Meaning of The Project: Jay Bharat Maruti LTD

Meaning of the Project
The word project has a great important in the development of new thing
idea or technique .The importance of this world becomes specific for
academic purpose. When the study is about management than it
becomes more specifics. Each single alphabet of this world represents
management terms: -
P- It implies ‘Planning”. Planning gives the framework of future .It is a

pre-determined procedure about the future work.
R- It implies “Resources” or the available means using which we will go

head. Resources have their own role in development of any organization.
O- It implies “operation” or the existing or adopted sequential

procedure.
J- It implies “Joint Efforts” which directly indicates towards

coordination or team work.
E- It implies “Effectiveness”. Every aspect of the project should be

effective.
C- It means to “Collect” i.e. to bring together all the relevant thing that
are necessary to make any project effective.
T- It implies “Techniques”. And without a new or developed technique

an organization can not service in this highly changing environment.
JAY BHARAT MARUTI LTD. Page 1

Company Profile
Type Public company
Founded 1987 in Gurgaon , Haryana, India
Neel House, Lado Sarai (Opp.Qutab Minar)

Registered and corporate
New Delhi-110030, India
office
Mr. S.K.ARYA, Managing Director
Mr. Vipin Dang , President

Key people
Mr. A.N. Srivastava, Vice President
Industry Automotive
sheet metal components,
Products welded sub assemblies and exhaust systems for automotive

applications
Turnover Rs.1200 Crores in F/Y 2013-2014
Website www.jbmindia.com
History of the Company

Jay Bharat Maruti Limited set up in 1987 is one of the largest joint ventures of
Maruti Suzuki India Limited. This is a unique combination of modern Press Shop
and Weld Shop capable of supplying components in Just in Sequence (JIS)
meeting customer’s quality and quantity requirements. Manufacturing facilities at
JBML also include die maintenance, dedicated facilities for manufacturing exhaust
systems and in house modern tool room. JBML is rising to meet new challenges
with modern equipment and higher goals of manufacturing and quality control.
JBM group began its engineering activity in 1983 with the establishment of
Gurera LPG gas cylinder limited and entered the auto component industries in
1985 with the inception of SUZUKI AUTO INDIA. JBML is a multi- unit, multi-
product group with extensive and diversified interest in engineering and precision
tooling, dies and facilities spread over different parts of the country. The period
from 1988 to 1995 was a steep rise in the demand of passenger car in India. To
meet this rising demand, JBML had to continually expand its manufacturing
facilities. Because of space constraints a new plant (Plant-2) was set us for the
manufacturing of sheet Metal parts with latest technologies like fully automatic
tandem line from Rovetta of Italy, 5-axis laser cutting machine from Prima of
Italy. This new plant is located approximately 14 kms from Plant-1. Space crated
extra because of this new plant was being utilized by additional business of weld
assemblies like front under body, rear under body for car & exhaust systems for
various models of Maruti. Now this year-2006, company is going to start a new
plant, plant-3 to meet increasing market demand. Driven by a commitment to
customer satisfaction and international standards of quality, JBML has not only
won customer confidence but also industry recognition
Through several awards and accolades viz. “National Productivity Award”’

“Best Performing Vendor Award”, “Quality Trophy” etc.

JBML`s GROUP COMPANIES
 JBM AUTO COMPONENT LTD

 NEEL METAL PRODUCT LIMITED
 JBM INDUSTRIES LIMITED
 JAI BHARAT BREEDS LIMITED
 NEEL INDUTRIES PRIVATE LIMITED
 JAY BHARAT EXHAUST SYSTEM LTD
 THYSSENKRUPP JBM PRIVATE LTD
 NEEL ENGINEERING SOLUTIONS
 JAICO STEEL FASTENERS LTD
 NEEL AUTO PRIVATE LTD.
JBM’S GLOBAL ALLIANCES
 MARUTI SUZUKI INDIA LIMITED.

