol"; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-IN">Bankruptcy frauds</span></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l2 level1 lfo2; text-indent: -.25in;">
<span lang="EN-IN" style="font-family: "symbol"; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-IN">Preferential payments disputes</span></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l2 level1 lfo2; text-indent: -.25in;">
<br /></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-IN" style="font-size: 12.0pt; line-height: 107%;">Corporate Investigation Services</span></b></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<span lang="EN-IN" style="font-family: "symbol"; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-IN">Asset tracking and
misappropriation</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<span lang="EN-IN" style="font-family: "symbol"; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-IN">Waste and embezzlement</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<span lang="EN-IN" style="font-family: "symbol"; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-IN">Accounting fraud examination</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<span lang="EN-IN" style="font-family: "symbol"; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-IN">Financial statement fraud</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<span lang="EN-IN" style="font-family: "symbol"; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-IN">Regulatory-related
investigations</span></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<span lang="EN-IN" style="font-family: "symbol"; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-IN">Compliance related
investigations</span></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-IN" style="font-size: 12.0pt; line-height: 107%;">Additional Forensic Services</span></b></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-IN" style="font-size: 12.0pt; line-height: 107%;">Forensic Accounting Consultancy &
Advisory Services</span></b></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-IN"> </span><b style="mso-bidi-font-weight: normal;"><span lang="EN-IN" style="font-size: 14.0pt; line-height: 107%;">Why Choose VGNC?</span></b></div>
<div class="MsoNormal">
<span lang="EN-IN">VGNC takes pride in offering customised and
pragmatic solutions to businesses operating in new age market dynamics. We
partner with our clients to support their growth. Here are some forensic
auditing features that <span style="mso-no-proof: yes;">set</span> us apart from
others:</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-IN" style="font-size: 12.0pt; line-height: 107%;">Strong Team</span></b></div>
<div class="MsoNormal">
<span lang="EN-IN">We have trained & experienced team of
experts including best of talents.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-IN" style="font-size: 12.0pt; line-height: 107%;">Competitive Rates</span></b></div>
<div class="MsoNormal">
<span lang="EN-IN">We offer <span style="mso-no-proof: yes;">high-quality</span>
<b><a href="https://vgnc.in/reliable-forensic-auditing-company-in-delhi-ncr/" target="_blank">forensic accounting & auditing services in Delhi NCR</a></b> at a <span style="mso-no-proof: yes;">reasonable</span> cost to provide <span style="mso-no-proof: yes;">you with a</span> competitive edge over your
competitors.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-IN" style="font-size: 12.0pt; line-height: 107%;">Avant Grade Technologies</span></b></div>
<div class="MsoNormal">
<span lang="EN-IN">VGNC has access to latest and efficient
technologies that <span style="mso-no-proof: yes;">ensure</span> delivery of best
forensic auditing and accounting services in Delhi NCR.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal" style="tab-stops: 21.3pt;">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-IN" style="font-size: 12.0pt; line-height: 107%;">Data
Security</span></b></div>
<div class="MsoNormal">
<span lang="EN-IN">VGNC adheres to strict rules and policies
to ensure confidentiality of your data. We ensure that all your information is
completely safe and secure.</span></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="EN-IN" style="font-size: 12.0pt; line-height: 107%;">Quick Turnaround Time</span></b></div>
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<span lang="EN-IN">We have a capable team that can quickly
deliver by uncovering fraud and examine accounts.</span></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="EN-IN" style="font-size: 12.0pt; line-height: 107%;">Robust Customer Support</span></b></div>
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<span lang="EN-IN">We provide quality 24x7 forensic audit
support services to tackle client issues or queries.</span></div>
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<span lang="EN-IN">To know more about our services or start
with one, give us a call today!</span></div>
</div>
Anonymoushttp://www.blogger.com/profile/14272771674522330898noreply@blogger.com0India20.593684 78.962880000000041-8.6041045000000018 37.654286000000042 49.7914725 120.27147400000004tag:blogger.com,1999:blog-6212789510390375574.post-13564459384812670622018-12-07T11:08:00.001+05:302018-12-07T11:08:41.317+05:30Why You Need Forensic Auditing Services for Your Business?<div dir="ltr" style="text-align: left;" trbidi="on">
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Forensic accountants help in detecting misrepresentations, malpractices, errors and frauds in your financial statements through their expertise. While having an in-house <a href="https://vgnc.in/" style="cursor: auto; outline-color: transparent; outline-style: none; outline-width: 0px;">forensic accounting</a> team adds value to your business operations, it is not always a viable option.</div>
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Why?</div>
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Maintaining an in-house team needs a business to spend its financial resources to hire new accountants or train current accountants. Startups and SMEs might not have the budget to do the same. Hiring also limits access to the best talent pool. In such a case, forensic audit services in Delhi NCR can help you get all the benefits of forensic auditing without maintaining an in-house team. Here are a few ways a forensic auditor helps your business:</div>
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<strong style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;">Build Robust Internal Controls</strong></div>
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Policies and procedures that prevent misuse of business resources are called Internal Control. These policies help in restricting unauthorized or illegal operations or functions within your business organization apart from enhancing operational efficiency, protecting cash & assets, and reducing losses.</div>
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<a href="https://vgnc.in/" style="cursor: auto; outline-color: transparent; outline-style: none; outline-width: 0px;">Forensic auditing services in Delhi NCR</a> helps in identification of areas of errors and fraud through forensic analysis. By carrying out a risk assessment, they can recommend where frauds or malpractices can occur and will require advanced controls.</div>
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<strong style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;"><img alt="GST Audit and Accounts services in Delhi NCR" height="320" src="https://vgnc.in/wp-content/uploads/2018/12/fir.jpg" style="height: 500px; max-width: 1000px;" width="640" /></strong></div>
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<strong style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;">Growth and Expansion</strong></div>
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The acquisition is one of the preferred strategies of growth for SMEs and Startups. However, they do not have audited financial accounts to support their growth strategy. Often, tax returns are used to complete the acquisition process. But tax figures might not be completely true due to their efforts of minimizing tax obligations.</div>
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A forensic auditor can help the acquiring enterprise assess whether the target business is worth the value presented in the tax records by tracking down the financial records. Organizations that have trade credit transactions can assess the creditworthiness and liquidity of the debtor with the help of <a href="https://vgnc.in/" style="cursor: auto; outline-color: transparent; outline-style: none; outline-width: 0px;">forensic auditor.</a></div>
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<strong style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;">Detecting Fraud</strong></div>
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The most crucial function of forensic auditing is detecting fraud, misrepresentations and errors. Especially, at times of fraud investigations and litigations. Although you might have an external auditor for yearly audits of your accounts, a forensic auditor can expose lags that affect the operation and performance of your business. A regular forensic auditing will help you discover to identify any types of lapses or frauds earlier through screening and tracking of financial records. By ensuring that your internal operations are healthy, you can carve out your market share.</div>
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<strong style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;">Cost Savings</strong></div>
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<a href="https://vgnc.in/" style="cursor: auto; outline-color: transparent; outline-style: none; outline-width: 0px;">Forensic auditing services in Delhi NCR</a> helps you in saving cost. Hiring a forensic auditor does not require you to spend a lot. The prices are often competitive and lucrative. Apart from that, forensic auditors help you to build a sustainable operational framework by identifying areas of fraud and mishaps.</div>
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By discovering all the irregularities or financial abuses at an early stage, forensic auditing helps in saving your business from a bigger loss. Detection of areas of fraud, errors or misrepresentations helps you to trace all the funds before litigation or fraud investigations which are more expensive. Forensic auditing services assist in the creation of strong internal control and also lower the risk levels further adding to the cost benefits.</div>
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Forensic auditing services not only enhance the value of your financial record but also refine your internal control which supports your organizational growth. <a href="https://vgnc.in/" style="cursor: auto; outline-color: transparent; outline-style: none; outline-width: 0px;">VGNC</a> is a leading <a href="https://vgnc.in/" style="cursor: auto; outline-color: transparent; outline-style: none; outline-width: 0px;">forensic auditing service provider in Delhi NCR.</a></div>
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GST Audit and Accounts services in Delhi NCR<br style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;" />GST Audit and Annual Returns<br style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;" />GST Auditors in Delhi NCR<br style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;" />GST Audit Company in Delhi NCR<br style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;" />Physical Verification of Store and warehouse<br style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;" />Physical Verification of Stock, Delhi NCR<br style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;" />Physical Verification of Fixed Assets, Delhi NCR<br style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;" />Inventory control in Retail Store<br style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;" />Inventory and supply chain consultancy services, Delhi NCR<br style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;" />Audit Firms in Delhi NCR<br style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;" />Retail Supply Chain Audit Services, Delhi NCR<br style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;" />Internal Audit and Financial Advisory Firm, Delhi NCR<br style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;" />Internal Audit and Enterprise Risk Services, Delhi NCR</div>
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Anonymoushttp://www.blogger.com/profile/14272771674522330898noreply@blogger.com0New Delhi, Delhi, India28.6139391 77.20902120000005228.3907261 76.886297700000057 28.8371521 77.531744700000047tag:blogger.com,1999:blog-6212789510390375574.post-33482655511597607582018-11-17T11:13:00.001+05:302018-11-17T11:13:52.574+05:30How Small Retail Businesses Can Reduce Shrinkage: VGNC Tips<div dir="ltr" style="text-align: left;" trbidi="on">
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Inventory shrinkage is one of the major hindrances in the growth of <a href="http://www.vgnc.in/our-services/inventory-supply-chain/" style="cursor: auto; outline-color: transparent; outline-style: none; outline-width: 0px;">small retail businesses</a>. Inventory shrink is the difference between the expected revenue to the actual revenue the retail business makes.</div>
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Now that been said, how can this shrinkage be reduced so that your retail business can achieve its full potential?</div>
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<a href="https://vgnc.in/wp-content/uploads/2018/11/shrinkingshrinkage.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Physical Verification of Store and warehouse" border="0" class="aligncenter" src="https://vgnc.in/wp-content/uploads/2018/11/shrinkingshrinkage.jpg" style="display: block; max-width: 1000px;" /></a></div>
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<a href="https://vgnc.in/wp-content/uploads/2018/11/shrinkingshrinkage.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><br /><br /><br /><br /><br /><br /></a><a href="https://vgnc.in/wp-content/uploads/2018/11/shrinkingshrinkage.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><br /><br /><br /><br /><br /></a><a href="https://vgnc.in/wp-content/uploads/2018/11/shrinkingshrinkage.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /></a>Loss prevention is the next step to reduce shrinkage in the business. However, it requires a lot of precision and expertise in identifying the factors associated with shrinkage and accordingly act upon it.<a href="http://www.vgnc.in/our-services/inventory-supply-chain/" style="cursor: auto; outline-color: transparent; outline-style: none; outline-width: 0px;"><strong style="cursor: auto; outline-color: transparent; outline-style: none; outline-width: 0px;"><br style="cursor: auto; outline-color: transparent; outline-style: none; outline-width: 0px;" /></strong></a></div>
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<strong style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;">Let’s Understand First What Is Shrinkage?</strong></div>
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Shrinkage is the loss of inventory for certain important factors such as administrative error, damage of goods while in transit to the store or in-store damages, shoplifting, employee theft, and even vendor fraud.</div>
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<strong style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;">Identifying the Causes of Shrinkage</strong></div>
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There are various reasons associated with loss. These can be damaged goods during the transit to your store or in-store damages of goods. There can be shoplifting or theft by dishonest employees. It can also be because of fraudulent activities by vendors or suppliers. Then there can be human errors while dealing with cash transactions. There can be pricing errors and also ineffective inventory management.</div>
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<strong style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;">Install Loss Prevention Modules</strong></div>
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Loss prevention modules are a comprehensive approach to deal with various factors associated with retail shrinkage. Moreover, it helps in reducing the overall expenses of the business.</div>
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There are several high-tech loss prevention modules available in the market. And the best ones are loaded with features such as:</div>
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<strong style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;">High-Resolution Camera</strong> – It helps to record the entire process of operations. And, also takes images during low light conditions. This includes body-mounted cameras by the store staff. It is a great tool to keep yourself informed about the happenings at the store.</div>
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<strong style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;">GPS Product Tracking</strong> – It is about tracking the location and movement of a particular product.</div>
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<strong style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;">Use of Biometrics</strong> – It requires fingerprints or retinal scan of a specific person to gain access to a particular section at the store.</div>
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<strong style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;">Smart Shelves</strong> – This feature detects the movement or removal of a product from shelves based on the defines criterions.</div>
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<strong style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;">Integrated Inventory Management (IMS) System</strong></div>
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An IMS system helps in effective operations at the store while helping with a more efficient supply chain process and lowers the inventory management cost. This streamlining of operations ensures a good Return on investment (ROI).</div>
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<strong style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;">Training</strong></div>
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You must train your employees or workers directly working with the inventory to help them aware about the right methods and techniques of handling inventory.</div>
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<strong style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;">Physical Verification of Goods</strong></div>
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Physical audit/verification of goods is an integral part of supply chain management. Let’s check out why it is still relevant in the technologically advanced business environment.</div>
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<strong style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;">Better Control</strong></div>
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Physical counting of inventory at regular intervals helps in detection of theft, loss or error in counting. It also allows you to identify any deterioration or misuse of goods.</div>
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<strong style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;">Improved Planning</strong></div>
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Strategic planning of Reorders and minimum stock level is possible through regular verification of goods.</div>
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<strong style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;">Regulatory Compliance</strong></div>
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Physical audit of goods allows you to comply with the regulatory obligations and other government requirements safeguarding your business from any tax or operational penalty or legal action.</div>
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<strong style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;">Verified Inventory Data </strong></div>
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The scope of error and mistakes are possible even if you are using technology or systems. Physical verification helps you to closes this loop by verifying the data in the books with the actual goods present in your store.</div>
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Regular physical audit helps in minimizing your inventory shrinkage by putting together all your systems. It is also a good way to test the effectiveness of other systems and technology you are using to streamline your inventory. At <a href="http://www.vgnc.in/" style="cursor: auto; outline-color: transparent; outline-style: none; outline-width: 0px;">VGNC</a>, we offer comprehensive <a href="http://www.vgnc.in/our-services/inventory-supply-chain/" style="cursor: auto; outline-color: transparent; outline-style: none; outline-width: 0px;">physical verification services in Delhi NCR</a>. We advance solution allows you to gain better control over your inventory regardless of its location. To know more, call us now!</div>
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<strong style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;"><a href="https://vgnc.in/how-to-maintain-inventory-accuracy-expert-tips-by-vgnc/" style="cursor: auto; outline-color: transparent; outline-style: none; outline-width: 0px;">Note: HOW TO MAINTAIN INVENTORY ACCURACY: EXPERT TIPS BY VGNC</a></strong></div>
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Anonymoushttp://www.blogger.com/profile/14272771674522330898noreply@blogger.com0New Delhi, Delhi, India28.6139391 77.20902120000005228.3907261 76.886297700000057 28.8371521 77.531744700000047tag:blogger.com,1999:blog-6212789510390375574.post-50645232134348958312018-10-31T11:30:00.000+05:302018-10-31T11:40:32.888+05:30Why Your Business Needs GST Audit in FY 2017-18?<div dir="ltr" style="text-align: left;" trbidi="on">
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If you are confused about whether or not to get <a href="https://vgnc.in/input-tax-credit-system-gst-era/" style="cursor: auto; outline-color: transparent; outline-style: none; outline-width: 0px;">G<strong style="cursor: auto; outline-color: transparent; outline-style: none; outline-width: 0px;">ST</strong><strong style="cursor: auto; outline-color: transparent; outline-style: none; outline-width: 0px;"> audit and account services in Delhi NCR</strong></a>, you should. Why? After the implementation of the Goods & Service Tax Act in India, it will be the first financial year of GST for all the businesses. And having gone through the transition period of GST implementation – which was a quite confusing one. You will certainly want to avoid errors while complying with GST. Especially, in the very early year.</div>
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<strong style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;">What Are the Common Errors You Can Make?</strong></div>
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<li style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;">Non-payment/Short Payment of Output liability</li>
<li style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;">The excess claim of Input Tax Credit (ITC)</li>
<li style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;">Non-reversal of Input Claim</li>
<li style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;">failure (willingly/unwillingly) to correctly read, understand, check the applicability, and applying the provisions such as Place of Supply, Time of Supply, taxability of goods & services, payment of respective taxes (IGST, CGST, SGST)</li>
<li style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;">matching of Electronic Cash & Credit ledger with the books</li>
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These some of the common errors that can have big financial impacts on our business and its operation. The occurrence such errors can cause payment of Penalties and interest under the GST Act.</div>
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<strong style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;">Why Should You Conduct a GST Audit?</strong></div>
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Having mentioned the errors, let’s talk about how can <a href="https://vgnc.in/impact-gst-rentals-immovable-property/" style="cursor: auto; outline-color: transparent; outline-style: none; outline-width: 0px;"><strong style="cursor: auto; outline-color: transparent; outline-style: none; outline-width: 0px;">GST audit and annual returns</strong></a> help you?</div>
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GST audit helps in the identification of any errors in the records, operation or process. Detecting the error in advance allows you to correct or remove them on time. This helps in saving business enterprises from heavy penalties and interests. GST Audit, similar to other forms of the audit, is undertaken to check if:</div>
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Ø Business Accounts are complying with the applicable laws & rules or not</div>
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Ø Any shortcomings or leakages can be identified on time and can be corrected currently or reduced in future</div>
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Ø Have a clear picture of the business in respect to GST</div>
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Ø Decide future plans and actions</div>
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Ø Any deviation from the laws can be identified and rectified within time to avoid penalty.</div>
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Within the scope of GST Act, an audit can help your business to detect errors and mistakes providing the opportunity to rectify them. You can be careful in the preparation of accounts and filing of the return as the shortcomings are timely detected.</div>
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<strong style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;">When makes Audit Compulsory under GST Act</strong></div>
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<li style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;">An audit by a CA / CMA is compulsory if your turnover exceeds Rs. 2 Crores</li>
<li style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;">Regular Audit by the Commissioner</li>
<li style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;">Special Audit by CA / CMA on orders of Commissioner</li>
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Often small businesses and start-ups take the matter into their hand relying on online material for tax compliance. But this can be costlier than being cost effective. If your business faces a penalty or fine, it can heavily impact your operations.</div>
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A <strong style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;">GST audit company in Delhi NCR</strong> helps you file your GST in the right manner while reducing the errors and mistakes. In conclusion, <a href="https://vgnc.in/impact-gst-construction-industry-real-estate/" style="cursor: auto; outline-color: transparent; outline-style: none; outline-width: 0px;"><strong style="cursor: auto; outline-color: transparent; outline-style: none; outline-width: 0px;">GST auditors in Delhi NCR</strong></a> can help your business avoid penalties.</div>
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<a href="https://vgnc.in/role-gst-renewed-work-contracts-rental-income-correlating-supply-rules-work-contracts-gst-regime/" style="cursor: auto; outline-color: transparent; outline-style: none; outline-width: 0px;"><strong style="cursor: auto; outline-color: transparent; outline-style: none; outline-width: 0px;">Note: “ROLE OF GST IN RENEWED WORK CONTRACTS AND RENTAL INCOME + CORRELATING SUPPLY RULES AND WORK CONTRACTS UNDER GST REGIME”</strong></a></div>
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Anonymoushttp://www.blogger.com/profile/14272771674522330898noreply@blogger.com0Delhi, India28.7040592 77.1024901999999228.2581432 76.457043199999916 29.1499752 77.747937199999924tag:blogger.com,1999:blog-6212789510390375574.post-56822790138434570032018-09-20T11:57:00.001+05:302018-09-20T12:03:59.610+05:30Strategies to Make Internal Audit a Success for Your Company<div dir="ltr" style="text-align: left;" trbidi="on">
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Why do most successful businesses perform internal audits for statutory compliance?</div>
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Yes, to an extent but internal audit serves beyond just helping you to comply with taxes and other regulations. <a href="https://vgnc.in/our-services/assurance-advisory/internal-audit-firms/" style="background-attachment: scroll; background-clip: border-box; background-color: transparent; background-image: none; background-origin: padding-box; background-position-x: 0%; background-position-y: 0%; background-repeat: repeat; background-size: auto; border-bottom-color: rgb(204, 40, 29); border-bottom-style: none; border-bottom-width: 0px; border-image-outset: 0; border-image-repeat: stretch; border-image-slice: 100%; border-image-source: none; border-image-width: 1; border-left-color: rgb(204, 40, 29); border-left-style: none; border-left-width: 0px; border-right-color: rgb(204, 40, 29); border-right-style: none; border-right-width: 0px; border-top-color: rgb(204, 40, 29); border-top-style: none; border-top-width: 0px; box-sizing: border-box; color: #cc281d; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: invert; outline-style: none; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-decoration: none; text-shadow: none; transition-delay: 0s; transition-duration: 0.15s; transition-property: color; transition-timing-function: cubic-bezier(0.42, 0, 0.58, 1); vertical-align: baseline;">Internal Audit process</a> helps you to keep your system effective and compliant. Internal audit service providers in Delhi focus on developing a strategic process that drives your business towards continuous improvement by identifying issues which hinder the growth and smooth operation of your business enterprise.</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjwDMiQrw4GYI-RXDthxPK5nZqWJBkCPZPLPDUaMXVEkwcFaTHF9K_-YvcJKAyIU0EtFc2iawFttrgG1en_U10Q8rPkjYxPTV0b3xPByO-MM5_8jXgpumXwMq7zDQSWTRWSE9BOBQs5byNV/s1600/recruitment-costs.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="500" data-original-width="750" height="426" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjwDMiQrw4GYI-RXDthxPK5nZqWJBkCPZPLPDUaMXVEkwcFaTHF9K_-YvcJKAyIU0EtFc2iawFttrgG1en_U10Q8rPkjYxPTV0b3xPByO-MM5_8jXgpumXwMq7zDQSWTRWSE9BOBQs5byNV/s640/recruitment-costs.jpg" width="640" /></a></div>
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As an <a href="https://vgnc.in/our-services/assurance-advisory/internal-audit-firms/" style="background-attachment: scroll; background-clip: border-box; background-color: transparent; background-image: none; background-origin: padding-box; background-position-x: 0%; background-position-y: 0%; background-repeat: repeat; background-size: auto; border-bottom-color: rgb(204, 40, 29); border-bottom-style: none; border-bottom-width: 0px; border-image-outset: 0; border-image-repeat: stretch; border-image-slice: 100%; border-image-source: none; border-image-width: 1; border-left-color: rgb(204, 40, 29); border-left-style: none; border-left-width: 0px; border-right-color: rgb(204, 40, 29); border-right-style: none; border-right-width: 0px; border-top-color: rgb(204, 40, 29); border-top-style: none; border-top-width: 0px; box-sizing: border-box; color: #cc281d; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: invert; outline-style: none; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-decoration: none; text-shadow: none; transition-delay: 0s; transition-duration: 0.15s; transition-property: color; transition-timing-function: cubic-bezier(0.42, 0, 0.58, 1); vertical-align: baseline;">internal audit</a> is an opportunity for your business to take one step back and scrutinise their operations and functions, it is crucial that you make efforts to make your internal audit a success. Here are some tips that will help you do so:</div>
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<li style="background-attachment: scroll; background-clip: border-box; background-color: transparent; background-image: none; background-origin: padding-box; background-position-x: 0%; background-position-y: 0%; background-repeat: repeat; background-size: auto; border-bottom-color: rgb(51, 51, 51); border-bottom-style: none; border-bottom-width: 0px; border-image-outset: 0; border-image-repeat: stretch; border-image-slice: 100%; border-image-source: none; border-image-width: 1; border-left-color: rgb(51, 51, 51); border-left-style: none; border-left-width: 0px; border-right-color: rgb(51, 51, 51); border-right-style: none; border-right-width: 0px; border-top-color: rgb(51, 51, 51); border-top-style: none; border-top-width: 0px; box-sizing: border-box; color: #333333; list-style-image: none; list-style-position: outside; list-style-type: decimal; margin-bottom: 10px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: invert; outline-style: none; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-shadow: none; vertical-align: baseline;"><strong style="background-attachment: scroll; background-clip: border-box; background-color: transparent; background-image: none; background-origin: padding-box; background-position-x: 0%; background-position-y: 0%; background-repeat: repeat; background-size: auto; border-bottom-color: rgb(51, 51, 51); border-bottom-style: none; border-bottom-width: 0px; border-image-outset: 0; border-image-repeat: stretch; border-image-slice: 100%; border-image-source: none; border-image-width: 1; border-left-color: rgb(51, 51, 51); border-left-style: none; border-left-width: 0px; border-right-color: rgb(51, 51, 51); border-right-style: none; border-right-width: 0px; border-top-color: rgb(51, 51, 51); border-top-style: none; border-top-width: 0px; box-sizing: border-box; color: #333333; font-weight: 700; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: invert; outline-style: none; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-shadow: none; vertical-align: baseline;">Start with a Good Design</strong></li>
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Internal audit is similar to quality management of your products & services – a good design leads to high quality. When you are performing internal audits, it is essential that you plan and prepare the right grounds to ensure quality.</div>
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You need to focus on creating a good design or roadmap for the audit process to make it effective. A sound audit process helps you to comply with all the legal and regulatory requirements. A quality audit system shuts the open loop of issues with regular management feedback and corrective actions.</div>
