Latest Services Latest Services Thu, 09 Apr 2020 03:32:28 +0530 en-us Regulatory Trade Compliance Tue, 15 Oct 2019 00:00:00 +0530 We are known to render several value added Regulatory Trade Compliance services to the service & manufacturing industry in field of import-export for meeting day to day regulatory compliance from different government departments. Legal Metrology consultant Tue, 15 Oct 2019 00:00:00 +0530 Ace Consulting Engineers  is a  professionally managed  Legal Metrology Registration consultant for  obtaining Model Approval Certificate as per the Legal Metrology Approval of Model Rules, 2011 of  Ministry of Consumer Affairs for Measuring & Weighing Instruments / equipment / devices.   Our company renders efficient Legal Metrology Consultancy services. We help clients for Registration in Legal Metrology Act. Our team provides complete assistance of registration keeping in view of the requirements of The Legal Metrology (Packaged Commodities) Rules.The Legal Metrology (Packaged Commodities) Rules, 2011 The Legal Metrology (Packaged Commodities) Rules, 2011 has been framed under section 52(2)(j) and (q) of the Act and has, since, been amended several times, the latest being made under Notification bearing no. GSR 359(E) dated 06.06.2013.(1st amendment of 2013). Every manufacturer or packer or importer  of packaged commodities require Registration under the Rule 27 within 90 days of starting business. A registration may be made with the Controller of the state where the factory is located Registration with any authority is valid throughout the country for items and for factories / premises mentioned in the Registration Certificate. Once registration is made, additions and alterations can be made by filing an application before the same authority. BIS Registration consultant Tue, 15 Oct 2019 00:00:00 +0530 ACE  is a  professionally managed BIS Registration consultant company for BIS Certification for Indian and foreign manufacturer who want to sell their product in India. Our qualified team renders end to end  BIS Certification services for IT and Electronics products. Compulsory Registration Scheme (CRS) contains a list of products that are mandatory to get BIS Registration Certificate before launching in India. All manufacturers need to apply for BIS Certificate, which assure that their products are safe for the consumers in India.   Consulting services for obtaining BIS Registration of Electronic & IT Equipments for Importers. CDSCO License & Registration Consultant Tue, 15 Oct 2019 00:00:00 +0530 Details : Offering Approval From Drugs Controller General India Medical device registration consultant Cosmetics Product registration with CDSCO for import of Cosmetics product in India. Medical Device Registration with CDSCO for import of Medical Devices in India. (where predicate Device is already available in India) Diagnostic Kit/ In-vitro Medical Device Registration with CDSCO for Import in India Drugs Registration & Import permission from CDSCO SUGAM Registration of Indian Agent/Importer on CDSCO Portal. Calculation Of Useful Life Tue, 15 Oct 2019 00:00:00 +0530 CALCULATION OF USEFUL LIFE OF ASSETS BY CHARTERED ENGINEER   Ace Consulting Engineers offer services for Computation of Useful Lives of Assets as per the requirement of Company’s Act , 2013 keeping in view of the nature of tangible assets and number of working shifts.   Useful Lives to Compute Depreciation The provision in Companies Act, 2013 emphasises on the concept of useful life of assets by providing indicative life and residual value for assets. In case, the companies use the values that are different from the Schedule II, then they would be required to disclose in their financial statements to justify the variation along with the technical report by an independent Chartered Engineer and Registered Valuer. Fixed Asset Componentization Tue, 15 Oct 2019 00:00:00 +0530 FIXED ASSET COMPONENTIZATION ANALYSIS BY CHARTERED ENGINEER   Ace Consulting Engineers undertake cost segregation analysis, where different parts of a machine or equipment are separated into different lives to take advantage of accelerated depreciation for tax purposes. Componentization requires each part of a fixed asset , with a cost that is significant in relation to the total cost of the item, to be depreciated separately. A detailed report on fixed asset componentization is required from the qualified Chartered Engineer & Registered Valuer by the Tax auditors to justify the requirements of Ind AS-16.   