Coeict Consulting Pvt. Ltd.

Coeict Consulting Pvt. Ltd. COEICT is formed by the Industry leaders who have vast experience (National as well as International) in their area of work with mission to deliver the bes B.

Coeict is formed by the Industry leaders who have vast experience (National as well as International) in their area of work with mission to deliver the best with Cost Effective and Customer First Approach with timely delivery globally. Team
Our team of professionals comprises of

Chartered Accountants
Tax Consultants
Company Secretaries
Lawyers
MBAs
IT Experts

and with the

ir profound knowledge and expertise enable us to offer our services with perfection and to the utmost satisfaction of our clients. Corporate Value and Vision
We follow the highest ethical standards to maintain professional relationship with our clients. Our team of experts ask for client's opinion and honor all of the client's commitments and obligations. With strict adherence of Ethics, Integrity and Trust, our values anchor our service and we hope to be the world leader. Rapid growth of Indian Economy, Simple Procedures, Low Labour Cost and a Vast Customer Base are the vital factors that attracts Industrialists all over the world to invest in India and set up their business in India. Doing Business in India has become more easy after the recent Make In India Programme. As per World Bank report on Doing Business in India the DTF is 53.97%. Natural Resources such as Coal, Iron Ore, Manganese Ore, Bauxite, Natural Gas, Limestone etc are available abundantly in the country. India is well connected by Air, Road, Rail & Water having more than 125 International Airports and the Indian Railways is the largest network in the world comprising of 115000km of track over a route of 65436 km. India has also major ports at Chennai, Kolkatta, Kandla, Kochi, Mormgoa, Mumbai, New Mangalore, Tuticorin and Vishakapatnam which connects the whole country through Waterways of approximately 14500 km. With all these advantages, Indian Economy grows steadily and World Bank predicts 6.7% GDP growth in 2015 for India makes an automatic destination for Investment and Business opportunities. Positive growth has been in 13 industry groups in the manufacturing sector during December 2014 (as per 2-digit NIC-2004). The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of December 2014 stand at 131.6, 192.9 and 177.6 respectively, with the corresponding growth rates of (-) 3.2%, 2.1% and 4.8% as compared to December 2013 which proves that India is natural choice for setting up business. The Indian Industry and Sectors is mainly classified as
A. Industrial Sector Consists of Engineering, Auto Industry, Biotechnology, Cement, Chemicals. Infrastructure Sector Consists of Health, Civil Aviation, Defence, Education, Ports, Power
C. Service Sector Consists of Financial Services, IT & ITES, Insurance, Media & Entertainment, Retailing, Tourism With Government has raised the Foreign Direct Investment (FDI) Limit upto 100% in many sectors. In addition to the above, the Government of India has also taken several measures to protect Intellectual Property Rights of Creators and Innovators makes a conducive atmosphere for doing business in India. The Government of India after its international marketing strategy Make in India� mainly to strengthen the manufacturing sector has simplified the procedures for doing business in India, still requires compliance to be fulfilled. COEICT provides complete solution under one roof for its both global and local clients desirous of doing business in India. With our team of professionals, we provide expert consultancy of both Pre and Post Setup helps our client hassle free solution to set up business in India.

Doing Business in IndiaThe world bank prepares a study and maintains a data base of Ease of Doing Business in any countr...
28/04/2017

Doing Business in India
The world bank prepares a study and maintains a data base of Ease of Doing Business in any country throughout the World. It has a detailed procedure and questions which the Bank asks to its respondents in a random survey and based on this sample it ranks the country on the ease of Doing Business. The parameters on which the ranking is based are

Starting a Business :
Dealing with Construction Permits
Getting Electricity
Registering Property
Getting Credit
Protecting Minority Investors
Paying Taxes
Trading across Borders
Enforcing Contracts
Resolving Insolvency
The India Government at the Centre has made a lot of changes in the existing Acts and have introduced many new legislatures to improve this ranking. We at COEICT Consulting helps business to start a business, deal with construction receipts,get electricity connection,register property,getting credit,protecting minority investors,paying taxes,trading across borders,enforcing contracts. read more about doing business in india at http://www.coeictindia.com/Doing-Business-in-India/Doing-Business-in-India

Agency Setup in India1. WHAT IS AN AGENCY...??A consensual relationship created by contract or by law where one party, t...
23/04/2017

Agency Setup in India

1. WHAT IS AN AGENCY...??

A consensual relationship created by contract or by law where one party, the principal, grants authority for another party,theagent to act on behalf of and under the control of the principal to deal with a third party. An agency relationship is fiduciaryin nature, and the actions and words of an agent exchanged with a third party bind the principal.
2. HOW CAN AN AGENCY BE CREATED...??
An agency is created by express appointment when the principal appoints the agent by express agreement with the agent. This express agreement may be an oral or written agreement between the principal and the agent. Contract law principles apply to an agency agreement.