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<li style="background-attachment: scroll; background-clip: border-box; background-color: transparent; background-image: none; background-origin: padding-box; background-position-x: 0%; background-position-y: 0%; background-repeat: repeat; background-size: auto; border-bottom-color: rgb(51, 51, 51); border-bottom-style: none; border-bottom-width: 0px; border-image-outset: 0; border-image-repeat: stretch; border-image-slice: 100%; border-image-source: none; border-image-width: 1; border-left-color: rgb(51, 51, 51); border-left-style: none; border-left-width: 0px; border-right-color: rgb(51, 51, 51); border-right-style: none; border-right-width: 0px; border-top-color: rgb(51, 51, 51); border-top-style: none; border-top-width: 0px; box-sizing: border-box; color: #333333; list-style-image: none; list-style-position: outside; list-style-type: decimal; margin-bottom: 10px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: invert; outline-style: none; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-shadow: none; vertical-align: baseline;"><strong style="background-attachment: scroll; background-clip: border-box; background-color: transparent; background-image: none; background-origin: padding-box; background-position-x: 0%; background-position-y: 0%; background-repeat: repeat; background-size: auto; border-bottom-color: rgb(51, 51, 51); border-bottom-style: none; border-bottom-width: 0px; border-image-outset: 0; border-image-repeat: stretch; border-image-slice: 100%; border-image-source: none; border-image-width: 1; border-left-color: rgb(51, 51, 51); border-left-style: none; border-left-width: 0px; border-right-color: rgb(51, 51, 51); border-right-style: none; border-right-width: 0px; border-top-color: rgb(51, 51, 51); border-top-style: none; border-top-width: 0px; box-sizing: border-box; color: #333333; font-weight: 700; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: invert; outline-style: none; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-shadow: none; vertical-align: baseline;">Build a Schedule</strong></li>
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Generally, the audit is considered to be an annual affair. But this is not true. According to experts at VGNC, your organisation should schedule audits for each product and process depending on risk and priority. If you analyse your business operations and products well, you can build the right schedule that matches your needs.</div>
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<li style="background-attachment: scroll; background-clip: border-box; background-color: transparent; background-image: none; background-origin: padding-box; background-position-x: 0%; background-position-y: 0%; background-repeat: repeat; background-size: auto; border-bottom-color: rgb(51, 51, 51); border-bottom-style: none; border-bottom-width: 0px; border-image-outset: 0; border-image-repeat: stretch; border-image-slice: 100%; border-image-source: none; border-image-width: 1; border-left-color: rgb(51, 51, 51); border-left-style: none; border-left-width: 0px; border-right-color: rgb(51, 51, 51); border-right-style: none; border-right-width: 0px; border-top-color: rgb(51, 51, 51); border-top-style: none; border-top-width: 0px; box-sizing: border-box; color: #333333; list-style-image: none; list-style-position: outside; list-style-type: decimal; margin-bottom: 10px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: invert; outline-style: none; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-shadow: none; vertical-align: baseline;"><strong style="background-attachment: scroll; background-clip: border-box; background-color: transparent; background-image: none; background-origin: padding-box; background-position-x: 0%; background-position-y: 0%; background-repeat: repeat; background-size: auto; border-bottom-color: rgb(51, 51, 51); border-bottom-style: none; border-bottom-width: 0px; border-image-outset: 0; border-image-repeat: stretch; border-image-slice: 100%; border-image-source: none; border-image-width: 1; border-left-color: rgb(51, 51, 51); border-left-style: none; border-left-width: 0px; border-right-color: rgb(51, 51, 51); border-right-style: none; border-right-width: 0px; border-top-color: rgb(51, 51, 51); border-top-style: none; border-top-width: 0px; box-sizing: border-box; color: #333333; font-weight: 700; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: invert; outline-style: none; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-shadow: none; vertical-align: baseline;">Skilled Team is the Key</strong></li>
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Choosing internal auditors is not easy. Apart from having professional expertise, extensive experience and practical knowledge about the industry, there are certain characteristics a good auditor must have. These characteristics include honesty, flexibility, decisiveness, observant, ethical and pragmatic. You can save up the training and recruitment cost of a team by hiring an internal audit firm in Delhi.</div>
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<li style="background-attachment: scroll; background-clip: border-box; background-color: transparent; background-image: none; background-origin: padding-box; background-position-x: 0%; background-position-y: 0%; background-repeat: repeat; background-size: auto; border-bottom-color: rgb(51, 51, 51); border-bottom-style: none; border-bottom-width: 0px; border-image-outset: 0; border-image-repeat: stretch; border-image-slice: 100%; border-image-source: none; border-image-width: 1; border-left-color: rgb(51, 51, 51); border-left-style: none; border-left-width: 0px; border-right-color: rgb(51, 51, 51); border-right-style: none; border-right-width: 0px; border-top-color: rgb(51, 51, 51); border-top-style: none; border-top-width: 0px; box-sizing: border-box; color: #333333; list-style-image: none; list-style-position: outside; list-style-type: decimal; margin-bottom: 10px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: invert; outline-style: none; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-shadow: none; vertical-align: baseline;"><strong style="background-attachment: scroll; background-clip: border-box; background-color: transparent; background-image: none; background-origin: padding-box; background-position-x: 0%; background-position-y: 0%; background-repeat: repeat; background-size: auto; border-bottom-color: rgb(51, 51, 51); border-bottom-style: none; border-bottom-width: 0px; border-image-outset: 0; border-image-repeat: stretch; border-image-slice: 100%; border-image-source: none; border-image-width: 1; border-left-color: rgb(51, 51, 51); border-left-style: none; border-left-width: 0px; border-right-color: rgb(51, 51, 51); border-right-style: none; border-right-width: 0px; border-top-color: rgb(51, 51, 51); border-top-style: none; border-top-width: 0px; box-sizing: border-box; color: #333333; font-weight: 700; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: invert; outline-style: none; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-shadow: none; vertical-align: baseline;">Importance of Independence</strong></li>
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You must conduct your <a href="https://vgnc.in/our-services/assurance-advisory/internal-audit-firms/" style="background-attachment: scroll; background-clip: border-box; background-color: transparent; background-image: none; background-origin: padding-box; background-position-x: 0%; background-position-y: 0%; background-repeat: repeat; background-size: auto; border-bottom-color: rgb(204, 40, 29); border-bottom-style: none; border-bottom-width: 0px; border-image-outset: 0; border-image-repeat: stretch; border-image-slice: 100%; border-image-source: none; border-image-width: 1; border-left-color: rgb(204, 40, 29); border-left-style: none; border-left-width: 0px; border-right-color: rgb(204, 40, 29); border-right-style: none; border-right-width: 0px; border-top-color: rgb(204, 40, 29); border-top-style: none; border-top-width: 0px; box-sizing: border-box; color: #cc281d; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: invert; outline-style: none; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-decoration: none; text-shadow: none; transition-delay: 0s; transition-duration: 0.15s; transition-property: color; transition-timing-function: cubic-bezier(0.42, 0, 0.58, 1); vertical-align: baseline;">internal audit</a> process independently to make it more effective and successful. Independent audit enhances the value of your reporting because professionals involved in it have no direct responsibility and accountability for the processes and operations. As they have no benefits, pressures and answerabilities related to the issues identified, they can provide true and clear results.</div>
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<li style="background-attachment: scroll; background-clip: border-box; background-color: transparent; background-image: none; background-origin: padding-box; background-position-x: 0%; background-position-y: 0%; background-repeat: repeat; background-size: auto; border-bottom-color: rgb(51, 51, 51); border-bottom-style: none; border-bottom-width: 0px; border-image-outset: 0; border-image-repeat: stretch; border-image-slice: 100%; border-image-source: none; border-image-width: 1; border-left-color: rgb(51, 51, 51); border-left-style: none; border-left-width: 0px; border-right-color: rgb(51, 51, 51); border-right-style: none; border-right-width: 0px; border-top-color: rgb(51, 51, 51); border-top-style: none; border-top-width: 0px; box-sizing: border-box; color: #333333; list-style-image: none; list-style-position: outside; list-style-type: decimal; margin-bottom: 10px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: invert; outline-style: none; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-shadow: none; vertical-align: baseline;"><strong style="background-attachment: scroll; background-clip: border-box; background-color: transparent; background-image: none; background-origin: padding-box; background-position-x: 0%; background-position-y: 0%; background-repeat: repeat; background-size: auto; border-bottom-color: rgb(51, 51, 51); border-bottom-style: none; border-bottom-width: 0px; border-image-outset: 0; border-image-repeat: stretch; border-image-slice: 100%; border-image-source: none; border-image-width: 1; border-left-color: rgb(51, 51, 51); border-left-style: none; border-left-width: 0px; border-right-color: rgb(51, 51, 51); border-right-style: none; border-right-width: 0px; border-top-color: rgb(51, 51, 51); border-top-style: none; border-top-width: 0px; box-sizing: border-box; color: #333333; font-weight: 700; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: invert; outline-style: none; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-shadow: none; vertical-align: baseline;">Consistent Reporting </strong></li>
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The previous points help in making identification of trouble spots, opportunities and scopes for improvements. If all these results are not communicated properly in your audit report, the process will still fail to be successful. Audit reports are important for regulatory compliance. It also helps management teams in making decisions. The audit report should be clear, timely and consistent to be effective.</div>
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<div style="-webkit-text-stroke-width: 0px; background-attachment: scroll; background-clip: border-box; background-color: transparent; background-image: none; background-origin: padding-box; background-position-x: 0%; background-position-y: 0%; background-repeat: repeat; background-size: auto; border-bottom-color: rgb(51, 51, 51); border-bottom-style: none; border-bottom-width: 0px; border-image-outset: 0; border-image-repeat: stretch; border-image-slice: 100%; border-image-source: none; border-image-width: 1; border-left-color: rgb(51, 51, 51); border-left-style: none; border-left-width: 0px; border-right-color: rgb(51, 51, 51); border-right-style: none; border-right-width: 0px; border-top-color: rgb(51, 51, 51); border-top-style: none; border-top-width: 0px; box-sizing: border-box; color: #333333; font-family: Arial,Helvetica,sans-serif,Arial,Helvetica,sans-serif; font-size: 15px; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; margin-bottom: 20px; margin-left: 0px; margin-right: 0px; margin-top: 0px; orphans: 2; outline-color: invert; outline-style: none; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; text-decoration: none; text-indent: 0px; text-shadow: none; text-transform: none; vertical-align: baseline; white-space: normal; word-spacing: 0px;">
These are some of the tips that make the internal audit process successful. But firms offering <a href="https://vgnc.in/our-services/assurance-advisory/internal-audit-firms/" style="background-attachment: scroll; background-clip: border-box; background-color: transparent; background-image: none; background-origin: padding-box; background-position-x: 0%; background-position-y: 0%; background-repeat: repeat; background-size: auto; border-bottom-color: rgb(204, 40, 29); border-bottom-style: none; border-bottom-width: 0px; border-image-outset: 0; border-image-repeat: stretch; border-image-slice: 100%; border-image-source: none; border-image-width: 1; border-left-color: rgb(204, 40, 29); border-left-style: none; border-left-width: 0px; border-right-color: rgb(204, 40, 29); border-right-style: none; border-right-width: 0px; border-top-color: rgb(204, 40, 29); border-top-style: none; border-top-width: 0px; box-sizing: border-box; color: #cc281d; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: invert; outline-style: none; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-decoration: none; text-shadow: none; transition-delay: 0s; transition-duration: 0.15s; transition-property: color; transition-timing-function: cubic-bezier(0.42, 0, 0.58, 1); vertical-align: baseline;">internal audit services in Delhi NCR</a> depend on one more factor for successful internal audit process – technology. Manual systems are difficult to manage and use. The audit processes such as scheduling and reporting can be incorporated into integrated systems to remove error and conflicts while adding value to the internal audit process.</div>
<div style="-webkit-text-stroke-width: 0px; background-attachment: scroll; background-clip: border-box; background-color: transparent; background-image: none; background-origin: padding-box; background-position-x: 0%; background-position-y: 0%; background-repeat: repeat; background-size: auto; border-bottom-color: rgb(51, 51, 51); border-bottom-style: none; border-bottom-width: 0px; border-image-outset: 0; border-image-repeat: stretch; border-image-slice: 100%; border-image-source: none; border-image-width: 1; border-left-color: rgb(51, 51, 51); border-left-style: none; border-left-width: 0px; border-right-color: rgb(51, 51, 51); border-right-style: none; border-right-width: 0px; border-top-color: rgb(51, 51, 51); border-top-style: none; border-top-width: 0px; box-sizing: border-box; color: #333333; font-family: Arial,Helvetica,sans-serif,Arial,Helvetica,sans-serif; font-size: 15px; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; margin-bottom: 20px; margin-left: 0px; margin-right: 0px; margin-top: 0px; orphans: 2; outline-color: invert; outline-style: none; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; text-decoration: none; text-indent: 0px; text-shadow: none; text-transform: none; vertical-align: baseline; white-space: normal; word-spacing: 0px;">
For more meet the experts and contact @ 9810666554, 7668010101<br />
Email: info@vgnc.in </div>
<div style="-webkit-text-stroke-width: 0px; background-attachment: scroll; background-clip: border-box; background-color: transparent; background-image: none; background-origin: padding-box; background-position-x: 0%; background-position-y: 0%; background-repeat: repeat; background-size: auto; border-bottom-color: rgb(51, 51, 51); border-bottom-style: none; border-bottom-width: 0px; border-image-outset: 0; border-image-repeat: stretch; border-image-slice: 100%; border-image-source: none; border-image-width: 1; border-left-color: rgb(51, 51, 51); border-left-style: none; border-left-width: 0px; border-right-color: rgb(51, 51, 51); border-right-style: none; border-right-width: 0px; border-top-color: rgb(51, 51, 51); border-top-style: none; border-top-width: 0px; box-sizing: border-box; color: #333333; font-family: Arial,Helvetica,sans-serif,Arial,Helvetica,sans-serif; font-size: 15px; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; margin-bottom: 20px; margin-left: 0px; margin-right: 0px; margin-top: 0px; orphans: 2; outline-color: invert; outline-style: none; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; text-decoration: none; text-indent: 0px; text-shadow: none; text-transform: none; vertical-align: baseline; white-space: normal; word-spacing: 0px;">
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Anonymoushttp://www.blogger.com/profile/14272771674522330898noreply@blogger.com0tag:blogger.com,1999:blog-6212789510390375574.post-16181292683349264652018-08-21T12:54:00.000+05:302018-08-21T13:04:17.362+05:30Ways to Strengthen Internal Audit to Meet Stakeholder’s Needs<div dir="ltr" style="text-align: left;" trbidi="on">
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<span lang="EN-IN" style="margin: 0px;"><span style="font-family: "calibri";"></span></span><br />
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<span lang="EN-IN" style="margin: 0px;"><span style="font-family: "calibri";">
<span lang="EN-IN" style="color: #333333; font-family: "calibri" , sans-serif; margin: 0px;"><a href="https://vgnc.in/our-services/assurance-advisory/internal-audit-firms/"><span style="color: blue;">Internal
Audit</span></a> is one of the critical processes of the businesses. While it helps
stakeholders know the exact place where the business stands, the Internal audit
also helps in the identification of business operations that need improvement
and helps in increasing the revenues its optimisation. </span><span style="color: #333333; font-family: "georgia" , serif; margin: 0px;"></span><br />
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<span style="cursor: text; margin: 0px; outline: transparent 0px;"><span lang="EN-IN" style="color: #333333; font-family: "calibri" , sans-serif; margin: 0px;">But not all businesses are aware of <a href="https://vgnc.in/our-services/assurance-advisory/internal-audit-firms/"><span style="color: blue;">what
impact internal audit has on their business</span></a> especially its relationship
with its stakeholders. Often, the audit report fails to truly represent all the
essential data and list all identifiable risks about a business enterprise. In
such a situation, stakeholders might lose their confidence such reports or the
enterprise itself. As an internal audit is a standard process that helps
management to take their decisions, a weak audit report will result in weak
decision making. </span></span><span style="color: #333333; font-family: "georgia" , serif; margin: 0px;"></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjNxd-UJw_bURazsq5NhNssuIRskIjk2YVmW5eI3iZg4CpKa5ozqEvqVK000OA2xOFDjO8bFPHanhx6cR9VAPqEXLVhRy6wayXL9uQq83gWH5KLBo30k7AotWSO54NXgVBiAjv41QIUgxGf/s1600/hgh.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1082" data-original-width="1202" height="576" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjNxd-UJw_bURazsq5NhNssuIRskIjk2YVmW5eI3iZg4CpKa5ozqEvqVK000OA2xOFDjO8bFPHanhx6cR9VAPqEXLVhRy6wayXL9uQq83gWH5KLBo30k7AotWSO54NXgVBiAjv41QIUgxGf/s640/hgh.jpg" width="640" /></a></div>
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<span style="color: #333333; font-family: "georgia" , serif; margin: 0px;"><a href="https://vgnc.in/our-services/assurance-advisory/internal-audit-firms/" style="cursor: auto; outline-color: transparent; outline-style: none; outline-width: 0px;"><br style="cursor: auto; outline-color: transparent; outline-style: none; outline-width: 0px;" />
<span style="margin: 0px; text-decoration: none;"><span style="margin: 0px;"><span style="color: blue;"></span></span></span></a></span></div>
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<span style="cursor: text; margin: 0px; outline: transparent 0px;"><span lang="EN-IN" style="color: #333333; font-family: "calibri" , sans-serif; margin: 0px;">At <a href="https://vgnc.in/"><span style="color: blue;">VGNC</span></a>,
we believe that your business must focus on strengthening internal audit
process to be aligned to the needs of the stakeholders and to make
well-informed decisions. Here are a few ways you can do so.</span></span><span style="color: #333333; font-family: "georgia" , serif; margin: 0px;"></span></div>
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<div style="-webkit-text-stroke-width: 0px; cursor: text; orphans: 2; outline-color: transparent; outline-style: none; outline-width: 0px; word-spacing: 0px;">
<b style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;"><span style="cursor: text; margin: 0px; outline: transparent 0px;"><span lang="EN-IN" style="color: #333333; font-family: "georgia" , serif; margin: 0px;">Focus on Your Brand</span></span></b><span style="color: #333333; font-family: "georgia" , serif; margin: 0px;"></span></div>
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<div style="-webkit-text-stroke-width: 0px; cursor: text; orphans: 2; outline-color: transparent; outline-style: none; outline-width: 0px; word-spacing: 0px;">
<span style="cursor: text; margin: 0px; outline: transparent 0px;"><span lang="EN-IN" style="color: #333333; font-family: "calibri" , sans-serif; margin: 0px;">If you want your <a href="https://vgnc.in/our-services/assurance-advisory/internal-audit-firms/"><span style="color: blue;">internal
audit</span></a> to create the right impact on your business, you need to tailor it as
per your brand. You are known for your brand. Your internal audit should
reflect your true brand identity as your stakeholders are interested in the
true picture. To influence stakeholders perception about your enterprise, you
need to analyse what your audit reports are conveying them. This will allow you
to tweak your audit report for a better and more correct representation of your
brand. </span></span><span style="color: #333333; font-family: "georgia" , serif; margin: 0px;"></span></div>
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<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhn0gmulZAUphoPMGDbmpXudqNu4Mfal7-mVPFwmw4JMy9DE9F8vf3ccZGU3WBW86gNT8QlX0ETC3-_NcITobTx9nFvKB1JPiUscO9t7HBFJkx0EsGZOhvvlx5HxAqYpAD5gwFLhnLrWAeA/s1600/bbb.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="628" data-original-width="1200" height="334" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhn0gmulZAUphoPMGDbmpXudqNu4Mfal7-mVPFwmw4JMy9DE9F8vf3ccZGU3WBW86gNT8QlX0ETC3-_NcITobTx9nFvKB1JPiUscO9t7HBFJkx0EsGZOhvvlx5HxAqYpAD5gwFLhnLrWAeA/s640/bbb.jpg" width="640" /></a></div>
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<div style="-webkit-text-stroke-width: 0px; cursor: text; margin: 16px 0px; orphans: 2; outline: transparent 0px; word-spacing: 0px;">
<a href="https://vgnc.in/our-services/inventory-supply-chain/" style="cursor: auto; outline-color: transparent; outline-style: none; outline-width: 0px;"><span style="font-family: "georgia" , serif; margin: 0px; text-decoration: none;"><span style="margin: 0px;"></span></span></a><span style="color: #333333; font-family: "georgia" , serif; margin: 0px;"></span></div>
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<div style="-webkit-text-stroke-width: 0px; cursor: text; orphans: 2; outline-color: transparent; outline-style: none; outline-width: 0px; word-spacing: 0px;">
<b style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;"><span style="cursor: text; margin: 0px; outline: transparent 0px;"><span lang="EN-IN" style="color: #333333; font-family: "georgia" , serif; margin: 0px;">End-to-End Risk</span></span></b><span style="color: #333333; font-family: "georgia" , serif; margin: 0px;"></span></div>
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<div style="-webkit-text-stroke-width: 0px; cursor: text; orphans: 2; outline-color: transparent; outline-style: none; outline-width: 0px; word-spacing: 0px;">
<span style="cursor: text; margin: 0px; outline: transparent 0px;"><span lang="EN-IN" style="color: #333333; font-family: "calibri" , sans-serif; margin: 0px;">Internal audit acts as one of the lines
of defence in risk management. <a href="https://vgnc.in/our-services/assurance-advisory/internal-audit-firms/"><span style="color: blue;">Internal
audit assures the effectiveness of risk management</span></a> activities that are
being performed by the enterprise. If the risk management is not strategically
sound, an internal audit helps in re-assessment of the strategies and adoption
of the effective ones. A fragmented risk management strategy creates redundancies
and gaps in the operation and also adds to the cost. It also exposes an
enterprise to unanticipated higher risks.</span></span><span style="color: #333333; font-family: "georgia" , serif; margin: 0px;"></span></div>
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<div style="-webkit-text-stroke-width: 0px; cursor: text; orphans: 2; outline-color: transparent; outline-style: none; outline-width: 0px; word-spacing: 0px;">
<b style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;"><span style="cursor: text; margin: 0px; outline: transparent 0px;"><span lang="EN-IN" style="color: #333333; font-family: "georgia" , serif; margin: 0px;">Skills and Capabilities</span></span></b><span style="color: #333333; font-family: "georgia" , serif; margin: 0px;"></span></div>
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</div>
<div style="-webkit-text-stroke-width: 0px; cursor: text; orphans: 2; outline-color: transparent; outline-style: none; outline-width: 0px; word-spacing: 0px;">
<span style="cursor: text; margin: 0px; outline: transparent 0px;"><span lang="EN-IN" style="color: #333333; font-family: "calibri" , sans-serif; margin: 0px;">A weak <a href="https://vgnc.in/our-services/assurance-advisory/internal-audit-firms/"><span style="color: blue;">internal
audit system</span></a> is a creation of a lack of adequate skills and capabilities.
This deficit of skill is one of the root factors that limit the impact of audit
procedures. Internal audit strategies should evolve over time to incorporate
the growing needs of the business.</span></span><span style="color: #333333; font-family: "georgia" , serif; margin: 0px;"></span></div>
<div style="margin: 0px 0px 10.66px;">
</div>
<div style="-webkit-text-stroke-width: 0px; cursor: text; orphans: 2; outline-color: transparent; outline-style: none; outline-width: 0px; word-spacing: 0px;">
<b style="cursor: text; outline-color: transparent; outline-style: none; outline-width: 0px;"><span style="cursor: text; margin: 0px; outline: transparent 0px;"><span lang="EN-IN" style="color: #333333; font-family: "georgia" , serif; margin: 0px;">Review and Analytical Strategies</span></span></b><span style="color: #333333; font-family: "georgia" , serif; margin: 0px;"></span></div>
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</div>
<div style="-webkit-text-stroke-width: 0px; cursor: text; orphans: 2; outline-color: transparent; outline-style: none; outline-width: 0px; word-spacing: 0px;">
<span style="cursor: text; margin: 0px; outline: transparent 0px;"><span lang="EN-IN" style="color: #333333; font-family: "calibri" , sans-serif; margin: 0px;">If you want to add value to your audit
reports and enhance the impact of your internal audit on your business and its
stakeholders, you need to leverage the analytics capabilities every area of
your business. This will help you to identify cost erosion and will lead to
cost savings through effective and stakeholder-targeted audits.</span></span><span style="color: #333333; font-family: "georgia" , serif; margin: 0px;"></span></div>
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<div style="-webkit-text-stroke-width: 0px; cursor: text; orphans: 2; outline-color: transparent; outline-style: none; outline-width: 0px; word-spacing: 0px;">
<span style="cursor: text; margin: 0px; outline: transparent 0px;"><span lang="EN-IN" style="color: #333333; font-family: "calibri" , sans-serif; margin: 0px;">When the audit process starts to
improve, it helps in saving cost and time. It also facilitates better risk
management and compliance. A strong internal audit process improves the
decision-making process. By aligning your internal audit vision and strategy
with the strategic vision of your enterprise and stakeholders, you can magnify
the influence and value to the internal audit function.</span></span><span style="color: #333333; font-family: "georgia" , serif; margin: 0px;"></span></div>
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<colgroup><col style="mso-width-alt: 21540; mso-width-source: userset; width: 442pt;" width="589"></col>
</colgroup><tbody>
<tr height="60" style="height: 45.0pt;">
<td height="60" style="background-color: transparent; border: 0px rgb(0, 0, 0); height: 45pt; margin: 0px; width: 442pt;" width="589"><table border="0" cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 589px;">
<colgroup><col style="mso-width-alt: 21540; mso-width-source: userset; width: 442pt;" width="589"></col>
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<tr height="56" style="height: 42.0pt; mso-height-source: userset;">
<td height="56" style="background-color: transparent; border: 0px rgb(0, 0, 0); height: 42pt; margin: 0px; width: 442pt;" width="589">Audit
Firms in Delhi NCR</td></tr>
<tr height="21" style="height: 15.75pt;"><td height="21" style="background-color: transparent; border: 0px rgb(0, 0, 0); height: 15.75pt; margin: 0px;">Retail Supply Chain Audit
Services, Delhi NCR</td>
</tr>
<tr height="21" style="height: 15.75pt;">
<td height="21" style="background-color: transparent; border: 0px rgb(34, 34, 34); height: 15.75pt; margin: 0px;"><span style="color: #222222;">Internal Audit and Financial
Advisory Firm, Delhi NCR</span></td>
</tr>
<tr height="21" style="height: 15.75pt;">
<td height="21" style="background-color: white; border: 0px rgb(0, 0, 0); height: 15.75pt; margin: 0px;">Internal Audit and Enterprise
Risk Services, Delhi NCR</td>
</tr>
</tbody></table>
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Anonymoushttp://www.blogger.com/profile/14272771674522330898noreply@blogger.com0tag:blogger.com,1999:blog-6212789510390375574.post-43199938624357145582018-08-01T15:17:00.000+05:302018-08-01T15:17:04.716+05:30How to Maintain Inventory Accuracy: Expert Tips by VGNC<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="color: #333333; font-family: "Georgia",serif; font-size: 12pt; margin: 0px;">Inventory, physical supplies sold, used
or distributed, are one of the most valuable assets for your business. And to
keep your business operations running smoothly, you need to track this critical
component. Irrespective of the inventory tracking system you use, the accuracy
of your inventory is crucial for the success of your business.</span></div>
<br />
<div style="line-height: normal; margin: 0px 0px 10.66px;">
<span style="color: #333333; font-family: "Georgia",serif; font-size: 12pt; margin: 0px;">In this article, our experts at <a href="https://vgnc.in/"><span style="color: blue; margin: 0px;">VGNC</span></a> will discuss
some tips that will help you maintain accurate inventory.</span></div>
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<div style="line-height: normal; margin: 0px 0px 10.66px;">
<b><span style="color: #333333; font-family: "Georgia",serif; font-size: 12pt; margin: 0px;">Choose The Right Quality Program</span></b><span style="color: #333333; font-family: "Georgia",serif; font-size: 12pt; margin: 0px;"><br />
There are a wide number of <a href="https://vgnc.in/our-services/inventory-supply-chain/"><span style="color: blue; margin: 0px;">inventory quality programs</span></a> such as ISO, Six
Sigma, quality management, etc. You need to choose the quality program for your
business efficiently. After you have selected the quality program, you need to
ensure that everyone in the company understands and supports the program.</span></div>
<br />
<div style="line-height: normal; margin: 0px 0px 10.66px;">
<b><span style="color: #333333; font-family: "Georgia",serif; font-size: 12pt; margin: 0px;">Select The <a href="https://vgnc.in/our-services/inventory-supply-chain/"><span style="color: blue; margin: 0px;">Right Inventory Monitoring Method</span></a></span></b><span style="color: #333333; font-family: "Georgia",serif; font-size: 12pt; margin: 0px;"><br />
If you want to achieve accuracy in your inventory, you need to focus on
selection and implementation of inventory tracking system. A systematic and faithful
establishment of inventory tracking is what will help you achieve and maintain
accuracy. There are two options for inventory monitoring – software or manual.
Inventory software is connected to your accounting system which is easy to
update when you sell or buy. Manual logs or excel workbooks have to be updated
periodically. The right option for your business depends on your business
needs.</span></div>
<br />
<div style="line-height: normal; margin: 0px 0px 10.66px;">
<b><span style="color: #333333; font-family: "Georgia",serif; font-size: 12pt; margin: 0px;">Understand Your Challenges</span></b><span style="color: #333333; font-family: "Georgia",serif; font-size: 12pt; margin: 0px;"><br />
Do you know what your current accuracy level is? If you have decided to improve
the <a href="https://vgnc.in/our-services/inventory-supply-chain/"><span style="color: blue; margin: 0px;">accuracy of inventory</span></a>, you need to know your
current standing. Once you find out where you stand, it is easier to set goals
you want to achieve and adopt strategies for the same.</span></div>
<br />
<div style="line-height: normal; margin: 0px 0px 10.66px;">
<span style="color: #333333; font-family: "Georgia",serif; font-size: 12pt; margin: 0px;">A thorough examination of your inventory
and all the procedures related to it will help you to find all the hurdles in
the path of effective inventory tracking.</span></div>
<div style="line-height: normal; margin: 0px 0px 10.66px;">
<span style="color: #333333; font-family: "Georgia",serif; font-size: 12pt; margin: 0px;"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhx7rngLIEklRlu-dkztyK4Ee4wsnz-CaWUsAKakv9k9fBswgEzkRMLGF9dC4BdJyZqqQpNA5C0k5NA91gWLEwWJ-IpnYzD78bATkaIp5cqDbdkLQXkxmBWytqQUc9IyMGWyjOIJe1bdQaO/s1600/warehouse1bg.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="417" data-original-width="1280" height="208" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhx7rngLIEklRlu-dkztyK4Ee4wsnz-CaWUsAKakv9k9fBswgEzkRMLGF9dC4BdJyZqqQpNA5C0k5NA91gWLEwWJ-IpnYzD78bATkaIp5cqDbdkLQXkxmBWytqQUc9IyMGWyjOIJe1bdQaO/s640/warehouse1bg.jpg" width="640" /></a></div>
<div style="line-height: normal; margin: 0px 0px 10.66px;">
<span style="color: #333333; font-family: "Georgia",serif; font-size: 12pt; margin: 0px;"><br /></span></div>
<br />
<div align="center" style="line-height: normal; margin: 0px; text-align: center;">
<span style="color: #333333; font-family: "Georgia",serif; font-size: 12pt; margin: 0px;"></span><span style="color: #333333; font-family: "Georgia",serif; font-size: 12pt; margin: 0px;"></span></div>
<br />
<div style="line-height: normal; margin: 0px 0px 10.66px;">
<b><span style="color: #333333; font-family: "Georgia",serif; font-size: 12pt; margin: 0px;">Keep Your Inventory Procedures Simple</span></b><span style="color: #333333; font-family: "Georgia",serif; font-size: 12pt; margin: 0px;"></span></div>
<br />
<div style="line-height: normal; margin: 0px 0px 10.66px;">
<span style="color: #333333; font-family: "Georgia",serif; font-size: 12pt; margin: 0px;">When you are selecting inventory
procedures, you need to ensure that they are simple. Your workers and employees
who will implement the procedure should be able to understand them properly.