 SUZUKI MOTORS COMPANY.
 NAGATA AUTOPARTS CO. LTD., JAPAN.
 HAMAMATSU PIPE COMPANY LTD., JAPAN.
 FAUTABA
 YOROZU CORPORATION. JAPAN
JBM’S MAJOR CUSTOMERS

 MARUTI SUZUKI INDIA LIMITED.
 ASHOKA LEYLAND.
 DEFENCE.
 DELPHI.
 EICHER.
 ESCORTS.
 HINDUSTAN MOTORS.
 HONDA SCOOTERS.
 MAHINDRA & MAHINDRA.
 YAMAHA MOTORS INDIA L.T.D.
 TATA MOTORS
 BSTVS
09
PRESENT RANGE OF PRODUCT

MANUFACTURED
1. Exhaust systems for

 Passenger cars in SS / coated steel, and
 Two wheelers in painted condition

2. Underbody parts / assemblies (unpainted) for passenger
cars e.g.,

 Front and rear underbodies
 Fenders
 Aprons
 Cross members
 Floor tunnel
3. Rear axle (painted) for passenger cars.

4. Fuel neck pipe (electroplated)
5. Skin panels (unpainted) for driver cabin of LCV and MCV.

Production Volume(Approximate)
 Products per day : 32,000 assemblies of 203 types
 Made up of about : 2,00,000 pressed parts

20, 00,000 spots
1, 20, 000 hardware
JBM’S MAIN PRODUCTS

 Sheet Metal Stamping.
 Welded Sub Assemblies.
 Chassis and Suspension System.
 Jigs and Fixtures.
 Exhaust System.
JBM manufactures a range of specialized components for front

ranking OEMs. Flawless on quality and reliability these
products have won the confidence of industry leaders
Guiding Principles at JBML

 MISSION
To make JBML a synonym for world class organization excelling in
sheet metal technologies.
 VISION
Expanding leadership in our business through, keeping pace
with market trends and technology.
 HR POLICY
JBML will always keep on striving for the deployment of
competent and efficient employees at all levels to create inculcate and
foster excellent. Working and learning environment; because it believes
in nurturing strength of individuals for developing mutual trust, support
and positive attitude for achieving organization goals to create a world
class manufacturing organization and to remain the market leader in
sheet metal components not only today but for all the tomorrows to
come.
 QUALITY POLICY
The policy of JBML is to achieve total customer satisfaction by
delivering products and providing services that meet or exceed their
exacting requirements and expectations and to do so on time and at most

competitive prices in domestic and export market for our entire product
range.
More than anything else, the driving force at JBML is “Quality”.

Stringent quality control maintained at every stage of the designing and
manufacturing processes translates into zero-defects, international
standard products. Rooted on the policy to achieve total customer
satisfaction by delivering products and services that meet and exceed
their expectations, on time and at competitive cost, JBML has developed
a tradition of quality. Every personnel is positively attuned and
committed to excellence. It is a corporate motto at JBM to accomplish
tasks right the first time, every time. And ongoing improvement on
manufacturing processes and advanced quality planning play a critical
role in ensuring high standards. No wonder, globally JBML became the
first company to achieve ISO/TS-16949-2002 certification. Also,
concern for environment protection has brought JBML ISO 14000
certification.
 CUSTOMER MANAGEMENT
Customer focus is one of the basic values adopted by the company.
Quality policy revolves around the customer satisfaction. There is
emphasis on understanding the unspoken and meeting the implied needs
expectations of the customer also. Customer satisfaction has been

identified as one of the CSF. It is one of the business performance
measures of long term plan and its improvement. Over the years based
on periodic reviews various forms have been established for regular
interaction with customer. Top management apart from personal
meetings of middle managers regularly visits customers. The process of
satisfaction surveys also provides the voice of customer for policy and
strategy making. All customer complaints, customer ends non-
conformances, performance of delivery, result of customer satisfaction
surveys and any other need and expectation of customer is reviewed on
weekly basis. Major customers are Maruti Udyog Limited, Eicher
Motors Ltd. M&M Ltd., and HMSI.
 SUPPLIER MANAGEMENT
The definition of customer in the company is not limited to buyers of
the product. The company treats all its associates as customers in one
way or the other way. Various form set-ups for regular meeting,
understanding, and responding to the suppliers need are maintained.
Major vendors are connected through emails. The information on
vendors and suppliers expectations and needs gathered through these
forms are analyzed and considered by formulating policies and
strategies. Day to day expectations and needs are responded through
the normal communication channel of materials division, purchase