The primary objective of the component accounting as per Ind AS-16 for Plant and Equipment are :-   To ensure the depreciation is in line with the actual usage of assets and to maximize the usage of significant components of the asset. To ensure that the financial position is fairly reflected in the balance sheet and that the income statement appropriately reflects the consumption of economic benefits inherent in those assets Leasing of Machinery & Equipments Tue, 15 Oct 2019 00:00:00 +0530 Ace Consulting Engineers provide end-to-end support in selection of appropriate Lease typeLease duration, Financial terms , determination of residual values, market value of equipment, tax responsibility including calculation of Lease rents and Finalisation of Lease Agreements. A lease in a simple terms is an extended rental agreement under which the owner of the equipment allows the user to operate make use of the equipment in exchange for periodic lease payments. In leasing terminology, the owner is the lessor, the user is the lessee. Leasing of equipments is largely favoured by small businesses, which often have fewer options because of limited capital.   Types of Leases -The two most popular types of leases are operating and long-term or capital leases.Operating leases are characterized by short-term where the lessor bears the risk of obsolescence and enjoys such benefits as depreciation.   Long-term, also known as full payout or financial leases, are sources of financing for assets the lessee company wants to acquire and use for longer periods of time where the lessee is responsible for maintaining and insuring the asset. Consulting Services Tue, 15 Oct 2019 00:00:00 +0530 Consulting Services for M-SIPS Tue, 15 Oct 2019 00:00:00 +0530 Ace Consulting Engineers render professional services for the applicants of ESDM ( Electronics System Design & Manufacturing Sector )under Modified Special Incentive Package Scheme ( M-SIPS) for preparation of Detailed Project Report and filing of online applicatio for obtaining Letter of Approval from MeitY.   Once the M-SIPS application is approved , we further assist the applicants for realisation of incentives as per the Guidelines for Disbursement of Incentives dated 04 June 2014.   Chartered Engineer Certification for the date of start of commercial production of the applicant. Certification for Installation of plant & machines and their end use as claimed in the M-SIPS application. Assessment and Finalisation of Plant Layouts including Chartered Engineer Certification in support of the disbursement application. Valuation of Imported and domestically purchased machines of plant including Chartered Engineer Certification for fair market value under the project in which the M-SIPS incentives are claimed. Assessment & Evaluation of Tools, Dies, Moulds, Jigs, Fixtures, Parts, Accessories , Components & Spares of Capital Goods for approval as Capex by MeitY. Performance Evaluation of Solar Power Plants Tue, 15 Oct 2019 00:00:00 +0530 Ace Consulting Engineers offers independent Third-Party Inspection , Verification and Performance Evaluation by MNRE empanelled Chartered Engineer& qualified team of Engineers for Grid Connected , Stand-Alone and Roof Top Solar PV Power Plants   There has been a significant rise in the Photovoltaic (PV) electrification projects both grid- connected and Stand-alone in the country. However due to absence of formal checks & balances in the current system , majority of the solar power projects fails to meet the expectations of end-users in terms of ROI , Performance , Life expectancy and hence they fall short of their intended aim.   Performance Evaluation carried by our team comprise the inspection & verification on site during the fabrication / construction stage , Installation & erection stage , during pre-commissioning and post – commissioning of solar power projects. Our evaluation report helps to improve the system design , maintenance standards and the long term sustainability of solar power plants. Consulting Services for MOFPI Tue, 15 Oct 2019 00:00:00 +0530 Chartered Engineer Certification for Valuation, End Use and Installation of Plant & Machinery proposed in Pradhan Mantri Kisan Sampada Yojana and National Mission of Food Processing units. Asset Valuation Services Tue, 15 Oct 2019 00:00:00 +0530 Chartered Engineer Certification for GST Refund Tue, 15 Oct 2019 00:00:00 +0530 Ace Consulting Engineers provide Chartered Engineer Certification and appropriate guidance to the applicants for getting timely refund from GST authorities.   Certification by a Chartered Engineer is required for claiming the GST refund on inputs of raw material used in the production of finished product as output. Companies have to apply for refund on account of  ITC  accumulated due to inverted tax structure in FORM  GST-RFD-02  to GST  authorities for claiming refund.   Chartered Engineer Certificate for installation of machines and equipments is required for claiming the GST refund against the installed capital goods for confirmation of their commissioning .   GAIL Tender Chartered Engineer Attestation Tue, 15 Oct 2019 00:00:00 +0530 We do chartered engineer attestation for the aspiring participants of gail tenders and others.   