Business runs better with QuickBooks, the #1 accounting solution for small business. You can quickly do your invoicing, bookkeeping, and billing because QuickBooks gives you the things you need most, all in one place. Easily track sales and expenses, accept payments, scan receipts, and be ready for tax time. Use the new QuickBooks on all your devices, wherever you go throughout your day. It syncs data automatically across your computer, iPad, iPhone, or Android. And of course, all your data is protected. Its comprehensive tool set makes it easy to manage your company's money matters and get a picture of its overall financial standing. The ability to generate almost any type of report is a real time-saver (and probably a life-saver), especially come tax time. Overall, this is a solid product and anyone that's considering starting a small business should include QuickBooks Online as part of their business plan. A.Chandak & Co. provides following QuickBooks Services :-

India's foreign trade policies have been formulated with a view to invite and encourage Foreign Direct Investment in India (FDI). The process of regulation and approval has been substantially liberalized. The Reserve Bank of India has prescribed the administrative and compliance aspects of FDI.

FDI can be divided into two broad categories - Investment under automatic route and investment through prior approval of Government.

Procedure under automatic route
FDI in sectors/activities to the extent permitted under automatic route does not require any prior approval either by the Government or RBI. The investors are only required to notify the Regional office concerned of RBI within 30 days of receipt of inward remittances and file the required documents with that office within 30 days of issue of shares to foreign investors.

Procedure under Government approval 
FDI in activities not covered under the automatic route, requires prior Government approval and are considered by the Foreign Investment Promotion Board (FIPB). Approvals of composite proposals involving foreign investment/foreign technical collaboration are also granted on the recommendations of the FIPB. For detail of project under Automatic Route and Government Route.

FDI Allowances in various sectors

• Agriculture – 100%.
• Plantation Sector – 100%.
• Mining of metal and non-metal ores – 100%.
• Mining – Coal & Lignite – 100%.
• Food Product Retail Trading – 100%.
• Broadcasting Carriage Services (Teleports, DTH, Cable Networks, Mobile TV, HITS) – 100%.
• Broadcasting Content Service - Up-linking of Non-‘News & Current Affairs’ TV Channels/ Down-linking of TV Channels – 100%.
• Airports – Greenfield – 100%.
• Airports – Brownfield – 100%.
• Air Transport Service – Non-Scheduled – 100%.
• Air Transport Service – Helicopter Services/ Seaplane Services – 100%.
• Ground Handling Services – 100%.
• Maintenance and Repair organizations; flying training institutes; and technical training institutions – 100%.
• Construction Development – 100%.
• Industrial Parks – new and existing – 100%.
• Trading – Wholesale – 100%.
• Trading – B2B E-commerce – 100%.
• Duty Free Shops – 100%.
• Railway Infrastructure – 100%.
• Asset Reconstruction Companies – 100%.
• Credit Information Companies – 100%.
• White Label ATM Operations – 100%.
• Non-Banking Finance Companies – 100%.
• Pharma – Greenfield – 100%.
• Petroleum & Natural Gas - Exploration activities of oil and natural gas fields – 100%.
• Petroleum refining by PSUs – 49%.
• Infrastructure Company in the Securities Market – 49%.
• Commodity Exchanges – 49%.
• Insurance – 49%.
• Pension – 49%.
• Power Exchanges – 49%.

Foreign Companies planning to execute specific projects in India can set up temporary project/site offices in India. RBI has now granted general permission to foreign entities to establish Project Offices subject to specified conditions. Such offices cannot undertake or carry on any activity other than the activity relating and incidental to execution of the project. Project Offices may remit outside India the surplus of the project on its completion, general permission for which has been granted by the RBI.

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It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using 'Content here, content here', making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for 'lorem ipsum' will uncover many web sites still in their infancy. Various versions have evolved over the years, sometimes by accident, sometimes on purpose

The Indian indirect taxation system is due for a seminal tax reform with the introduction of a unified Goods and Services Tax (GST) as against the prevailing plethora of taxes (value-added tax (VAT), central sales tax (CST), service tax, customs duty, excise duty, entry tax, etc.).

The new GST regime will open up an array of opportunities for businesses across India as well as those planning to enter the Indian market. On the other hand, GST may also pose various challenges with respect to business planning, budgeting and investment, as it will change many earlier assumptions regarding business and the market and as a whole. The challenge at hand for the business community is to adapt to the transitional tax reforms by understanding the nuances of the new GST regime.

In this evolving indirect tax scenario, we at A.Chandak & Co. plan to assist our clients in bridging the gap over to GST by providing specialised services to mitigate any GST-related tax risk. Our vide range of Services on GST are:-

GST Tax Risk Management Service

GST Tax Risk Management Service is a comprehensive review program designed to assist GST-registered businesses to ascertain their level of GST risks with regards to the overall control of the business operations.

This review would cover the controls surrounding the preparation of the GST returns, output tax and input tax considerations faced by your company. If need be, our review program will assess your current accounting system’s functionalities which may potentially produce inaccurate information or errors in the process of preparing the GST returns. With the results of our assessment, we aim to mitigate the risks faced by your company from getting penalized by the CBEC/GST Authorities due to potential errors in the GST submission and reporting.

GST Retainership Package

As the implementation of GST is at it’s bring  in our country, your business may face many technical and practical issue in complying with the GST requirements. Therefore, it is important for you to understand clearly the GST treatments and implications on your business to avoid any penalties that may be imposed on your company. Our retainer program is a subscription-based retainer program that allows you to post your GST-related questions for the attention of our team of GST experts. As a subscriber to this program, you will also be notified of all the latest updates or changes in the GST laws, regulations, orders and guides that are published by the CBEC or the GST Council.

Technical Opinion on GST Implications

There will be times when your business is faced with uncertainties in identifying the appropriate GST treatments or implications for a particular transaction or arrangement. Such ambiguities may be caused by the complexity of the transaction or it may represent an area that has yet to be extensively covered by the relevant GST laws, regulations, orders or guides published by the CBEC or GST Council. In such cases, we would assist your business in studying the arrangement in detail and providing you with our expert opinion on the issue faced by your business. If required, we will assist your business to make a representation or seek an advance ruling on the matter.

GST Appeal & Dispute Resolutions

If you feel that your business has been wrongly penalised or affected by an adverse decision by the Assessing Officer of GST , we will be able to assist your business in appealing the penalty or against the adverse decision. As authorised representative, we will also be able to assist your business as follows:-

• Apply for advance rulings;
• Appeal your GST dispute at the GST Appeal Tribunal.

Goods And Services Tax (GST) Registration

• Filing of Registration Application
• Receipt of GST Identification Number (GSTIN)

Accounting & GST Filing (Quarterly/ Monthly)

• Online GST Accounting
• GSTR Filing for 3 months for ONE GSTIN
• Includes returns for July-Aug-Sep
• Filing for B2B and B2C invoices

GST Filing - GSTR-4 (Composition Supplier) (Quarterly)

• GST Returns (GSTR-4
• Filing for B2B and B2C invoices
• Reconciliation for all transactions
• GST related Book-Keeping and Accounting

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