SERVICES

Start-up Services


  • Suggest and finalize a suitable structure for every business (sole-trader, partnership, LLP, company).
  • A business plan which would include converting the idea and vision of the entrepreneur into financials.
  • Cash flow projections, budgets and trading forecasts.
  • Compliance of legal licenses and registration. These include applying for PAN, TAN, VAT registration and also registration under service tax and excise.
  • Setting up of accounting system and processes. It starts by defining the overall accounting framework for designing reports that are essential for conducting business.
  • Setting up adequate internal checks and control system to prevent any leakages.
  • Assessing financial requirements and representing before the bank and other financial institutions.
  • Funding

Audit & Assurance:

With globalization, accounting rules, regulations and audit standards are changing very frequently. Our audit procedures are designed to ensure compliance with relevant statutory laws and specialization. Our approach focuses on ensuring that internal controls are adequate and disclosure requirements of the accounting standards and applicable regulations are met with. Audits can be expected to detect flaws in the system, but due to constraints, an audit can only manage to provide reasonable assurance that the statements in the audit report are free from error—a concept influenced by both qualitative and quantitative factors. Auditing is not just a vital part of accounting but also a legal requirement. Our trained team of experts effectively analyses and improves the control and governance of a system, complying with all your auditing needs. List of services we provide under this section are:



Audit under the provisions of the Companies Act, Insurance Act, Banking Regulation Act, Co-operative Societies Act of banks both nationalized as well as co-operative, public as well as private limited companies, partnership firms and proprietary concerns.

Audit under the provisions of the Income-Tax Act for compliance with the provisions of the act and allow ability or otherwise of deductions/ exemptions in various cases like exporters, new industrial undertakings and charitable institutions.

Carried out stock audit of borrowers of various branches of nationalized banks for ascertaining the value of stock and book debts, drawing power, end use of fund and primary and secondary security.

Performed concurrent audit of branches of various nationalized banks and co-operative banks for verifying the compliance with the directions of RBI and head office.

-Involves verification of internal control system, checking of data generated in ERP, vouching of purchases, sales, import, export, banks, cash, branch transactions, bank reconciliation, excise records, VAT/GST records, production planning, stock records, physical verification of stock, ledger scrutiny, human resource records, etc. of companies.

  • Checking and verification of Goods and Servicestax audit file prepared by tax assistant along with profile of the clients.
  • Client visit at the time of audit and discussion of the same with audit parties. Solutions of audit issues, justification for para arising during the finalization of audit report and modus operandi issues arising during the audit.

Certification:

Certificates for availing disbursements of term loans from banks/financial institutions, certifying creation of assets and details of sources of funds, export and inland turnover for licence purposes, cost of production of particular product and various certificates in connection with raising of public money.


Taxation:

  1. Direct taxation:
  2. Advising clients on income-tax, wealth-tax, gift tax and interest tax matters. Scope of work includes preparation and filing of returns, appearing before and communicating with assessing officers and senior officers like Deputy Commissioners, Additional Commissioners and Commissioners in connection with assessment proceedings, recovery of tax arrears and exemption to charitable institutions, inquiry and survey of the premises of the clients by the tax authorities.
  3. Appearing before appellate authorities in connection with disputes between clients and the tax department and liaison and follow up with senior counsels for complicated tax matters.
  4. Clients for taxation work include public and private limited companies, co- operative banks, co-operative societies, partnership firms, businessmen, professionals, salaried persons and public charitable trusts.
  5. Advising the clients in respect of international taxation issues like characterization of income, investment options, type of organization, vetting of agreements and interpretation of DTAA.




VAT and TDS:

  • Advising, preparation and filing of application for obtaining Tax Identification Number (TIN) under Gujarat Value Added Tax Act, 2003 and Central Sales Tax registration under the Central Sales Tax Act, 1956.
  • Computation of taxes, preparing VAT returns (monthly, quarterly and yearly) and submission of returns to the VAT authorities.
  • Assisting in obtaining various forms, declarations, etc. under the VAT Act and CST Act.
  • Audit under the VAT Act
  • Representation before the VAT authorities in connection assessment, appeals, etc.
  • Representation before the VAT authorities for classification of goods for determination of tax liability.
  • Advising, preparation and filing of application for obtaining Tax Deduction Account Number (TAN).
  • TDS quarterly return filings in 24Q, 26Q, 27EQ of various clients.
  • Details of experience are enclosed as Annexure “5”.

Service Tax, Excise and Customs:

Conceptualization

  • Analyzing business of client
  • Deciding most appropriate categories of services for the client
  • Preparation of Transaction Flow Diagram and comparison of the same with the present accounting system of the client.

Goods and Services Tax:

Implementation

  • Smooth transition to GST regime
  • Advising the clients for post GST implementation
  • GST Compliance

Real Estate Regulatory Authority:

  • Registration
  • Advising the clients
  • Compliance work

Setting up a business in India

We ensure that the development of your business is adequately resourced. Irrespective of the kind of proprietorship we help develop guidelines on ownership, access to capital, and distribution of profits that balance contemporary commercial needs and professional standards to allow multi-disciplinary practices. We help you continue to meet professional standards and adhere to legislative requirements (like attestation) under new market conditions such as changed ownership/control of firms and entry into new markets.

Setting up a business in Overseas

Today, both government and industry accept the mandatory nature of chartered accountants’ services for the national economy. As Chartered Accountants, BRS & Co. helps you do business overseas by developing the strong international links required to compete internationally and to operate as part of a consortium locally. It’s also our responsibility to identify the threats and opportunities that may occur as large firms become global service providers. We help in the collection of information, promotion and facilitating financial collaborations, and to reconcile different national regulatory issues.

Litigation:

BRS & Co. delivers services that safeguard the legal and financial interests of your organization. We provide services to help the organizations spot, assess, manage, and respond to legal and financial risks and unforeseen incidents that could undermine their position and jeopardize their critical assets, reputation, and financial strength.

Outsourcing services:

  • Auditing
  • Taxation
  • Consultancy
  • financial management services

Advisory services:

  • Corporate Laws
  • Mergers & Acquisition
  • Valuation
  • FEMA

White-space identification:

In the current diversifying economic scenario, several global companies are interested in investing in India, but the lack of right guidance and expertise to set up a joint venture is hampering the growth of Foreign Direct Investment. Under our recent milestone, we help foreign investors who are unable to incorporate their business ventures due to complex processes and lack of proper guidelines through licensing, checklists and industrial policies.
Our experienced and qualified team is equipped to provide optimum client satisfaction to a variety of clients in different industries across the globe.
Our clientele covers almost all industries, few of which are mentioned for reference:

  1. Automobile
  2. Banking
  3. Insurance
  4. Telecom
  5. Manufacturing
  6. NGO
  7. Clubs & Restaurants
  8. Builders / Developers
  9. IT