The bidder has to furnish documentary evidence in support of the technical evaluation bid (i) certificate from chartered engineer (ii) details of similar works / services in past 07 (seven) years and certification from a chartered engineer (iii) details of financial capability of the bidder duly certified by chartered accountant (iv) work order, sor, completion certificate all notarized and duly certified by chartered engineer in proof of their meeting the criteria along with the bid to establish his experience and track-record for meeting bid evaluation criteria. MNRE Empanelled Chartered Engineer Tue, 15 Oct 2019 00:00:00 +0530 NAVEEN ARORA –  Chartered Engineer empanelled  with Ministry of New and Renewable Energy for finalisation and certification of  Bill of Material of Solar Power Developers for availing concessional customs duty benefits.  Refer Sr. No. 7 of the attached list by clicking the below link:-    Ace Consulting Engineers offer end-to-end services from preparation of Bill of Material , uploading on the MNRE portal upto the preparation and submission of Reconciliation Report to MNRE  upon completion.   Our role for Bill of Material (BOM) approval and issuing of CCDC would comprise:- Accessing MNRE Online Portal   Entering initial information for incentives  Generation of Username and password from system  Log in the system and completion of projects details Entry of complete Bill of Material (BOM) Entry of complete project details  Chartered Engineer Certification of final BOM Uploading the signed copy of BOM & other papers on the portal  Submission of original application to MNRE Submission of clarifications to MNRE by the Developer / EPC Preparation of CCDC and uploading on MNRE portal Arranging finalised CCDC for signing of Developer / EPC   Submission of signed CCDC to MNRE for approval Uploading of  approved CCDC on the  portal    Our role for reconciliation of Solar Energy Projects upon completion would comprise :- Arranging the documents of commissioning  the project.  Preparation of reconciliation report from the portal.  Chartered Engineer Certification of Reconciliation Report including physical inspection of site Uploading of reconciliation report through online portal  Submission of hard copies of Reconciliation Report to MNRE Uploading of  MNRE acknowledgement through online portal Patent Registration Services Tue, 15 Oct 2019 00:00:00 +0530 Naveen Arora- a registered Patent Agent for Patents & Designs with Office of Controller General of Patents, Designs & Trade Marks.   A Patent agent is a person, authorized by law to deal with patent applications and has a significant role to play throughout the patent process. Rights of a Registered Patent Agent include (a) to practice before the Controller General of Patents , Designs & Trade Marks and b) to prepare all documents, transact all business and discharge functions as may be prescribed in connection with any proceeding before the Controller under the Patent Act, 1970.    Patent and Design Registration    Patent agent, being a person of expertise in a particular technical field has a strong understanding of the scientific and technical aspects of an invention.    Ace Consulting Engineers helps the applicant to secure his patent by critically contributing our technical skills and legal knowledge to respond to the rejection and queries from examiner. Our dedicated team of professionals render following services :-   Drafting and filing Patent application with Provisional specification along with all necessary forms such as: Form1, Form 2 , Form 3, Form 5 , Form 8 and Form 26 Drafting and filing complete specification after filing provisional specification with  all necessary forms such as Form1 , Form 2, Form 3, Form 5, Form 8, Form 18 and Form2 Drafting and filing of patent of addition Drafting and filing of divisional application Making request for filing patent outside India (Form 25) Seeking  permission from National Biodiversity Authority (NBA) for filing IP application under section 6 of The Biological Diversity Act including filing Form-III etc. with NBA Preparing and filing a form for extension ·of time (Form 4) Amending specification and re-filing in response to FER  (Form-13) Filing request for Post dating of application Filing a request for early publication (Form 9) Filing of Working of patents under section 146 (Form 27) Application for revision of terms and condition of license (Form 20) Filing an application for compulsory license (Form 17) Application for revocation of a patent for non working (Form 19) Filing pre-grant opposition Filing notice of opposition (Post grant opposition) in Form 7 Request for the grant of patent under section 26 and 52 (Form 12) Prior art search report for novelty ,inventiveness and utility Preparing and filing a new PCT application Filing national phase applications including changes in the claims, if necessary Charted Engineer Certification Tue, 15 Oct 2019 00:00:00 +0530 Certification For Import Tue, 15 Oct 2019 00:00:00 +0530 NAVEEN ARORA –  Chartered Engineer & Govt. Approved Valuer for Plant & Machinery  empanelled  with all Customs ICD ports at  Delhi , Haryana, U.P. vide their Public Notices for assessment & valuation of goods .   