Simple procedures are easy to establish, manage and measure. If you are
introducing a complex inventory process, you must offer training to help your
workers and employees.</span></div>
<br />
<div style="line-height: normal; margin: 0px 0px 10.66px;">
<span style="color: #333333; font-family: "Georgia",serif; font-size: 12pt; margin: 0px;"><a href="https://vgnc.in/our-services/inventory-supply-chain/"><b><span style="color: blue; margin: 0px;">Organise Your Inventory</span></b></a><br />
A warehouse or store with unarranged inventory cannot maintain accurate
inventory. If you are unaware of all the products, their types and class that
is in your inventory, you are at the risk of over-ordering or facing shortage
at the time of need.<br />
By organising your inventory into groups and using right labels & tags, you
will not only make identification and location of goods easier but also list
and record them. Your employees and workers will be able to navigate through
the store easily.</span></div>
<br />
<div style="line-height: normal; margin: 0px 0px 10.66px;">
<span style="color: #333333; font-family: "Georgia",serif; font-size: 12pt; margin: 0px;"><a href="https://vgnc.in/our-services/inventory-supply-chain/"><b><span style="color: blue; margin: 0px;">Physical Verification of Store and Warehouse</span></b></a><br />
Physical verification of store and warehouse is an important process that helps
to know whether your inventory records match the actual physical inventory in
your store. The number of times you need to perform the physical counts depends
on the value, complexities and risk of your inventory. Ideally, physical
verification must be conducted twice a year.<br />
Physical verification of stock in Delhi NCR has helped businesses to streamline
their inventory management and control verticals. Verification service offered
by an expert helps your business to achieve accuracy by identifying spoilage,
theft, obsolescence or other such discrepancies. Once you know the discrepancies,
you can take the right measures.</span></div>
<br />
<div style="line-height: normal; margin: 0px 0px 10.66px;">
<b><span style="color: #333333; font-family: "Georgia",serif; font-size: 12pt; margin: 0px;">Train Your Employees</span></b><span style="color: #333333; font-family: "Georgia",serif; font-size: 12pt; margin: 0px;"><br />
Training your employees and workers who closely deal with your inventory is
crucial to attaining accuracy. They must understand all the inventory
procedures for better implementation.<br />
The above-mentioned tips will help you to optimise your inventory procedures
and attain accuracy. Accurate inventory facilitates better management and
control of inventory and thus, is crucial for the success of your business.</span></div>
<b></b><i></i><u></u><sub></sub><sup></sup><strike></strike></div>
Anonymoushttp://www.blogger.com/profile/14272771674522330898noreply@blogger.com0tag:blogger.com,1999:blog-6212789510390375574.post-53216402257557975382018-04-23T12:39:00.000+05:302018-04-23T12:54:31.847+05:30Apparel Industry Internal Audit: Technical Guide by VGNC<div dir="ltr" style="text-align: left;" trbidi="on">
<div style="text-align: center;">
<img alt="Internal Audit and Enterprise Risk Services, Delhi NCR" class="aligncenter wp-image-8530 size-medium" height="320" src="https://vgnc.in/wp-content/uploads/2018/04/DSC00791-300x300.jpg" width="320" /></div>
An<a href="https://vgnc.in/our-services/assurance-advisory/internal-audit-firms/"> internal audit of apparel industry</a> needs assessment of quality, procedures, and systems with a clear view of performance and improvement. Apparel industry is one of the complex industries of India, internal audit needs precision. <a href="https://vgnc.in/">VGNC</a> has extensive experience in offering <a href="https://vgnc.in/our-services/inventory-supply-chain/">Internal Audit and Enterprise Risk Services</a> to clients active in the apparel industry. Today we will discuss technical aspects of internal audit of the apparel industry.<br />
<br />
<b>Example of Checklist of Apparel Industry</b><br />
1. New workers personal file.<br />
2. Salary Sheet.<br />
3. Pay Slip.<br />
4. Resign File.<br />
5. Maternity File.<br />
6. Earn Leave Register.<br />
7. Leave Entry & Register.<br />
8. ID Card Return Issue Register<br />
9. ID card Return Register<br />
10. Proximity card, Software, Grade, Deduction, OT Rate, Calculation of wages (basic rent, Medical Allowance), in time, short leave, attendance Bonus.<br />
11. Workers List for Group Insurance.<br />
12. Trade License.<br />
13. Fire License.<br />
14. VAT Clearance Certificate<br />
15. Income Tax Clearance Certificate.<br />
<br />
Although some of the checklist particulars are mentioned, you must remember that this checklist can be broad and detailed. Sometimes, auditors must use their acumen to create a <a href="https://vgnc.in/our-services/inventory-supply-chain/">suitable checklist that matches the needs of the clients business</a>.<br />
<div style="text-align: center;">
<a href="https://vgnc.in/our-services/assurance-advisory/internal-audit-firms/"><img alt="Internal Audit & Retail Supply Chain Audit Services | VGNC, Delhi NCR" class="aligncenter wp-image-8531 size-medium" height="300" src="https://vgnc.in/wp-content/uploads/2018/04/infogra-300x300.jpg" width="300" /></a></div>
<br />
<b>Types of Audit</b><br />
There are two types of audit in the garment industry<br />
1. Product audit<br />
2. Process audit<br />
<br />
<b>Auditing Process</b><br />
You need to have well-designed process to deliver the standard set by you. With a right process, you can achieve desired quality and insights. Here is the process followed by quality department:<br />
1. Management meeting<br />
2. Factory meeting<br />
3. Inspection of garment or apparel (like fabric)<br />
4. Accessories inspection<br />
5. Production and process inspection<br />
6. In-line inspection<br />
7. Pre-final inspection<br />
8. Final inspection<br />
<a href="https://vgnc.in/our-services/assurance-advisory/internal-audit-firms/"><img alt="Inventory & Supply Chain Consultancy Services - VGNC, Delhi" class="size-medium wp-image-8529 aligncenter" height="300" src="https://vgnc.in/wp-content/uploads/2018/04/BN-QX709_1122GA_HD_20161122190412-300x300.jpg" width="300" /></a><br />
If you are operating in the apparel industry, you need to follow certain standards at all stages. Customer’s preference acts as a driving force in the apparel industry. Buyer patterns are marked to guide the production cycle.<br />
A process audit is important to assess the set procedures. This audit allows you to know whether right processes are being followed throughout your business or not. If an error or mistake is detected, it must be highlighted in the report. Internal audit consultants then suggest some corrective actions that are necessary for improvement.<br />
The quality audit needs to be conducted to provide a stable growth to your business and identify the scope of improvements. Batch audits, inline inspection, pre-final inspection and final inspection are some steps that ensure clear, effective and quality audit.<br />
Do leave in a comment box whether you would like us to publish a full technical guide or a broader checklist.</div>
Anonymoushttp://www.blogger.com/profile/14272771674522330898noreply@blogger.com0tag:blogger.com,1999:blog-6212789510390375574.post-75584869010261587842018-04-17T12:07:00.000+05:302018-04-17T12:14:02.817+05:30Improving Your Internal Audit Reports: Expert Tips By VGNC<div dir="ltr" style="text-align: left;" trbidi="on">
<b><i><a href="https://vgnc.in/" target="_blank"><img alt="vgnc" class=" wp-image-8520 aligncenter" height="640" src="https://vgnc.in/wp-content/uploads/2018/04/NPA_NPA-770x433-300x300.jpg" width="640" /></a> </i></b><br />
<br />
<b><i>A good audit report should lead to essential information and separate the identified risks into those affecting the single business unit and enterprise as a whole. It should also embed links to assist the reader in finding what they need.</i></b><br />
All auditors produce reports after completing the auditing process. It is a standard activity expected by management and other stakeholders of the company. The audit report records the result of the audit procedure which becomes the foundation of sustainable growth and improvement in the organization.<br />
If you want to achieve stable growth, you need to focus on making your internal audit reports clear and effective. A high-quality audit report helps the management to make informed and timely decisions.<br />
<a href="https://vgnc.in/our-services/inventory-supply-chain/" target="_blank"><b>Why You Need to Improve Your Audit Report</b></a><br />
<b>To Increase Visibility</b><br />
As the audit reports are distributed to the internal stakeholders and external auditor, the reports must provide clear information that is neither overstating nor understating the facts. The accurate picture of risk and control environment is useful for management.<br />
<b>For Credibility</b><br />
Internal audit reports review complex and strategic risks faced by your organization. Auditor builds an understanding of business and other associated risks to demonstrate them clearly in the report. If credibility is not demonstrated, internal audit report might not have the same impact.<br />
<b>Communicating Business Value</b><br />
Audit reports showcase the business priorities, risks and improvements failing to link it with your priorities.<br />
<a href="https://vgnc.in/our-services/inventory-supply-chain/" target="_blank"><b>Avoid Clustered Decision</b></a><br />
The tendency to cluster results which might lead to inadequate knowledge of actual risk exposure.<br />
<br />
<a href="https://vgnc.in/" target="_blank"><b><img alt="Internal Audit & Retail Supply Chain Audit Services | VGNC, Delhi NCR" class="size-medium wp-image-8519 aligncenter" height="640" src="https://vgnc.in/wp-content/uploads/2018/04/internal-audit-cosourcing-300x300.jpg" width="640" /></b></a><br />
<br />
<a href="https://vgnc.in/our-services/assurance-advisory/internal-audit-firms/" target="_blank"><b>Tips to Improve Audit Reports</b></a><br />
These are some of the most common mistakes which call for improvement in the audit report. Most of the mistakes are easy to avoid through use of the better template, good writing, and streamlined audit process.<br />
With the growth of technology, most of the departments count on electronic distribution of audit reports. Periodic summaries of the audit are digitally provided to the audit committee. Your management uses the mobile electronic device to review reports.<br />
The audit report improvement that you need to make to be in tune with current trends are:<br />
<ul>
<li>You must lead your audit report with important information. The audit report must embed links in the text allow easy navigation to detailed information as needed.</li>
<li>You must divide your audit reports into parts that effectively demonstrates the result of the audit engagement including isolating risk impacts on your company.</li>
</ul>
In the end, we can conclude that clarity of internal audit report is necessary for its effectiveness and to make improvements in the procedures of your company.<br />
<a href="https://vgnc.in/" target="_blank"><img alt="Inventory & Supply Chain Consultancy Services - VGNC, Delhi" class="size-medium wp-image-8521 aligncenter" height="640" src="https://vgnc.in/wp-content/uploads/2018/04/schneider-group-internal-control-internal-audit-750x400-300x300.jpg" width="640" /></a></div>
Anonymoushttp://www.blogger.com/profile/14272771674522330898noreply@blogger.com0tag:blogger.com,1999:blog-6212789510390375574.post-61517400809652134522018-04-12T13:00:00.000+05:302018-04-12T13:17:52.087+05:30Ways to Incorporate Strategic Objectives into Internal Audit Plan<div dir="ltr" style="text-align: left;" trbidi="on">
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Date"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Body Text First Indent"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Body Text First Indent 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Note Heading"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Body Text 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Body Text 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Body Text Indent 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Body Text Indent 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Block Text"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Hyperlink"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="FollowedHyperlink"/>
<w:LsdException Locked="false" Priority="22" QFormat="true" Name="Strong"/>
<w:LsdException Locked="false" Priority="20" QFormat="true" Name="Emphasis"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Document Map"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Plain Text"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="E-mail Signature"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Top of Form"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Bottom of Form"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Normal (Web)"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Acronym"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Address"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Cite"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Code"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Definition"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Keyboard"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Preformatted"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Sample"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Typewriter"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Variable"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Normal Table"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="annotation subject"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="No List"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Outline List 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Outline List 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Outline List 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Simple 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Simple 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Simple 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Classic 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Classic 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Classic 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Classic 4"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Colorful 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Colorful 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Colorful 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Columns 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Columns 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Columns 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Columns 4"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Columns 5"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 4"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 5"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 6"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 7"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 8"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 4"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 5"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 6"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 7"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 8"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table 3D effects 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table 3D effects 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table 3D effects 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Contemporary"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Elegant"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Professional"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Subtle 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Subtle 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Web 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Web 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Web 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Balloon Text"/>
<w:LsdException Locked="false" Priority="39" Name="Table Grid"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Theme"/>
<w:LsdException Locked="false" SemiHidden="true" Name="Placeholder Text"/>
<w:LsdException Locked="false" Priority="1" QFormat="true" Name="No Spacing"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading"/>
<w:LsdException Locked="false" Priority="61" Name="Light List"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 1"/>
<w:LsdException Locked="false" Priority="61" Name="Light List Accent 1"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 1"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 1"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 1"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 1"/>
<w:LsdException Locked="false" SemiHidden="true" Name="Revision"/>
<w:LsdException Locked="false" Priority="34" QFormat="true"
Name="List Paragraph"/>
<w:LsdException Locked="false" Priority="29" QFormat="true" Name="Quote"/>
<w:LsdException Locked="false" Priority="30" QFormat="true"
Name="Intense Quote"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 1"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 1"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 1"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 1"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List Accent 1"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 1"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 1"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 1"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 2"/>
<w:LsdException Locked="false" Priority="61" Name="Light List Accent 2"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 2"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 2"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 2"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 2"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 2"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 2"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 2"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 2"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List Accent 2"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 2"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 2"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 2"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 3"/>
<w:LsdException Locked="false" Priority="61" Name="Light List Accent 3"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 3"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 3"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 3"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 3"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 3"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 3"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 3"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 3"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List Accent 3"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 3"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 3"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 3"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 4"/>
<w:LsdException Locked="false" Priority="61" Name="Light List Accent 4"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 4"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 4"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 4"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 4"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 4"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 4"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 4"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 4"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List Accent 4"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 4"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 4"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 4"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 5"/>
<w:LsdException Locked="false" Priority="61" Name="Light List Accent 5"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 5"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 5"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 5"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 5"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 5"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 5"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 5"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 5"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List Accent 5"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 5"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 5"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 5"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 6"/>
<w:LsdException Locked="false" Priority="61" Name="Light List Accent 6"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 6"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 6"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 6"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 6"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 6"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 6"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 6"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 6"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List Accent 6"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 6"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 6"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 6"/>
<w:LsdException Locked="false" Priority="19" QFormat="true"
Name="Subtle Emphasis"/>
<w:LsdException Locked="false" Priority="21" QFormat="true"
Name="Intense Emphasis"/>
<w:LsdException Locked="false" Priority="31" QFormat="true"
Name="Subtle Reference"/>
<w:LsdException Locked="false" Priority="32" QFormat="true"
Name="Intense Reference"/>
<w:LsdException Locked="false" Priority="33" QFormat="true" Name="Book Title"/>
<w:LsdException Locked="false" Priority="37" SemiHidden="true"
UnhideWhenUsed="true" Name="Bibliography"/>
<w:LsdException Locked="false" Priority="39" SemiHidden="true"
UnhideWhenUsed="true" QFormat="true" Name="TOC Heading"/>
<w:LsdException Locked="false" Priority="41" Name="Plain Table 1"/>
<w:LsdException Locked="false" Priority="42" Name="Plain Table 2"/>
<w:LsdException Locked="false" Priority="43" Name="Plain Table 3"/>
<w:LsdException Locked="false" Priority="44" Name="Plain Table 4"/>
<w:LsdException Locked="false" Priority="45" Name="Plain Table 5"/>
<w:LsdException Locked="false" Priority="40" Name="Grid Table Light"/>
<w:LsdException Locked="false" Priority="46" Name="Grid Table 1 Light"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark"/>
<w:LsdException Locked="false" Priority="51" Name="Grid Table 6 Colorful"/>
<w:LsdException Locked="false" Priority="52" Name="Grid Table 7 Colorful"/>
<w:LsdException Locked="false" Priority="46"
Name="Grid Table 1 Light Accent 1"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2 Accent 1"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3 Accent 1"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4 Accent 1"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark Accent 1"/>
<w:LsdException Locked="false" Priority="51"
Name="Grid Table 6 Colorful Accent 1"/>
<w:LsdException Locked="false" Priority="52"
Name="Grid Table 7 Colorful Accent 1"/>
<w:LsdException Locked="false" Priority="46"
Name="Grid Table 1 Light Accent 2"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2 Accent 2"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3 Accent 2"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4 Accent 2"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark Accent 2"/>
<w:LsdException Locked="false" Priority="51"
Name="Grid Table 6 Colorful Accent 2"/>
<w:LsdException Locked="false" Priority="52"
Name="Grid Table 7 Colorful Accent 2"/>
<w:LsdException Locked="false" Priority="46"
Name="Grid Table 1 Light Accent 3"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2 Accent 3"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3 Accent 3"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4 Accent 3"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark Accent 3"/>
<w:LsdException Locked="false" Priority="51"
Name="Grid Table 6 Colorful Accent 3"/>
<w:LsdException Locked="false" Priority="52"
Name="Grid Table 7 Colorful Accent 3"/>
<w:LsdException Locked="false" Priority="46"
Name="Grid Table 1 Light Accent 4"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2 Accent 4"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3 Accent 4"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4 Accent 4"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark Accent 4"/>
<w:LsdException Locked="false" Priority="51"
Name="Grid Table 6 Colorful Accent 4"/>
<w:LsdException Locked="false" Priority="52"
Name="Grid Table 7 Colorful Accent 4"/>
<w:LsdException Locked="false" Priority="46"
Name="Grid Table 1 Light Accent 5"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2 Accent 5"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3 Accent 5"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4 Accent 5"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark Accent 5"/>
<w:LsdException Locked="false" Priority="51"
Name="Grid Table 6 Colorful Accent 5"/>
<w:LsdException Locked="false" Priority="52"
Name="Grid Table 7 Colorful Accent 5"/>
<w:LsdException Locked="false" Priority="46"
Name="Grid Table 1 Light Accent 6"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2 Accent 6"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3 Accent 6"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4 Accent 6"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark Accent 6"/>
<w:LsdException Locked="false" Priority="51"
Name="Grid Table 6 Colorful Accent 6"/>
<w:LsdException Locked="false" Priority="52"
Name="Grid Table 7 Colorful Accent 6"/>
<w:LsdException Locked="false" Priority="46" Name="List Table 1 Light"/>
<w:LsdException Locked="false" Priority="47" Name="List Table 2"/>
<w:LsdException Locked="false" Priority="48" Name="List Table 3"/>
<w:LsdException Locked="false" Priority="49" Name="List Table 4"/>
<w:LsdException Locked="false" Priority="50" Name="List Table 5 Dark"/>
<w:LsdException Locked="false" Priority="51" Name="List Table 6 Colorful"/>
<w:LsdException Locked="false" Priority="52" Name="List Table 7 Colorful"/>
<w:LsdException Locked="false" Priority="46"
Name="List Table 1 Light Accent 1"/>
<w:LsdException Locked="false" Priority="47" Name="List Table 2 Accent 1"/>
<w:LsdException Locked="false" Priority="48" Name="List Table 3 Accent 1"/>
<w:LsdException Locked="false" Priority="49" Name="List Table 4 Accent 1"/>
<w:LsdException Locked="false" Priority="50" Name="List Table 5 Dark Accent 1"/>
<w:LsdException Locked="false" Priority="51"
Name="List Table 6 Colorful Accent 1"/>
<w:LsdException Locked="false" Priority="52"
Name="List Table 7 Colorful Accent 1"/>
<w:LsdException Locked="false" Priority="46"
Name="List Table 1 Light Accent 2"/>
<w:LsdException Locked="false" Priority="47" Name="List Table 2 Accent 2"/>
<w:LsdException Locked="false" Priority="48" Name="List Table 3 Accent 2"/>
<w:LsdException Locked="false" Priority="49" Name="List Table 4 Accent 2"/>
<w:LsdException Locked="false" Priority="50" Name="List Table 5 Dark Accent 2"/>
<w:LsdException Locked="false" Priority="51"
Name="List Table 6 Colorful Accent 2"/>
<w:LsdException Locked="false" Priority="52"
Name="List Table 7 Colorful Accent 2"/>
<w:LsdException Locked="false" Priority="46"
Name="List Table 1 Light Accent 3"/>
<w:LsdException Locked="false" Priority="47" Name="List Table 2 Accent 3"/>
<w:LsdException Locked="false" Priority="48" Name="List Table 3 Accent 3"/>
<w:LsdException Locked="false" Priority="49" Name="List Table 4 Accent 3"/>
<w:LsdException Locked="false" Priority="50" Name="List Table 5 Dark Accent 3"/>
<w:LsdException Locked="false" Priority="51"
Name="List Table 6 Colorful Accent 3"/>
<w:LsdException Locked="false" Priority="52"
Name="List Table 7 Colorful Accent 3"/>
<w:LsdException Locked="false" Priority="46"
Name="List Table 1 Light Accent 4"/>
<w:LsdException Locked="false" Priority="47" Name="List Table 2 Accent 4"/>
<w:LsdException Locked="false" Priority="48" Name="List Table 3 Accent 4"/>
<w:LsdException Locked="false" Priority="49" Name="List Table 4 Accent 4"/>
<w:LsdException Locked="false" Priority="50" Name="List Table 5 Dark Accent 4"/>
<w:LsdException Locked="false" Priority="51"
Name="List Table 6 Colorful Accent 4"/>
<w:LsdException Locked="false" Priority="52"
Name="List Table 7 Colorful Accent 4"/>
<w:LsdException Locked="false" Priority="46"
Name="List Table 1 Light Accent 5"/>
<w:LsdException Locked="false" Priority="47" Name="List Table 2 Accent 5"/>
<w:LsdException Locked="false" Priority="48" Name="List Table 3 Accent 5"/>
<w:LsdException Locked="false" Priority="49" Name="List Table 4 Accent 5"/>
<w:LsdException Locked="false" Priority="50" Name="List Table 5 Dark Accent 5"/>
<w:LsdException Locked="false" Priority="51"
Name="List Table 6 Colorful Accent 5"/>
<w:LsdException Locked="false" Priority="52"
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<div class="separator" style="clear: both; text-align: center;">
<a href="https://vgnc.in/our-services/inventory-supply-chain/" target="_blank"><img alt="https://vgnc.in/our-services/inventory-supply-chain/" border="0" data-original-height="435" data-original-width="604" height="460" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEisZ9vvzzRQB9fVMZ7Dg7C5b-9h9ngCn8QYN86gJWRSYu2nmQbXGAJSdqT-TsHF9diC8SPxE8RgidVifCVNH4IBIuGthiAKN9AmfxYsCuzA8Mz5YyIopmGImlVXBZpdjVepAzYI9wBHDE09/s640/IA_Recovery_wheel_imagec.png" width="640" /></a></div>
<div class="MsoNormal">
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<div class="MsoNormal">
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<div class="MsoNormal">
<a href="https://vgnc.in/our-services/assurance-advisory/internal-audit-firms/" target="_blank"><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Internal auditingteams must check whether or not your company is incorporating its strategic objectivesin audit plans and other operational concerns.</span></i></b></a></div>
<div class="MsoNormal">
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<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Your
company will face existential risk due to strategic risks<span style="mso-no-proof: yes;">. Strategic risks may cause 80% damage to your
company’s market share.</span> Often, internal audit teams spend the <span style="mso-no-proof: yes;">majority</span> of their time on operational and
financial audits ignoring the strategic risks.</span></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Although
all these areas are crucial, audit teams need to incorporate your company’s
strategic objectives into their audit plan. This will help you to gain an
insight of whether or not your company is on the right track or not. </span></div>
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<br /></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">At VGNC, we
believe that internal audit is incomplete without incorporation of strategic
objectives. Today, we will discuss a few methods using which you can
incorporate your company’s strategic objective in your audit plan.</span></div>
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<div class="MsoNormal">
<a href="https://vgnc.in/our-services/inventory-supply-chain/" target="_blank"><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 12.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Bottom-UpApproach</span></b></a></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">One of the
popular approaches used in investing, this method can help you to ensure that
your audit plan <span style="mso-no-proof: yes;">gives</span> a satisfactory
record of your company’s strategic priorities. It is one of the best ways to
gather information and insight about whether your company and its employees are
true to the strategic objectives. </span></div>
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<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Information
is collected from unit-level processes that have a <span style="mso-no-proof: yes;">strong</span> impact on corporate objectives of your company. We encourage
our clients to make enterprise level goals the core of their annual audit. Our
clients were able to identify strategic procedures that <span style="mso-no-proof: yes;">need</span> careful scrutiny.</span></div>
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<div class="separator" style="clear: both; text-align: center;">
<a href="https://vgnc.in/our-services/assurance-advisory/internal-audit-firms/" target="_blank"><img alt="https://vgnc.in/our-services/assurance-advisory/internal-audit-firms/" border="0" data-original-height="426" data-original-width="640" height="426" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiuvWN8uX5mgnGOqzBs77kcyT1sc1SqweAgWt3oAom8iRJYdQ2kN9DYTCo2vvkzX8uB0H-nlr3VqqyDIA72-mNNx-4HPSYXD6hy-nS5ENuBj3aVG0WsrVXnBRNJY00Ro7m0XrAFd9U6_8Di/s640/HR-business-partner-collaboration-manager-advice-advisor-meeting-one-to-one-discussion.jpg" width="640" /></a></div>
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<div class="MsoNormal">
<a href="https://vgnc.in/our-services/assurance-advisory/internal-audit-firms/" target="_blank">Top-DownMethod</a></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Basically,
it is the starting point of all the corporate strategic objectives. In this
method, you can make <span style="mso-no-proof: yes;">organization-wide</span>
drivers that have strategic value an essential input while creating a new audit
or risk assessment plan.</span></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">In this
type of audit, the analysis begins with the <span style="mso-no-proof: yes;">identification</span>
of strategies that is of highest value to stakeholders. The functions and
processes are evaluated while keeping their specific contribution to these
strategic objectives in mind. </span></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">The audit
projects are first grouped into the themes of strategy and then aligned with
the enterprise risk. Value driver analysis is used to filter all the potential
engagement for final selection. The focus is laid on the process that <span style="mso-no-proof: yes;">is</span> creating the <span style="mso-no-proof: yes;">most</span>
value for your company. </span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<a href="https://vgnc.in/" target="_blank"><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 12.0pt; line-height: 107%; mso-ansi-language: EN-GB;">The Hybrid</span></b></a></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">This method
is a perfect blend of both top-down and bottom-up method. This blended approach
ensures the strategic plan and objectives of your company are accounted for.
The information <span style="mso-no-proof: yes;">is</span> diligently collected
through management interviews to avoid any kind of wrong information or missing
information.</span></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Whether the
corporate objectives are to be met or not based on strategic planning is
verified at a high level. Further drilling is done by asking detailed
questionnaires during management interviews. This helps the audit team to
understand unit strategies <span style="mso-no-proof: yes;">for</span> your
business. The result of risk assessment and audit is in tune with business and
enterprise- level strategies. </span></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">These are
some methods that <span style="mso-no-proof: yes;">help</span> you to incorporate
strategic objectives of your business into your audit plan. A right internal
audit consulting partner can help you to achieve <span style="mso-no-proof: yes;">long-term</span> goals by ensuring that your corporate goals are <span style="mso-no-proof: yes;">prioritized</span> right from the unit level.</span></div>
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<a href="https://vgnc.in/our-services/inventory-supply-chain/" target="_blank"><img alt="https://vgnc.in/our-services/inventory-supply-chain/" border="0" data-original-height="492" data-original-width="602" height="522" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEimsy7hN4A06-K6W5jDOgC0KjshdzWp4m2zlTwSlHCe68ZHFaRRNCwv1JJzgCuYJE-DbgyGLA6aVjGqIt2_357ijJT1ShP7RlnB8pnCxEtUjcwWLSm9131ssJvaZzT9p3aOP1HMk79KVpVv/s640/main-qimg-89f1abf179131b42ef149536d7dddec0-c.jpeg" width="640" /></a></div>
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Anonymoushttp://www.blogger.com/profile/14272771674522330898noreply@blogger.com0tag:blogger.com,1999:blog-6212789510390375574.post-59355780099820648732018-04-10T11:11:00.000+05:302018-04-10T11:58:41.704+05:30Carve Out Efficient Growth Path for Your Business with Internal Audit<div dir="ltr" style="text-align: left;" trbidi="on">
<img alt="1" class="alignnone size-full wp-image-174" height="640" src="https://vgncin.files.wordpress.com/2018/04/1.jpg" width="640" /><br />
<br />
<b><i><a href="https://vgncin.wordpress.com/2018/04/04/an-expert-guide-to-stocktaking-and-inventory-accuracy/" rel="noopener" target="_blank">In the dynamic Indian market situations, where there is a lot of risk antipathy among the managers and stakeholders but they must take bigger and bolder risks; internal audit can play a vital role.</a></i></b><br />
<br />
Over the past decade, bigger companies have struggled to maintain consistent in growth. Similarly, small and medium companies have suffered instability in their earnings and revenue along with a constant threat on their survival in the market.<br />
<br />
<b><a href="https://vgnc.in/our-services/assurance-advisory/internal-audit-firms/">Understanding the Struggles of Business Organisations</a></b><br />
While the market is throwing curved balls at the businesses, top management is growing hostile towards the risk. Managers retreating to short term solutions to problems and increase in bureaucracy have contributed to slow down the performance of organisations.<br />
Another factor that exacerbates the struggle of organisations are growing number of assurance functions. In the past decade, assurance functions including compliance, risk management, legal and audit have doubled up. Government has not only introduced new ones but also accelerated the rate at which the existing ones are amended.<br />
Although these are some factors that can add to the struggles of your business organisation, factors like lack of coordination, slow decision making and focusing on downsides of acting in a risky situation can deepen the problems.<br />
All the audit departments should be aware of the growth hindering problems. Being aware of the issues, helps managers to understand components that are causing them. For consistent growth is ever-changing market, you need to take bigger yet risky growth decisions.<br />
<br />
<br />
<img alt="2" class="alignnone size-full wp-image-175" height="640" src="https://vgncin.files.wordpress.com/2018/04/2.jpg" width="640" /><br />
<br />
<b><a href="https://vgnc.in/our-services/assurance-advisory/internal-audit-firms/">How can internal audit carve a growth path for struggling organisations</a></b><br />
An internal auditor can help a business to sustain growth even at the times of market turmoil by identifying the common growth anchors that prevent your organisation from taking right decisions.<br />
Some common growth preventing anchors:<br />
<br />
<b><a href="https://vgnc.in/our-services/assurance-advisory/internal-audit-firms/">Bureaucracy</a></b><br />
Finance teams and other managers rely on complex finance models to make decisions. But the problem with this approach is that too emphasis on business cases and hurdles lead to debates. Issues are often categorised according to different criteria.<br />
While a comprehensive analysis important, over calculation or reliance on finance models slows down the decision making process. Rather than using acumen, experience and knowledge, managers try to find answers through the cases and models. This limits the possibility of transformational growth of your organisation.<br />
<br />
<a href="https://vgnc.in/" rel="noopener" target="_blank"><img alt="vgnc-post" class="alignnone size-full wp-image-178" height="640" src="https://vgncin.files.wordpress.com/2018/04/vgnc-post.jpg" width="640" /></a><br />
<br />
<br />
<b><a href="https://vgnc.in/our-services/assurance-advisory/internal-audit-firms/">Short term solution approach</a></b><br />
If you are a business operating in a complex market, you might be tempted to use short term solutions to the problems that arise in the course of operation to maintain the flow. While constant fluidity might motivate your managers and employees, variance-focused approach hinder growth consistency. This slows down their performance in the long run.<br />
The trick is to use both internal and external targets to make decisions regarding strategic and competitive interests of your business organisation.<br />
<br />
<b><a href="https://vgnc.in/our-services/inventory-supply-chain/">Fear of failure</a></b><br />
In a stressful business environment, it is tough to take up risky growth projects. Managers are often afraid of failing and thus, abandon the projects when it starts showing signs of failure. These practice may suck out the creative thinking of managers and employees. They might keep shutting growth techniques. Internal audit helps you to set exit signals. So that you get the trigger when it is time to abandon the project.<br />
<br />
<img alt="fb-posting" class="alignnone size-full wp-image-177" height="336" src="https://vgncin.files.wordpress.com/2018/04/fb-posting.jpg" width="640" /><br />
<br />
<b><a href="https://vgnc.in/our-services/inventory-supply-chain/">Capacity</a></b><br />
Small margins are harmful for your business if you are making efforts to grow. Instead of going lean with cost controlling, you need to allocate your resources to the business based on target and strategic importance.<br />
<br />
<b><a href="https://vgnc.in/our-services/inventory-supply-chain/">Internal audit helps in simplifying the situation</a></b><br />
<ul>
<li>Internal audit tackles all the struggles of your business; ceasing all the harm and guiding into the direction of growth.</li>
<li>Audit on internal level helps in establishing coordination within organisation simplifying assurance reports and streamlining insights.</li>
<li>Your business can get an assurance over risky projects due to internal audit.</li>
</ul>
VGNC helps you go one step further by auditing strategic assumptions that can lay the solid foundation of any long term growth plans or process. Our team of experts ensure that your get all the benefits of internal audit without having to slow down your operations. We have extensive experience and deep knowledge which not only allows us to evaluate the key risk factors but also isolate growth contributing objectives and procedures to prevent disruption within your organisation.<br />
<br />
<a href="https://vgnc.in/"><img alt="fb-add-2..1" class="alignnone size-full wp-image-176" height="640" src="https://vgncin.files.wordpress.com/2018/04/fb-add-2-1.jpg" width="640" /></a></div>
Anonymoushttp://www.blogger.com/profile/14272771674522330898noreply@blogger.com0tag:blogger.com,1999:blog-6212789510390375574.post-14029609534041400922018-04-04T16:20:00.003+05:302018-04-04T16:20:42.346+05:30An Expert Guide to Stocktaking and Inventory Accuracy<div dir="ltr" style="text-align: left;" trbidi="on">
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Name="List Continue"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List Continue 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List Continue 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List Continue 4"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List Continue 5"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Message Header"/>
<w:LsdException Locked="false" Priority="11" QFormat="true" Name="Subtitle"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Salutation"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Date"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Body Text First Indent"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Body Text First Indent 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Note Heading"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Body Text 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Body Text 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Body Text Indent 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Body Text Indent 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Block Text"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Hyperlink"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="FollowedHyperlink"/>
<w:LsdException Locked="false" Priority="22" QFormat="true" Name="Strong"/>
<w:LsdException Locked="false" Priority="20" QFormat="true" Name="Emphasis"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Document Map"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Plain Text"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="E-mail Signature"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Top of Form"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Bottom of Form"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Normal (Web)"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Acronym"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Address"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Cite"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Code"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Definition"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Keyboard"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Preformatted"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Sample"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Typewriter"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Variable"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Normal Table"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="annotation subject"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="No List"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Outline List 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Outline List 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Outline List 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Simple 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Simple 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Simple 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Classic 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Classic 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Classic 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Classic 4"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Colorful 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Colorful 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Colorful 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Columns 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Columns 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Columns 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Columns 4"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Columns 5"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 4"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 5"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 6"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 7"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 8"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 4"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 5"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 6"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 7"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 8"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table 3D effects 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table 3D effects 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table 3D effects 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Contemporary"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Elegant"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Professional"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Subtle 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Subtle 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Web 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Web 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Web 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Balloon Text"/>
<w:LsdException Locked="false" Priority="39" Name="Table Grid"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Theme"/>
<w:LsdException Locked="false" SemiHidden="true" Name="Placeholder Text"/>
<w:LsdException Locked="false" Priority="1" QFormat="true" Name="No Spacing"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading"/>