department, supply chain cell as part of MX dept. Vendors and
suppliers are rated and communicated the performances with respect
to quality and delivery. These are reviewed for continual improvements
on weekly basis. Major suppliers for bought out parts are group
companies whereas raw material is arranged from leading Indian steel
manufacturers and through imports.
 FINANACE MANAGEMENT
Financial management system and policies are directed towards
optimum utilization of financial resources. The approach has been to use
the financial resources for minimizing returns to the company, and in
return to the stakeholder. There is clear-cut laid down rules and
regulation for its transparent monitoring and inflows and outflows of
funds. There is transparent pricing system between the company and all
major customers, so that prices are continuously reviewed and
rationalized in view of any KAIZEN/Cost reduction/VA-VE exercise as
the case may be. It is all that because of this transparent price reviewing
system in existence we have passed on around 20% discounts to MUL
since last five years. The other important stakeholders are banks and
Finance Institutions. The financial policies are in line with the
expectations and high level of commitment to them. The company
ensures the timely payment to entire supply chain partners in time. The
company has been rated as P1 by CRISIL (one of the best credit rating
agency in India) various currency movements are monitored and
accordingly risks are hedged by forward coverage. The company has
been constantly working on the various financial strategies for reducing
the cost of funds. Conversion of term loan to lease Transactions, By
negotiating the L.C. charges and bank charges have been brought down
to half of normal rates. No commitment charges are paid to the bank.
Due to these measures, the other income on account of cash discount and
interest earned has been to the tune of 221 Lac in 2004. The company
has been able to manage its working capital in efficient manner. The
company is continuously improving its financial system. Baan ERP
System has been implemented. Decisions on all new investment are
based on IRR at the pre-project analysis stage.
 TECHNOLOGY MANAGEMENT
In line with vision the company is continually upgrading the technology
to world-class level. Visiting collaborators plants, visiting exhibitions
and regular interaction with customer and different forums gather the
information of new technology. The company has one fully automated
tandem press line, fully automatic laser cutting machine etc. Latest IT
technologies are being used like Baan ERP is used for managing
companies business. Integrated communication system is developed.

Knowledge management system has been developed to share
improvements and good practices adopted in the organization.
 SHAREHOLDERS MANAGEMENT
Annual shareholders meeting and board meetings provide useful
information on needs and expectation on them. A shareholders grievance
committee has been formed at director s level. Grievances are reviewed
in board meetings. Shareholders views are captured in one to one
communications, letters also. The company has been giving dividend to
share holders continuously.
 REGULATORY MANAGEMENT
All the laws and regulations applicable to the operations are taken care
off. The company has been consciously and proactively ensuring
compliance to all such applicable laws and regulations. There has never
been any challan from authorities concerned with respect to labor laws
and factories act. The company has been rated "good" during the audits
conducted by central excise department during the year 1999 to 2003.
The sales tax and income tax returns have always been satisfactorily
assessed and no penalty was imposed. Company is actively .

PURCHASE REQUISITION
SOURCES
PAYMENT
VENDOR SELECTION
BILL BOOKING PROCESS OF

PURCHASE & BILL
BOOKING
NEGOTIATION
INVOICE
SETTLEMENT
PURCHASE ORDER
PERFORMA INVOICE
BILL BOOKING
Bill booking is the process in which all the bills of purchase are booked
and an accounting documented number is generated which can be used

for future reference and also to check whether the correct amount is paid
to the Vendor.
As soon as the material enters the company gate, the store people checks
and makes the entry of receiving of the material in their Accounts.
The journal entry passed at this point-
Inventory A/c Dr.
To GR/IR A/c
A ten digit number so generated by this entry is termed as the MIGO

number.
The next step is being undertaken by the excise people. They have to
charge the excise duty on the material received. 12.36% of service tax is
being charged on the material received. The journal entry passed at this
point is-
RG23A PART II - (12%) Dr

RG23A PART II - EC (2%) Dr
RG23A PART II - SHE (1%) Dr
To Cenvat Clearing A/c
The last step includes the booking of the bill by the Finance Department
so that the final payment can be made to the vendor. The journal entry so
generated is-
GR/IR A/c Dr

Cenvat Clearing Dr
To Vendor A/c
The ten digit number so generated by this entry is termed as the MIRO
number.
BILL BOOKING OF
GROUP COMPANIES
ERP is a business tool that management uses to operate the business
day-in and day-out. It is usually comprised of several modules such as a
financial module, a distribution module, or a production module. Each of
these modules shares information coded. ERP that is housed within the
database structures on which the ERP system was helps to break down
barriers between departments within a company.
The T-code used for booking the bills is Z-Miro.