Import of Second Hand Plants, Machinery and Spares As per the Customs notifications regarding the Old & Used / Second Hand Plant & Machineries , the importer has to submit a Chartered Engineer Certificate to Customs for confirmation on the Residual Life , Refurbishment carried, Original Price in the YOM, Country of Origin and Depreciated Value of the second hand goods for the purpose of assessment of Bill of Entry before Importing to our country.   We provide the Chartered Engineer Certificate in line with the FTP guidelines of DGFT and looking into the requirements of Indian Customs after physical examination of the capital goods on Indian ports of clearance.   Calculation of Clamping Force of Injection Molding Machines We provide Chartered Engineer Certificate for identification of clamping force of injection molding machines to ascertain the applicability of anti-dumping duty.     End Use or Application of Imported Machines In order to justify the end use of machines , Customs authorities often require a detailed technical report from registered Chartered Engineer to confirm the appropriate CTH code for assessment of Bill of Entry . We provide the Chartered Engineer Certificate on Delhi NCR Custom ports for fulfilment of Customs requirement as and when asked by the applicants. Certifcations For DGFT_SEZ_EOU Tue, 15 Oct 2019 00:00:00 +0530 Ace Consulting Engineers render Chartered Engineer Certification services for manufacturing units , importers & exporters .   Chartered Engineer CERTIFICATE for RATIFICATON SCHEME   Application has to furnish the complete details as per Appendix-4E along with a certificate from Chartered Engineer in Appendix-4K only in the domain of his/her competence.   After examination of technical details and requirements of raw materials etc. with regard to their technical description , specification and the quantity against each item of import and having due regard to proper technical norms of consumption and after technical scrutiny of relevant process, designs and drawings of the export product, Chartered Engineer has to certify that they are correct in all respects and are actually required for the execution of the export order for which the application is made.   Chartered Engineer CERTIFICATE for 100% EOU   Chartered Engineer Certificate on investment in plant & machinery required by 100% EOU.The certification by chartered engineer is required for investment in plant & machinery for attaining the status of 100 % EOU (Export oriented unit)   Chartered Engineer Certificate for Import into SEZ   Special Economic Zone (SEZ) is a specifically designated duty free enclave and shall be deemed to be foreign territory for the purposes of trade operations and duties and tariffs. Chartered Engineer Certificate is required for bonding / debonding of gods for assessment of duty foregone.   Chartered Engineer Certificate for Installation At the time of final redemption of export obligation license holder shall submit certificate from the Independent Chartered Engineer confirming the commissioning of capital goods and use of spares so imported in the installed capital goods.   CHARTERED ENGINEER CERTIFICATE FOR NEXUS UNDER EPCG SCHEME Appendix – 5A to be furnished on the letter head of Chartered Engineer.   The applicant may apply for EPCG license along with a certificate from the independent chartered engineer on the proforma annexed to Aayaat Niryaat Form certifying the end use of capital goods sought for import for its use at pre production, production or post production stage for the product undertaken for export obligation. The Licensing Authority concerned shall, on the basis of the nexus certificate from an Independent Chartered Engineer (CEC) submitted by the applicant in Appendix 5A to issue the EPCG license. Certification For Export Tue, 15 Oct 2019 00:00:00 +0530 NAVEEN ARORA – Chartered Engineer & Govt. Approved Valuer for Plant & Machinery empanelled with all Customs ICD ports at Delhi , Haryana, U.P.vide their Public Notices for assessment & valuation of goods .   Chartered Engineer Certificate for Export of defective goods In order to establish the identity of the repaired goods at the time of re-import in Customs, it is advisable to obtain a prior report from Customs empanelled Chartered Engineer before exporting the defective part outside the country.   Chartered Engineer Certificate for Export of Old & Used Goods It is mandatory to have a certificate from Customs empanelled Chartered Engineer for second hand machines and equipments being exported from India for assessment of fair market value , residual life and confirmation on its E-Waste nature. Types of Valuation Tue, 15 Oct 2019 00:00:00 +0530 Ace Consulting Engineers follow International Valuation Standards , 2017and undertake every Valuation after considering its intended purpose. We take utmost care that our scope of work should be established , agreed and communicated with the applicant prior to the commencement of Valuation process.   Some of the frequently used Valuation terminologies are :-   Fair Market Value — Installed Expressed in terms of money, at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both having reasonable knowledge of relevant facts, considering market conditions for the asset being valued, independent of earnings generated by the business in which the property is or will be installed, as of a specific date.   