<w:LsdException Locked="false" Priority="61" Name="Light List"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 1"/>
<w:LsdException Locked="false" Priority="61" Name="Light List Accent 1"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 1"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 1"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 1"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 1"/>
<w:LsdException Locked="false" SemiHidden="true" Name="Revision"/>
<w:LsdException Locked="false" Priority="34" QFormat="true"
Name="List Paragraph"/>
<w:LsdException Locked="false" Priority="29" QFormat="true" Name="Quote"/>
<w:LsdException Locked="false" Priority="30" QFormat="true"
Name="Intense Quote"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 1"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 1"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 1"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 1"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List Accent 1"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 1"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 1"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 1"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 2"/>
<w:LsdException Locked="false" Priority="61" Name="Light List Accent 2"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 2"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 2"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 2"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 2"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 2"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 2"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 2"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 2"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List Accent 2"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 2"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 2"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 2"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 3"/>
<w:LsdException Locked="false" Priority="61" Name="Light List Accent 3"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 3"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 3"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 3"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 3"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 3"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 3"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 3"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 3"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List Accent 3"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 3"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 3"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 3"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 4"/>
<w:LsdException Locked="false" Priority="61" Name="Light List Accent 4"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 4"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 4"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 4"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 4"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 4"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 4"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 4"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 4"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List Accent 4"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 4"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 4"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 4"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 5"/>
<w:LsdException Locked="false" Priority="61" Name="Light List Accent 5"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 5"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 5"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 5"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 5"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 5"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 5"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 5"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 5"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List Accent 5"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 5"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 5"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 5"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 6"/>
<w:LsdException Locked="false" Priority="61" Name="Light List Accent 6"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 6"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 6"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 6"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 6"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 6"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 6"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 6"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 6"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List Accent 6"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 6"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 6"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 6"/>
<w:LsdException Locked="false" Priority="19" QFormat="true"
Name="Subtle Emphasis"/>
<w:LsdException Locked="false" Priority="21" QFormat="true"
Name="Intense Emphasis"/>
<w:LsdException Locked="false" Priority="31" QFormat="true"
Name="Subtle Reference"/>
<w:LsdException Locked="false" Priority="32" QFormat="true"
Name="Intense Reference"/>
<w:LsdException Locked="false" Priority="33" QFormat="true" Name="Book Title"/>
<w:LsdException Locked="false" Priority="37" SemiHidden="true"
UnhideWhenUsed="true" Name="Bibliography"/>
<w:LsdException Locked="false" Priority="39" SemiHidden="true"
UnhideWhenUsed="true" QFormat="true" Name="TOC Heading"/>
<w:LsdException Locked="false" Priority="41" Name="Plain Table 1"/>
<w:LsdException Locked="false" Priority="42" Name="Plain Table 2"/>
<w:LsdException Locked="false" Priority="43" Name="Plain Table 3"/>
<w:LsdException Locked="false" Priority="44" Name="Plain Table 4"/>
<w:LsdException Locked="false" Priority="45" Name="Plain Table 5"/>
<w:LsdException Locked="false" Priority="40" Name="Grid Table Light"/>
<w:LsdException Locked="false" Priority="46" Name="Grid Table 1 Light"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark"/>
<w:LsdException Locked="false" Priority="51" Name="Grid Table 6 Colorful"/>
<w:LsdException Locked="false" Priority="52" Name="Grid Table 7 Colorful"/>
<w:LsdException Locked="false" Priority="46"
Name="Grid Table 1 Light Accent 1"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2 Accent 1"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3 Accent 1"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4 Accent 1"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark Accent 1"/>
<w:LsdException Locked="false" Priority="51"
Name="Grid Table 6 Colorful Accent 1"/>
<w:LsdException Locked="false" Priority="52"
Name="Grid Table 7 Colorful Accent 1"/>
<w:LsdException Locked="false" Priority="46"
Name="Grid Table 1 Light Accent 2"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2 Accent 2"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3 Accent 2"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4 Accent 2"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark Accent 2"/>
<w:LsdException Locked="false" Priority="51"
Name="Grid Table 6 Colorful Accent 2"/>
<w:LsdException Locked="false" Priority="52"
Name="Grid Table 7 Colorful Accent 2"/>
<w:LsdException Locked="false" Priority="46"
Name="Grid Table 1 Light Accent 3"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2 Accent 3"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3 Accent 3"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4 Accent 3"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark Accent 3"/>
<w:LsdException Locked="false" Priority="51"
Name="Grid Table 6 Colorful Accent 3"/>
<w:LsdException Locked="false" Priority="52"
Name="Grid Table 7 Colorful Accent 3"/>
<w:LsdException Locked="false" Priority="46"
Name="Grid Table 1 Light Accent 4"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2 Accent 4"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3 Accent 4"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4 Accent 4"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark Accent 4"/>
<w:LsdException Locked="false" Priority="51"
Name="Grid Table 6 Colorful Accent 4"/>
<w:LsdException Locked="false" Priority="52"
Name="Grid Table 7 Colorful Accent 4"/>
<w:LsdException Locked="false" Priority="46"
Name="Grid Table 1 Light Accent 5"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2 Accent 5"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3 Accent 5"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4 Accent 5"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark Accent 5"/>
<w:LsdException Locked="false" Priority="51"
Name="Grid Table 6 Colorful Accent 5"/>
<w:LsdException Locked="false" Priority="52"
Name="Grid Table 7 Colorful Accent 5"/>
<w:LsdException Locked="false" Priority="46"
Name="Grid Table 1 Light Accent 6"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2 Accent 6"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3 Accent 6"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4 Accent 6"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark Accent 6"/>
<w:LsdException Locked="false" Priority="51"
Name="Grid Table 6 Colorful Accent 6"/>
<w:LsdException Locked="false" Priority="52"
Name="Grid Table 7 Colorful Accent 6"/>
<w:LsdException Locked="false" Priority="46" Name="List Table 1 Light"/>
<w:LsdException Locked="false" Priority="47" Name="List Table 2"/>
<w:LsdException Locked="false" Priority="48" Name="List Table 3"/>
<w:LsdException Locked="false" Priority="49" Name="List Table 4"/>
<w:LsdException Locked="false" Priority="50" Name="List Table 5 Dark"/>
<w:LsdException Locked="false" Priority="51" Name="List Table 6 Colorful"/>
<w:LsdException Locked="false" Priority="52" Name="List Table 7 Colorful"/>
<w:LsdException Locked="false" Priority="46"
Name="List Table 1 Light Accent 1"/>
<w:LsdException Locked="false" Priority="47" Name="List Table 2 Accent 1"/>
<w:LsdException Locked="false" Priority="48" Name="List Table 3 Accent 1"/>
<w:LsdException Locked="false" Priority="49" Name="List Table 4 Accent 1"/>
<w:LsdException Locked="false" Priority="50" Name="List Table 5 Dark Accent 1"/>
<w:LsdException Locked="false" Priority="51"
Name="List Table 6 Colorful Accent 1"/>
<w:LsdException Locked="false" Priority="52"
Name="List Table 7 Colorful Accent 1"/>
<w:LsdException Locked="false" Priority="46"
Name="List Table 1 Light Accent 2"/>
<w:LsdException Locked="false" Priority="47" Name="List Table 2 Accent 2"/>
<w:LsdException Locked="false" Priority="48" Name="List Table 3 Accent 2"/>
<w:LsdException Locked="false" Priority="49" Name="List Table 4 Accent 2"/>
<w:LsdException Locked="false" Priority="50" Name="List Table 5 Dark Accent 2"/>
<w:LsdException Locked="false" Priority="51"
Name="List Table 6 Colorful Accent 2"/>
<w:LsdException Locked="false" Priority="52"
Name="List Table 7 Colorful Accent 2"/>
<w:LsdException Locked="false" Priority="46"
Name="List Table 1 Light Accent 3"/>
<w:LsdException Locked="false" Priority="47" Name="List Table 2 Accent 3"/>
<w:LsdException Locked="false" Priority="48" Name="List Table 3 Accent 3"/>
<w:LsdException Locked="false" Priority="49" Name="List Table 4 Accent 3"/>
<w:LsdException Locked="false" Priority="50" Name="List Table 5 Dark Accent 3"/>
<w:LsdException Locked="false" Priority="51"
Name="List Table 6 Colorful Accent 3"/>
<w:LsdException Locked="false" Priority="52"
Name="List Table 7 Colorful Accent 3"/>
<w:LsdException Locked="false" Priority="46"
Name="List Table 1 Light Accent 4"/>
<w:LsdException Locked="false" Priority="47" Name="List Table 2 Accent 4"/>
<w:LsdException Locked="false" Priority="48" Name="List Table 3 Accent 4"/>
<w:LsdException Locked="false" Priority="49" Name="List Table 4 Accent 4"/>
<w:LsdException Locked="false" Priority="50" Name="List Table 5 Dark Accent 4"/>
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<br />
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<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://vgnc.in/our-services/assurance-advisory/internal-audit-firms/" target="_blank"><img alt="VGNC" border="0" data-original-height="471" data-original-width="500" height="602" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj13c-19caNf_2wc84mhhWE6B-92kJ0rIHxSmrxL-uzNIUcGausfzWxMnQl72plyw4YGSgpH3hAsrSmijToPUpWRvQS4hgvDXI33XHAV2h1t0swC48PlbmmeguswFKE5Mwv7wuDqinOPvLx/s640/Inventory-Management.jpg" width="640" /></a></div>
<br />
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Having
problems with inventory accuracy is one of the most common problems faced by
retailers. If you this issue can be solved <span style="mso-no-proof: yes;">by</span>
implementing additional technologies or systems, you are wrong. Although
retailers implement various tips and tricks, they cannot eradicate the accuracy
issues in <span style="mso-no-proof: yes;">stocktaking</span> and inventory. This
is primarily because of implementation issues.</span></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Poor
implementation system might worsen the inventory accuracy situations. If you
are planning to implement additional systems to achieve accuracy, we want you
to think again. VGNC has extensive experience in the <span style="mso-no-proof: yes;">retail</span> industry which allows us to isolate best practices. As
trusted experts, we suggest that you need to get your basics right before
adding anything new.</span></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">In this
article, we will give you a guide to <span style="mso-no-proof: yes;">streamlining</span>
your basics to achieve inventory accuracy. Let’s get back to basics.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<a href="https://vgnc.in/our-services/inventory-supply-chain/" target="_blank"><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB;">A BriefUnderstanding of Basics</span></b></a></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">If you are
trying to list down the basic aspects to maintain higher levels of accuracy,
you will see that it might not include any revolutionary verticle rather all
the essentials. These essentials of precision in inventory <span style="mso-no-proof: yes;">include</span> - <span style="mso-no-proof: yes;">process</span>
definition, procedure documenting, building right approach and attitude,
training, testing, monitoring, standard setting, tracking, physical
verification and counting, accountability and rechecking.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<a href="https://vgnc.in/our-services/inventory-supply-chain/" target="_blank"><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 16.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Ways toEnhance the Reliability of Your Inventory</span></b></a></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Today, we
will discuss some essential steps that can either make or break your
implementation process. Before we go ahead and discuss where you can make
changes, you need to <span style="mso-no-proof: yes;">analyze</span> your
inventory and its procedures to identify risks and flaw points. Take your time
to <span style="mso-no-proof: yes;">analyze</span> your inventory function
without rushing to make changes. Immediate or quick fix approach will prove to
be damaging <span style="mso-no-proof: yes;">to</span> your business. </span></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">After you
have identified areas <span style="mso-no-proof: yes;">for</span> improvement,
you can easily implement the following tips:</span></div>
<div class="MsoNormal">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiHwu90eJSH-Ymdz08hCCcKV63a3vm3EFRX7IdUQmMAokfn9xUpTk4ax5L7x-Nrf0pCRuB2fMbK3CJ28AtkFL5zhitaOlYGr3c6pEdheO_U6rGqC4eta5bW9qzOXIpQ4DUwyQBM9XKClh1A/s1600/18acdc4c5277d0c944203a3fde2b2e86.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="524" data-original-width="497" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiHwu90eJSH-Ymdz08hCCcKV63a3vm3EFRX7IdUQmMAokfn9xUpTk4ax5L7x-Nrf0pCRuB2fMbK3CJ28AtkFL5zhitaOlYGr3c6pEdheO_U6rGqC4eta5bW9qzOXIpQ4DUwyQBM9XKClh1A/s640/18acdc4c5277d0c944203a3fde2b2e86.jpg" width="606" /></a></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<a href="https://vgnc.in/about-us/management/" target="_blank"><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 12.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Attitude &Approach</span></b></a></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Your
attitude towards accuracy <span style="mso-no-proof: yes;">influences</span> the
perception of your employees towards it. Your effort can make accuracy an
integral and crucial part of your business. Your approach can guide your <span style="mso-no-proof: yes;">employees</span> to focus on quality and accuracy at
all levels performance and decision making.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<a href="https://vgnc.in/our-services/compliance-litigation/" target="_blank"><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 12.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Defining Process</span></b></a></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">If you do
not define processes clearly, you will struggle to improve your inventory
procedure and <span style="mso-no-proof: yes;">cycle</span> as a whole. When you
define your inventory processes, you will be able to identify areas of possible
error. Process definition also helps in implementing changes to eliminate or
reduce the errors. </span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<a href="https://vgnc.in/our-services/inventory-supply-chain/" target="_blank"><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 12.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Documenting Procedures</span></b></a></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">The
documentation of procedures will help you to maintain inventory integrity.
Retailers limit their documentation to inventory issues which is a wrong
method. To maintain inventory accuracy, you must document complete procedures
which includes quality control, physical verification, <span style="mso-no-proof: yes;">and</span> safety. When you comprehensively document the <span style="mso-no-proof: yes;">complete</span> procedure<span style="mso-no-proof: yes;">, you</span> get the clear view of inventory. You also need to write down
the <span style="mso-no-proof: yes;">specific</span> responsibility of employees
doing a <span style="mso-no-proof: yes;">specific</span> task at any point in the
process.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<a href="https://vgnc.in/about-us/" target="_blank"><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 12.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Training Staff</span></b></a></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Right
staffing can <span style="mso-no-proof: yes;">optimize</span> your inventory
procedures and help you to achieve better accuracy. Apart from selecting right
employees to carry out specific jobs, you need to provide them training to help
them understand the inventory procedures.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhS8G1fKvWI7WpWt7i2TmkDITMdS2Logz74gCz9F-JZsR3Pv8-YgPdpDVhWaBWjRliEs7h1_2io0FvXfy1qAhd1NanD30B1Galacak_kJ8ECDirZWn024t9yzfyFPw87HHcpvIGwC2whqYJ/s1600/the-complete-inventory-management-guide-for-retailers-1-638.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="580" data-original-width="500" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhS8G1fKvWI7WpWt7i2TmkDITMdS2Logz74gCz9F-JZsR3Pv8-YgPdpDVhWaBWjRliEs7h1_2io0FvXfy1qAhd1NanD30B1Galacak_kJ8ECDirZWn024t9yzfyFPw87HHcpvIGwC2whqYJ/s640/the-complete-inventory-management-guide-for-retailers-1-638.jpg" width="550" /></a></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<a href="https://vgnc.in/our-services/assurance-advisory/" target="_blank"><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 12.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Monitoring forCompliance</span></b></a></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Even though
you have defined your procedures and trained your employees to perform specific
jobs, you must monitor the process for compliance. Monitoring will not only
help you to identify the <span style="mso-no-proof: yes;">activities</span> which
<span style="mso-no-proof: yes;">do</span> not comply with the defined procedures
but also pick out steps that are hindering the accuracy.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<a href="https://vgnc.in/our-services/compliance-litigation/" target="_blank"><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 12.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Set Standards</span></b></a></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Without a <span style="mso-no-proof: yes;">proper</span> set of standards, it might be difficult
for everyone involved in the inventory procedure to follow a path of minimum
accuracy. If you have standards wherever feasible, you can ensure inventory
accuracy. This is because standards help you to compare the job performed and
be critical so that errors are corrected.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<a href="https://vgnc.in/about-us/" target="_blank"><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 12.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Keep a Track of Accuracy</span></b></a></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">If you want
to achieve high levels of inventory accuracy, you need to track the accuracy.
Tracking is a tool that facilitates the <span style="mso-no-proof: yes;">improvement</span>
of both people and procedures. By tracking accuracy and communicating your
tracking results to your employees, you can build an effective system within
your <span style="mso-no-proof: yes;">organization</span>.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<a href="https://vgnc.in/our-services/assurance-advisory/internal-audit-firms/" target="_blank"><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 12.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Physical Countingand Verification</span></b></a></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">If you
implemented all the basic tips and you think you have achieved accuracy, think
again. All the above tips do not make your inventory accurate. Not necessarily.
Why? It is simple. There will be people and points where the errors or glitches
can occur and ruin the accuracy level of your inventory. Physical counting and
verification are important tools that are <span style="mso-no-proof: yes;">helpful</span>
in boosting inventory accuracy especially, cycle counting.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<a href="https://vgnc.in/industry/retail-e-commerce/" target="_blank"><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 12.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Accountability</span></b></a></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">The tips we
discussed will ensure that your processes are working in the <span style="mso-no-proof: yes;">right</span> direction but without disciplinary <span style="mso-no-proof: yes;">action,</span> it will not be effective. By defining
responsibility and accountability, you can help your employees to make
conscious decisions.</span></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">These are
some basic implements that will ensure the integrity and accuracy of your
inventory. To maintain the value of your inventory, audit and rechecking is
important. Regular revaluating of your inventory processes and procedures <span style="mso-no-proof: yes;">help</span> in providing a clear direction of your
inventory and also identify the areas of enhancements.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
</div>
Anonymoushttp://www.blogger.com/profile/14272771674522330898noreply@blogger.com0tag:blogger.com,1999:blog-6212789510390375574.post-62615504089202367812018-03-31T15:10:00.003+05:302018-03-31T15:40:13.249+05:305 Inventory Metrics that Every Retailer Should Track<div dir="ltr" style="text-align: left;" trbidi="on">
<div class="separator" style="clear: both; text-align: center;">
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List Bullet 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List Bullet 4"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List Bullet 5"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List Number 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List Number 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List Number 4"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List Number 5"/>
<w:LsdException Locked="false" Priority="10" QFormat="true" Name="Title"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Closing"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Signature"/>
<w:LsdException Locked="false" Priority="1" SemiHidden="true"
UnhideWhenUsed="true" Name="Default Paragraph Font"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Body Text"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Body Text Indent"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List Continue"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List Continue 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List Continue 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List Continue 4"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List Continue 5"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Message Header"/>
<w:LsdException Locked="false" Priority="11" QFormat="true" Name="Subtitle"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Salutation"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Date"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Body Text First Indent"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Body Text First Indent 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Note Heading"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Body Text 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Body Text 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Body Text Indent 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Body Text Indent 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Block Text"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Hyperlink"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="FollowedHyperlink"/>
<w:LsdException Locked="false" Priority="22" QFormat="true" Name="Strong"/>
<w:LsdException Locked="false" Priority="20" QFormat="true" Name="Emphasis"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Document Map"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Plain Text"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="E-mail Signature"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Top of Form"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Bottom of Form"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Normal (Web)"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Acronym"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Address"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Cite"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Code"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Definition"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Keyboard"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Preformatted"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Sample"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Typewriter"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Variable"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Normal Table"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="annotation subject"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="No List"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Outline List 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Outline List 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Outline List 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Simple 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Simple 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Simple 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Classic 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Classic 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Classic 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Classic 4"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Colorful 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Colorful 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Colorful 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Columns 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Columns 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Columns 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Columns 4"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Columns 5"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 4"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 5"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 6"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 7"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 8"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 4"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 5"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 6"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 7"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 8"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table 3D effects 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table 3D effects 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table 3D effects 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Contemporary"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Elegant"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Professional"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Subtle 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Subtle 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Web 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Web 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Web 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Balloon Text"/>
<w:LsdException Locked="false" Priority="39" Name="Table Grid"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Theme"/>
<w:LsdException Locked="false" SemiHidden="true" Name="Placeholder Text"/>
<w:LsdException Locked="false" Priority="1" QFormat="true" Name="No Spacing"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading"/>
<w:LsdException Locked="false" Priority="61" Name="Light List"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 1"/>
<w:LsdException Locked="false" Priority="61" Name="Light List Accent 1"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 1"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 1"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 1"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 1"/>
<w:LsdException Locked="false" SemiHidden="true" Name="Revision"/>
<w:LsdException Locked="false" Priority="34" QFormat="true"
Name="List Paragraph"/>
<w:LsdException Locked="false" Priority="29" QFormat="true" Name="Quote"/>
<w:LsdException Locked="false" Priority="30" QFormat="true"
Name="Intense Quote"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 1"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 1"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 1"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 1"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List Accent 1"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 1"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 1"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 1"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 2"/>
<w:LsdException Locked="false" Priority="61" Name="Light List Accent 2"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 2"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 2"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 2"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 2"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 2"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 2"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 2"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 2"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List Accent 2"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 2"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 2"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 2"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 3"/>
<w:LsdException Locked="false" Priority="61" Name="Light List Accent 3"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 3"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 3"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 3"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 3"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 3"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 3"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 3"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 3"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List Accent 3"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 3"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 3"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 3"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 4"/>
<w:LsdException Locked="false" Priority="61" Name="Light List Accent 4"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 4"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 4"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 4"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 4"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 4"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 4"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 4"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 4"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List Accent 4"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 4"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 4"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 4"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 5"/>
<w:LsdException Locked="false" Priority="61" Name="Light List Accent 5"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 5"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 5"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 5"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 5"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 5"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 5"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 5"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 5"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List Accent 5"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 5"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 5"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 5"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 6"/>
<w:LsdException Locked="false" Priority="61" Name="Light List Accent 6"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 6"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 6"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 6"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 6"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 6"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 6"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 6"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 6"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List Accent 6"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 6"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 6"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 6"/>
<w:LsdException Locked="false" Priority="19" QFormat="true"
Name="Subtle Emphasis"/>
<w:LsdException Locked="false" Priority="21" QFormat="true"
Name="Intense Emphasis"/>
<w:LsdException Locked="false" Priority="31" QFormat="true"
Name="Subtle Reference"/>
<w:LsdException Locked="false" Priority="32" QFormat="true"
Name="Intense Reference"/>
<w:LsdException Locked="false" Priority="33" QFormat="true" Name="Book Title"/>
<w:LsdException Locked="false" Priority="37" SemiHidden="true"
UnhideWhenUsed="true" Name="Bibliography"/>
<w:LsdException Locked="false" Priority="39" SemiHidden="true"
UnhideWhenUsed="true" QFormat="true" Name="TOC Heading"/>
<w:LsdException Locked="false" Priority="41" Name="Plain Table 1"/>
<w:LsdException Locked="false" Priority="42" Name="Plain Table 2"/>
<w:LsdException Locked="false" Priority="43" Name="Plain Table 3"/>
<w:LsdException Locked="false" Priority="44" Name="Plain Table 4"/>
<w:LsdException Locked="false" Priority="45" Name="Plain Table 5"/>
<w:LsdException Locked="false" Priority="40" Name="Grid Table Light"/>
<w:LsdException Locked="false" Priority="46" Name="Grid Table 1 Light"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark"/>
<w:LsdException Locked="false" Priority="51" Name="Grid Table 6 Colorful"/>
<w:LsdException Locked="false" Priority="52" Name="Grid Table 7 Colorful"/>
<w:LsdException Locked="false" Priority="46"
Name="Grid Table 1 Light Accent 1"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2 Accent 1"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3 Accent 1"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4 Accent 1"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark Accent 1"/>
<w:LsdException Locked="false" Priority="51"
Name="Grid Table 6 Colorful Accent 1"/>
<w:LsdException Locked="false" Priority="52"
Name="Grid Table 7 Colorful Accent 1"/>
<w:LsdException Locked="false" Priority="46"
Name="Grid Table 1 Light Accent 2"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2 Accent 2"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3 Accent 2"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4 Accent 2"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark Accent 2"/>
<w:LsdException Locked="false" Priority="51"
Name="Grid Table 6 Colorful Accent 2"/>
<w:LsdException Locked="false" Priority="52"
Name="Grid Table 7 Colorful Accent 2"/>
<w:LsdException Locked="false" Priority="46"
Name="Grid Table 1 Light Accent 3"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2 Accent 3"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3 Accent 3"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4 Accent 3"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark Accent 3"/>
<w:LsdException Locked="false" Priority="51"
Name="Grid Table 6 Colorful Accent 3"/>
<w:LsdException Locked="false" Priority="52"
Name="Grid Table 7 Colorful Accent 3"/>
<w:LsdException Locked="false" Priority="46"
Name="Grid Table 1 Light Accent 4"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2 Accent 4"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3 Accent 4"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4 Accent 4"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark Accent 4"/>
<w:LsdException Locked="false" Priority="51"
Name="Grid Table 6 Colorful Accent 4"/>
<w:LsdException Locked="false" Priority="52"
Name="Grid Table 7 Colorful Accent 4"/>
<w:LsdException Locked="false" Priority="46"
Name="Grid Table 1 Light Accent 5"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2 Accent 5"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3 Accent 5"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4 Accent 5"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark Accent 5"/>
<w:LsdException Locked="false" Priority="51"
Name="Grid Table 6 Colorful Accent 5"/>
<w:LsdException Locked="false" Priority="52"
Name="Grid Table 7 Colorful Accent 5"/>
<w:LsdException Locked="false" Priority="46"
Name="Grid Table 1 Light Accent 6"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2 Accent 6"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3 Accent 6"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4 Accent 6"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark Accent 6"/>
<w:LsdException Locked="false" Priority="51"
Name="Grid Table 6 Colorful Accent 6"/>
<w:LsdException Locked="false" Priority="52"
Name="Grid Table 7 Colorful Accent 6"/>
<w:LsdException Locked="false" Priority="46" Name="List Table 1 Light"/>
<w:LsdException Locked="false" Priority="47" Name="List Table 2"/>
<w:LsdException Locked="false" Priority="48" Name="List Table 3"/>
<w:LsdException Locked="false" Priority="49" Name="List Table 4"/>
<w:LsdException Locked="false" Priority="50" Name="List Table 5 Dark"/>
<w:LsdException Locked="false" Priority="51" Name="List Table 6 Colorful"/>
<w:LsdException Locked="false" Priority="52" Name="List Table 7 Colorful"/>
<w:LsdException Locked="false" Priority="46"
Name="List Table 1 Light Accent 1"/>
<w:LsdException Locked="false" Priority="47" Name="List Table 2 Accent 1"/>
<w:LsdException Locked="false" Priority="48" Name="List Table 3 Accent 1"/>
<w:LsdException Locked="false" Priority="49" Name="List Table 4 Accent 1"/>
<w:LsdException Locked="false" Priority="50" Name="List Table 5 Dark Accent 1"/>
<w:LsdException Locked="false" Priority="51"
Name="List Table 6 Colorful Accent 1"/>
<w:LsdException Locked="false" Priority="52"
Name="List Table 7 Colorful Accent 1"/>
<w:LsdException Locked="false" Priority="46"
Name="List Table 1 Light Accent 2"/>
<w:LsdException Locked="false" Priority="47" Name="List Table 2 Accent 2"/>
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<span lang="EN-GB" style="mso-ansi-language: EN-GB;">If you are
running a <a href="https://vgnc.in/our-services/inventory-supply-chain/" target="_blank">retail business, exercising inventory control and efficientlymanaging inventory</a> is of utmost importance to maintain the stability of your
business. By knowing and looking after right inventory metrics, you can avoid
both surplus and deficit in your warehouse which is cost effective.</span></div>
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<span lang="EN-GB" style="mso-ansi-language: EN-GB;">In this
post, we are going to discuss top inventory metrics that you need to track as a
retailer. Let’s get started:</span></div>
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<br /></div>
<br />
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<a href="https://vgnc.in/" target="_blank"><img alt="vgnc" border="0" data-original-height="344" data-original-width="602" height="364" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWC4SNlgfvmcDSjuniZ_av2TFBgFkBuFddOuw4p7eSF1WlergJSkztZfR2i2NyN066qi4USugn7_KvmpvREtjslGS8o_rM_pQiXqSQZVTpgd4-N9-jFBi4yrvISBcbcFQ73C0ea2cJJwOc/s640/main-qimg-e2b2ce119040638d6496d62d691c9d3c.png" width="640" /></a></div>
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<div class="MsoListParagraph" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;">1.<span style="font: 7.0pt "Times New Roman";"> </span></span></span></b><a href="https://vgnc.in/our-services/inventory-supply-chain/" target="_blank"><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Margin Return on Investment</span></b></a></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Gross
margin return on investment or GMROI helps retailers to know what they are
getting back in return in return <span style="mso-no-proof: yes;">for</span> what
they have spent. You measure the profit return you are getting the funds that
you have put in your inventory. The formula of GMROI<span style="mso-no-proof: yes;">: gross</span> returns/<span style="mso-no-proof: yes;">average</span> cost
of inventory. While there are many other inventory ratios and functions, GMROI
is one of the most crucial metric that retail owners track to <span style="mso-no-proof: yes;">optimize</span> their inventory process. </span></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span lang="EN-GB" style="mso-ansi-language: EN-GB;">By calculating GMROI,
retailers can find the proportion of profit made against the scarce resources
that take up your warehouse or <span style="mso-no-proof: yes;">storage</span>
space. </span></i></b></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">If you have
limited space, you can calculate profit generated per square foot of your
storage space that the inventory occupies. In case you have limited monetary
resources, you can streamline your inventory by focusing on profit generated
per average stock held. Thus, you can make better decisions <span style="mso-no-proof: yes;">under</span> various circumstances.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoListParagraph" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;">2.<span style="font: 7.0pt "Times New Roman";"> </span></span></span></b><a href="https://vgnc.in/our-services/inventory-supply-chain/" target="_blank"><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Inventory Turnover</span></b></a></div>
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<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Inventory
turnover or stock turn is a metric that calculates sell through against the
stock held. This metric gives a clear picture of sales versus items stocked. As
a retailer, high inventory turnover ratio is <span style="mso-no-proof: yes;">favorable</span>
for your business because it is an indicator that you are selling more than you
are stocking.</span></div>
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<b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span lang="EN-GB" style="mso-ansi-language: EN-GB;">The stock turn is
calculated using a formula: the <span style="mso-no-proof: yes;">cost</span> of
goods sold/ average inventory</span></i></b></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">You can
track your efficiency by using this formula. Higher inventory turnover ratio
means that you are investing less <span style="mso-no-proof: yes;">in</span>
inventory for generating the <span style="mso-no-proof: yes;">profitable</span>
level of sale. This ratio can be calculated for both shorter and longer time
periods (if the periods are <span style="mso-no-proof: yes;">consistent</span>).</span></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">If your
business is a highly seasonal one, you can look into shorter time periods to track
inventory in high vs. low seasons.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoListParagraph" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;">3.<span style="font: 7.0pt "Times New Roman";"> </span></span></span></b><a href="https://vgnc.in/our-services/inventory-supply-chain/" target="_blank"><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Performing Product</span></b></a></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">For a
retail owner, knowing top performing products and least performing products is
crucial. Using product performance metric, you will be able to make informed
decisions on many issues, including:</span></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l1 level1 lfo2; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: "symbol"; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">What
product should be stocked up?</span></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l1 level1 lfo2; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: "symbol"; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">What
items need a promotional push to perform better?</span></div>
<div class="MsoNormal">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://vgnc.in/" target="_blank"><img alt="vgnc" border="0" data-original-height="665" data-original-width="1000" height="424" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjVHifBHKTaxjGdXtZiiIjo9Xg4EBHcrlS7Xy76cp04cWIIeU4oduqecJkOI3e4GcMGdEcp36UB6Q_Xy1e3tKpnrx_VaHuuC4u9SkU1hXCcE8Q_FeRmThU4hhcngFl6wfPcUpE07BlCYxVH/s640/shutterstock_1249041231.jpg" width="640" /></a></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<a href="https://vgnc.in/our-services/assurance-advisory/internal-audit-firms/" target="_blank"><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Many crucial actions such as stock orders,merchandising, advertising and promoting, etc. depend on product performancemetric.</span></b></a></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">If you
apply the 80/20 rule to maintain your inventory stock, product performance is
the first metric and at times the only metric you must look at. By comparing
stock orders and sale reports, you can find top performing and slow performing
products.</span></div>
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<br /></div>
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<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Shrinkage
refers to the difference between the amount of stock appearing of the paper or
records and the actual stock available physically. This reduction in sales is
not caused by sales rather it is caused by reasons including, shoplifting,
supplier fraud, administrative errors and employee theft.</span></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="mso-ansi-language: EN-GB;"><a href="https://vgnc.in/our-services/assurance-advisory/internal-audit-firms/" target="_blank">Shrinkage is the value of physically verified inventory deducted from closing inventory valuein the books. The shrinkage in value is divided by sales and then multiplied by100 to get a percentage</a>.</span></b></div>
