GSV Associates

We carry out cost effective audits for small and medium sized entities and have over the years acquired an expertise in effectively executing special assignments. Our audit and assurance services include:

• Statutory Audits under Companies Act, 1956
• Tax audit under Income-tax Act, 1961
• Special Audits
• Regulatory Approvals
• Management/Internal/Operational/System's Audits
• Special / Investigation assignments
• ERP implementation
• Management Information System (MIS) Development
• Review and Establishment of Costing System
• Secretarial Services
• Appointed as Special Auditors by RBI, SEBI and Income Tax Department for carrying out special audits.
• Approval and Audit of transactions prior to payment for various government concerns.,

1. Internal Audit Services / Concurrent Audit Services :

To ensure strong internal control systems to minimize the risk of accidental or deliberate errors and omissions in order to safeguarding of assets, have adequate control areas on key area and ensure compliance with internal operating policies and guidelines. The following are the important factors in Internal Audits:-

a. Compliance with management controls
b. System and process improvements
c. Financial impropriety and fraud audits
d. Due diligence for acquisitions and investments

2. Management Audit Services:

To maximize management performance, productivity and efficiency for organization's success.

3. Operations and Efficiency Audit Services:

To ensure that resources of the organization are optimized to deliver maximum possible value by focus on streamlining processes, minimizing waste and objective measurement.

4. Special Investigative Audit Services:

Unearthing fraud and financial impropriety and for taking remedial action.

5. Due Diligence Review:

Financial, legal and accounting reviews in case of mergers, acquisitions and investments that requires a sound understanding of local laws, regulations and accounting practices to vet all critical issues in detail.

6. Costing and Accounting System Design and Review:

Accurately measuring and managing cost and accounting data is critical for management decision making and reporting. Our assistance in developing and installing these systems help management their decision making process.

7. Compilation of final accounts as per accounting standards of US GAAP and IFRS:

We assist clients in compilation of final accounts as per US GAAP standards and IFRS which help companies to compete effectively and efficiently in global market.

We prefer to take a proactive vs. reactive approach to tax services. As Indian economy is transforming into a developed economy, we, by keeping current on new tax laws and legislation, are in a position to identify key tax planning opportunities that minimize both your current and future tax liabilities. We provide our individual and business clients with the taxation expertise and knowledge that they desire throughout the year. Tax services offered include, but are not limited to:-

• Tax Planning for Individuals and Corporates
• Return preparation for Individuals, Corporates
• Tax effects of buying, selling and start up a business
• Advisory Services for Special Economic Zone (SEZ)
• Advisory Services for Non-Residents under Foreign Exchange Management Act (FEMA)

1. Advising on

• Income Tax Planning of Corporates.
• TDS/TCS/Tax withholding responsibilities
• Statutory returns E-retruns in respect of TDS/with holding
  • Monthly
  • Quarterly
  • Annual returns
• Filing Annual Tax Returns of Individuals, Corporates and Others
• Issuance of Chartered Accountant certificates u/s 195 required for the Overseas Remittances. [Form 15CB Certification]

• Transfer Pricing Study and related processes including
  • Select the appropriate method of transfer pricing and identify the parties who have been tested with the particular method and conducting a survey.
  • Prepare a consolidated report on the basis of the analysis and document it appropriately.

Our early venture into the area of WTO and its set of Agreements helped GSV enter the world of International Practice. GSV has provided other advisory services as well for companies/groups having presence outside India.

GSV has handled the following International assignments since the year 2000:

1. Antidumping and Countervailing investigations by the South African Board of Tariffs and Trade against Indian Footwear Exporters – Represented the Indian Footwear Industry before the South African Board.
2. Countervailing Investigations by European Commission against a PET Film manufacturer in India – Represented the Indian exporter before the EC in Brussels
3. Anti dumping and Countervailing Investigations by Korean and Brazilian Anti dumping authority on PET film exporters in India
4. Antidumping Sunset Review by Indian Antidumping Authority on Vitrified tile exporter in UAE – Fieldwork in UAE and legal representation before Indian authorities.
   Due Diligence audit for takeover of companies in Oman and Qatar.
5. Advisory services on Share Disinvestment and Shareholders Agreements in Thailand.
6. Conference in South Korea to exchange information on impact of Derivative scam in India and Korea.
7. Due Diligence for takeover of mines in Indonesia by an Indian company – Field work in Indonesia.