Fair Market Value — Removed Expressed in terms of money, at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both having reasonable knowledge of relevant facts, considering the cost of removal of the property to another location, as of a specific date. Replacement Cost New The current cost of a similar new property having the nearest equivalent utility as the property being appraised, as of a specific date.   Reproduction Cost New The cost of reproducing a new replica of an asset on the basis of current prices with the same or closely similar materials, as of a specific date.   Market Value (On a continuing use basis) Market Value on a continuing use basis is a presumption that the entity is a going concern without any compulsion, intention or need to liquidate, otherwise wind up its operations and assumes that the earnings support the value reported. it is assumed that the assets will be exchanged after an adequate period of marketing to obtain its best price and will be sold by way of a private treaty sale where the assets will remain in their existing place and location, therefore, in-situ following sale.   Salvage Value An opinion of the amount, expressed in terms of money that may be expected for the whole asset or a component of the whole asset that is retired from service for possible use elsewhere, as of a specific date.Scrap Value Scrap Value is an opinion of the amount, expressed in terms of money that could be realized for the asset , if it will be sold for its material content, not for a productive use, as of a specific date. Industrial Valuation Tue, 15 Oct 2019 00:00:00 +0530 Ace Consulting Engineers render the professional services in association with qualified team for appraisal of PLANT, MACHINERY & EQUIPMENTS for a wide spectrum of valuation assignments having variable purposes , like : -   For the purpose of Fair Market Value   As per the International Valuation Standards, Market Value is the estimated amount for which an asset should exchange on the valuation date between a willing buyer and a willing seller in an arm’s length transaction, after proper marketing and where each party had acted knowledgeably, prudently and without compulsion.   Valuation for Orderly Liquidation   An orderly liquidation describes the value of a group of assets that could be realized in a liquidation sale, given a reasonable period of time to find a purchaser , with the seller being compelled to sell on an as-is, where-is basis. Liquidation Value should take into account the costs of getting the assets into saleable condition , as well as those of the disposal activity   Valuation for Forced Sale Liquidation   Where a seller is under compulsion to sell and that, as a consequence, a proper marketing period is not possible and buyers may not be able to undertake adequate due diligence. The price that could be obtained in these circumstances will depend upon the nature of the pressure on the seller and the reasons why proper marketing cannot be undertaken.   Valuation for Impairment Loss   An impairment loss is the amount by which the carrying amount of an asset exceeds its recoverable amount. An impaired asset is a company's asset that has a market price less than the value listed on the company's balance sheet.   For Revaluation of Assets   In Revaluation model, the fair value of plant , machinery and equipment is measured and reliably carried , being its fair value at the date of the revaluation deducting any subsequent accumulated depreciation and impairment losses. Revaluations are usually made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the end of the reporting period.    Valuation for Transfer Pricing Audit Purpose   Transfer pricing refers to the methods for pricing transactions within the  enterprises under common ownership or control. Because of the potential for cross-border controlled transactions to distort taxable income, tax authorities in many countries can adjust intragroup transfer prices that differ from what would have been charged by unrelated enterprises dealing at arm’s length.   Valuation of Capital Goods viz machines and equipments are sought by the Tax Auditors to know the anticipated value of assets for the Transfer Pricing audit purpose.   Valuation for Insurance   Valuation of assets is required for fixing of sum insured under fire and engineering class of business insurance policy . The valuation is generally provided on either of the  two methods: Indemnity basis or Reinstatement value basis as per the conditions of insurance policy.   Valuation for Disposal of Plant and Machines   Asset disposal is the act of selling an asset usually a long term asset that has been depreciated over its useful life like production equipment. When companies dispose their equipments, it gains a salvage value or residual value which can be a gain or a loss per the books.