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<span lang="EN-GB" style="mso-ansi-language: EN-GB;">According
to many national and international standards, <span style="mso-no-proof: yes;">favorable</span>
shrinkage is 1.38%. Measuring shrinkage not only allows you to find out all the
risk factors but also helps you in finding solutions that promote inventory
accuracy.</span></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Tips to reduce shrinkage:</span></b></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l0 level1 lfo2; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: "symbol"; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">You
must regularly count your inventory to spot, prevent and address shrinkage</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo2; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: "symbol"; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Physical
verification of stock helps in reducing shrinkage to a <span style="mso-no-proof: yes;">great</span> extent</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo2; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: "symbol"; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Use
technology or hire special staff to physically count your inventory</span></div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l1 level1 lfo1; text-indent: -.25in;">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-IN" style="font-size: 14.0pt; line-height: 107%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;">2.<span style="font: 7.0pt "Times New Roman";">
</span></span></span></b><a href="https://vgnc.in/our-services/inventory-supply-chain/" target="_blank"><b style="mso-bidi-font-weight: normal;"><span lang="EN-IN" style="font-size: 14.0pt; line-height: 107%;">Sell-Through Rate</span></b></a></div>
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<span lang="EN-IN">When you put the <span style="mso-no-proof: yes;">percentage</span> of units sold against the stock available to be sold is
known as <span style="mso-no-proof: yes;">sell-through</span> rate. It is
calculated by dividing <span style="mso-no-proof: yes;">the</span> <span style="mso-no-proof: yes;">number</span> of units sold by opening stock
multiplied by 100. This metric allows retailers to make informed decisions
about slow performing products such as announcing discount. You need to focus
on improving your <span style="mso-no-proof: yes;">sell-through</span> rate.</span></div>
<div class="MsoNormal">
<span lang="EN-IN">The mentioned 5 inventory metrics allow
retailers to enhance the accuracy of their inventory and magnify the profits. <span style="mso-no-proof: yes;">Retailers</span> can improve inventory management and
inventory control by calculating these five inventory metrics.</span></div>
<br />
<br />
<div class="separator" style="clear: both; text-align: center;">
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Anonymoushttp://www.blogger.com/profile/14272771674522330898noreply@blogger.com0New Delhi, Delhi, India28.6139391 77.20902120000005228.3907261 76.886297700000057 28.8371521 77.531744700000047tag:blogger.com,1999:blog-6212789510390375574.post-6616469229991914982018-03-28T17:45:00.003+05:302018-03-28T17:50:59.779+05:3010 practical tips to optimize physical verification<div dir="ltr" style="text-align: left;" trbidi="on">
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List Bullet"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List Number"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List 4"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List 5"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List Bullet 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List Bullet 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List Bullet 4"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List Bullet 5"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List Number 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List Number 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List Number 4"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List Number 5"/>
<w:LsdException Locked="false" Priority="10" QFormat="true" Name="Title"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Closing"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Signature"/>
<w:LsdException Locked="false" Priority="1" SemiHidden="true"
UnhideWhenUsed="true" Name="Default Paragraph Font"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Body Text"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Body Text Indent"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List Continue"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List Continue 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List Continue 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List Continue 4"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="List Continue 5"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Message Header"/>
<w:LsdException Locked="false" Priority="11" QFormat="true" Name="Subtitle"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Salutation"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Date"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Body Text First Indent"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Body Text First Indent 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Note Heading"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Body Text 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Body Text 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Body Text Indent 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Body Text Indent 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Block Text"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Hyperlink"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="FollowedHyperlink"/>
<w:LsdException Locked="false" Priority="22" QFormat="true" Name="Strong"/>
<w:LsdException Locked="false" Priority="20" QFormat="true" Name="Emphasis"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Document Map"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Plain Text"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="E-mail Signature"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Top of Form"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Bottom of Form"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Normal (Web)"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Acronym"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Address"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Cite"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Code"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Definition"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Keyboard"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Preformatted"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Sample"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Typewriter"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="HTML Variable"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Normal Table"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="annotation subject"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="No List"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Outline List 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Outline List 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Outline List 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Simple 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Simple 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Simple 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Classic 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Classic 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Classic 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Classic 4"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Colorful 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Colorful 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Colorful 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Columns 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Columns 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Columns 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Columns 4"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Columns 5"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 4"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 5"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 6"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 7"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Grid 8"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 4"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 5"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 6"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 7"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table List 8"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table 3D effects 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table 3D effects 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table 3D effects 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Contemporary"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Elegant"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Professional"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Subtle 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Subtle 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Web 1"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Web 2"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Web 3"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Balloon Text"/>
<w:LsdException Locked="false" Priority="39" Name="Table Grid"/>
<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
Name="Table Theme"/>
<w:LsdException Locked="false" SemiHidden="true" Name="Placeholder Text"/>
<w:LsdException Locked="false" Priority="1" QFormat="true" Name="No Spacing"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading"/>
<w:LsdException Locked="false" Priority="61" Name="Light List"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 1"/>
<w:LsdException Locked="false" Priority="61" Name="Light List Accent 1"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 1"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 1"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 1"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 1"/>
<w:LsdException Locked="false" SemiHidden="true" Name="Revision"/>
<w:LsdException Locked="false" Priority="34" QFormat="true"
Name="List Paragraph"/>
<w:LsdException Locked="false" Priority="29" QFormat="true" Name="Quote"/>
<w:LsdException Locked="false" Priority="30" QFormat="true"
Name="Intense Quote"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 1"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 1"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 1"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 1"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List Accent 1"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 1"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 1"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 1"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 2"/>
<w:LsdException Locked="false" Priority="61" Name="Light List Accent 2"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 2"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 2"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 2"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 2"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 2"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 2"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 2"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 2"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List Accent 2"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 2"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 2"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 2"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 3"/>
<w:LsdException Locked="false" Priority="61" Name="Light List Accent 3"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 3"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 3"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 3"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 3"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 3"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 3"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 3"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 3"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List Accent 3"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 3"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 3"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 3"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 4"/>
<w:LsdException Locked="false" Priority="61" Name="Light List Accent 4"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 4"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 4"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 4"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 4"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 4"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 4"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 4"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 4"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List Accent 4"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 4"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 4"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 4"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 5"/>
<w:LsdException Locked="false" Priority="61" Name="Light List Accent 5"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 5"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 5"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 5"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 5"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 5"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 5"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 5"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 5"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List Accent 5"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 5"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 5"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 5"/>
<w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 6"/>
<w:LsdException Locked="false" Priority="61" Name="Light List Accent 6"/>
<w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 6"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 6"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 6"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 6"/>
<w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 6"/>
<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 6"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 6"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 6"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List Accent 6"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 6"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 6"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 6"/>
<w:LsdException Locked="false" Priority="19" QFormat="true"
Name="Subtle Emphasis"/>
<w:LsdException Locked="false" Priority="21" QFormat="true"
Name="Intense Emphasis"/>
<w:LsdException Locked="false" Priority="31" QFormat="true"
Name="Subtle Reference"/>
<w:LsdException Locked="false" Priority="32" QFormat="true"
Name="Intense Reference"/>
<w:LsdException Locked="false" Priority="33" QFormat="true" Name="Book Title"/>
<w:LsdException Locked="false" Priority="37" SemiHidden="true"
UnhideWhenUsed="true" Name="Bibliography"/>
<w:LsdException Locked="false" Priority="39" SemiHidden="true"
UnhideWhenUsed="true" QFormat="true" Name="TOC Heading"/>
<w:LsdException Locked="false" Priority="41" Name="Plain Table 1"/>
<w:LsdException Locked="false" Priority="42" Name="Plain Table 2"/>
<w:LsdException Locked="false" Priority="43" Name="Plain Table 3"/>
<w:LsdException Locked="false" Priority="44" Name="Plain Table 4"/>
<w:LsdException Locked="false" Priority="45" Name="Plain Table 5"/>
<w:LsdException Locked="false" Priority="40" Name="Grid Table Light"/>
<w:LsdException Locked="false" Priority="46" Name="Grid Table 1 Light"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark"/>
<w:LsdException Locked="false" Priority="51" Name="Grid Table 6 Colorful"/>
<w:LsdException Locked="false" Priority="52" Name="Grid Table 7 Colorful"/>
<w:LsdException Locked="false" Priority="46"
Name="Grid Table 1 Light Accent 1"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2 Accent 1"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3 Accent 1"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4 Accent 1"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark Accent 1"/>
<w:LsdException Locked="false" Priority="51"
Name="Grid Table 6 Colorful Accent 1"/>
<w:LsdException Locked="false" Priority="52"
Name="Grid Table 7 Colorful Accent 1"/>
<w:LsdException Locked="false" Priority="46"
Name="Grid Table 1 Light Accent 2"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2 Accent 2"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3 Accent 2"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4 Accent 2"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark Accent 2"/>
<w:LsdException Locked="false" Priority="51"
Name="Grid Table 6 Colorful Accent 2"/>
<w:LsdException Locked="false" Priority="52"
Name="Grid Table 7 Colorful Accent 2"/>
<w:LsdException Locked="false" Priority="46"
Name="Grid Table 1 Light Accent 3"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2 Accent 3"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3 Accent 3"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4 Accent 3"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark Accent 3"/>
<w:LsdException Locked="false" Priority="51"
Name="Grid Table 6 Colorful Accent 3"/>
<w:LsdException Locked="false" Priority="52"
Name="Grid Table 7 Colorful Accent 3"/>
<w:LsdException Locked="false" Priority="46"
Name="Grid Table 1 Light Accent 4"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2 Accent 4"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3 Accent 4"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4 Accent 4"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark Accent 4"/>
<w:LsdException Locked="false" Priority="51"
Name="Grid Table 6 Colorful Accent 4"/>
<w:LsdException Locked="false" Priority="52"
Name="Grid Table 7 Colorful Accent 4"/>
<w:LsdException Locked="false" Priority="46"
Name="Grid Table 1 Light Accent 5"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2 Accent 5"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3 Accent 5"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4 Accent 5"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark Accent 5"/>
<w:LsdException Locked="false" Priority="51"
Name="Grid Table 6 Colorful Accent 5"/>
<w:LsdException Locked="false" Priority="52"
Name="Grid Table 7 Colorful Accent 5"/>
<w:LsdException Locked="false" Priority="46"
Name="Grid Table 1 Light Accent 6"/>
<w:LsdException Locked="false" Priority="47" Name="Grid Table 2 Accent 6"/>
<w:LsdException Locked="false" Priority="48" Name="Grid Table 3 Accent 6"/>
<w:LsdException Locked="false" Priority="49" Name="Grid Table 4 Accent 6"/>
<w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark Accent 6"/>
<w:LsdException Locked="false" Priority="51"
Name="Grid Table 6 Colorful Accent 6"/>
<w:LsdException Locked="false" Priority="52"
Name="Grid Table 7 Colorful Accent 6"/>
<w:LsdException Locked="false" Priority="46" Name="List Table 1 Light"/>
<w:LsdException Locked="false" Priority="47" Name="List Table 2"/>
<w:LsdException Locked="false" Priority="48" Name="List Table 3"/>
<w:LsdException Locked="false" Priority="49" Name="List Table 4"/>
<w:LsdException Locked="false" Priority="50" Name="List Table 5 Dark"/>
<w:LsdException Locked="false" Priority="51" Name="List Table 6 Colorful"/>
<w:LsdException Locked="false" Priority="52" Name="List Table 7 Colorful"/>
<w:LsdException Locked="false" Priority="46"
Name="List Table 1 Light Accent 1"/>
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<span lang="EN-GB" style="mso-ansi-language: EN-GB;"><a href="https://vgnc.in/our-services/inventory-supply-chain/" target="_blank">Physical verification of inventory</a> is an uphill task for retailers. Being a tedious
task, it not only takes hours but is also a function with higher possibilities
of making errors. Although physical verification is a difficult task, taking a <span style="mso-no-proof: yes;">physical</span> count of inventory is a must. As a
business operating in the <span style="mso-no-proof: yes;">retail</span> sector,
you might already be aware that there are various challenges in the process of
physical verification.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">To make the
physical verification task easier for you, we have noted down few practical
tips that you can establish <span style="mso-no-proof: yes;">in</span> your
inventory verification and counting process. Let’s check them out:</span></div>
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<br /></div>
<div class="MsoListParagraph" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;">1 <a href="https://vgnc.in/our-services/inventory-supply-chain/" target="_blank">1. <span style="font: 7.0pt "Times New Roman";"></span></a></span></span></b><a href="https://vgnc.in/our-services/inventory-supply-chain/" target="_blank"><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Cycle counting helps in streamliningphysical counting of inventory</span></b></a></div>
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<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Partial
stock taking or cycle counting is a process of counting inventory continuously
to monitor the stock levels without causing an <span style="mso-no-proof: yes;">interruption</span>
in the flow of your business operation. Cycle counting is one of the most
efficient <span style="mso-no-proof: yes;">stocks taking</span> methods for
retailers. It allows a better inventory control.</span></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">In case
cycle counting is not practical for you, you can use the other tips mentioned
below to <span style="mso-no-proof: yes;">optimize</span> your physical
verification process.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjhDIvSCkXIHz6Jy7bRfz9nAgAelq0Nk1sJ6blaxImVO-SZrLZDAR1U9xEZ0OzXrxX_LlC2nLcGpqlfUpV5ZLAMo6hyphenhyphenbNKGffGUPrGFO0WiV3inbFjOLLA9bSN-sBAzvmKksw5PsAbcusB0/s1600/d007eaa547d9484369c05353b0813080--fixed-asset-accounting.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="404" data-original-width="564" height="457" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjhDIvSCkXIHz6Jy7bRfz9nAgAelq0Nk1sJ6blaxImVO-SZrLZDAR1U9xEZ0OzXrxX_LlC2nLcGpqlfUpV5ZLAMo6hyphenhyphenbNKGffGUPrGFO0WiV3inbFjOLLA9bSN-sBAzvmKksw5PsAbcusB0/s640/d007eaa547d9484369c05353b0813080--fixed-asset-accounting.jpg" width="640" /></a></div>
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<div class="MsoListParagraph" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<a href="https://vgnc.in/our-services/inventory-supply-chain/" target="_blank">1 2. Incorporate stock taking technologiesand systems</a></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Traditionally,
retailers used pen and paper for physical counting of inventory. This method of
staff tallying the inventory sheets to reconcile the data in their system with
the actual physical inventory is tedious. </span></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Making
double entry was one of the major causes of inefficiency in the <span style="mso-no-proof: yes;">traditional</span> method.<span style="mso-spacerun: yes;"> </span>And not to mention, the scope of human error.
With the advancement of technology, retailers can use inventory scanners or
other stock counting technology to make physical verification of inventory easy
and effective.</span></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">If you
invest in stock taking technologies, you can <span style="mso-no-proof: yes;">optimize</span>
the whole chain which turns out to be <span style="mso-no-proof: yes;">cost-effective</span>
in the longer run. You can also incorporate these tools <span style="mso-no-proof: yes;">into</span> an integrated business solution. This will allow you to handle
your inventory’s physical counting and accounting aspects simultaneously.</span></div>
<div class="MsoListParagraph" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;">2</span></span></b></div>
<div class="MsoListParagraph" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;"><span style="font: 7.0pt "Times New Roman";"> </span></span></span></b><a href="https://vgnc.in/our-services/inventory-supply-chain/" target="_blank"><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB;">3. Hiring the right people for the <span style="mso-no-proof: yes;">right</span> task</span></b></a></div>
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<span lang="EN-GB" style="mso-ansi-language: EN-GB;">When you
are choosing staff for physical counting, you need to choose right people for such
a crucial task. Many small and medium retail businesses have a habit of assign
the inventory counting task to their regular employees which proves to be a
huge mistake. You need to hire seasoned employees for this task who are
familiar with such detailed task. </span></div>
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<br /></div>
<div class="MsoListParagraph" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;">3 <a href="https://vgnc.in/our-services/inventory-supply-chain/" target="_blank">4. <span style="font: 7.0pt "Times New Roman";"></span></a></span></span></b><a href="https://vgnc.in/our-services/inventory-supply-chain/" target="_blank"><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB;"> Well-scheduled physical inventory atregular intervals</span></b></a></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">If you are
conducting a full physical verification of inventory, you must schedule it an
effective manner. Often, SMEs fail to properly plan their physical verification
causing them problems which <span style="mso-no-proof: yes;">affect</span> the
whole business operation cycle. They can regularise their physical verification
with some assistance from physical verification or inventory consultants.</span></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">You need to
schedule your full physical counting efficiently to reap all the benefits from
it. Apart from scheduling it strategically, you need to conduct it at regular
intervals to keep up with your stock levels.</span></div>
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<br /></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;">4 <a href="https://vgnc.in/our-services/assurance-advisory/" target="_blank"> 5. <span style="font: 7.0pt "Times New Roman";"></span></a></span></span></b><a href="https://vgnc.in/our-services/assurance-advisory/" target="_blank"><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB;">List down the inventory goods intransit or damaged goods</span></b></a></div>
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<span lang="EN-GB" style="mso-ansi-language: EN-GB;">When you
are physically counting your inventory, one of the most common mistake you can
make <span style="mso-no-proof: yes;">is skipping</span> some categories of
inventory from the count.<span style="mso-spacerun: yes;"> </span>Items that are
in transit, returning or are damaged get skipped during the count which is not
the right method. You need to count these good to avoid confusion later.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoListParagraph" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;">5 <a href="https://vgnc.in/our-services/assurance-advisory/" target="_blank">6. <span style="font: 7.0pt "Times New Roman";"></span></a></span></span></b><a href="https://vgnc.in/our-services/assurance-advisory/" target="_blank"><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Rechecking after count</span></b></a></div>
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<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Double
checking and auditing your inventory counts as soon as possible is important to
ensure the accuracy of your inventory. Not only auditing your inventory
improves the efficiency of your inventory counting but also allows better
control over it.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoListParagraph" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;">6 <a href="http://7. Analysing inventory reports" target="_blank">7. <span style="font: 7.0pt "Times New Roman";"></span></a></span></span></b><a href="http://7. Analysing inventory reports" target="_blank"><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Analysing inventory reports</span></b></a></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Inventory
reporting is an essential in the <span style="mso-no-proof: yes;">retail</span>
industry as it enhances inventory control. Pulling up inventory data and <span style="mso-no-proof: yes;">analyzing</span> it helps in obtaining actionable
insights. This also helps you to <span style="mso-no-proof: yes;">pinpoint</span>
the <span style="mso-no-proof: yes;">high-risk</span> zones allowing to <span style="mso-no-proof: yes;">minimize</span> your losses. </span></div>
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<span lang="EN-GB" style="mso-ansi-language: EN-GB;">By
comparing multiple inventory count reports, you can identify patterns that are
causing losses. You can use the physical verification data and report insights
to take preventive actions.</span></div>
<br />
<br />
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://vgnc.in/our-services/assurance-advisory/" target="_blank"><img alt="Analysing inventory reports" border="0" data-original-height="664" data-original-width="960" height="442" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjVQWYjhjHYBqhlh4yBkN-Z29yzWhzVhwcYQlevWVUZO0I2jrxW5lpZZEC0DhKrYPl6brzoVJLeN0deiKfdkZGSErkHYDRtcXUXwsUohZhPhGSZGB5_GUHtUxMBbsfEzKeoW7T1qr4FGSjd/s640/slide_5.jpg" width="640" /></a></div>
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<style>
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table.MsoNormalTable
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mso-ascii-font-family:Calibri;
mso-ascii-theme-font:minor-latin;
mso-hansi-font-family:Calibri;
mso-hansi-theme-font:minor-latin;
mso-bidi-font-family:"Times New Roman";
mso-bidi-theme-font:minor-bidi;
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<div class="MsoListParagraph" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;">1 <a href="https://vgnc.in/our-services/compliance-litigation/" target="_blank"> 8. <span style="font: 7.0pt "Times New Roman";"></span></a></span></span></b><a href="https://vgnc.in/our-services/compliance-litigation/" target="_blank"><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB;"> Map your inventory store</span></b></a></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Before you
start physical verification of inventory, you need to map or sketch out your
warehouse or store. Mapping will provide you a handy checklist of which places
you have to cover and products you have to count. It will also make delegation
of work easier. You can assign different sections to different people.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoListParagraph" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;">2 <a href="https://vgnc.in/our-services/compliance-litigation/" target="_blank">9. <span style="font: 7.0pt "Times New Roman";"></span></a></span></span></b><a href="https://vgnc.in/our-services/compliance-litigation/" target="_blank"><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB;"> Focus on <span style="mso-no-proof: yes;">labeling</span> and shelving</span></b></a></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Now, you
must understand that you cannot complete the physical verification task
efficiently if you are blind. Well, if your warehouse or store is not <span style="mso-no-proof: yes;">organized</span> it is making you blind towards many
items that are physically present but not counted. To solve such situation, you
need to <span style="mso-no-proof: yes;">organize</span> your warehouse or store
by adding shelves and boxes to store the items. You must also label or mark
these boxes and shelves for easy identification.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoListParagraph" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;">3 <a href="https://vgnc.in/our-services/compliance-litigation/" target="_blank">10. <span style="font: 7.0pt "Times New Roman";"></span></a></span></span></b><a href="https://vgnc.in/our-services/compliance-litigation/" target="_blank"><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB;">80/20 principle</span></b></a></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Depending
on your industry, you can apply 80/20 principle. 80% sales <span style="mso-no-proof: yes;">come</span> from 20% stock in <span style="mso-no-proof: yes;">various</span> <span style="mso-no-proof: yes;">industries</span>. Thus,
purchase of inventory can be decided by <span style="mso-no-proof: yes;">analyzing</span>
sales pattern. If you apply this principle, you must purchase a greater
percentage of the items which are popular among your customers or have higher
sales. Ordering higher percentage of those items will save cost due to a <span style="mso-no-proof: yes;">single</span> order.</span></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">A smooth
and effective physical verification process <span style="mso-no-proof: yes;">does</span>
not happen by chance. You will have to invest your time to plan it and upgrade
it from time to time. A robust physical inventory process can add value to your
retail business.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjRHRlHHAX7WJxBnQPO6PkXxWx1z0FHSHPxtNaZYATWJ8MMd40T6VwaA-ofQsv_sXeFxZmBo0efFfJLRuccjlVm6p3FMbGMfuwA7_zefU91imv6VEHl3CTTRPEp1GSL0_0GHi_k4ozXmqGn/s1600/eebece5fe79a2920582a608998051c0c.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="435" data-original-width="660" height="420" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjRHRlHHAX7WJxBnQPO6PkXxWx1z0FHSHPxtNaZYATWJ8MMd40T6VwaA-ofQsv_sXeFxZmBo0efFfJLRuccjlVm6p3FMbGMfuwA7_zefU91imv6VEHl3CTTRPEp1GSL0_0GHi_k4ozXmqGn/s640/eebece5fe79a2920582a608998051c0c.jpg" width="640" /></a></div>
<div class="MsoNormal">
<br /></div>
<br />
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;"> </span>For more details visit us at: <a data-ft="{"tn":"-U"}" data-lynx-mode="asynclazy" href="https://l.facebook.com/l.php?u=https%3A%2F%2Fgoo.gl%2Fx49AJg&h=ATNAXSq9iKh93hQxZ5MjhjQ7moFfJZoVJulRd1QEAy-S9eyrodzllsFArvz7zWXSwrrWQ49M02dru9qb0L-ZOz4qHEN5WDSXSRVPWV3MX9OvXNzgGKB84BnbtKgfKgfJUeu992bw" rel="nofollow" target="_blank">https://goo.gl/x49AJg</a><br />
or contact us : 9810666554, 7668010101<br />
Email : info@vgnc.in , vgnc@vgnc.in</div>
<div class="MsoNormal">
<br /></div>
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Anonymoushttp://www.blogger.com/profile/14272771674522330898noreply@blogger.com0tag:blogger.com,1999:blog-6212789510390375574.post-79114927113679942602018-03-16T11:57:00.002+05:302018-03-29T11:58:38.632+05:30Inventory and Supply Chain Consultancy Service in Delhi NCR<div dir="ltr" style="text-align: left;" trbidi="on">
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<a href="https://vgnc.in/our-services/inventory-supply-chain/" target="_blank"><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 20.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Inventory andSupply Chain Consultancy Service in Delhi NCR</span></b></a></div>
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<span lang="EN-GB" style="mso-ansi-language: EN-GB;">VGNC has
carved out distinct reputation when it comes to providing comprehensive
advisory services to clients in the <span style="mso-no-proof: yes;">retail</span>
industry. Based at Delhi NCR, we are a leading business advisory firm offering
inventory and supply chain consultancy services all across Delhi and
neighbouring areas.</span></div>
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<a href="https://vgnc.in/our-services/inventory-supply-chain/" target="_blank"><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 12.0pt; line-height: 107%; mso-ansi-language: EN-GB;">We are aleading inventory and supply chain consultancy providing firm.</span></b></a></div>
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<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Our
diligently designed services are in tune with constantly changing retail and
apparel industry of India. With our extensive knowledge about the complexities <span style="mso-no-proof: yes;">of</span> the business operating in the dynamism of
the retail industry in India, we help our clients to maintain inventory
accuracy. Physical verification of stock and fixed asset in stores and warehouses,
analysis of the <span style="mso-no-proof: yes;">various</span> operation,
identification of flaw points, reliable physical verification, and inventory
and supply chain consultancy services in Delhi NCR.</span></div>
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<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Our robust
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<img border="0" data-original-height="628" data-original-width="1200" height="334" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh5COkMGkDssbvc7qtLs0y_iYjp8OPAIxrnbTamyGNL3utT23g9gMBrZ_eLZmMB1K4zNwJAKGZZbWeW1JZs8A1ThDOHleWh3iBcN9UKhos8rvVm2McWcI3ROa5gDQWjSUxd_fsofvkxZ-9_/s640/internal-Audit-explaination.jpg" width="640" /><a href="https://vgnc.in/our-services/inventory-supply-chain/" target="_blank">Physical Verification of Fixed Assets, Delhi NCR</a></div>
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<w:LsdException Locked="false" Priority="9" SemiHidden="true"
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<w:LsdException Locked="false" Priority="9" SemiHidden="true"
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<w:LsdException Locked="false" Priority="9" SemiHidden="true"
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<w:LsdException Locked="false" Priority="9" SemiHidden="true"
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<w:LsdException Locked="false" Priority="9" SemiHidden="true"
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<w:LsdException Locked="false" Priority="9" SemiHidden="true"
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<w:LsdException Locked="false" Priority="9" SemiHidden="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" Priority="39" SemiHidden="true"
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<w:LsdException Locked="false" Priority="39" SemiHidden="true"
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<w:LsdException Locked="false" Priority="39" SemiHidden="true"
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<w:LsdException Locked="false" Priority="39" SemiHidden="true"
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<w:LsdException Locked="false" Priority="39" SemiHidden="true"
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<w:LsdException Locked="false" Priority="39" SemiHidden="true"
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<w:LsdException Locked="false" Priority="39" SemiHidden="true"
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<w:LsdException Locked="false" Priority="39" SemiHidden="true"
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<w:LsdException Locked="false" Priority="39" SemiHidden="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" Priority="35" SemiHidden="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" Priority="1" SemiHidden="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" Priority="62" Name="Light Grid"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1"/>
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<w:LsdException Locked="false" SemiHidden="true" Name="Revision"/>
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<w:LsdException Locked="false" Priority="30" QFormat="true"
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<w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 6"/>
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<w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 6"/>
<w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 6"/>
<w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 6"/>
<w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 6"/>
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<w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 6"/>
<w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 6"/>
<w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 6"/>
<w:LsdException Locked="false" Priority="70" Name="Dark List Accent 6"/>
<w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 6"/>
<w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 6"/>
<w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 6"/>
<w:LsdException Locked="false" Priority="19" QFormat="true"
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<w:LsdException Locked="false" Priority="21" QFormat="true"
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<w:LsdException Locked="false" Priority="31" QFormat="true"
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<w:LsdException Locked="false" Priority="32" QFormat="true"
Name="Intense Reference"/>
<w:LsdException Locked="false" Priority="33" QFormat="true" Name="Book Title"/>
<w:LsdException Locked="false" Priority="37" SemiHidden="true"
UnhideWhenUsed="true" Name="Bibliography"/>
<w:LsdException Locked="false" Priority="39" SemiHidden="true"
UnhideWhenUsed="true" QFormat="true" Name="TOC Heading"/>
<w:LsdException Locked="false" Priority="41" Name="Plain Table 1"/>
<w:LsdException Locked="false" Priority="42" Name="Plain Table 2"/>
<w:LsdException Locked="false" Priority="43" Name="Plain Table 3"/>
<w:LsdException Locked="false" Priority="44" Name="Plain Table 4"/>
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<a href="https://vgnc.in/our-services/inventory-supply-chain/" target="_blank"><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 16.0pt; line-height: 107%; mso-ansi-language: EN-GB;">VGNC Approach</span></b></a></div>
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<br /></div>
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<b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Accuracy is
the key</span></i></b></div>
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<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Accuracy is
the key element in inventory control and supply chain <span style="mso-no-proof: yes;">optimization</span>. To maintain accuracy in dynamic Indian retail <span style="mso-no-proof: yes;">scene</span> is an uphill task. You will also be <span style="mso-no-proof: yes;">hard-pressed</span> to find a reliable business
advisory firm. VGNC has become the first choice of business looking for
trustworthy inventory and supply chain consultancy service in Delhi NCR to
achieve efficiency in inventory control and supply chain management. We focus
on effective physical verification of stock and assets to facilitate your
growth</span></div>
<br />
<div class="separator" style="clear: both; text-align: center;">
<img border="0" data-original-height="628" data-original-width="1200" height="334" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEioMZL8iOg9Hh2zsYcNqWGSMRArupE-2IAf0mcDJ0cwFS5805G5axSdN3nMQ7JImnjrXidPjqG6IbO-_DaI11XZxK8tkhupnnMtKNLpcNPzqbZ97koND3-UMoMzAe17kXCmuCluOJ2X1e12/s640/inventory-control-n-physicl-verification-02.jpg" width="640" /><a href="https://vgnc.in/our-services/inventory-supply-chain/" target="_blank">Inventory Management in Retail Store</a></div>
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<a href="https://vgnc.in/our-services/inventory-supply-chain/" target="_blank"><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 16.0pt; line-height: 107%; mso-ansi-language: EN-GB;">How VGNCbrings Accuracy to your inventory and supply chain?</span></b></a></div>
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<br /></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: "symbol"; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Our
team of experts <span style="mso-no-proof: yes;">is analyzing</span> every
crucial point of your inventory operation to highlight faulty areas and provide
consultancy to <span style="mso-no-proof: yes;">optimize</span> inventory
control.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: "symbol"; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">We
adhere to a <span style="mso-no-proof: yes;">strict</span> set of guidelines
while proving services that <span style="mso-no-proof: yes;">include</span>
physical verification consultancy services, cycle counting, physical
verification of fixed assets, physical verification of stock, physical
verification of store & warehouse and inventory management in a <span style="mso-no-proof: yes;">retail</span> store.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: "symbol"; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">While
delivering our inventory, supply chain, <span style="mso-no-proof: yes;">and</span>
physical verification consultancy services, we ensure that our approach suits
the exact needs of our client.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: "symbol"; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">All
our consulting services are adopted after detailed analysis of our client’s
business requirement. </span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: "symbol"; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">We,
at VGNC, work with an objective to become growth partners of our clients
operating in the retail & apparel industry. And to stay true to our
objective, we offer highest quality service and maintain reliability and
communication at all stages.</span></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: "symbol"; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Our
team follows a continuous analysis, trial and testing method throughout the
audit and verification procedures to maintain the accuracy levels.</span></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Bring
accuracy to your inventory and supply chain function with VGNC, <span style="background: yellow; mso-highlight: yellow;">call us today!</span></span></div>
<div class="MsoNormal">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<img border="0" data-original-height="628" data-original-width="1200" height="334" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhcj5EVsbNoVvMI38yvTYyhkQKo4tUIKBI8t5w7nszr0Z8FL8xQ2qG0WfE8GpZmyGTNRpIG4yzKJbyq0ayZNTGfpfEltVVHbKWqXYmSTifxX-5weAfitInv9Brf3omh8KjmWQ9QxeCisLXq/s640/financial-Advisory-firm-02.jpg" width="640" /><a href="https://vgnc.in/our-services/inventory-supply-chain/" target="_blank"> inventory and supply chain consultancy services, Delhi NCR</a></div>
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Anonymoushttp://www.blogger.com/profile/14272771674522330898noreply@blogger.com0tag:blogger.com,1999:blog-6212789510390375574.post-62606535883295504602018-02-23T12:02:00.002+05:302018-02-23T12:02:25.229+05:30Finance in Digital World: VGNC Perspective<div dir="ltr" style="text-align: left;" trbidi="on">
<div class="separator" style="clear: both; text-align: center;">
<a href="http://vgnc.in/finance-digital-world-vgnc-perspective/" target="_blank"><img alt="Financial services" border="0" data-original-height="716" data-original-width="960" height="476" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhxO6rBYGQZvlFhY_e_fN3j775XbQvjKqfY-0PY0LHCJru3EKClXlhlGiC_WnB5lf_B57aInsrrvBgMQReZh8YjFcGXeWI4pyKQ4BK7yPhFit2H__PxPzF-k-bvHf9eMTA34a29pUTAkf3I/s640/Finance.jpg" width="640" /></a></div>
<br />
<div class="separator" style="clear: both; text-align: center;">
<br /></div>
<br />
The <a href="http://vgnc.in/finance-digital-world-vgnc-perspective/" rel="noopener" target="_blank">finance sector</a> has started to shift in the dramatic and dynamic waywith the launch of ‘<a href="http://vgnc.in/" rel="noopener" target="_blank">Digital India</a>’ Initiative of the Government. The situation, however, is a little bit confusing as the digitization is sudden yet profound.<br />
“India is stepping into the future of finance along with the world. And the future is – digital. We need to keep up with it.” – <a href="http://vgnc.in/" rel="noopener" target="_blank">VGNC</a> team<br />
It may seem futuristic but at the threshold of the whole process –
alignment is missing in reality and conception. The finance leaders and
experts across the world are redefining the traditional structure and
are slowly adopting the existing technologies of modern times. Business
advisories are experimenting with exponential technologies to keep up
with the <a href="http://vgnc.in/our-services/inventory-supply-chain/" rel="noopener" target="_blank">digital dexterity.</a><br />
We, at VGNC, have identified key trends to assist our client to
transcend into the digital world and to define the future of finance.
