Internal Trade Test - 27

OEM (pronounced as separate letters) is short for original equipment manufacturer, which is a somewhat misleading term used to describe acompany that has a special relationship with computer and IT producers. OEMs are manufacturers who resell another company's product under their own name and branding.

Some of the reasons why companies wish to become multinationals are:

• To secure cheaper premises and labour: Cost of land and labour will be cheaper in developing countries.
• To increase market share: Companies may find they are at saturation point in the domestic market and need a new outlet. They may start by exporting to other countries but eventually they may start production overseas.

Hence, the push factor influencing the internationalization of a company is low-cost labour in other countries.

Integrated Goods and Services Tax (IGST) is levied on inter-state supplies of goods and services in India.

General Stores deal in different types of goods which are needed by local residents in their day-to-day life such as stationery items, household items, etc. They come under the category of "Fixed shop small retailers".

Vending Machines provides the facility of 24x7 shopping at all major locations. They are coin operated machines which are used in selling products such as milk, soft drinks, snacks, etc. They can easily be self operated by customer any time.

Departmental store is a retail business which acts as a universal supplier of a wide variety of products. It offers a wide range of consumer goods in different product categories known as "departments" like clothing, furniture, home appliances, toys, cosmetics, etc.

Certain essential items, such as fresh fruits and vegetables, are exempted from GST.

Central Board of Indirect Taxes and Customs (CBIC) is the primary authority responsible for administering and enforcing GST laws in India.

Indian Malls does not provide 24x7 Shopping. They are open for the customers for reasonable hours during the day. 

When goods are imported for the purpose of export is called as Entrepot. An Entrepot or transshipment port is a port, city, or trading port where merchandise may be imported, stored or traded, usually to be exported again.