VGNC Business Solution Private Limited

One of the biggest snags of retail industry 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 – non-crime losses (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. 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. Reasons for Shrinkage For those operating in the retail industry, controlling shrinkage is incredibly important. But to bring retail shrinkage under control, one needs to understand the m...

When your business is anticipating growth, a reliable business advisory firm 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. 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 reliable business advisory. In a brief talk with VGNC, one of India’s fastest growing global business advisory firm , 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: A Partner You can Grow with Vipin Garg of VGNC says, “A business advisory firm should be able to understand all the issues form their client’s viewpoi...

The cabinet approved the constitution of the fifteenth finance commission. The fifteenth finance commission 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. The panel will have to deal with significant changes in the taxation framework, such as GST before making recommendations. Finance Minister Arun Jaitley announced 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. 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 ...

India, with the shared 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 middle class is an attracting force that drives them to India. Recently, there have been many emerging possibilities for the retail sector. With new businessmen entering the industry, the retail sector is expected to grow rapidly in coming years. 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. Growth in Retail Sector ·          India will gain from the latest FDI policy in retail. ·          Indian retail is attracting investors from across the globe. · ...