For easier and smoother adoption of technologies, it is important to
contextualize the whole discussion about digital finance from an
Indianperspective.Here is an interesting snippet of our research and
expert overview of the scenario by VGNC team.<br />
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="http://vgnc.in/our-services/assurance-advisory/" target="_blank"><img alt="Litigation services" border="0" data-original-height="868" data-original-width="1002" height="554" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhmYHj-PZSXtC3PWF69knGcnE-ZLPG2uPR8qKb9YdoWD2qZFzRoy19F0IvkzAX3KinHmvHSD_SJvKtx1HA3Zc2g7YCw97lSWCTx9gUcSKsbqBYy5Q6QryYJWcgBbRLY_HJudyXjZJeviyBf/s640/financeial.jpg" width="640" /></a></div>
<br />
<strong><em><a href="http://vgnc.in/our-services/assurance-advisory/" rel="noopener" target="_blank">Themes of Digitization in Finance</a></em></strong><br />
There are four major themes of digital evolution in finance which are discussed below:<br />
<ul>
<li>Dilemma created by data</li>
<li>Evolving role of leaders and experts</li>
<li>Technologies that will define the future of digitalized finance sector</li>
<li>Need to create a bridge between acumen and perceptivity</li>
</ul>
<strong><a href="http://vgnc.in/finance-digital-world-vgnc-perspective/" rel="noopener" target="_blank">Dilemma Created by Data</a></strong><br />
It is an uphill task for financial organizations to keep pace with
the evolving requirements of businesses in the technologically defined
world. The root of the problem lies in how data is received and
processed.<br />
<strong>Problems:</strong><br />
<ul>
<li>Unstructured and high volume data received in digital economy</li>
<li>Lack of analytical tools to decipher the data received</li>
<li>Sudden change in business dynamics in India with growing digital finance trend</li>
<li>Traditional finance talent including skills of compliance and bookkeeping are developing data sensitivity</li>
<li>Complexity of grappling with dependability on master data (For
example, tax credit being deprived due to inability of automated set off
in GSTN)</li>
</ul>
<strong>Solutions:</strong><br />
<ul>
<li>Transitioning from traditional to digital is a cultural shift and
needs to be lead from the top.The decision making shall be made more
insight driven.</li>
<li>Data analysis and science skills must be induced by finance teams.</li>
<li>A thorough scan of data and data related inconsistencies need to be undertaken to ensure discipline and transparency.</li>
</ul>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiludeZaMzwhwul6cF5YUwESbeO5ec22ZOWhZBXqANMbslrjPjLcie0IXYCY7Tvp0wREAGAINuWRSNLmLUdV9ZgTU-JyiXQTlDNDKPhFXdVwQgPO_Srhxr06ZRMK7GmM_17JQEjtsVIV7ZP/s1600/Untitled-1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="836" data-original-width="1200" height="444" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiludeZaMzwhwul6cF5YUwESbeO5ec22ZOWhZBXqANMbslrjPjLcie0IXYCY7Tvp0wREAGAINuWRSNLmLUdV9ZgTU-JyiXQTlDNDKPhFXdVwQgPO_Srhxr06ZRMK7GmM_17JQEjtsVIV7ZP/s640/Untitled-1.jpg" width="640" /></a></div>
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Anonymoushttp://www.blogger.com/profile/14272771674522330898noreply@blogger.com0tag:blogger.com,1999:blog-6212789510390375574.post-4686947727524332912018-02-21T15:26:00.003+05:302018-02-22T18:02:16.564+05:30E-Litigation Portal by VGNC: Online Model to Resolve Compliance Issues<div dir="ltr" style="text-align: left;" trbidi="on">
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<a href="http://vgnc.in/our-services/compliance-litigation/" target="_blank"><img alt="E-Litigation Portal by VGNC: Online Model to Resolve Compliance Issues" border="0" data-original-height="349" data-original-width="419" height="532" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjDPsSJLrjecDdRYg2XmHPWX7LEy_6ZjVtE1e5ube_78SC-1fdKxmbY3jtSPngPIRVX7q_FkLtCyZshSvY0hcT4Tjp97qvyuwm3TA-xzW0HOUat8AiVvCyvmkHUpap87FjXi8f4stFemG_d/s640/VGNC+LinkedIn+3.png" width="640" /></a></div>
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<div class="Body">
In current Indian scenario, businesses have to operate in a dynamic
market with increasing participation of technology. Under these circumstances,
legal and regulatory framework are also changing rapidly and call for a robust
compliance. As the industry is evolving, so are laws.<span style="mso-spacerun: yes;"> </span>Latest in line is the proposal of e-assessments
under Income Tax Law. And to keep up with this evolving industry, business need
to rely on real-time compliance for effectivity. ‘Digital India’ Initiative and
global reforms are bringing the focus on acceleration in the <span lang="FR" style="mso-ansi-language: FR;">completion</span> of the <span lang="PT" style="mso-ansi-language: PT;">process</span>. With the digitization of various
processes, it is quite easy to achieve the fast pace in different vectors of
business procedures and advisory.</div>
<div class="Body">
When it comes to litigation, business has to face a dead end as <span style="color: #00b0f0;"><a href="http://vgnc.in/our-services/compliance-litigation/">litigation</a></span>
cases often come out to be time-consuming. Much of management’s time is
consumed by the <span lang="FR" style="mso-ansi-language: FR;">uncertainty</span>
of action and roaming around to look for right guidance. This is not only a
waste of time and effort but also is the very vulnerable situation. </div>
<div class="Body">
<br /></div>
<div class="Body">
<a href="http://vgnc.in/our-services/compliance-litigation/" target="_blank"><b><span style="font-size: 14.0pt; line-height: 107%;">RobustSolution for Litigation Cases</span></b></a></div>
<div class="Body">
<br /></div>
<div class="Body">
At VGNC, we believe that when businesses are operating in a dynamic
market like India – Time is of high value. To ensure that valuable time of
management is not wasted on uncertainty and confusion, we have devised an
online model to resolve the litigation and compliance cases. </div>
<div class="Body">
Lead advisor of <span style="color: #00b0f0;"><a href="http://vgnc.in/our-services/compliance-litigation/">VGNC</a></span>,
Vipin Garg says, “VGNC stands with an objective to bea business advisory firm
acting as a growth partner of its clients rather than maintaining a temporarily
assignment based relationship. We believe a good partner is the one who
committed to the growth of their partner and makes various processes easier for
them. Working on our objective, we have launched E-litigation portal to
simplify compliance and litigation issues.”</div>
<div class="Body">
He also added, “Anyone one can reach us from anywhere in India through
this portal. They can provide us details and documents. After which our team
will analyse he case and provide compliance and litigation services till the <span lang="IT" style="mso-ansi-language: IT;">matter</span> is resolved.”</div>
<div class="Body">
<br /></div>
<div class="Body">
<a href="http://vgnc.in/our-services/compliance-litigation/" target="_blank"><b><span style="font-size: 14.0pt; line-height: 107%;">Benefits of E-Litigation Portal</span></b></a></div>
<div class="Body">
<br /></div>
<div class="Body">
The E-Litigation Portal is an innovative effort to help
businesses expand and grow by cutting down the management hours wasted on
roaming to find a proper solution to compliance issues. The management can now <span lang="IT" style="mso-ansi-language: IT;">utilize</span> the saved time in core decision-making
activities.Here are some benefits of the E-litigation portal:</div>
<div class="Body">
<b><span style="font-size: 12.0pt; line-height: 107%;">Time-Saving</span></b></div>
<div class="Body">
You can upload the memorandum of summarised information and
related case documents on the portal. VGNC team analyses the case after which
they provide compliance and litigation services. With this online portal, you
will not have to visit different advisors or giving away all the details again
and again. You do not have to wait for appointments. You can upload your case
details from anywhere.</div>
<div class="Body" style="tab-stops: 35.45pt;">
<a href="http://vgnc.in/our-services/inventory-supply-chain/" target="_blank"><b><span style="font-size: 12.0pt; line-height: 107%;">Streamlined Solutions</span></b></a></div>
<div class="Body">
After you have uploaded your case summary, VGNC experts will analyze
the case in detail. They customize compliance and litigation services to match
the exact requirement of your case.</div>
<div class="Body" style="tab-stops: 170.1pt;">
<a href="http://vgnc.in/about-us/" target="_blank"><b><span style="font-size: 12.0pt; line-height: 107%;">Privacy and Ease</span></b></a></div>
<div class="Body">
The online portal requires minimum human interaction. VGNC
maintains communication with the client through e-meetings or video conferences.
In the online interactions, critical case points and line of action are
discussed in detail before execution.The<span style="mso-spacerun: yes;">
</span>E litigation portal is highly secure. As the human interaction is minimized,
the chances of case details leaking out are negligible.</div>
<div class="Body">
With the world moving towards a technologically reliant economy, digitization
of compliance and litigation services in a praiseworthy step. It enhances
trust, reliability, and efficiency while reducing the time consumed to reach
the logical solution. </div>
<div class="Body">
<br />
visit us at: <a class="ot-anchor aaTEdf" dir="ltr" href="http://vgnc.in/our-services/compliance-litigation/" rel="nofollow" target="_blank">http://vgnc.in/our-services/compliance-litigation/</a><br />
or contact us : 9810666554, 7668010101<br />
Email : info@vgnc.in , vgnc@vgnc.in<br />
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Anonymoushttp://www.blogger.com/profile/14272771674522330898noreply@blogger.com0tag:blogger.com,1999:blog-6212789510390375574.post-29745014723687815062018-02-14T18:35:00.003+05:302018-02-14T18:35:54.774+05:30Union Budget 2018: Expert Analysis by VGNC<div dir="ltr" style="text-align: left;" trbidi="on">
<div class="separator" style="clear: both; text-align: center;">
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<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 22.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Union Budget 2018:
Expert Analysis by VGNC</span></b></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span lang="EN-GB" style="color: #2f5496; mso-ansi-language: EN-GB; mso-themecolor: accent5; mso-themeshade: 191;">Vipin Garg gives a crisp analysis
of union Budget 2018; discusses positives and negatives and explains why he
feels the Budget will thrust the world’s largest democracy ahead on its agenda
of growth.</span></i></b></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Amidst the usual
speculation of budgetary reforms, the<span style="mso-no-proof: yes;">expectation</span>
of common people and the world at large looking forward to the budget of one of
the fastest growing economy, the finance minister presented the <a href="http://vgnc.in/union-budget-2018-expert-analysis-vgnc/">Union Budget 2018</a>.
Abstaining from all the temptation to make union budget a mirror of recent USA
tax reforms, the Finance Minister presented a budget that was more focused on
promoting the aspirations of New and Growing India and consolidate gains. </span></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">“The
highlight of Union Budget 2018 being the<span style="mso-no-proof: yes;">rural</span>
economy, agriculture, healthcare, infrastructure and MSMEs was not a surprise
at all. It was evident that the finance minister will aim for bullseye by
laying a robust foundation for growing economy to stand on and push the economy
ahead.” – Vipin Garg</span></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">The budget
brings transformational changes to all the crucial sectors while taking
additional measures for ensuring consistent growth. <a href="http://vgnc.in/">Alternative
investment and outbound direct investment</a> are slightly touched in this
budget. </span></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">With the
Union Budget 2018, the Government’s intention to seek development through
reliance on technological advancement has continued. The emphasis has been
placed on the<span style="mso-no-proof: yes;">use</span> of technology for
various sectors, including education sector with the<span style="mso-no-proof: yes;">theme</span> of – <span style="mso-no-proof: yes;">blackboard</span> to
digital board.</span></div>
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<span lang="EN-GB" style="mso-ansi-language: EN-GB;">The
blockchain technology has been acknowledged which is a necessary element of the<span style="mso-no-proof: yes;">digital</span> economy. Mandatory e-audits by tax
authorities is a step forward to digitisation of the<span style="mso-no-proof: yes;">economy</span> and Government processes. </span></div>
<div class="MsoNormal">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhD6mfEi_dgp65IcmiJi6hD-62sNroyGE5K4iyOjye0Fr7SFgqZiJLRfCrFIZGdWdCq5gCqWhAr0Yt1gE-NJBj5cG8s9xQdyJDXigdyhKn9qvSU8WdZrbqfvIAxQMMKtpu8L_XLiJqUWH1Q/s1600/Union-Budget-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="300" data-original-width="800" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhD6mfEi_dgp65IcmiJi6hD-62sNroyGE5K4iyOjye0Fr7SFgqZiJLRfCrFIZGdWdCq5gCqWhAr0Yt1gE-NJBj5cG8s9xQdyJDXigdyhKn9qvSU8WdZrbqfvIAxQMMKtpu8L_XLiJqUWH1Q/s640/Union-Budget-2018.png" width="640" /></a></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="color: #ed7d31; font-size: 18.0pt; line-height: 107%; mso-ansi-language: EN-GB; mso-themecolor: accent2;">Budget Highlights</span></b></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span lang="EN-GB" style="font-size: 16.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Direct Taxes</span></i></b></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Personal tax</span></b></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l2 level1 lfo4; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Symbol; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">No
change in tax slabs or tax rates for individual taxpayers.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l2 level1 lfo4; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Symbol; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Health
andEducation Cess at the rate of 4% of tax and surcharge to take place of
Education Cess and Secondary and Higher Education Cess</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l2 level1 lfo4; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Symbol; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Standard
deduction provided from salary income in lieu of reimbursement of medical
expenses and transport allowance to be upto INR 40,000</span></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l2 level1 lfo4; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Symbol; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Increased
sops for senior citizens</span></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Company Tax</span></b></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 12.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Business
Income Snippets</span></b></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l6 level1 lfo3; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Symbol; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Rate
of income-tax to be 25% for domestic company if the total turnover or gross
receiptsof the FY 2016-17 does not exceed INR 2.5bn</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l6 level1 lfo3; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Symbol; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Introduction
of retrospective amendments to regularise the compliance with the notified ICDS</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l6 level1 lfo3; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Symbol; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Deemed
dividends u/s 2(22)(e) of the Act, on account of advancing loans and advances
to be subject to Dividend Distribution Tax<span style="mso-spacerun: yes;">
</span>at 30%</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l6 level1 lfo3; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Symbol; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Benefit
allowed to a<span style="mso-no-proof: yes;">new</span> employee who is employed
for less than 240 days during the<span style="mso-no-proof: yes;">first</span>year
but continues to remain employed for 240 days in the subsequent year.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l6 level1 lfo3; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Symbol; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Minimum
employment period of 150 days extended to footwear and leather industry</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l6 level1 lfo3; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Symbol; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Rationalisation
of provisions for companies seeking resolution under IBC, 2016, includingrelief
under MAT, relaxation from <span style="mso-no-proof: yes;">rigours</span> of
section 79 of the Act, etc.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l6 level1 lfo3; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Symbol; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">The
exemption on LTCG on listed securities to be withdrawn, subject to
grandfathering</span></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l6 level1 lfo3; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Symbol; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">In
respect of section 50C and section 56 of the Act, no adjustment to be made in
casevariation between stamp duty value and the sale consideration is not more
than 5% of the sale consideration</span></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 12.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Foreign
Company</span></b></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Corporate
tax rates remain unchanged at 40% (plus applicable surcharge and cess). It has
been proposed to replace Education cess of 3% by Health & Education cess of
4%. Effective tax rates shall be as under. </span></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 12.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Domestic
Company</span></b></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;"><a href="http://vgnc.in/">Corporate tax</a> rate reduced to 25% (plus applicable surcharge
and cess) for domestic companies having total turnover/ gross receipts not
exceeding INR 2.5bn in the FY 2016-17. In other cases, the tax rates remain
unchanged at 30% (plus applicable surcharge and cess). It has been proposed to
replace Education cess of 3% by Health & Education cess of 4%. Effective
tax rates are as under. </span></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 12.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Partnership Firm/
LLP</span></b></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Tax rates
remain unchanged except for “<a href="http://vgnc.in/">Health and Education cess</a>”.
Effective tax rate of 31.2% if taxable income is less than INR 10 million and
34.94% if taxable income exceeds INR 10 million.</span></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 12.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Individuals/
HUF/ BOI</span></b></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Tax rates
remain unchanged except for effective increase in the rate of cess by 1% as
“Health and Education cess”.</span></div>
<div class="MsoNormal">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh_FpMmYSw61UFngtAm4ywYLhHPDlZ9NluAGkx_TDNoM9LULZVYPGDUBYTg69Eg5l4P2mqsMCe5z83IVwMl-DMnro6OnhTltasZBOaYwMkBrVV0s0AfblkMfGw12BuwAfvgI0B5BWQauAj_/s1600/budget-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="300" data-original-width="800" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh_FpMmYSw61UFngtAm4ywYLhHPDlZ9NluAGkx_TDNoM9LULZVYPGDUBYTg69Eg5l4P2mqsMCe5z83IVwMl-DMnro6OnhTltasZBOaYwMkBrVV0s0AfblkMfGw12BuwAfvgI0B5BWQauAj_/s640/budget-2018.png" width="640" /></a></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 12.0pt; line-height: 107%; mso-ansi-language: EN-GB;">MAT/ AMT</span></b></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Tax rates
of both <a href="http://vgnc.in/our-services/inventory-supply-chain/">MAT and
AMT</a> remain unchanged at 18.5% (plus applicable surcharge) except for
effective increase in the rate of cess by 1% as “Health and Education cess”.</span></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 12.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Tax on
Dividends</span></b></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Rate of <a href="http://vgnc.in/our-services/compliance-litigation/">DDT</a> remains
unchanged at 15% (plus applicable surcharge of 12%) except for effective increase
in the rate of cess by 1% as “Health and Education cess”.</span></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Further,
scope of DDT expanded to include deemed dividend under section 2(22)(e) and the
rate prescribed thereto is 30% (plus applicable surcharge and cess).</span></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Non-resident
taxation</span></b></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l3 level1 lfo2; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Symbol; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Dependent
agent to include habitual conclusion of contracts and principal role played in
conclusion of contracts</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l3 level1 lfo2; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Symbol; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Significant
economic presence – business models which do not require physical presence</span></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l3 level1 lfo2; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Symbol; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">MAT
provisions not to apply to foreign companies opting for presumptive taxation
regime</span></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Others</span></b></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l1 level1 lfo1; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Symbol; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Plan
to be chalked to roll out e-assessment nationwide to impart greater
transparencyand accountability</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l1 level1 lfo1; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Symbol; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Penal
and prosecution provisions made stringent for failure to furnish tax returns
/statement of financial transactions</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l1 level1 lfo1; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Symbol; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Time-lines
for furnishing <a href="http://vgnc.in/our-services/assurance-advisory/">CbCR</a>
extended to 12 months from the end of reportingaccounting year</span></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l1 level1 lfo1; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Symbol; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Return
to be filed within timelines for claiming deductions for computing total income</span></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Indirect Taxes</span></i></b></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l0 level1 lfo5; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Symbol; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Amendments
made in Customs Act, 1962 from the perspective of ease of doing business and trade
facilitation like revised guidelines for Advance Rulings, electronic ledger,
customs automated system for clearances and dispute resolution</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo5; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Symbol; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Rates
of Basic Customs Duty increased for various goods such as radial tyres; buses,
cars, truck and motorcycles in CKD condition; mobile phones; and smart watches</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo5; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Symbol; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Rates
of Basic Customs Duty decreased for few goods such as inputs or parts for
manufacture of PCBA/ moulded plastics of charger/ adapter of cellular mobile
phones</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo5; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Symbol; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Education
Cess and Secondary and Higher Education Cess replaced with Social
WelfareSurcharge to be levied on aggregate of duties of Customs except IGST and
GST</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo5; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Symbol; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Compensation
cess in addition to other duties</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo5; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Symbol; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Amendments
made in the taxation structure of petrol and high speed diesel by introducing</span></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l0 level1 lfo5; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Symbol; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Road
and Infrastructure Cess without any change in effective rate of duty</span></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l0 level1 lfo5; text-indent: -.25in;">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjBmopJkxct9kjfHQZF2oDckOnxBpMSvTibSATp3HBge8LvroSE6yqDNUY_4StxQgoyI8jJ6G6TyhHjE8u2rlm9_DkyZlI6zegN7AlVvwEDNB8SYMuL11hHTPJg873TGAX2_b0LmmBTZNNK/s1600/budget2018.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="300" data-original-width="800" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjBmopJkxct9kjfHQZF2oDckOnxBpMSvTibSATp3HBge8LvroSE6yqDNUY_4StxQgoyI8jJ6G6TyhHjE8u2rlm9_DkyZlI6zegN7AlVvwEDNB8SYMuL11hHTPJg873TGAX2_b0LmmBTZNNK/s640/budget2018.jpg" width="640" /></a></div>
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<br /></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l0 level1 lfo5; text-indent: -.25in;">
<br /></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 16.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Transfer
Pricing</span></b></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">As part of
the implementation of the BEPS Action Plan 13 regarding Three Tier TP Documentation,
India had introduced Country by Country Report (CbCR) requirements effective
from AY 2017-18. This required certain Indian headquartered MNEs, and in some cases
Indian affiliates of foreign headquartered MNEs, to file CbCR in India
reporting countrywisedetails of revenue, profits, taxes, number of employees,
etc. It is proposed to amend these provisions to align with OECD’s
recommendations as follows:</span></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l8 level1 lfo6; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Wingdings; mso-ansi-language: EN-GB; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"><span style="mso-list: Ignore;">Ø<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">The time limit for furnishing the
CbCR shall be 12 months from the end of the reporting accounting year, as
compared to the earlier time limit of return filing date; and</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l8 level1 lfo6; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Wingdings; mso-ansi-language: EN-GB; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"><span style="mso-list: Ignore;">Ø<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">CbCR shall also be required to be
filed in India by Indian affiliates of foreign headquartered MNEs, if there is
no obligation to file CbCR in the home jurisdiction and the parent has not
designated any Alternate Reporting Entity outside India.</span></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l8 level1 lfo6; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Wingdings; mso-ansi-language: EN-GB; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"><span style="mso-list: Ignore;">Ø<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">The above amendments are
clarificatory in nature and are applicable from AY 2017-18.</span></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 16.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Customs Duty</span></b></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Being the
first budget after the implementation of GST, the changes were primarily
limited to customs only. While there was no change in the merit rate of basic
customs duty, tofurther encourage “Make in India,” basic customs duty on
specified goods of food processing,electronics, auto sector, etc. was
increased. Apart from that, the focus was to align the customs law to ensure
ease of doing business and meeting the commitments of the Trade Facilitation
Agreement.</span></div>
<div class="MsoNormal">
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<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg53M1mnAzXsKSZTShmwVpKaX2tlyzGKbZsPW_6m-Nl_O7t1nkJCjz7dBHUg5mR-h62jX-sg8NWavZJ1anRu61GsUUsf7IibNzDD9NC0waBaOY0r8cDsaoYTj48HT7p9dLZp2qzXYfyhZXv/s1600/budget.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="300" data-original-width="600" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg53M1mnAzXsKSZTShmwVpKaX2tlyzGKbZsPW_6m-Nl_O7t1nkJCjz7dBHUg5mR-h62jX-sg8NWavZJ1anRu61GsUUsf7IibNzDD9NC0waBaOY0r8cDsaoYTj48HT7p9dLZp2qzXYfyhZXv/s640/budget.jpg" width="640" /></a></div>
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<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Rate of duty</span></b></div>
<div class="MsoListParagraph" style="mso-list: l4 level1 lfo7; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Wingdings; mso-ansi-language: EN-GB; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"><span style="mso-list: Ignore;">Ø<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Median rate of basic customs duty
retained at 10%</span></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Changes in Customs Act, 1962</span></b></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l4 level1 lfo7; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Wingdings; mso-ansi-language: EN-GB; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"><span style="mso-list: Ignore;">Ø<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Scope of the Customs Act, 1962
expanded to cover any offence or contravention committedoutside India by any
person.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l4 level1 lfo7; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Wingdings; mso-ansi-language: EN-GB; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"><span style="mso-list: Ignore;">Ø<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">“Assessment” to now include specific
aspects such as classification, duty, valuation,exemption or concession of duty
etc..</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l4 level1 lfo7; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Wingdings; mso-ansi-language: EN-GB; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"><span style="mso-list: Ignore;">Ø<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">“Indian customs waters” expanded to
exclusive economic zones.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l4 level1 lfo7; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Wingdings; mso-ansi-language: EN-GB; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"><span style="mso-list: Ignore;">Ø<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Expansion in scope of provisional
assessment to include exports as well.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l4 level1 lfo7; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Wingdings; mso-ansi-language: EN-GB; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"><span style="mso-list: Ignore;">Ø<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Process of pre-notice consultation
by the authorities before issuance of demand notice forrecovery of duty or
refund in cases other than collusion, suppression, etc.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l4 level1 lfo7; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Wingdings; mso-ansi-language: EN-GB; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"><span style="mso-list: Ignore;">Ø<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Supplementary show cause notice to
be issued in specified cases and subject to conditions.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l4 level1 lfo7; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Wingdings; mso-ansi-language: EN-GB; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"><span style="mso-list: Ignore;">Ø<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Definite time frame provided for
adjudication of demand notices including their extension.In the event the
demand notice is not adjudicated within the specified time periodincluding
extension, it would be deemed that no notice was issued.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l4 level1 lfo7; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Wingdings; mso-ansi-language: EN-GB; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"><span style="mso-list: Ignore;">Ø<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">In cases where the extended period
due to collusion, suppression of facts, etc. is set asideby the appellate
authority, the demand pertaining to normal period of 2 years will sustainand a
proceeding will be undertaken on that basis.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l4 level1 lfo7; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Wingdings; mso-ansi-language: EN-GB; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"><span style="mso-list: Ignore;">Ø<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Expansion of the term “applicant” to
include any import or exporter, or any otherperson with justiciable cause to
the satisfaction of the authority.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l4 level1 lfo7; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Wingdings; mso-ansi-language: EN-GB; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"><span style="mso-list: Ignore;">Ø<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Empowering the Central Government to
include any matter on which Advance Rulingcan be sought.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l4 level1 lfo7; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Wingdings; mso-ansi-language: EN-GB; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"><span style="mso-list: Ignore;">Ø<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Reducing time limit for
pronouncement of ruling from 6 months to 3 months.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l4 level1 lfo7; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Wingdings; mso-ansi-language: EN-GB; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"><span style="mso-list: Ignore;">Ø<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Permitting appeal to the appellate
authority against ruling by the applicant or thecustoms authorities.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l4 level1 lfo7; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Wingdings; mso-ansi-language: EN-GB; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"><span style="mso-list: Ignore;">Ø<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Facility of electronic ledger for
payment of duty, interest, penalty, fee, etc., automatedsystem-based clearance
and audit notified.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l4 level1 lfo7; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Wingdings; mso-ansi-language: EN-GB; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"><span style="mso-list: Ignore;">Ø<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB; mso-no-proof: yes;">The requirement</span><span lang="EN-GB" style="mso-ansi-language: EN-GB;"> to pay redemption fine dispensed
with in cases of voluntary payment of alldues. Further, the option to pay
redemption fine to be void, if not paid within 120 daysfrom the date such
option was extended.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l4 level1 lfo7; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Wingdings; mso-ansi-language: EN-GB; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"><span style="mso-list: Ignore;">Ø<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Commissioner Appeals empowered to
remand cases to original adjudicating authority inspecific cases or
circumstances. </span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l4 level1 lfo7; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Wingdings; mso-ansi-language: EN-GB; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"><span style="mso-list: Ignore;">Ø<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Central Government to enter into an
agreement or arrangement for exchangeof information with any country for
facilitation of trade and enforcement of the CustomsAct, 1962.</span></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l4 level1 lfo7; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Wingdings; mso-ansi-language: EN-GB; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"><span style="mso-list: Ignore;">Ø<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Valuation methodology for
computation of IGST and Compensation Cess for warehoused goods sold prior to
clearance for home consumption or export prescribed.</span></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 16.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Central
Excise</span></b></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Amendments
have been made in the taxation structure of petrol (motor spirit) and
high-speed diesel but the effective rate of duty on these products will remain
unchanged.</span></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Excise duty on petrol and diesel (effective
from 02 <span style="mso-no-proof: yes;">February</span> 2018)</span></b></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l5 level1 lfo8; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Wingdings; mso-ansi-language: EN-GB; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"><span style="mso-list: Ignore;">Ø<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Road and Infrastructure Cess at INR
8 per litreto be levied on petrol and high-speed diesel.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l5 level1 lfo8; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Wingdings; mso-ansi-language: EN-GB; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"><span style="mso-list: Ignore;">Ø<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Abolishment ofadditional excise duty
of INR 6 per litre previously levied on petrol (vide Finance (No. 2) Act, 1998)
and high-speed diesel (vide Finance Act, 1999).</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l5 level1 lfo8; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Wingdings; mso-ansi-language: EN-GB; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"><span style="mso-list: Ignore;">Ø<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Petrol and high-speed dieselbasic
excise dutyto be reduced by INR 2 per litre.</span></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l5 level1 lfo8; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: Wingdings; mso-ansi-language: EN-GB; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"><span style="mso-list: Ignore;">Ø<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">No change in Special Additional
Excise Duty.</span></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB; mso-no-proof: yes;">The net</span><span lang="EN-GB" style="mso-ansi-language: EN-GB;"> impact of
duty on petrol and high-speed diesel will remain unchanged.</span></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Other exemptions (effective from 02 <span style="mso-no-proof: yes;">February</span> 2018)</span></b></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">In line
with the excise duty exemptions accorded previously, the following exemptions
are also harmonised:</span></div>
<div class="MsoListParagraphCxSpFirst" style="margin-left: .25in; mso-add-space: auto; mso-list: l9 level1 lfo9; text-indent: -.25in;">
<span lang="EN-GB" style="mso-ansi-language: EN-GB; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;">1)<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Road and Infrastructure cess levied
for the following products are exempt subject to payment of appropriat<a href="https://draft.blogger.com/null" name="_GoBack"></a>e excise duties on petrol and diesel and GST on ethanol or
bio-<span style="mso-no-proof: yes;">dieselused</span> for making such blends.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 1.5in; mso-add-space: auto; mso-list: l9 level6 lfo9; text-indent: -.25in;">
<i style="mso-bidi-font-style: normal;"><span lang="EN-GB" style="mso-ansi-language: EN-GB; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;">(i)<span style="font: 7.0pt "Times New Roman";">
</span></span></span></i><i style="mso-bidi-font-style: normal;"><span lang="EN-GB" style="mso-ansi-language: EN-GB;">5% ethanol blended petrol.</span></i></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 1.5in; mso-add-space: auto; mso-list: l9 level6 lfo9; text-indent: -.25in;">
<i style="mso-bidi-font-style: normal;"><span lang="EN-GB" style="mso-ansi-language: EN-GB; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;">(ii)<span style="font: 7.0pt "Times New Roman";">
</span></span></span></i><i style="mso-bidi-font-style: normal;"><span lang="EN-GB" style="mso-ansi-language: EN-GB;">10% ethanol blended petrol.</span></i></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 1.5in; mso-add-space: auto; mso-list: l9 level6 lfo9; text-indent: -.25in;">
<i style="mso-bidi-font-style: normal;"><span lang="EN-GB" style="mso-ansi-language: EN-GB; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;">(iii)<span style="font: 7.0pt "Times New Roman";">
</span></span></span></i><i style="mso-bidi-font-style: normal;"><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Bio-diesel, up to 20% volume.</span></i></div>
<div class="MsoListParagraphCxSpLast" style="margin-left: .25in; mso-add-space: auto; mso-list: l9 level1 lfo9; text-indent: -.25in;">
<span lang="EN-GB" style="mso-ansi-language: EN-GB; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;">2)<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-GB" style="mso-ansi-language: EN-GB;">5 percent exemption from excise <span style="mso-no-proof: yes;">duty</span> (i.e. Basic Excise Duty, Road and
Infrastructure Cess and Special Additional Excise Duty) on petrol and diesel
manufactured and cleared from four oil refineries in north-east India.</span></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-IN" style="font-size: 16.0pt; line-height: 107%;">Service Tax </span></b></div>
<div class="MsoNormal">
<span lang="EN-IN" style="mso-no-proof: yes;">The retrospective</span><span lang="EN-IN"> exemption has been accorded to certain services from the<span style="mso-no-proof: yes;">levy</span> of service tax. </span></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l7 level1 lfo10; text-indent: -.25in;">
<span lang="EN-IN" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"><span style="mso-list: Ignore;">v<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-IN">Life insurance services provided by the Naval Group Insurance Fund
to personnel of coast guard under the Group Insurance Schemes of the Central
Government exempt from 10 <span style="mso-no-proof: yes;">September</span> 2004.