Every employee in the Company is being allotted with an ID to use the
SAP. I used the ID of my supervisor. As soon as I logged in the screen
opened is like this.

The next step I to fill the required details i.e. the Invoice date and the
reference. It should be noted that the layout must be Incoming Invoice
and PO Reference must be Delivery Note. As soon as I clicked on the
icon Calculate Tax the screen so opened is as follows-

In this we can see the Balance amount, Vendor Name, Address, Bank
Account on the right side and the amount of service tax so deducted on
the left side. After matching the amount of the bill with this amount we
book the bill by posting it. As soon as we click on the post icon we will
receive an Accounting Document Number. It is the Miro Number so
generated and can anytime be used for future reference.

Accounting
Document
Number

BILL BOOKING OF NON-
GROUP COMPANIES
The procedure of booking bills of Non Group Companies is
same as that of the Group Companies. The only difference in
this case is that as soon as we click on the Calculate Tax Icon
the screen that appears is as follows-
Then we have to select the Company from here. As soon as we click the
same details appear as that in case of the Group Company and then we
will post the bill.

BILL BOOKING OF
CLEARING & FREIGHT
BILLS IMPORT
The T code used for booking Clearing & Freight bills is FB60 or F-02.
These bills includes expenses for-
 Development
 Clearing Charges Import
 Freight Inward Import
 Capex Purchase Clearing Account
In case of import of material for the development purpose, all the
expenses incurred will be recovered from Maruti and is debited into
DCR A/c. The journal entry passed in this case-
Development Cost Recovery A/c Dr
Service Tax (12%) Dr
S.T - EC (2%) Dr
S.T - SHE (1%) Dr
To Vendor A/c
To TDS A/c (2%)

In case of import of material for other purposes, then the expense
incurred will be debited to Clearing or Freight Charges Import A/c. The
journal entry so passed is-
Clearing/Freight Charges Import A/c Dr

Service Tax A/c Dr
Education Cess Dr
Higher Education Cess Dr
To Vendor A/c
To TDS A/c
NOTE:-
 In case of freight charges no TDS is deducted but if with freight
charges any other charge is there then TDS is deducted on the whole
amount.
 In case of any capital purchase, then it will be debited to Capex
Account.
 This is the first step in the booking of clearing & freight bills.
 The next step is to fill all the required details like Vendors Code,
Reference, invoice date, etc

 If we do not know the Vendor Code then by clicking on the icon this
type of sheet will appear and we can search the Company code by
writing the name of the Company within star(*)

As soon as we will write the amount and click on the calculate tax
option the box will appear on the right side giving details of the vendor
name, address and balance. It should be noted that the balance should
match the amount we have entered.
The next step is to write the code of G/L Account i.e the expense which
is incurred is for development or any other purpose. Also the profit
center, amount, text are to be written.

The next step is to simulate. Then remove the calculate tax icon and
write yourself the amount of tax deducted available in the bill.

Then click on Withholding Tax icon and deduct the amount of TDS.

Then we will click on simulate option to recheck the amount whether it
is correctly debited and credited to the right Account.

At last we will post it and Document number will be generated.

Document
No.

IMPORTS
An Import is any good or service brought in from one country to another
country in a legitimate fashion, typically for use in trade.
An import of a good occurs when there is a change of ownership from a

non-resident to a resident; this does not necessarily imply that the good
in question physically crosses the frontier. However, in specific cases
national accounts impute changes of ownership even though in legal
terms no change of ownership takes place (e.g. cross border financial
leasing, cross border deliveries between affiliates of the same enterprise,
goods crossing the border for significant processing to order or repair).
Also smuggled goods must be included in the import measurement.
Imports of services consist of all services rendered by non-residents to

residents. In national accounts any direct purchases by residents outside
the economic territory of a country are recorded as imports of services;
therefore all expenditure by tourists in the economic territory of another
country are considered as part of the imports of services. Also
international flows of illegal services must be included.