"No consideration is necessary to create an agency".
MODES OF CREATION
(a) Express Appointment- An agency is created by express appointment when the principal appoints the agent by express agreement with the agent. This express agreement may be an oral or written agreement between the principal and the agent.

The general rule is that agency may be created orally and there is no formality for the creation of agency by express agreement. The one exception is where an agent is appointed to execute a deed on behalf of the principal. In this case, the agent will have to be appointed by deed, which is called a power of attorney.

(b) Agency by estoppel (Implied appointment)- Agency by estoppel arises when A makes a representation to a third party, whether by words or conduct, that B is his agent, and subsequently that third party deals with B as A's agent in reliance on such representation. A will not be permitted (is estopped) to deny the existence of the agency if to do so would cause damage (usually financial loss) to that third party.

(c) Agency by Ratification- Agency by ratification arises when a person (the principal) ratifies (that is, approves and adopts) an act which has already been done in his name and on his behalf by another person (the agent) who in fact, had no actual authority (whether express or implied) to act on his (the principal's) behalf when the act was done.

The person who ratifies an act of another person must have been in existence and have the legal capacity to carry out that act himself both at the time when the act was done and at the time of ratification. A person may lack legal capacity on grounds of bankruptcy, infancy or mental incapacity.

(d) Agency of necessity- Agency of necessity arises when a person ("A") is faced with an emergency in which the property of another person ("B") is in imminent jeopardy and it becomes necessary, in order to preserve the property for A to act for and on behalf of B. In this case, A acts as an agent of necessity of B.
3. WHO CAN SETUP AN AGENCY...??
read more about agency setup in india at http://www.coeictindia.com/Doing-Business-in-India/Agency-Setup-in-India

Agency Setup in IndiaAGENCYSetting up an Agency/Distributorship is a strategic marketing for aggressive branding and pro...
25/03/2017

Agency Setup in India
AGENCY
Setting up an Agency/Distributorship is a strategic marketing for aggressive branding and promotions of the product used by various product manufacturers & service providers. This provides an indirect presence in India to the foreign entity. An Indian entity can be appointed as agent of the foreign business. Depending upon the scope of the agency agreement, the agent can buy or sell or provide any other service.

COEICT ROLES & RESPONSIBILITY
We perform this function right from the documentation stage to incorporation approval. We shall be providing you with the docket containing

Application made to RBI
Approval documents received from the RBI
Receipt of the fees and taxes paid in this regard
CD containing the documents & representation made to the RBI
List of compliances to be made on regular intervals.
Filing of application for Income Tax Account Number.
read more http://www.coeictindia.com/Doing-Business-in-India/Agency-Setup-in-India

MAKE IN INDIA - NEW INITIATIVESA major national initiative designed to facilitate investment, foster innovation, enhance...
24/03/2017

MAKE IN INDIA - NEW INITIATIVES
A major national initiative designed to facilitate investment, foster innovation, enhance skill development, protect intellectual property, and build best-in-class manufacturing infrastructure. There has never been a better time to Make in India.

India is the fastest growing large economy in the world today – an impressive position it has held since it overtook China in the year 20151 – with the International Monetary Fund (IMF) predicting that India is likely to retain the status till 2020. With the Gross Domestic Product (GDP) of the country growing at more than 7% since 2014, the IMF has kept projections for India’s growth in 2016-2017 at 7.5%2, which is remarkable since there has been a forecast of the global growth predicted at 3.4% (2016) / 3.6% (2016).3 India is also the third-largest economy in the world regarding its purchasing power parity according to the World Bank with the GDP5 of over USD 2.1 trillion.5 It was named amongst the top 10 Foreign Direct Investment (FDI) destination in 2015.

The government of India has already taken several steps for some much-needed change in the country. Numerous national developmental projects have been launched in the recent years which cover a wide array of sectors to initiate economic reform as well as target social change. Complementary to ‘Make in India’ that aims to promote the 25 sectors identified for investment in manufacturing, the government has also launched progressive initiatives like: read more at http://www.coeictindia.com/make-in-india

India to be worlds 3rd assembler of iPhonesBengaluru: With the upcoming Bengaluru assembly plant of Apple, India will be...
11/01/2017

India to be worlds 3rd assembler of iPhones

Bengaluru: With the upcoming Bengaluru assembly plant of Apple, India will become only the third country to do the final assembly of iPhones -an indication of how important the country has become for the world's most-valued company. Apart from one assembly facility in Brazil, all of Apple's assembly units for its bestselling product are in China.