</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l7 level1 lfo10; text-indent: -.25in;">
<span lang="EN-IN" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"><span style="mso-list: Ignore;">v<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-IN">Services provided by the GST Network to the Central or State
Governments or the Union Territory administration exempt from 28 <span style="mso-no-proof: yes;">March</span> 2013. </span></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l7 level1 lfo10; text-indent: -.25in;">
<span lang="EN-IN" style="font-family: Wingdings; mso-bidi-font-family: Wingdings; mso-fareast-font-family: Wingdings;"><span style="mso-list: Ignore;">v<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-IN">Grant of license or lease for exploration of <span style="mso-no-proof: yes;">petroleum</span> crude or natural gas by the Government for which the
Government receives a share of the profit petroleum exempt from 01 <span style="mso-no-proof: yes;">April</span> 2016. </span></div>
<div class="MsoNormal">
<span lang="EN-IN">Refund can be claimed within 6 months from
enactment of the Finance Bill, 2018.</span></div>
<div class="MsoNormal">
<span lang="EN-IN">In conclusion, it is evident that the Union
Budget 2018 is building a strong foundation of New India. By placing reliance <span style="mso-no-proof: yes;">on</span> technological advancement, the Finance
Minister has supported the <span style="mso-no-proof: yes;">growth-oriented</span>
vision of the Prime <span style="mso-no-proof: yes;">Minister</span> of the<span style="mso-no-proof: yes;">fastest</span> growing economy.</span><span lang="EN-GB" style="mso-ansi-language: EN-GB;"></span></div>
<div class="MsoNormal">
<br /></div>
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Anonymoushttp://www.blogger.com/profile/14272771674522330898noreply@blogger.com0tag:blogger.com,1999:blog-6212789510390375574.post-48147496410918425112018-02-05T14:44:00.002+05:302018-02-05T14:44:19.448+05:30How to Reduce Retail Shrinkage in 2018<div dir="ltr" style="text-align: left;" trbidi="on">
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<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">One of the <a href="http://vgnc.in/reduce-retail-shrinkage-2018/"><span style="color: blue;">biggest
snags of retail industry</span></a> all across the globe is shrinkage. This
hidden obstacle causes inventory loss which results in supply chain errors not
just in India but on all over the world. Shrinkage is classified into two
categories – <a href="http://vgnc.in/reduce-retail-shrinkage-2018/"><span style="color: blue;">non-crime losses</span></a> (errors & mistakes) and
crime losses. While shrinkage can be caused by internal administrative errors
like pricing mistakes, on a darker side shoplifting, employee theft or any other
type of theft can be the cause of such loss of inventory.</span></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">In 2011, Global Retail Theft
Barometer found that India was world’s biggest shoplifter which means India was
facing highest shrinkage caused by shoplifting. Retail advisors claim the
shrinkage is still one of the biggest contributors causing a reduction in
profit despite the efforts.</span></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><a href="http://vgnc.in/"><b><span style="color: blue;">Reasons for Shrinkage</span></b></a></span></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">For those operating in the retail
industry, controlling shrinkage is incredibly important. But to bring retail
shrinkage under control, one needs to understand the main reason behind
shrinkage. Some of the crucial reasons are:</span></div>
<ul type="disc">
<li class="MsoNormal" style="line-height: normal; mso-list: l2 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><a href="http://vgnc.in/"><span style="color: blue;">Customer
Theft (Shoplifting)</span></a>:</span></b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">
Customers steal items, changing price tag or carry out other such
incidences which contribute to inventory loss.</span></li>
<li class="MsoNormal" style="line-height: normal; mso-list: l2 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><a href="http://vgnc.in/about-us/"><span style="color: blue;">Employee Theft</span></a>:</span></b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"> People who are working for you in your retail outlet
have easy access to every location within the outlet due to least
monitoring. Employees are often found swiping products, abusing discounts,
refunds or credit cards causing loss of profit.</span></li>
<li class="MsoNormal" style="line-height: normal; mso-list: l2 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><a href="http://vgnc.in/about-us/"><b><span style="color: blue;">Administrative Errors:</span></b></a> Although
inefficiencies in record keeping, paperwork, pricing and other such
mistakes are considered small, they can cause a great deal of shrinkage to
the retail companies. These innocent administrative errors add up over
time and cause huge loss of profit.</span></li>
</ul>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Shrinkage causes a reduction in
profit and hampers the whole supply chain. This is the reason that retail businesses
need to reduce shrinkage caused by theft and errors.</span></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjDrPAuRbEAsGtF97YGCdUFhwdFPbp15NN-Cep4QU_ilcWU9gjXiYyB8jJadWvRHMMObzNicff_pGcX5YcRz4n4vkLA1MjRThHj6fnHGQHKx8WcpEg9PG7aIcoIFm_R0ydP3sEzPV4naAjX/s1600/VGNC-ad-5.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1109" data-original-width="1600" height="442" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjDrPAuRbEAsGtF97YGCdUFhwdFPbp15NN-Cep4QU_ilcWU9gjXiYyB8jJadWvRHMMObzNicff_pGcX5YcRz4n4vkLA1MjRThHj6fnHGQHKx8WcpEg9PG7aIcoIFm_R0ydP3sEzPV4naAjX/s640/VGNC-ad-5.jpg" width="640" /></a></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><a href="http://vgnc.in/our-services/inventory-supply-chain/"><b><span style="color: blue;">Tips to Reduce Losses Caused by Shrinkage</span></b></a></span></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Companies and business owners
operating in retail sector should do to reduce the loss caused by shrinkage.
Here are some tips suggested by renowned retail industry expert at VGNC, a
global advisory firm</span></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><a href="http://vgnc.in/our-services/inventory-supply-chain/"><b><span style="color: blue;">Shrink the Shrinkage Caused by Employee Theft</span></b></a></span></div>
<ul type="disc">
<li class="MsoNormal" style="line-height: normal; mso-list: l1 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">When it comes to reducing the shrinkage caused by
employee theft, you need to focus on hiring right set of people for your
retail outlets. You need to check their records and references to ensure
you are hiring the right person.</span></li>
<li class="MsoNormal" style="line-height: normal; mso-list: l1 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Staff training can help you to take a strong stand
against the employee theft. Training your employees to pay attention to
them and running a loss prevention training program can help in reducing
such inventory losses. Training helps them to understand theft can bring
punishment and create a bad impact on their employment history.</span></li>
<li class="MsoNormal" style="line-height: normal; mso-list: l1 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">If you use a cash drawer or cash box to keep the money
on-site, you need to use commercial equipment designed to protect your
cash and valuables.</span></li>
<li class="MsoNormal" style="line-height: normal; mso-list: l1 level1 lfo2; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">You need to build stringent internal policies along
with building robust internal communication to tackle issues. Good
communication will allow open atmosphere and easy feedback system creating
a happy workplace. On the other hand, good policies will encourage ethical
behavior.</span></li>
</ul>
<div class="MsoNormal" style="line-height: normal; margin-left: .5in; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Although
these are some actions that can be taken to reduce shrinkage caused by employee
theft, you should feel free to conduct regular and sometimes random audits.
Audits will help you to identify suspicious behavior and discrepancies at the
earliest. Sudden audits will also help in discouraging employees from attempting
a theft.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-left: .5in; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><a href="http://vgnc.in/our-services/compliance-litigation/"><b><span style="color: blue;">Tackle the Theft by Customers</span></b></a></span></div>
<ul type="disc">
<li class="MsoNormal" style="line-height: normal; mso-list: l0 level1 lfo3; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">While you can train staff to prevent employee theft,
staff in retail outlets can also be trained to identify the signs of a
shoplifter.</span></li>
<li class="MsoNormal" style="line-height: normal; mso-list: l0 level1 lfo3; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">You need to hire an adequate number of staffs. Staff
should be trained to welcome all the customers and is available for help.
Having an adequate staff will not only support the customers in need of
help but also act as a deterrent for the shoplifters.</span></li>
<li class="MsoNormal" style="line-height: normal; mso-list: l0 level1 lfo3; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Organising your retail outlet is not only helpful in
enhancing the visual aesthetics of your retail outlet but also makes it
easier to spot things that are missing.</span></li>
<li class="MsoNormal" style="line-height: normal; mso-list: l0 level1 lfo3; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Inventory taking and POS data keeping the shop helps in
recording and organizing data of all the items in the shop. Proper
recording and maintaining of product data will help in earlier
identification of unusual inventory patterns.</span></li>
<li class="MsoNormal" style="line-height: normal; mso-list: l0 level1 lfo3; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">You need to have a robust surveillance system to
discourage customer theft. Checking of visible proof of purchase, CCTV
cameras, and other such systems will help in identification of shoplift
attempt.</span></li>
</ul>
<div class="MsoNormal" style="line-height: normal; margin-left: .5in; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">You need
to check the items that come back inwards for return or exchange. There are
higher chances of finding stolen items through return systems.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-left: .5in; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><a href="http://vgnc.in/our-services/compliance-litigation/"><b><span style="color: blue;">Abridging Administrative Losses</span></b></a></span></div>
<ul type="disc">
<li class="MsoNormal" style="line-height: normal; mso-list: l3 level1 lfo4; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Proper training of staff to identify mistakes and
reduce errors can help you to restrict the shrinkage caused by
administrative errors.</span></li>
<li class="MsoNormal" style="line-height: normal; mso-list: l3 level1 lfo4; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Regular audits will help you to identify the pricing
and other paper errors.</span></li>
<li class="MsoNormal" style="line-height: normal; mso-list: l3 level1 lfo4; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Paperwork and pricing must be double checked to ensure
that it is correct at all points.</span></li>
</ul>
<div class="MsoNormal" style="line-height: normal; margin-left: .5in; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><a href="http://vgnc.in/our-services/assurance-advisory/"><span style="color: blue;">Paperwork
and pricing losses</span></a> can cause most of the shrinkage and can be
minimized with little effort. Double signing system for paperwork will help you
to ensure that paper works are error free.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-left: .5in; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">In 2018,
it is important that you gain a clear picture of what is happening inside your
retail outlet. To get a clear picture of all the products and sale, you need to
invest in an effective inventory management system.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-left: .5in; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">A<a href="http://vgnc.in/our-services/assurance-advisory/"><span style="color: blue;">
retail and inventory advisor</span></a> can help you to reduce shrinkage and
improve your profits. But when you are choosing an advisor, make sure you
choose them wisely. An advisor who works with you as a partner rather than a
hired professional will help you grow in the retail sector.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-left: .5in; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<br /></div>
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<br /></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Visit us at: <a data-ft="{"tn":"-U"}" data-lynx-mode="async" href="https://l.facebook.com/l.php?u=http%3A%2F%2Fwww.vgnc.in%2F&h=ATPQrojaObGaHqZaIN-m0bZ-I20hAG2rZj7DFsLvb26EdmSDn-nzEQ2wSfcASMgpzjoeuuQS9udAUeV20v8RQ-U7jiJF34xIyuWNn4M_MImlGU9rzeO5WnGvp7e_YeQmz5J5v4FiG5RoVOZ-dqC4zoQ9iH2GrQKsThjI9OY0PgaG8hNIX0t_M1sNm14x9hC4KasixJ5xcH0r4zyJEIV5IleEOzrouaWJJEJBaEIk0arKh-FWEag_l8V8P0GqKUvlDYiFtzHo_zEqmeNKofjso01uoZiCSFWM" rel="nofollow" target="_blank">http://www.vgnc.in/</a><br /> or contact us : 9810666554, 7668010101<br /> Email : info@vgnc.in , vgnc@vgnc.in</span></div>
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Anonymoushttp://www.blogger.com/profile/14272771674522330898noreply@blogger.com0tag:blogger.com,1999:blog-6212789510390375574.post-69365317130385461432018-01-31T11:57:00.000+05:302018-01-31T11:57:13.426+05:30Features of a Reliable Business Advisory Firm<div dir="ltr" style="text-align: left;" trbidi="on">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjxLHYJncJ9kAShTOqg5GodZj-CQpSyO-5gzSbYKAtLZMHA5q42tCUQN5J1-8vBnb2kY-zVVyR91XjNVD8TamLAb141TnWodMgRTUMTLVUXPF4zSVhMoxRsZ5rIiepC5HIb338uLKuMRXnE/s1600/VGNC-web-5.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1080" data-original-width="1080" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjxLHYJncJ9kAShTOqg5GodZj-CQpSyO-5gzSbYKAtLZMHA5q42tCUQN5J1-8vBnb2kY-zVVyR91XjNVD8TamLAb141TnWodMgRTUMTLVUXPF4zSVhMoxRsZ5rIiepC5HIb338uLKuMRXnE/s320/VGNC-web-5.jpg" width="320" /></a></div>
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When your business is anticipating growth, a reliable <a href="http://vgnc.in/">business advisory firm</a> can take your business to new heights. But it is quite difficult to find a reliable team of chartered accountants who can push your business during the times of unbalance and help you to achieve success.<br />
Many businesses refrain from contacting a business advisory firm as they do not trust their efficiency or think that they are more focused earning profits. But on the contrary, businesses need to spend a reasonable amount of time to find a <a href="http://vgnc.in/">reliable business advisory.</a><br />
In a brief talk with VGNC, one of India’s fastest growing <strong><a href="http://vgnc.in/">global business advisory firm</a></strong>, we were able to list down some features of a reliable business advisory firm that is in tune with recent needs of the Indian market. Given below are some features a good advisory firm should have:<br />
<strong><a href="http://vgnc.in/">A Partner You can Grow with</a></strong><br />
<strong>Vipin Garg </strong>of VGNC says, “A business advisory firm should be able to understand all the issues form their client’s viewpoint to find solutions in the best possible way. At <strong><a href="http://vgnc.in/">VGNC</a></strong>, we step into our client's shoes to understand issues from the client’s perspective.We thrive to become a reliable and trusted partner of our clients. We support our clients in their growth by providing effective and long-term solutions rather than providing short-term instant solutions.”<br />
He emphasizes that businesses need to choose a <a href="http://vgnc.in/">business advisory firm</a> that is a trustworthy and reliable partner rather than a firm working for monetary benefits. A partner would think about long-term benefits and sustainable growths, unlike the hired partner who suggests instant answers that prove to be short-lived.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhG8nU4Z3xRdNq1fCqrqUZ9celicx7XrUL3lYaegw_f7RwXDBX8vEd2Z94SWYGWjHRQNcSd8nHIR5J3oObM09HwSzMGhu49PAgwA6Pbg8c6LfRufR-H9EXQzRAIS-76I2CFyDCHebjFjtp4/s1600/VGNC-web-3.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1080" data-original-width="1080" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhG8nU4Z3xRdNq1fCqrqUZ9celicx7XrUL3lYaegw_f7RwXDBX8vEd2Z94SWYGWjHRQNcSd8nHIR5J3oObM09HwSzMGhu49PAgwA6Pbg8c6LfRufR-H9EXQzRAIS-76I2CFyDCHebjFjtp4/s320/VGNC-web-3.jpg" width="320" /></a></div>
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<strong>Talent Pool</strong><br />
Vipin Garg says, “There is hardly any business advisory firm that can survive without excellent talent in their team.” But he also added, “VGNC has touched new heights in short span of time due to its exemplary talent pool. At<a href="http://vgnc.in/"> VGNC</a>, we ensure that talent gets nourished.We have helped our team to develop expertise and this, in turn, proves to be beneficial for our clients who reap the benefits of it.”<br />
He suggests that businesses should check whether the business advisory firm they are choosing has qualified, experienced and talented professionals or not. This will help them to avoid assigning critical tasks to an amateur team.<br />
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<strong>Extensive Experience and Knowledge</strong><br />
A <a href="http://vgnc.in/">business organization</a> must searchfor the knowledge and experience a business advisory firm has before they select them. This is not a difficult job in today’s technologically advanced world. All the trusted global business advisory firms have a decent online presence. You can learn about the knowledge and experience they have in different sectors and different industries through their official website.<br />
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<strong>Clients</strong><br />
Before you start working with an <a href="http://vgnc.in/">advisory firm</a>, it is important that you go to their website or through the internet to find out about the clients they have worked with and what they say about them.<br />
These are some of the crucial features of a <a href="http://vgnc.in/">reliable global business advisory firm</a>. If you choose wisely, you will not have to regret later and deal with inefficiency. On the other hand, the reliable business advisory firm is a partner you grow with.<br />
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Visit us at: <a data-ft="{"tn":"-U"}" data-lynx-mode="async" data-lynx-uri="https://l.facebook.com/l.php?u=http%3A%2F%2Fwww.vgnc.in%2F&h=ATMlwyvVsAOOX033bVhGF3y9A72U0xhr7fmtGuylBDBNuMmlmhwP1-iUoO7PJFakXA_EtHQKwZLq0NCEo17bujwJY9nUtmJ4dJqFqWv3x16iopGmU8XaV0a6ZN8FCb6Z52fqyVxIrjUdvabIYG_WzQfEiXtIEw_QZQyMapAQCCNm0Pd5CJmcCPsSs171MXN0489oOwrEiECqGfiVWm8JBhoT32ahjoiUgduGYds1HjEPeHhWIGDGD8sEBYrlYA3pKWouOVf4Oc_tICC8n3iq6RlspjqGC4asEBMCjEgdvPetAEGouOC0YMuGE_1M" href="http://www.vgnc.in/" rel="nofollow noopener" target="_blank">http://www.vgnc.in/</a><br /> or contact us : 9810666554, 7668010101<span class="text_exposed_show"><br /> Email : info@vgnc.in , vgnc@vgnc.in</span><br />
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A PARTNER YOU GROW WITH.<br />
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Anonymoushttp://www.blogger.com/profile/14272771674522330898noreply@blogger.com0tag:blogger.com,1999:blog-6212789510390375574.post-45102366419776751892018-01-25T12:55:00.001+05:302018-01-25T12:55:07.416+05:30New Finance Panel and a Task Force: What can be expected from New Tax Laws<div dir="ltr" style="text-align: left;" trbidi="on">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiMXmhbvXGI9IzbHC7IAngnQrWk4FGEwOqkbTibPE6GeCfHY1JwDF0luYWTDmFP9Ud0Us4aFIuK1Di5IlOuyMkmKXnPYndfDTNburhkYjzRr7HlL3kV20iT2fnvRnM4kyqr_wuL7rAwOO3g/s1600/finance_commission_india.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="390" data-original-width="707" height="352" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiMXmhbvXGI9IzbHC7IAngnQrWk4FGEwOqkbTibPE6GeCfHY1JwDF0luYWTDmFP9Ud0Us4aFIuK1Di5IlOuyMkmKXnPYndfDTNburhkYjzRr7HlL3kV20iT2fnvRnM4kyqr_wuL7rAwOO3g/s640/finance_commission_india.jpg" width="640" /></a></div>
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The cabinet approved the constitution of the fifteenth finance commission. <a href="http://vgnc.in/new-finance-panel-task-force-can-expected-new-tax-laws/" rel="noopener" target="_blank">The fifteenth finance commission</a>
will determine the devolution formula for the revenue sharing between
Centre and state (from 2020 to 2025). It will also have its task cut
with the new tax system.<br />
The panel will have to deal with significant changes in the taxation framework, such as GST before making recommendations. <a href="http://vgnc.in/new-finance-panel-task-force-can-expected-new-tax-laws/" rel="noopener" target="_blank">Finance Minister Arun Jaitley announced</a>
that the cabinet had given an in-principle approval to form the
commission and negotiate its terms of reference.The commission, whose
members and terms of reference will be notified after finalisation, will
make crucial recommendations which will be more in tune with India’s
economic needs.<br />
The recommendations made by Fourteenth Finance Commission were
accepted by the Government. These recommendations will be brought into
effect until March 31, 2020. As per the recommendation, the states’
share of the central pool of taxes was increased from 32% to 42%.<br />
<h4>
<strong>Work of Fifteenth Finance Commission</strong></h4>
<ul>
<li>The will prepare recommendations that will be placed before April 1, 2020.</li>
<li>The commission needs retain the pattern of both Centre and States’ expenditure.</li>
<li>Apart from expenditure pattern, the commission will also consider
impressions of the new distribution of taxes system on the Centre and
States.</li>
<li>The Fifteenth Finance Commission will have to grapple with the
significant changes in the taxation framework. This will, specifically,
be an <a href="http://vgnc.in/impact-gst-construction-industry-real-estate/" rel="noopener" target="_blank">evaluation of Good and Service Tax</a> along with other changes.</li>
</ul>
<h4>
<strong>Looking Forward to a More Aligned Direct Tax</strong></h4>
On the same day when the government made announcements about <a href="http://vgnc.in/">Fifteenth Finance Panel</a>,
the constitution of a task force was also announced. On November 22, a
task force for redrafting the 50-year old income tax law came into form.
This step is taken by the government to create direct tax laws that are
in sync with the current economic needs of the country.<br />
This task force, with six members, will be responsible for revising the<a href="http://vgnc.in/" rel="noopener" target="_blank"> income tax act 1961</a>
to bring it alignment with dynamic economic needs of the country. The
members of this panel include Arbind Modi, CBDT Member (legislation) as
the convener with other noteworthy members being Girish Ahuja (Chartered
Accountant), Rajiv Memani (Chairman and Regional managing partner of
EY) and Manish Kedia (Consultant, ICRIER).<br />
Hon’ble Prime Minister Narendra Modi had observed that the Income tax
Act 1961 was drafted 5 decades ago, during the annual conference of tax
officers back in September. Finance ministry later stated in November
that a task force has been constituted to review the act and redraft it
in consonance with current economic needs. The task force will submit
its report to the government within the period of six months. Chief
Economic Adviser Arvind Subramanian will hold a place in the task force
as a permanent special invitee.<br />
Looking for a replacement of the existing I-Tact, the UPA government had initiated a <a href="http://vgnc.in/our-services/assurance-advisory/" rel="noopener" target="_blank">Direct Taxes Code</a>
to simplify the tax legislation for corporates as well as individual
tax payers. The Direct Taxes code or DTC Bill, 2010, was introduced in
Parliament in 2010 but it lapsed with the dissolution of the 15thLok
Sabha.<br />
It was proposed in the lapsed bill that<a href="http://vgnc.in/our-services/compliance-litigation/" rel="noopener" target="_blank"> I-T exemption</a>
limit at Rs. 2 lakh and levying of 10 percent tax on income between Rs.
2 lakh and Rs. 5 lakh. For those earning between Rs 5-10 lakh, the
proposed tax was 20 per cent. And as per the proposal, all earnings
above Rs. 10 lakh will garner a tax of 30 per cent. The tax rate for
domestic companies was suggested 30 percent of business income.<br />
The NDA government, since attaining power in 2014, has made some
crucial changes to revise the tax and finance structure. It has already
implemented general anti-avoidance rule GAAR. Finance Minister
ArunJaitley also promised to drop the corporate tax rate to 25 per cent
in next 5 years, last year in 2016.<br />
Currently, the <a href="http://vgnc.in/our-services/inventory-supply-chain/" rel="noopener" target="_blank">Income tax Act</a>
provides individual income up to Rs.2.5 lakh per annum an exemption
from tax. But in the wake, when the growing economy of India is
supported by changed laws, such as GST, a 50-year old direct tax calls
for a revise which brings it in alignment with the economic need of
current times.<br />
With a government’s clear and firm intention to redraft the I-T act
for upgrading it and bringing it in accordance with current requirements
of the economy, a strong over <a href="http://vgnc.in/impact-gst-construction-industry-real-estate/" rel="noopener" target="_blank">direct tax structure </a>can be expected. This Direct tax structure will be supportive of the growth of Indian economy.<br />
</div>
</div>
Anonymoushttp://www.blogger.com/profile/14272771674522330898noreply@blogger.com0tag:blogger.com,1999:blog-6212789510390375574.post-40673631802746954902018-01-17T12:23:00.002+05:302018-01-17T12:53:33.285+05:30Exclusive Overview of Indian Retail in 2017, what to expect in 2018<div dir="ltr" style="text-align: left;" trbidi="on">
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<span lang="EN-GB" style="mso-ansi-language: EN-GB;">India, with
the <span style="mso-no-proof: yes;">shared</span> category of 55 percent, was
top sourcing destination in 2016-17. For all the retail giants from across the
world, the untapped major chunk of the<span style="mso-no-proof: yes;">middle
class</span> is an attracting force that drives them to India. Recently, there
have been many<a href="http://vgnc.in/real-estate-gst-impacts-need-know/" target="_blank"> emerging possibilities for the retail sector.</a> With new
businessmen entering the industry, the<span style="mso-no-proof: yes;">retail
sector</span> is expected to grow rapidly in coming years.</span>
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<span lang="EN-GB" style="mso-ansi-language: EN-GB;">The Indian
retail sector is already witnessing growth at an accelerated rate. This growth
is the outcome of retail development, not only in major metros and cities but
also in Tier-II and Tier-III cities. As most of India’s population is young and
working, the purchasing power of Indian consumers is growing.</span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEibtlCxMhs6GHLQoR8UJ5uaSbzTVddvOaXggkH2Ol2Tbnq-uQnuF0T25Lb7Y-BLynHPJMSbpsf9NFUDcJEUMiBTW9WYdyH9EpqEXsvSYThU6GAdgs_bJa7f1gGe2Ly1VPA0WmlE0k4PBYvM/s1600/retail-Ecommerce-sales-in-India-2013-2018-e1420623335856.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="468" data-original-width="620" height="482" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEibtlCxMhs6GHLQoR8UJ5uaSbzTVddvOaXggkH2Ol2Tbnq-uQnuF0T25Lb7Y-BLynHPJMSbpsf9NFUDcJEUMiBTW9WYdyH9EpqEXsvSYThU6GAdgs_bJa7f1gGe2Ly1VPA0WmlE0k4PBYvM/s640/retail-Ecommerce-sales-in-India-2013-2018-e1420623335856.png" width="640" /></a></div>
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<br /></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Growth in
Retail Sector</span></b></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: "symbol"; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span lang="EN-GB" style="mso-ansi-language: EN-GB;">India will gain from the latest FDI policy in retail.</span></i></b></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: "symbol"; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Indian retail is attracting investors from across the globe.</span></i></b></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: "symbol"; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span lang="EN-GB" style="mso-ansi-language: EN-GB;">The confidence of investors in India’s retail economy has grown. This
has been proved when India ranked 8<sup>th</sup> in FDI Confidence Index.</span></i></b></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: "symbol"; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Increase in income, availability of credit and change in lifestyle major
contributors in Indian retail industry.</span></i></b></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;"><a href="http://vgnc.in/" target="_blank">India’s retail industry</a> is, undoubtingly, one of the fastest growing retail industry in
the world. Accounting <span style="mso-no-proof: yes;">for</span> 10 <span style="mso-no-proof: yes;">percent</span> of the country’s GDP, it is hovering
over all industries not only in its contribution to GDP but also in employment.