Types of Imports
A
P
E
S
Y
O
R
H
T
M
T
I
P
A
C
W
A
R R
A
E
I
V
L
I
R
E
A
E
P
Y
T S
Y
T
L
S
R
R
E
TI
A
M
L
A
O
G
S
E
C
L
A
S
D

Import procedure for JBML
1. Requisition given by user to purchase department.
 Understand Requirement
 Specification, dimension and material
 Colour , packaging and freight
 Samples and quantities
2. Selection of supplier by CFT
 Identify suitable source
 Obtain quote and lead time
 Check and confirm samples
 Pricing and lead times
PRICING POLICY OF IMPORTS

 Imports are priced on mainly 5 basis. These are as follows-
 CIF : Cost Insurance Freight
 FOB : Free on Board
 EX- WORK : Factory Manufacturing
 DDU : Delivered Duty Unpaid
 DDP : Delivered Duty Paid
 In case of CIF all expenses are beared by the seller itself. Seller only
charges some extra amount for that purpose.
 In case of FOB all expenses like freight or insurance is beared by the
purchaser

3. Approval from Management
 Comparison of terms and conditions of supplier selected by CFT.
 Place purchase order
Purchase order
Purchase order is a document which provides the description, quantities,
and prices, discounts payment terms, date of shipment, other terms &
conditions and identifies a specific seller.
TYPES OF DOCUMENTS
GENERATED
(A) SUPPLIER’S PORT:-

The following documents are generated at supplier’s port:-
(1) BILL OF LADING
A legal document between the shipper of a particular good and the
carrier detailing the type, quantity and destination of the good being
carried. The Bill of Lading also serves as a receipt of shipment when the
good is delivered to the pre determined destination. This document must
accompany the shipped goods, no matter the form of transportation must
be signed by an authorized representative from the carrier, shipper and
receiver.

(2) AIRWAY BILL
If the goods are imported through air then the airway bill is generated
instead of Bill of Lading.
(3) INVOICE
A commercial invoice is identifying the buyer and seller, and clearly
indicate the:
 Date and terms of sale
 Quantity, weight
 Type of packaging
 Complete description of goods
 Unit value and total value
(4) CERTIFICATE OF ORIGIN

A Certificate of Origin (CO) is an important international trade
document attesting that goods in a particular export shipment are wholly
obtained, produced, manufactured or processed in a particular country.
(5) PACKING LIST

A shipping list, packing list, waybill, packing slip, is a shipping
document that accompanies delivery packages, usually inside an
attached shipping pouch or inside the package itself. . It commonly
includes an itemized detail of the package contents and does not include
customer pricing.

(B)BUYER’S PORT:-
The following documents are generated at buyer’s port:-
(1) BILL OF ENTRY

BOE is a document which states that the goods of the stated values and
description in the specified quantity have entered into the company from
abroad.
It is drawn in triplicate. The custom authorities may ask the importer to
supply other documents like invoice, broker’s note and insurance policy
etc in order to verify the correctness of the information supplied in the
BOE form.
BOE should be submitted in three copies - original and duplicate for
customers, triplicate for the importer and the triplicate copy is meant for
bank for making remittances.
Contents of BOE
 Name and Address of Importer
 Name and Address of Exporter
 Name of the port/ dock where goods are to be cleared
 Description of goods
 Value of goods
 Rate and Amount of Import Duty payable
 Other relevant document’s details

HOW CUSTOM DUTY PAID
1) Checking of duty calculation :-
 First of all, we check the custom duty with our calculation sheet &
match the duty amount with BOE generated by custom department.
 As soon as the goods are imported on the decided pricing policy, then
on that value 1% landing cost is charged. The amount so got was
termed as assessable Value.
 Then on this value Basic Custom Duty is charged at whatever
percentage so decided.
 After this on this amount, Counter vally duty (CVD) @ 12%, Custom
education Cess @ 2%, Higher Education Cess @1% is charged.
 The amount so got is the Total Cost
 On this total cost 4% additional duty is charged.
 The final amount is the amount of custom duty so charged