Apple uses a global and fairly complex supply chain.The parts for the iPhone, iPad, iPod and Mac are manufactured, mostly by third parties, across 28 countries. It has 766 suppliers, of which 346 are based in China, 126 in Japan, and 69 in the US. There is one in India -in Sriperumbudur in Tamil Nadu. That's a unit of Flextronics. But it's not clear what the unit makes.

Some parts made by these suppliers are sub-assembled in certain locations. All the sub-assembled units and other parts are brought together for final assembly in either China or Brazil in the case of iPhones. For the Apple Mac, the final assembly happens in China, US, and Ireland -the last of these is Apple's own facility -and for the iPod, China is the only final assembly location.

With India becoming one of the world's biggest smart of the world's biggest smartphone markets and one of iPhone's fastest growing markets, Apple has decided to assemble the iPhone here.As TOI reported last week, Taiwan's Wistron, one of Apple's suppliers and assemblers, will set up a facility in Bengaluru's industrial hub of Peenya for the purpose.The products from this facility are expected to be available in the domestic market towards the end of next year.

Wistron has three supply facilities for Apple and an iPhone final assembly unit in China.

"An assembly unit does not require big investments," said Jaipal Singh, market analyst at research firm IDC. He said this has been a strategy that all Chinese handset manufacturers have followed in India over the past couple of years. "Labour in India is cheaper than in China. It makes sense to grow the Indian market by establishing a domestic plant," he said. Analysts said the unit would also manufacture for exports over time.

Data from Hong Kongbased Counterpoint Technology Market Research showed Apple sold 2.5 million iPhones in India from October 2015 to September 2016, a rise of more than 50% over the year-ago period. Apple India clocked robust sales touching Rs 9,997 crore in the 2016 financial year, up 56% from Rs 6,472 crore in the year before. iPhones are expensive, but with a local assembly unit, some analysts believe, Apple can avoid import tariffs and cut the iPhone price by around 15%, allowing it to expand the market.

Apple CEO Tim Cook recently said India's low percapita income would not become an impediment in growing Apple's market share in the country . More than 50% of Apple's sales in India are contributed by older models which become cheaper once newer models are launched, indicating the brand's aspirational value.Apple has around 40-45% market share in India's premium phone segment.

Source: The Times of India
http://www.coeictindia.com/coeict-news

FREQUENTLY ASKED QUESTIONS ON DEMONETISATION1. Why is this scheme introduced?The incidence of fake Indian currency notes...
17/12/2016

FREQUENTLY ASKED QUESTIONS ON DEMONETISATION

1. Why is this scheme introduced?
The incidence of fake Indian currency notes in higher denomination has increased. For ordinary persons, the fake notes look similar to genuine notes, even though no security feature has been copied. The fake notes are used for antinational and illegal activities. High denomination notes have been misused by terrorists and for hoarding black money. India remains a cash based economy hence the circulation of Fake Indian Currency Notes continues to be a menace. In order to contain the rising incidence of fake notes and black money, the scheme to withdraw has been introduced.

2. What is this scheme?
read more http://www.coeictindia.com/FREQUENTLY-ASKED-QUESTIONS-ON-DEMONETISATION

India to be most digitised economy in 7 years by Microsoft Bill GatesNew Delhi: Noting that India has great potential to...
22/11/2016

India to be most digitised economy in 7 years by Microsoft Bill Gates

New Delhi: Noting that India has great potential to become the most digitised economy globally in mere seven years, Microsoft founder Bill Gates has dubbed the government's demonetisation measure as a "bold move" that will help in deflating the Indian shadow economy.

"The Prime Minister's bold move to demonetise high-denomination notes and replace these with new ones with high-security features is an important step to deflate India's shadow economy," Gates said while delivering the Niti (National Institution for Transforming India) Aayog lecture on 'Transforming India' here on Wednesday.

Lauding the Aadhar Card scheme and Pradhan Mantri Jan Dhan Yojna for helping the disadvantaged sections in India to connect to the banking system, Gates said: "India has all the pieces in place for a compelling vision for digital financial inclusion. Aadhar will convert a cumbersome, paper-based account opening process into a 30-second all- digital system."

The Aadhaar Unique ID system will also create a centralised data repository, he added.

Speaking of Artificial Intelligence (AI), Gates, who co-chairs the Bill and Melinda Gates Foundation, said automation, cloud services and AI are poised to eliminate manufacturing jobs.

Describing this as an opportunity for the Indian Information Technology sector, the Microsoft leader called for India to embrace these new technologies, despite the fears provoked by such rapid transformation.

Aiming to work with the government on various issues including e-payments, digital health, digital literacy and e-agriculture in India, Gates held a meeting here with IT and Law Minister Ravi Shankar Prasad on Thursday.

Source: Indo-Asian News Service

http://www.coeictindia.com/India-to-be-most-digitised-economy-in-7-years-by-Microsoft-Bill-Gates

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