This high growth potential is attracting investors from all around the world.</span></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">The
availability of credit has enhanced the purchasing power of the consumers. This
increase in purchasing power has supported the sale of higher value items and
also encouraged repeated purchases. The consumer <a href="https://draft.blogger.com/null" name="_GoBack"></a><span style="mso-no-proof: yes;">mindset</span> in buying has shown a<span style="mso-no-proof: yes;"> clear shift</span> with many of them making <span style="mso-no-proof: yes;">well-informed</span> buying decisions. Consumers are
more ready to experiment and are willing to buy those products that they have
never used before.</span></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">The
expansion in the purchasing power of middle class has led to an <span style="mso-no-proof: yes;">increase in</span> the purchases of luxury products and
also facilitated brand consciousness. While the<span style="mso-no-proof: yes;"> increase</span>
in discretionary income and change in lifestyle have been significant growth
drivers of <a href="http://vgnc.in/our-services/inventory-supply-chain/" target="_blank">Indian retail sector</a>, GST has helped in simplifying the tax
structure. Thus, leading to better cash flows, supply chain structure,
profitability,<span style="mso-no-proof: yes;">and</span> pricing.</span></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Future Possibilities</span></b></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l2 level1 lfo3; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: "symbol"; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span lang="EN-GB" style="mso-ansi-language: EN-GB;">The rural market has immense growth potential and needs to tapped</span></i></b></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l3 level1 lfo2; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: "symbol"; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Private label <span style="mso-no-proof: yes;">is</span> experiencing
increased level of activity and has tremendous opportunity</span></i></b></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l3 level1 lfo2; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: "symbol"; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span lang="EN-GB" style="mso-ansi-language: EN-GB;">Large retail players are attracted towards the price competitiveness of
Indian retail market</span></i></b></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l3 level1 lfo2; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: "symbol"; mso-ansi-language: EN-GB; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span lang="EN-GB" style="mso-ansi-language: EN-GB;">International retailers are increasing sourcing from India</span></i></b></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">If tapped
with the<span style="mso-no-proof: yes;">right set</span> of products and
pricing, there <span style="mso-no-proof: yes;">are</span> high growth
possibilities in a<span style="mso-no-proof: yes;">rural marketin</span> India. In
recent years, there has been an increased investment in infrastructure. This
has helped in building connectivity which has extended the reach of retailers
to the<span style="mso-no-proof: yes;">rural market</span>.</span></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">The <a href="http://vgnc.in/our-services/compliance-litigation/" target="_blank"><span style="mso-no-proof: yes;">organised</span> Indian retail sector</a> has begun to
experience an increased level of activity in private label space. The share of
private label in just 6 percent in comparison to 19 percent in the<span style="mso-no-proof: yes;">US</span> and 39 percent in the<span style="mso-no-proof: yes;">UK</span>. Therefore, there are many opportunities for <span style="mso-no-proof: yes;">homegrown</span> labels. Many international retailers
are increasing sourcing and moving from third party purchasing office to having
their own offices that are wholly owned and managed by them. </span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNHWpIGs7QkdBhKIFwD0wsSHSWgHZ9LQE5fmURm0bbDMLGgMAwPc8Rny6mNeq2wJKb9hb02eGfYW6PIocR5eSyQz2OCpFVyJGXsUnXXK2T8PkWiBY-Mmbq_b6QtyQutCYZ-l399b_UJDPj/s1600/e-retail-.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="529" data-original-width="643" height="526" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNHWpIGs7QkdBhKIFwD0wsSHSWgHZ9LQE5fmURm0bbDMLGgMAwPc8Rny6mNeq2wJKb9hb02eGfYW6PIocR5eSyQz2OCpFVyJGXsUnXXK2T8PkWiBY-Mmbq_b6QtyQutCYZ-l399b_UJDPj/s640/e-retail-.jpg" width="640" /></a></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Key
Initiatives</span></b></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l4 level1 lfo4; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: "wingdings"; font-size: 12.0pt; line-height: 107%;"><span style="mso-list: Ignore;">Ø<span style="font: 7.0pt "Times New Roman";">
</span></span></span><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 12.0pt; line-height: 107%; mso-ansi-language: EN-GB;">100%
FDI under government approval route for trading for food products manufactured
and/or produced in India</span></b></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l4 level1 lfo4; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: "wingdings"; font-size: 12.0pt; line-height: 107%;"><span style="mso-list: Ignore;">Ø<span style="font: 7.0pt "Times New Roman";">
</span></span></span><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 12.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Minimum
investment cap is USD 100 million</span></b></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l4 level1 lfo4; text-indent: -.25in;">
<span lang="EN-GB" style="font-family: "wingdings"; font-size: 12.0pt; line-height: 107%;"><span style="mso-list: Ignore;">Ø<span style="font: 7.0pt "Times New Roman";">
</span></span></span><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 12.0pt; line-height: 107%; mso-ansi-language: EN-GB;">The
government reserves the right to procure a certain amount of food grains to
ensure the Public Distribution System (PDS) and Food Security System (FSS).
This will enhance consumer security.</span></b></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Key Points</span></b></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l1 level1 lfo5; text-indent: -.25in;">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 12.0pt; line-height: 107%; mso-ansi-language: EN-GB; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;">1.<span style="font: 7.0pt "Times New Roman";"> </span></span></span></b><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 12.0pt; line-height: 107%; mso-ansi-language: EN-GB;">The online retail industry is growing
at an accelerated rate of 12 percent with the revenue reaching USD 14.5
billion.</span></b></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l1 level1 lfo5; text-indent: -.25in;">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 12.0pt; line-height: 107%; mso-ansi-language: EN-GB; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;">2.<span style="font: 7.0pt "Times New Roman";"> </span></span></span></b><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 12.0pt; line-height: 107%; mso-ansi-language: EN-GB;">The estimated <span style="mso-no-proof: yes;">organised</span> retail penetration share would reach 13 percent in 2019. </span></b></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l1 level1 lfo5; text-indent: -.25in;">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 12.0pt; line-height: 107%; mso-ansi-language: EN-GB; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;">3.<span style="font: 7.0pt "Times New Roman";"> </span></span></span></b><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 12.0pt; line-height: 107%; mso-ansi-language: EN-GB;">The <span style="mso-no-proof: yes;">unorganised</span>
retail penetration will hold a<span style="mso-no-proof: yes;">major share</span>
of 87 percent in 2019.</span></b></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l1 level1 lfo5; text-indent: -.25in;">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 12.0pt; line-height: 107%; mso-ansi-language: EN-GB; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;">4.<span style="font: 7.0pt "Times New Roman";"> </span></span></span></b><b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 12.0pt; line-height: 107%; mso-ansi-language: EN-GB;">FMCG market expected to reach USD
103.7 billion by 2020.<br style="mso-special-character: line-break;" />
<br style="mso-special-character: line-break;" />
</span></b></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span lang="EN-GB" style="font-size: 14.0pt; line-height: 107%; mso-ansi-language: EN-GB;">Challenges of
Retail Industry</span></b></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">The
diversity in the <a href="http://vgnc.in/our-services/assurance-advisory/" target="_blank">state policies and local influences</a> has become a hindrance for
the retail to expand in all aspects. The <span style="mso-no-proof: yes;">non</span>-availability
of skilled <span style="mso-no-proof: yes;">labour</span>, discounts from online
retailers and the <span style="mso-no-proof: yes;">high cost</span> of real
estate are some of the challenges in the rural market.</span></div>
<div class="MsoNormal">
<span lang="EN-GB" style="mso-ansi-language: EN-GB;">Indian
retail industry is on a growing track. And in comparison to other industries,
it is recording <span style="mso-no-proof: yes;">the</span> fastest growth.
India’s growth into a developed country depends on the <span style="mso-no-proof: yes;">growth</span> of its retail just like most of the developed countries
today. India is a dynamic place that is being targeted by many international
brands to <span style="mso-no-proof: yes;">capitalise</span> the growing
consumption pattern. With better government policies coming into play, the
future of Indian retail looks promising in 2018.</span></div>
<div class="MsoNormal">
<br /></div>
<br />
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Email : info@vgnc.in , vgnc@vgnc.in<br />
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Anonymoushttp://www.blogger.com/profile/14272771674522330898noreply@blogger.com0tag:blogger.com,1999:blog-6212789510390375574.post-25041233856481307412018-01-09T15:29:00.003+05:302018-01-09T15:29:56.763+05:30Real Estate under GST: Impacts You Need to Know<div dir="ltr" style="text-align: left;" trbidi="on">
<div class="entry-content">
<div class="_5pbx userContent _3576" id="js_7">
<strong><a href="http://vgnc.in/" rel="noopener" target="_blank">Real Estate under GST: Impacts You Need to Know</a></strong><br />
<br />
Considered as one of the most pivotal sectors of the <a class="_58cn" href="https://www.facebook.com/hashtag/indianeconomy?source=feed_text&story_id=1523486281103203"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">Indianeconomy</span></span></a>, <a class="_58cn" href="https://www.facebook.com/hashtag/realestate?source=feed_text&story_id=1523486281103203"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">realestate</span></span></a>
sector is the largest employer in the economy coming only after
agriculture sector. With an average of 5-6% contribution to the GDP at
present, it is set to grow at a compounded annual growth rate of 30% in
over the 10 years. Although real estate sector generates a staggering
amount of revenue, it has been embroiled in disputes in the past years
due to multiple taxations and ambiguity in provisions. Notorious for tax
evasion and cash transactions, here is how GST will affect the real
estate industry as a whole.<br />
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEghNa1E7lanvPWzMmFsuEF9HH4OjHyUZRa-jJFJ3x_ztfE5x8H6Edr5ZwAPRRZspTS8NxgWtLAbYmozO1dGfifx7vviuNl-6tS9gr0Hw32UhDFyMXn2gGBv6Y1FJOPmM_8xXyVF86NcTbyQ/s1600/VGNC.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="900" data-original-width="1200" height="480" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEghNa1E7lanvPWzMmFsuEF9HH4OjHyUZRa-jJFJ3x_ztfE5x8H6Edr5ZwAPRRZspTS8NxgWtLAbYmozO1dGfifx7vviuNl-6tS9gr0Hw32UhDFyMXn2gGBv6Y1FJOPmM_8xXyVF86NcTbyQ/s640/VGNC.jpg" width="640" /></a></div>
<br />
<br />
Simplification of Tax<br />
• The most positive takeaway for <a class="_58cn" href="https://www.facebook.com/hashtag/consumers?source=feed_text&story_id=1523486281103203"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">Consumers</span></span></a> and <a class="_58cn" href="https://www.facebook.com/hashtag/investors?source=feed_text&story_id=1523486281103203"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">investors</span></span></a> is the emergence of a simple tax that applies to the overall of the purchase price.<br />
<br />
The consumers and investors were hassled by the <a class="_58cn" href="https://www.facebook.com/hashtag/taxrates?source=feed_text&story_id=1523486281103203"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">taxrates</span></span></a>
earlier as they were levied depending on the construction status of the
property. While purchasing an under construction property attracted the
payment of <a class="_58cn" href="https://www.facebook.com/hashtag/vat?source=feed_text&story_id=1523486281103203"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">Vat</span></span></a>, <a class="_58cn" href="https://www.facebook.com/hashtag/servicetax?source=feed_text&story_id=1523486281103203"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">servicetax</span></span></a>, <a class="_58cn" href="https://www.facebook.com/hashtag/stampduty?source=feed_text&story_id=1523486281103203"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">stampduty</span></span></a>, and <a class="_58cn" href="https://www.facebook.com/hashtag/registration?source=feed_text&story_id=1523486281103203"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">registration</span></span></a> charges, completed properties only paid stamp duty and registration charges as they were exempted from Vat and service tax.<br />
The buyers will now pay a single indirect tax levied on under construction property’s value apart from stamp duty and <a class="_58cn" href="https://www.facebook.com/hashtag/registrationcharges?source=feed_text&story_id=1523486281103203"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">registrationcharges</span></span></a>. The completed projects will continue to be exempted from indirect tax. With the <a class="_58cn" href="https://www.facebook.com/hashtag/goodandservicetax?source=feed_text&story_id=1523486281103203"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">GoodandServiceTax</span></span></a> (<a class="_58cn" href="https://www.facebook.com/hashtag/gst?source=feed_text&story_id=1523486281103203"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">GST</span></span></a>)
rate for under construction projects fixed at 12%, the benefits of
investing in under-construction property will supersede the benefits the
benefits of investing in the ready-to-move-in homes after inclusion of
real estate under the GST.<br />
<br />
Greater Transparency<br />
<br />
• Significant amount of transparency and more regulated real estate sector<br />
With a single GST rate, investors and buyers will know the actual
amount they are paying. Previously, the taxes were under the complex
structure of provisions and multiple taxes. Although the tax was levied,
the invoice did not cover the parts of tax borne by raw materials and
services. As the GST rate will be levied on the overall purchase price,
the complications are reduced. The government has allowed deduction of
land value equivalent to 1/3rd of the total amount charged by a
developer. GST is expected to bring down the tax burden on buyers
improving transparency in the process.<br />
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhMtRf7q6q2jJGtGSKzzM2DNejEPJxzhpBICb270jbbfoFXbFCN9AvsUEbfWcrVz-BCy1Jpp6ydpIMpr-JSccoz8uh2LRF9752BEkLBWEHBGTwCwXhr9l6f-LIyblWwu5a0RTZVHD8e7ZL1/s1600/rcm-under-gst-regime.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="533" data-original-width="750" height="452" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhMtRf7q6q2jJGtGSKzzM2DNejEPJxzhpBICb270jbbfoFXbFCN9AvsUEbfWcrVz-BCy1Jpp6ydpIMpr-JSccoz8uh2LRF9752BEkLBWEHBGTwCwXhr9l6f-LIyblWwu5a0RTZVHD8e7ZL1/s640/rcm-under-gst-regime.jpg" width="640" /></a></div>
<br />
<br />
Stamp Duty and Property Tax will be Absorbed, Eventually
<br />
Registration charges and stamp duty are payments that are outside the
ambit of GST now. These will be levied by the state. Similarly, the
property tax will also be outside the boundaries of GST as it is levied
by the municipality. If GST is analysed globally, there are higher
chances that eventually all another form of payments will subsume into
GST.<br />
<br />
No Filing of Detailed Returns<br />
<br />
As it is a challenge to implement new laws – especially on compliance
front, the detailed return is no required right from the beginning.
This lenient view helps in easing out the transition.<br />
<br />
Beneficial in Long Run and Global Front<br />
<br />
Real estate will get relief from a multiplicity of tax rates and
confusion but initial stages of GST implementation will not be easy.
Pressurised conditions due to transition will have a short-term
unfavourable impact during initial stages will make compliance
difficult.<br />
<br />
Redressal of <a class="_58cn" href="https://www.facebook.com/hashtag/taxation?source=feed_text&story_id=1523486281103203"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">Taxation</span></span></a> Issues will Become Easy<br />
<br />
The inclusion of real estate under GST will make certain tax issues easier to handle. This ease will be due to lack of <a class="_58cn" href="https://www.facebook.com/hashtag/jurisdiction?source=feed_text&story_id=1523486281103203"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">jurisdiction</span></span></a>
overlapping. Previously, centre and state jurisdiction coincided with
regards to levies of goods and services. Thus, seeking redressal of any
tax issue was difficult. Under GST regime, it will become way easier
than before.<br />
<br />
Transition Period will Require Patience<br />
<br />
The transition period will be difficult and will lead to ambiguity in
transactions. This will occur in initial stages due complication in
calculations but this will ease out after some time.<br />
<br />
Unregistered Vendors Strain<br />
<br />
As the tax liability has shifted from the provider of the goods and
services to the one who receives it – if he/she is a registered person.
Unregistered dealers will, however, attract a reverse charge.<br />
<br />
Input Service Distributor Concept<br />
<br />
ISD or Input Service Distributor concept has been suggested for
transferring the tax credit of input service between two or more
locations. Any goods or service supplier will be considered an ISD and
will be capable of transferring all types of GST. This will ensure
optimal utilisation of head office related credit in case of multiple
state registrations. As a result, the actual cost will be reduced.<br />
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEisk7vaaBTlZziB_ks1xHeid4l58a6i0ciet5SzfMdr6Dz8Ws0K0eTWk4GEFMZ3NujdKEnu_H2zGB9qwM-QgKLo1y6n3KhxmM_JmCVCa-utLd_aRxzbpXtr-D-gYaqwbWdXH7qmco4nCGgM/s1600/real-estate.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="505" data-original-width="768" height="420" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEisk7vaaBTlZziB_ks1xHeid4l58a6i0ciet5SzfMdr6Dz8Ws0K0eTWk4GEFMZ3NujdKEnu_H2zGB9qwM-QgKLo1y6n3KhxmM_JmCVCa-utLd_aRxzbpXtr-D-gYaqwbWdXH7qmco4nCGgM/s640/real-estate.jpg" width="640" /></a></div>
<br />
Requirements for Compliance<br />
<br />
• Real estate needs to gear up to meet the increasing compliance requirement in GST era<br />
Assesses will have to file an annual return for each registered
branch and warehouse on or before 31st December following the relevant
following year. There is a mandatory audit requirement by a chartered
accountant or cost accountant in case of turnover is over Rs.1 crore. In
this case, the annual return will need to be accompanied by a copy of
audited annual accounts and reconciliation statement.<br />
<br />
If you consider the challenges of new compliance for the real estate
sector under GST, there is a growing need to bring appropriate changes
to IT systems to become GST compliance ready. Automated compliance will
offer a wide range of benefits which includes timely compliance,
comparison of reports, report generation and decision making.<br />
<br />
Visit us at: <a href="https://l.facebook.com/l.php?u=http%3A%2F%2Fwww.vgnc.in%2F&h=ATMJy9VWwgFty9UFqdsFqC7_IAGc5IFK3_CzEzFm7jTp67eHCySxRHp5L1TtoTLD1t8_Dmb28Gyjpmm2Lm437ZEec3kLKwJlbvQywaiAHr3DDLBNh3q8dycmLPxWbJPsVxsF3jA3FMSZhbqjy-0M94K85pAR2lsLwVx6oNe9zKFEksozp56N6uP5vOCJn3ywBP7go2D8nIsPnyVUKx735KYsRw5rCumlU7QbuX1ma-naYNADoNvZHRl2udb4CXG35ECUlpd4PKM5nel2CQlQuBV4oj7s7pWYzg" rel="nofollow noopener" target="_blank">http://www.vgnc.in/</a><br />
or contact us : 9810666554, 7668010101<br />
Email : info@vgnc.in , vgnc@vgnc.in<br />
<br />
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</div>
</div>
</div>
Anonymoushttp://www.blogger.com/profile/14272771674522330898noreply@blogger.com0tag:blogger.com,1999:blog-6212789510390375574.post-84960845672673302162017-08-10T13:22:00.004+05:302017-08-10T13:22:48.899+05:30THINGS TO KEEP IN MIND BEFORE FILING INCOME TAX RETURN<div dir="ltr" style="text-align: left;" trbidi="on">
<div style="background-color: white; border: 0px; box-sizing: border-box; color: #777777; font-family: Lato, Arial, Helvetica, sans-serif; font-size: 15px; margin-bottom: 20px; outline: 0px; padding: 0px; vertical-align: baseline;">
For any economic year, 31<span style="border: 0px; box-sizing: border-box; font-size: 11.25px; line-height: 0; margin: 0px; outline: 0px; padding: 0px; position: relative; top: -0.5em; vertical-align: baseline;">st</span> July is the due date for filling income tax for everyone. No doubt, filling an income tax return is not at all the easiest tasks in India as the whole system is undergoing changes in the digitized era. In this transitional stage where economic reforms are being carried on looking at the national and international scenario, every responsible citizen has to be aware of some necessary areas which are pivotal to filling income tax return.</div>
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<div style="background-color: white; border: 0px; box-sizing: border-box; color: #777777; font-family: Lato, Arial, Helvetica, sans-serif; font-size: 15px; margin-bottom: 20px; outline: 0px; padding: 0px; vertical-align: baseline;">
<span style="border: 0px; box-sizing: border-box; font-weight: 700; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">Linking Aadhar number to Income Tax</span>: The finance Act 2017 makes it mandatory for every citizen to quote Addhar while filling incoming tax returns. Thus it has become necessary to link Aadhar with your Permanent Account Number (PAN). Users simply need to visit <a href="http://www.incometaxindiafiling.gov.in/" style="background-color: transparent; border: 0px; box-sizing: border-box; color: #fa5c5d; margin: 0px; outline: 0px; padding: 0px; text-decoration-line: none; transition: color 0.15s ease-in-out; vertical-align: baseline;">www.incometaxindiafiling.gov.in</a> and have to click on link Aadhar tab. The link will be verified after confirmation from UIDAI authorities. For those who do not have Aadhar, have to apply for it immediately and quote the provisional number issued to them.</div>
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<span style="border: 0px; box-sizing: border-box; font-weight: 700; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">Identifying the basic sources of income</span>: This is a primary task where an individual needs to chalk down the avenues of earning. In no way, an individual should opt for hiding any earning or any fraud. Or else, the person can be penalized as per the provisions of income tax. Let’s not forget that income doesn’t mean only salary but also other avenues like house property, business, capital gains and other sources.</div>
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<span style="border: 0px; box-sizing: border-box; font-weight: 700; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">Understanding the tax bracket and the exemptions offered</span>: This is another significant aspect which needs to be taken care of. One must clearly read the various tax brackets which are applicable to individuals. In this regard, exemptions are also necessary to understand. No doubt, exemptions give much needed tax relief to professionals. As far as housing loans and other loans are concerned, those are to be taken care of while filling income tax.</div>
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<span style="border: 0px; box-sizing: border-box; font-weight: 700; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">Filling in correct personal details: </span>While filling the income tax return, it is important to give right input while filling up the form online. Any mistake while furnishing the necessary details or giving incorrect bank details may end up creating much hazard for the person in the long run. Any rectification no doubt in this segment is time taking.</div>
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<span style="border: 0px; box-sizing: border-box; font-weight: 700; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">Choosing the right ITR form</span>: The Central Board of Direct Taxes has brought some amendments in the ITR forms. At present, the whole process has become much simplified. Instead of 9 ITR forms, there are 7 ITS forms. As far as the changes are concerned, three of the earlier ITR forms—ITR-2, ITR-2A and ITR-3—have been rationalized. A single ITR-2 form has replaced them, making the whole segment much easier. Subsequently, ITR-4 and ITR-4S (Sugam) forms have been renumbered as ITR-3 and ITR-4 (Sugam). Interestingly, the new ITR- 1 form is a one pager and any individual whose income is upto Rs 50 lakh a year can fill it. No doubt, this will invariably include salary income, interest income and income from one house property. Those who have income of more than Rs50 lakh or own more than one house property will have to file ITR-2 form. At present, the only deductions specified are sections 80C, 80D, 80G and 80TTA and the remaining are to be mentioned in the ‘others’ box.</div>
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<span style="border: 0px; box-sizing: border-box; font-weight: 700; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">Claiming the deduction</span>: It is important to claim the deduction for which any individual is eligible for. It may be under Section 80C or Section 80G or housing deduction for interest on housing loan.</div>
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<span style="border: 0px; box-sizing: border-box; font-weight: 700; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">Maintaining documents for future</span>: Once you file your income tax for a particular economic year, you job doesn’t end there. Rather, you have to keep the old documents safe so that, if there is any future inquiry or investigation regarding financial details, you can provide with the documents. Apart from that, if the deduction amount is incorrect, you will need to furnish the old documents for further application. Thus it is always advisable to keep a proper back up the documents.</div>
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Nevertheless, as a responsible citizen of the country, it is important to remember all the necessary details and file Income tax within the stipulated time. For any query, you can contact us @ 7668010101</div>
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Anonymoushttp://www.blogger.com/profile/14272771674522330898noreply@blogger.com0India20.593684 78.962880000000041-8.6044825 37.654286000000042 49.791850499999995 120.27147400000004tag:blogger.com,1999:blog-6212789510390375574.post-52511885148583400122017-07-12T15:13:00.000+05:302017-07-12T15:13:02.822+05:30Impact of GST on Rentals from Immovable Property<div dir="ltr" style="text-align: left;" trbidi="on">
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<b><u><span style="font-family: Arial, sans-serif; line-height: 18.4px;"><span style="font-size: x-small;">Rental from Immovable Property in GST Regime<o:p></o:p></span></span></u></b></div>
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<span style="font-family: Arial, sans-serif; line-height: 18.4px;"><span style="font-size: x-small;">Under GST Regime, “renting of immovable property” is included in schedule II which defines it as supply of services on which the GST rate is 18%. However Entry no. 12 of exemption Notification no. 12/2017 dated 28.06.2017 exempts the services by way of renting of residential dwelling for use as residence, meaning thereby that if the residence dwelling is leased out for commercial purposes then no exemption will apply and the rental from such <a href="http://vgnc.in/impact-gst-construction-industry-real-estate/" target="_blank">residential property</a> being leased out for commercial activity shall be taxable to GST.<o:p></o:p></span></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgSGO5NgrvvyFEBV_fOTRe_Igog6OyQ_Qpgk6UhvaaEkn5U6KTJZJdSdb9w6rqn5LbXX6uw9fo05HpTofZOZ0aalpvLH7ACL-Mwnva0ZdTZyB49nJSflPhr4-fQM2zVraaA1NGSFGwEtllX/s1600/GST-Impact-on-Rentals-from-immovable-property.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="534" data-original-width="930" height="366" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgSGO5NgrvvyFEBV_fOTRe_Igog6OyQ_Qpgk6UhvaaEkn5U6KTJZJdSdb9w6rqn5LbXX6uw9fo05HpTofZOZ0aalpvLH7ACL-Mwnva0ZdTZyB49nJSflPhr4-fQM2zVraaA1NGSFGwEtllX/s640/GST-Impact-on-Rentals-from-immovable-property.jpg" width="640" /></a></div>
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<b><u><span style="font-family: Arial, sans-serif; font-size: 10pt; line-height: 15.3333px;">Supply is Interstate or Intrastate, a tricky proposition<o:p></o:p></span></u></b></div>
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<span style="font-family: Arial, sans-serif; line-height: 18.4px;"><span style="font-size: x-small;">The concept whether the supply is interstate or intrastate is new so far as services are concerned. In pre <a href="http://vgnc.in/impact-affordable-housing-gst-regime/" target="_blank">GST regime</a> service tax was a Central Tax there was no State Tax on services. But in GST regime supply of services are subject to Central Tax as well as State Tax in the like manner as applicable in case of supply of goods. With this structural shift the need to bifurcate the supply of services into interstate supply and intrastate supply has arisen such that the portion of state tax can go to the State of consumption of services.<o:p></o:p></span></span></div>
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<span style="font-family: Arial, sans-serif; line-height: 18.4px;"><span style="font-size: x-small;">With this conceptual understanding<b> </b>let us now understand as to how<b> </b>the supply of service is classified into interstate or intrastate. For this purpose two co-ordinates are to be established, one is the <i>“Place of Supply of Services”</i> [refer to section 12 of IGST Act] and second is the “location of supplier of services” [refer to section 2(15) of IGST Act].<o:p></o:p></span></span></div>
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<span style="font-family: Arial, sans-serif; line-height: 18.4px;"><span style="font-size: x-small;"> If these two coordinates, namely<o:p></o:p></span></span></div>
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<span style="font-size: x-small;"><span style="font-family: Arial, sans-serif; line-height: 14.95px;">(a )<span style="font-family: "Times New Roman"; font-stretch: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: Arial, sans-serif; line-height: 14.95px;">The Place of supply of services, and<o:p></o:p></span></span></div>
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<span style="font-size: x-small;"><span style="font-family: Arial, sans-serif; line-height: 14.95px;">(b)<span style="font-family: "Times New Roman"; font-stretch: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: Arial, sans-serif; line-height: 14.95px;">The location of supplier of services.<o:p></o:p></span></span></div>
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<span style="font-family: Arial, sans-serif; line-height: 18.4px;"><span style="font-size: x-small;">Fall in two different States then it is an interstate supply and if both of these two coordinates fall in the same state then it is an intra-state (local) supply. <o:p></o:p></span></span></div>
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<span style="font-family: Arial, sans-serif; line-height: 18.4px;"><span style="font-size: x-small;">Now going by the above yardstick let us see what will happen to a case of rental from immovable property. Let us take an example of a landowner who is located in Delhi and owns an immovable commercial property in Mumbai which he has rented out there at. The question is whether the land owner will have to take GST registration in the State of Maharashtra which is undisputedly the place of supply or instead whether the land owner can take <a href="http://vgnc.in/registration/" target="_blank">GST registration</a> in Delhi which is his usual place of residence and treat it as interstate supply and accordingly charge IGST. For that let us examine the above two co-ordinates.<o:p></o:p></span></span></div>
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<span style="font-size: x-small;"><b><span style="font-family: Arial, sans-serif; line-height: 14.95px;">(a)<span style="font-family: "Times New Roman"; font-stretch: normal; font-variant-numeric: normal; font-weight: normal; line-height: normal;"> </span></span></b><b><span style="font-family: Arial, sans-serif; line-height: 14.95px;">Place of Supply<o:p></o:p></span></b></span></div>
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<span style="font-family: Arial, sans-serif; line-height: 18.4px;"><span style="font-size: x-small;">As per section 12(3) of IGST Act the place of supply of service in relation to an immovable property shall be the location at which the immovable property is located. Therefore in this case the place of supply is undisputedly Mumbai because the property is located thereat. <o:p></o:p></span></span></div>
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<span style="font-size: x-small;"><b><span style="font-family: Arial, sans-serif; line-height: 14.95px;">(b)<span style="font-family: "Times New Roman"; font-stretch: normal; font-variant-numeric: normal; font-weight: normal; line-height: normal;"> </span></span></b><b><span style="font-family: Arial, sans-serif; line-height: 14.95px;">Location of supplier <o:p></o:p></span></b></span></div>
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<span style="font-family: Arial, sans-serif; line-height: 18.4px;"><span style="font-size: x-small;">For this the reference is directed to section 2(15) of IGST Act. Section 2(15) contains four clauses (a),(b),(c),(d) to determine the location of the supplier of service.<o:p></o:p></span></span></div>
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<span style="font-family: Arial, sans-serif; line-height: 18.4px;"><span style="font-size: x-small;">Clause (a) says that location of a supplier means a place of business wherefrom the supply is made. To fulfill this test we have to see whether the land owner is having any place of business in Mumbai just by having an immovable property thereat.<o:p></o:p></span></span></div>
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<span style="font-family: Arial, sans-serif; line-height: 18.4px;"><span style="font-size: x-small;">For the meaning of “place of business” reference is directed to section 2(85) of CGST Act which defines a “place of business” wherefrom a business is ordinarily carried on and/or where a warehouse or go down or any other place for storage of goods is located and/or books of accounts are maintained and/or the business through agent is carried on.<o:p></o:p></span></span></div>
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<span style="font-family: Arial, sans-serif; line-height: 18.4px;"><span style="font-size: x-small;">Just having an immovable property doesn’t qualify this test as per section 2(85) of CGST Act, so in our example there is no “place of business” of the landlord in Mumbai.<o:p></o:p></span></span></div>
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<span style="font-family: Arial, sans-serif; line-height: 18.4px;"><span style="font-size: x-small;">Now let us examine clause (b) whether the land lord is having fixed establishment in Mumbai and for that reference is directed to section 2(50) of CGST Act, wherein a fixed establishment is a place which is characterized by a sufficient degree of permanence and suitable structure in terms of human and technical resources. This test of having human and technical resources is also not qualified by just having immovable property at Mumbai. So Clause (b) has no application in our case.<o:p></o:p></span></span></div>
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<span style="font-family: Arial, sans-serif; line-height: 18.4px;"><span style="font-size: x-small;">Now let us examine Clause (c) of Sec 2(15) of IGST Act. It pertains to a supply of service from more than one establishment and thus has no application in our case.<o:p></o:p></span></span></div>
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<span style="font-family: Arial, sans-serif; line-height: 18.4px;"><span style="font-size: x-small;">Therefore our case finally falls in the residual clause (d) which says that in the absence of clause (a),(b),(c) being applicable, the location of usual place of residence shall be the location of the supplier of services within the meaning of clause (d) of sec 2(15) of IGST Act.<o:p></o:p></span></span></div>
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<b><span style="font-family: Arial, sans-serif; line-height: 18.4px;"><span style="font-size: x-small;">Conclusion<o:p></o:p></span></span></b></div>
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<span style="font-family: Arial, sans-serif; line-height: 18.4px;"><span style="font-size: x-small;">Therefore in our example the location of the landlord will be Delhi while the place of supply will be Mumbai and hence as per section 7 of IGST Act this will be an interstate supply subject to IGST and there is no need for the landlord to take GST registration in the Mumbai (State of Maharashtra)</span></span></div>
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Anonymoushttp://www.blogger.com/profile/14272771674522330898noreply@blogger.com0India20.593684 78.962880000000041-8.6044825 37.654286000000042 49.791850499999995 120.27147400000004