Our Accounts Services
VBX INNOVATIONS
GST SERVICES
GST Registration
GSTIN is the unique identification number which is issued to the GST taxpayer. By the GSTIN number each taxpayer can easily be identified. GSTIN can be obtained after applying for New GST Registration/ Online GST Registration. It is mentioned under GST Certificate.
GST Return
A taxpayer is liable to report all transactions related to the income of the business based on which the authorities will determine the amount of tax to be paid by the business.
GST Refund
GST is all about bringing a smooth flow of funds and compliances for ease of doing business in India. To facilitate such a steady stream, the Government must provide for a hassle-free refund processing system. The prevailing tax structure is cumbersome, and it takes months and seldom years to get refunds from the Government
GST Audit
GST Audit is conducted to verify whether the sales, output tax paid, input tax refund claimed, and ITC availed stated in his annual report are true and fair or not.
GST Cancellation
The registration granted under GST can be cancelled for specified reasons. The cancellation can either be initiated by the department on their own motion or the registered person can apply for cancellation of their registration. In case of death of registered person, the legal heirs can apply for cancellation.
INCOME TAX COMPLIANCE SERVICES
Corporate Tax
A corporate tax is a levy on a company’s profit by the government. The money collected in the form of corporate taxes is used as a country’s source of income.
Direct & Indirect Tax
Our tax structure is divided into two parts Direct Tax and Indirect Tax. It is very crucial to understand the overview of Direct and Indirect Tax. While direct taxes are levied on incomes earned by individuals and corporate entities, the burden to pay taxes is on the taxpayers themselves.
Income Tax Return Filings
Income tax Return is a form in which a person files information on his income earned during a financial year and its tax thereon to the Income Tax Department.
TDS and TCS Return Filings
The payer deducts tax, and the same is directly remitted to the Government by the payer on behalf of the payee. The concept of TDS was introduced to combat and reduce tax evasion.
AUDIT AND ASSURANCE SERVICES
Audit and Assurance
A financial audit is an unbiased examination and evaluation of the financial statements of an organization to ensure that the financial records represent a true and fair view of the business transactions they claim to perform.
Tax Audit
If you are a taxpayer and turnover of your business or total receipts from any profession exceeds limits as prescribed by The Income Tax Act, in any previous year then, you are obligated to get your books of accounts audited by an Independent Chartered Accountant.
Statutory Audit
Statutory audit is required to assess whether the company complies with the applicable laws, rules and regulations and standards and whether the financial statements reflect a true and fair view of the financial position of the company.
Internal Audit
Internal Audit is an independent function established within an organization to examine and evaluate its activities as a service to the organization. It serves the organization to accomplish objectives by bringing a systematic, disciplined and consistent approach to assess and strengthen the effectiveness of risk management, control and governance process.
Stock Audit
A stock audit is a statutory process that every company/business should get performed at least once in a particular financial year. As far as the stock audit procedure is concerned, the stock audit process in India involves physical counting of different inventories and presenting the premises and verifying the same with computed inventory maintained by the company.
Fixed Assets Audit
Fixed Assets are defined as the assets held to be used to produce or providing goods or services and are not held for sale in the ordinary course of business which is expected to be held in use for more than one accounting period.
BOOKKEEPING
Single & Double Bookkeeping
The single-entry bookkeeping system is used for businesses that have minimal or uncomplicated transactions. Double-entry bookkeeping systems are used for businesses that routinely have more complex transactions. In Bookkeeping we provide Receipts, Payment, Sell/Purchase, Cashbook Maintain and Bank, Debit Note & Credit Note Register, Manufacturing Register, Stock Register, General Register, Balanced Sheet, Profit/Loss, Account Settle, Trail Balance, E-way Bill and Invoice Services. Companies that collect income through accounts receivable and receive merchandise and inventory on credit are better-suited for this method.
ACCOUNTING AND PAYROLL MANAGEMENT
Accounting
We undertake accounting services to meet the requirements of small companies’ requirements and multiple overseas organizations having subsidiaries in India. These entities need the data on a real-time basis. To meet such requirements, proper accounting plays an important role.
Payroll Management
Employers are required to maintain the data of the number of employees, their salaries, tax deduction on their wages, amount of tax made to the government and number of leaves taken in a month. It is a cumbersome task that demands attention and constant effort.