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Bureau of Indian Standards. The Bureau of Indian Standards ( BIS) is the National Standards Body of India under Department of Consumer affairs, [ 2] Ministry of Consumer Affairs, Food & Public Distribution, Government of India. [ 3] It is established by the Bureau of Indian Standards Act, 2016 which came into effect on 12 October 2017. [ 4]
Closeout (sale) A closeout or clearance sale (also called a closing down sale in the United Kingdom [ 1]) is a discount sale of inventory either by retail or wholesale. It may be that a product is not selling well, or that the retailer is closing because of relocation, a fire (a fire sale ), over-ordering, or especially because of bankruptcy. [ 2]
The Indian Contract Act, 1872[ 1] prescribes the law relating to contracts in India and is the key act regulating Indian contract law. The Act is based on the principles of English Common Law. It is applicable to all the states of India. It determines the circumstances in which promises made by the parties to a contract shall be legally binding ...
The goods declared into a SEZ shall be used by the Unit or the Developer only for carrying out the authorized operations. The goods can be utilized for purposes other than for the authorized operations or if the Unit or Developer fails to account for the goods as provided under these rules, duty shall be chargeable on such goods as if these goods have been cleared for home consumption.
Electronic data interchange ( EDI) is the concept of businesses electronically communicating information that was traditionally communicated on paper, such as purchase orders, advance ship notices, and invoices. Technical standards for EDI exist to facilitate parties transacting such instruments without having to make special arrangements.
Customs house agent. In India, a customs house agent (CHA) is licensed to act as an agent for transaction of any business relating to the entry or departure of conveyances or the import or export of goods at a customs station. CHAs maintain detailed, itemized and up-to-date accounts. A CHA license may be temporary or permanent.
The Indian Sale of Goods Act, 1930 is a mercantile law which came into existence on 1 July 1930, [ 1][ 2] during the British Raj, borrowing heavily from the United Kingdom's Sale of Goods Act 1893. It provides for the setting up of contracts where the seller transfers or agrees to transfer the title (ownership) in the goods to the buyer for ...
Bohni ( Hindustani: बोहनी or بوہنی) is a social and commercial custom of India and Pakistan that is based on the belief that the first sale of a day (or other selling period) establishes the seller's luck for subsequent choti transactions during the remainder of the day. [1] [2] In practical terms this means that sellers try to ...