O M M S & Associates

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O M M S & Associates

Chartered Accountants, Management Consultant, Transaction Advisory

Audit and Assurance Services:
Risk Management and Internal Controls such as internal audits, risk based process review, forensic services, accounting advisory, etc. Tax and Regulatory Services:
Indirect Taxation and Direct Tax Compliances, Cross Border Tax Advisory, Tax Dispute Resolutions, Tax Health Checkup, etc. Accounts and Finance Consultancy Services: Project Finance Consultancy Services, Bank Liaison Services, Corporate Finance Advisory, Interim CFO Services, End to End Accounting Services, etc. Corporate Services:
Accounting and Reporting System Setup, Corporate Secretarial and FEMA Compliances, Project Management, Business Restructuring, Transaction Advisory, Due Diligence Review, etc. We Endeavor to be a Mascot in the Fraternity for Ethical Practices in every Professional Assignment with Integrated value addition for our Clients. We also intend to provide Management Consulting Services by gaining Expert Knowledge on Varied Problems of Business.

“Our success as consultants will depend upon the essential Acuteness of the advice we give and our capacity for convincing those in authority that it is good.”

10/07/2021

The Real competitive advantage in any business is one word only, Which is "People". - Kamil Toume

As we expand our team, Looking forward to some excellent candidates to join us.

11/07/2018

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Reporting of Foreign Liabilities and Assets

The same is to be complied by Subsidiaries or Associates of Foreign Parents, Indian parent company(is) who have subsidiary(ies) outside India, SPV's, Portfolio Investment etc.

Last Date for Reporting of Foreign Liabilities and Asset to Reserve Bank of India for financial year 31.03.2018 is 15.07.2018. Make sure the same is complied in time to avoid on penalties.

15/05/2016

Currently, Mauritius is a preferred jurisdiction for investment into India with almost 35% of the Foreign Direct Investment (FDI) investments coming from Mauritius. In fact, Mauritius is also the preferred jurisdiction for Foreign Portfolio Investors (FPIs) investing in India’s capital markets with Mauritius-based funds being the second-largest contributor in this space after the USA.

Recently, There has been a Very substantial change in the way India taxes transaction happening from Mauritius, the same has been summarised over here

15/04/2016

Recently the Govt. allowed 100% FDI under automatic route in E-Commerce. Quite a lot definition has been clarified and this being considered a Welcome step in the FDI Regime. On a close reading of Various articles and notes following can be considered a gist of the recent change.

"The biggest challenge in the marketplace model was the preferential treatment given to favored vendors. The new guidelines aimed at the prevention of predatory pricing clarifies that e-commerce entities cannot influence the selling price of goods or services. In other words, the marketplace model is a true reflection of the fact that e-commerce entities only provide a platform and cannot influence or intervene in the commercial terms of the transaction which is purely between the seller and the buyer of the goods and services. These are anti-abuse provisions and hence, the seller will be directly responsible for any warranty/guarantee of the goods and services."

12/03/2013

CAR SALES -> An Indicator for Prevailing Economic Conditions!

Rightly quoted in a News Paper..

The car industry is a key economic marker, because of its unmatched backward linkages – to component manufacturers, tyre companies, steel producers, battery makers, glass manufacturers, paint companies, and so on – and forward linkages to energy demand, sales and servicing outlets,,,,

How are they (Govt/Businesses) going to drive sales Now,,, It seems Hazy cuz>>>
1.High Inflation has led to Low Savings nd Reduced Discretionary spends...
2.High Fuel cost, Even CNG is on a Rise
3.No additional Depreciation Allowance
4.SUV sales were on a High,,but now Duty increase may hamper their growth..

07/01/2013

http://ommsassociates.icai.org.in/

31/12/2012

--- With the De-Merger,,,Wipro does a Triple.....

Wipro Demerges its CORE Business (IT) from Non Core Business by Setting up a New Company, Which will be an Unlisted Entity ( Wipro Enterprise).

This seems a very good move to manage your non core business with a concentrated effort & focus which it Requires.

But the Clincher is to look at the second aspect of this deal///

Mr Premji will be giving shares of Wipro Ltd. as consideration to present S.H for this De-merger.

Now comes the Crux " As per Norms there has to be 25% Pub S.H", which is not there in Wipro. So by offering shares to Current S.H Mr Premji reduces his holding to around 70% and also does the Compliance of LAW.

This seems a very good Arrangement coming from Wipro M&A Team.....Nice Job Done .
As
1.Non Core business gets a Dedicated Attention as being Separated
2.S.H gets their reward for Loyalty.
3.Legality also satisfied by reducing promoter holding to 70%.

10/12/2012

India Stays a Silent Spectator once again!!!!!!!

Firstly when GMR got Evicted from Maldives & Now an Exorbitant increase from Sri-Lankan Govt in Excise duties on Indian Vehicles & other prejudices.

Lanka has allowed exemptions to Japan, Clearance of 2 Chinese auto projects. Sadly we have signed an agreement under which we allow goods from south asian countries @0% import duties..so Actually allowing chinese & Japanese goods @0% duty.......A gross act by The Lankan govt.

1/8 of total Vehicles Exported are exported to Sri-Lanka...,,,to give numbers Alto prices jumped by Rs 2.5Lacs & HCV prices incresed by 10Lacs

The Important Notable point is that " NONE OF THE AUTO STOCK HAS TAKEN A HIT TODAY IN THE MARKET",,,,,STRANGE??????

Discussion Required.....Participate.....

- First Post

28/11/2012

Mr Vijay Chauhan, Chairman Parle Products says that,,

Parle G Biscuits monthly production is of such a Magnitude that, if these biscuits are staked side-to-side, it would cover the distance from The Earth to The Moon and back,....

Thats where Parle has reached from a Rs 50Lac Pvt Company...

- Mint...

Address

401, Anshi Avenue, Opp Honda Showroom, Polytechnic Road, Ambawadi
Ahmedabad
380006

Telephone

+91-79-40390425

Website

http://www.ommsindia.co.in/

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