Name METAL ONE
ASJ43INJPP0
INV No. 1
INV Valye 27500 USD
PO Number 4000001632
S.No Inv. Value Exch. Rat Non

. Particulars (FC) Rate Cost Duty e Modvat Modvat
1,672,012.
1 INVOICE VALUE 27500.21 60.80 77
407.
4 INSURANCE 407.00 1.00 00
5 FREIGHT -
1,672,419.
6 TOTAL (1+2+3) 77
16,724.
7 LANDING COST 20
1,689,143.
8 TOTAL (4+5) 97
108,105. 108,105.2 108,105.2
9 BCD @ 6.4 % of 1 21 1 1 -
1,797,249.
10 TOTAL (6+7) 18
215,669. 215,669.9 215,669.9
11 CVD @ 12% OF 8 90 0 12% 0
12 ED. CESS @ 2% OF 9 -
13 SEC & HIGH ED. CESS @ 1% OF 9 -

215,669.
14 TOTAL (9+10+11) 90
323,775.
15 TOTAL DUTY (7+12) 12
6,475. 6,475.5 6,475.5
16 CUSTOM ED. CESS @2% OF 13 50 0 2% 0 -
3,237. 3,237.7 3,237.7
17 CUSTOM SEC & HIGH ED. CESS @ 1% OF 13 75 5 1% 5 -
2,022,632.
18 TOTAL COST (8+11+13) 33
80,905. 80,905.2 80,905.2
19 ADDITIOAL DUTY IMPORTS 4% OF 16 29 9 4% 9
2,103,537. 414,393.6 117,818.4 296,575.1
20 TOAL 63 6 7 9
Total Cost to the 1,790,23
21 company (Rs.) 8.24

2) Payment of custom duty:-
Custom duty is paid online through
www.icegate.gov.in
Process for making online payment

1. First of fill the IEC Code & the location code where material is arrived.
2. Screen showing unpaid duty challan will appear.
3. Select the unpaid challan & click on Pay.
4. Put the Bank detail for making payment.
5. A confirmation no. will be generated.
6. Verify the payment by confirmation no.

7. Print the challan.

Entry in SAP for Custom Duty Payment:-
Commissioner of Custom Dr.
To PNB Outgoing

Custom Duty MIRO
After Online Payment of custom duty, MIRO for custom duty is done in
SAP. Without custom duty MIRO material can’t be received in SAP.
The following entry is generated on custom duty MIRO:-
Custom duty clearing A/C (Non Modvatable) Dr.
CVD clearing A/c (Modvatable) Dr.
To Commissioner of Custom

MIGO of Imported Material:-
After this as soon as the material arrived at Company gate, the store
Department receives the same in SAP. The following journal entry is
passed in SAP-
Inventory A/c Dr
To GR/IR A/c
To Custom Duty Clearing A/C

Material MIRO:-
After MIGO of imported material we do MIRO of material in SAP. The
following entry is generated in SAP at the time of MIRO:-
GR/IR A/C Dr.
To Vendor
At the time of MIRO, Material cost is calculated on the basis on RBI

rate on Bills of entry date.
For example:
Material Cost (USD) 27500.21

BOE Date 23.04.2014
RBI Rate on 23.04.2014 61.1143
Material Cost (INR)
27500.21*61.1143 = Rs.16,80,686

Cost Sheet
S.N

o. PARTICULARS
1 PO NO. 4000001377
Metal One
2
SUPPLIER NAME Corporation
High Tenstile ERW
Tubes
3
4.0*58.2*5230(STKM2
ITEM DESCRIPTION 0A-E-G)
5 INVOICE NO. ASJ3YINJPP01
PRICE BASIS
2 (CIF/FOB/C&F/EXWORKS) CFR Nhava Sheva
3 B.O.E NO. 4099418
4 B.O.E DATE 17.12.2013
DATE OF RECEVING
23.12.2013
5 (MIGO)
6 QUANTITY 3096.16
7 CURRENCY USD
8 RBI RATE (B.O.E. DATE) 61.94999997
9 FC Value 32912.18
10 MATERIAL Cost (INR) INR 2,038,909.55
11 Total DUTY 530548.5
163,753.2
12
NON MODVATABLE DUTY 2
366,795.2
13
MODVATABLE DUTY 8
403.7
14 INSURANCE 0
15 OCEAN/AIR FREIGHT
58,020.0
16 INLAND FREIGHT 0
2,644.0
17 CLEARING CHARGES 0
18 Total Cost of Material (INR) 2,263,730.4

