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The Goods and Services Tax (GST) is a successor to VAT used in India on the supply of goods and service. Both VAT and GST have the same taxation slabs. Both VAT and GST have the same taxation slabs. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes.
The RAQSCI model is a mnemonic summary of a business model used to define and structure business requirements. With elements ranked in order of importance, RAQSCI stands for: Regulatory; Assurance of supply; Quality; Service; Cost (or commercial) Innovation. [1]
It is made up of an alphanumeric code with a corresponding wording allowing further details to be added regarding the specific nature, purpose or context of the goods or services to be purchased: for example, specific metals may be designated e.g. AA08-2 or AA09-5 ; food form may be designated e.g. BA04-1 (Fresh), BA06-7 (Hot) or BA24-1 (Frozen ...
Strategic sourcing is the process of developing channels of supply at the lowest total cost, not just the lowest purchase price.It expands upon traditional organisational purchasing activities to embrace all activities within the procurement cycle, from specification to receipt, payment for goods and services [1] to sourcing production lines where the labor market would increase firms' ROI. [2]
Indirect procurement is the sourcing of goods and services not related to manufacturing for a business to enable it to maintain and develop its operations. The goods and services classified under the umbrella of indirect procurement are commonly bought for consumption by internal stakeholders (business units or functions) rather than the external customer or client.
Best value procurement (BVP) is a procurement method that looks at factors other than only price, such as quality and expertise, when selecting vendors or contractors. [1] [2] [3] In a best value system, the value of procured goods or services can be simply described as a comparison of costs and benefits. A contractor or vendor is thus selected ...
ERPNext is a free and open-source integrated Enterprise resource planning (ERP) software developed by an Indian software company Frappe Technologies Pvt. Ltd. [2] [3] It is built on the MariaDB database system using Frappe, a Python based server-side framework.
Through Peppol, participant organisations can deliver procurement documents to each other including electronic invoices in machine readable formats, avoiding the labour of data entry. OpenPeppol , a non-profit international association registered in Belgium , is the governing body of the primary implementation and developer of specifications. [ 2 ]