e
m
O
D
N
E
Y
F
tt
L
S
iIM
r
C
c
n
v
d
A
y
a
t
s
o
P
R
T
-f
19
20
Rate Per Unit Rs.
CIF VALUE
Payment Method of Import

material:-
1) ADVANCE PAYMENT
7
5
731.1
2,039,313.2
The following are the mode of payment for imported
2) If we are making advance payment to the seller, then in that case we

have to submit the following documents to the bank because

ultimately the bank will make payment on our behalf to the seller.
These are as follows-
 Cover Letter
 Form A1
 Application of Remittance
 Purchase Order
 Sales Order or Performa Invoice
3) LETTER OF CREDIT
It is letter from bank, guarantying that a buyer’s payment to a seller will
be received on time and for correct amount. In case the buyer is unable
to make payment on the purchase, then the bank will be required to
cover the full or remaining amount of the purchase.
LOC are often used in international transactions to ensure that the
payment will be received. Due to the nature of international dealings
including factors such as distance, differing in laws in each country, and
difficulty in knowing each other party personally, the use of LOC has
become very important. The bank also ensures on behalf of the buyer by
ensuring that the supplier will not be paid until the bank receives the
confirmation that the goods have been shipped.
Types of L/C
1. L/C at sight
2. Usance L/C
PROCEDURE OF ISSUING L/C
I. First of all we request the bank for LC and for this we have to
submit the required documents to the bank. Then the bank
guarantee the seller that if the buyer is unable to pay then, the bank
will pay on due date.

II. Then, the bank advice LC opening exp.
III. After this, the seller sends all the required documents to the bank.
On receiving all the documents the bank issues the arrival notice to
the buyer.
IV. The next step is to submit the A1 form to the bank by the buyer.
V. When we make payment to the seller, then the bank releases our
documents with stamp.
VI. With the help of that document we release our material from the
Custom.
4) POST SHIPMENT PAYMENT

When payment is made after a particular time period after generation of
B/L as per PO payment terms, in this case, we have to submit the
following documents to the bank. These are as follows-
 Invoice/ Airway Bill/ Bill of Lading
 Remittance form
 Form A1
 Triplicate Bill of Entry

Import of Services
 Royalty:
The royalty fee for a technical assistance taken from the service provider
is typically some percent of either the overall or net sales of the
the business and payment is required each week, month and quarter.
Others:-
1. Reimbursement of Travelling Cost & Hotel Exp’s for Engineers
2. Interest & Principal Repayment of Foreign Currency Loan.
 Documentation of Import for Services

The following documents are to be submitted for making payment of
imported services:-
 Cover Letter
 A2
 Application Remittance Form
 Agreement Copy
 15 CA ( Online declaration)
 15 CB

Particulars 2009-10 2010-11 2011-12 2012-13 2013-14
Net Sales 803 1,061 1,068 1,180 1,212

Particulars 2009-10 2010-11 2011-12 2012-13 2013-14
EBIDTA 83.17 106.07 88.45 97.05 108.83

Particulars 2009-10 2010-11 2011-12 2012-13 2013-14
Profit Before Tax 32.82 56.64 28.92 32.00 27.30

Particulars 2009-10 2010-11 2011-12 2012-13 2013-14
Profit After Tax 21.01 38.30 19.63 21.53 16.51

Particulars 2009-10 2010-11 2011-12 2012-13 2013-14
Net Worth 92.08 125.36 141.21 158.94 172.30

Net Sales
1,400
1,180 1,212
1,200
1,061 1,068
1,000
803
800 Net Sales
600
400
200
-
2009-10 2010-11 2011-12 2012-13 2013-14
EBIDTA
120.00
106.07 108.83
100.00 97.05
88.45
83.17
80.00
EBIDTA
60.00
40.00
20.00
-
2009-10 2010-11 2011-12 2012-13 2013-14

Profit Before Tax
60.00 56.64
50.00
40.00
32.82 32.00 Profit Before Tax
30.00 28.92
27.30
20.00
10.00
-
2009-10 2010-11 2011-12 2012-13 2013-14
Profit After Tax

45.00
40.00 38.30
35.00
30.00
25.00 Profit After Tax

21.01 21.53
19.63
20.00
16.51
15.00
10.00
5.00
-
2009-10 2010-11 2011-12 2012-13 2013-14

Net Worth
200.00
180.00
172.30
158.94
160.00
141.21
140.00
125.36
120.00
Net Worth
100.00
92.08
80.00
60.00
40.00
20.00
-
2009-10 2010-11 2011-12 2012-13 2013-14


Meaning of The Project: Jay Bharat Maruti LTD

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Meaning of The Project: Jay Bharat Maruti LTD

Uploaded by

Copyright:

Available Formats

Meaning of the Project

P- It implies ‘Planning”. Planning gives the framework of future .It is a

R- It implies “Resources” or the available means using which we will go

O- It implies “operation” or the existing or adopted sequential

J- It implies “Joint Efforts” which directly indicates towards

E- It implies “Effectiveness”. Every aspect of the project should be

T- It implies “Techniques”. And without a new or developed technique

JAY BHARAT MARUTI LTD. Page 1

Type Public company

Founded 1987 in Gurgaon , Haryana, India

Neel House, Lado Sarai (Opp.Qutab Minar)

Mr. S.K.ARYA, Managing Director

Mr. Vipin Dang , President

sheet metal components,

Products welded sub assemblies and exhaust systems for automotive

Turnover Rs.1200 Crores in F/Y 2013-2014

History of the Company

Through several awards and accolades viz. “National Productivity Award”’

JAY BHARAT MARUTI LTD. Page 3

 JBM AUTO COMPONENT LTD

JBM’S GLOBAL ALLIANCES

 MARUTI SUZUKI INDIA LIMITED.

JBM’S MAJOR CUSTOMERS

PRESENT RANGE OF PRODUCT

JAY BHARAT MARUTI LTD. Page 6

 Two wheelers in painted condition

JAY BHARAT MARUTI LTD. Page 7

3. Rear axle (painted) for passenger cars.

JAY BHARAT MARUTI LTD. Page 8

5. Skin panels (unpainted) for driver cabin of LCV and MCV.

JAY BHARAT MARUTI LTD. Page 9

 Made up of about : 2,00,000 pressed parts

1, 20, 000 hardware

JBM’S MAIN PRODUCTS

JAY BHARAT MARUTI LTD. Page 10

JBM manufactures a range of specialized components for front

Guiding Principles at JBML

JAY BHARAT MARUTI LTD. Page 11

JAY BHARAT MARUTI LTD. Page 12

More than anything else, the driving force at JBML is “Quality”.

JAY BHARAT MARUTI LTD. Page 13

JAY BHARAT MARUTI LTD. Page 14

JAY BHARAT MARUTI LTD. Page 16

JAY BHARAT MARUTI LTD. Page 17

BILL BOOKING PROCESS OF

JAY BHARAT MARUTI LTD. Page 18

A ten digit number so generated by this entry is termed as the MIGO

RG23A PART II - (12%) Dr

JAY BHARAT MARUTI LTD. Page 19

The T-code used for booking the bills is Z-Miro.

JAY BHARAT MARUTI LTD. Page 20

JAY BHARAT MARUTI LTD. Page 22

JAY BHARAT MARUTI LTD. Page 23

JAY BHARAT MARUTI LTD. Page 24

JAY BHARAT MARUTI LTD. Page 25

JAY BHARAT MARUTI LTD. Page 26

Clearing/Freight Charges Import A/c Dr

JAY BHARAT MARUTI LTD. Page 27

JAY BHARAT MARUTI LTD. Page 28

JAY BHARAT MARUTI LTD. Page 29

JAY BHARAT MARUTI LTD. Page 30

JAY BHARAT MARUTI LTD. Page 31

JAY BHARAT MARUTI LTD. Page 32