• The firm was retained by an Export Promotion Council and individual exporters to handle Antidumping Investigations launched by the Government of South Africa on Indian leather footwear exporters.
• Prepared a Paper for the Council for Leather Exports, on deficiencies in the legal agreement of the WTO, highlighting on improvements required on the Antidumping Agreement, to enable Ministry of Commerce take up these issues during negotiations.
• Defended the case of Indian exporters on an individual basis as well as for the Indian Leather Industry as a whole.
• Prepared background papers for the Commerce Ministry, Government of India to initiate Consultative process with the Government of South Africa and thereafter handled the investigation successfully, resulting in termination of investigation.
• The firm has been retained to advise a leading Corporate on the Midterm Review of Antidumping and Countervailing duties by the European Union.
• The firm has been retained by a leading Corporate to attest Periodical Statements to the EU to confirm compliance with Price Undertaking Norms.
• The firm has been retained by Domestic Corporates to advise them on launching Antidumping investigation against imports into India.
• Prepared a detailed Report for the Ministry of Commerce on the Tariff and Non-Tariff Barriers to Indian Leather Exporters, for formulating the Government of India's responses during the Doha Round of Negotiations.

• Central Statutory Auditors of Central Bank of India, Indian Bank and Corporation Bank.
• Statutory Branch Audit of Indian Bank, Canara Bank, Syndicate Bank
• Concurrent Audits of Bank of Baraoda, Dena Bank, Bank of Maharashtra, Indian Bank.
• The Firm has been retained to conduct Statutory, Concurrent and Special audits of a number of Banking companies in India.

• Prepared a document on Issues affecting Indian Agriculture in the context of Global Agricultural Subsidy with Special emphasis on the Economics of the Fertiliser Industry in India: The document was prepared at the initiative of a leading Fertiliser Corporate and was instrumental in shaping the Fertilizer subsidy policy of the Government of India over the past few years.
• Co-authored a White Paper on the implications of GATS on the Indian Accounting Sector which was released by the Honourable Minister for Information and Broadcasting.
• Prepared a Background Paper on the effects of import tariffs on the PET film Industry in India.
• Prepared a Handbook on Value Added Tax-A new system of Taxation

Out of our experience and qualification in the relevant filed we are familiar with the following:-

• Valuation of Shares
• Valuation of Business
• Valuation of Goodwill
• Valuation of Intangible Assets

• Formation of Indian and Offshore Companies
• Advising on various matters under the Companies Act, 1956 including appearance before the Company Law Board.
• Assisting in Winding-up of companies/striking off the name from the Registrar of Companies under the Act.
• Mergers and Acquisitions
• Sales, Divestitures and Demergers
• Valuations
• Structured Finance
• Due Diligence (Transaction Evaluation)
• Structuring Transactions
• Assisting In negotiations and managing transactions
• Restructuring & re-organization
• India Entry Services
• Regulatory compliance Services
• Incorporation of Companies
• Secretarial Services - back office work or compliance with all company law requirements like maintenance of statutory records, minute books & filing of required documents with the Registrar of Companies (ROC) etc .
• Advisory Services regarding all company law matters & Merger and Amalgamation of Companies
• Representation before Registrar of Companies and Company Law Board.
• FEMA & RBI Advisory services regarding foreign exchange regulations and matters with the Reserve Bank of India
• Mergers and Acquisitions : We provide consultancy on all company law issues in respect of mergers and acquisitions of companies and also carry out the entire range of services / activities involved in carrying out complete merger / acquisitions exercise.

Consultancy encompasses advice and suggestions on various aspects of business. These business advisory services may be for start-ups or ready to undertake some expansion or diversification. We can undertake, general planning, capital and tax structure planning with the aim of maximizing ROI, minimizing risk and achieving an optimal cost benefit ratio. Our business advisory services also include profile build-up, getting projects appraised and approved by financial institutions and government and advising on the procurement of long / short term debt components for project. Also includes

• Business Assurance Service
• Management Information System
• Budgetary control system
• Financial Planning
• Cost studies
• Project Financing & Profitability Analysis
• Techno Economic Feasibility Studies
• Organization & method studies
• Procurement Services
• Business reorganization and restructuring

Our exhaustive arrays of services include dealing in various financial products and include Project Feasibility study; project Financing, Project implementation by arranging finance for Corporate, Businessmen, Traders and Exporters etc.

The various financial products are as under:

• Unsecured Corporate Loans
• Loan Syndication for Bigger Projects/Expansion Plan etc.
• Working Capital, Term Loans from Banks
• Takeover by Banks/Financial Institution
• Packing Credit Loan, Letter of Credit for Importer & Exporter
• Bank Guarantee
• Clean overdraft (OD)
• Loan against Property
• Foreign Direct Investment (FDI)
• Foreign Private Equity and Venture Capital
• Preparation of Project Reports, Formation of Company and Allied Services
• Non Fund Based Products Facilities
• Standby letter of credit
• Funding for Real estate Business

Traditionally, Business Process Outsourcing has been a management tool available only to large companies. These companies saved millions in monitory terms as well as much in non-monitory terms by outsourcing their LOW OR NO VALUE ADDITION ACTIVITIES, such as Accounting, Finance and Human Resources to specialized service providers.

We provide business process outsourcing, consulting and accounting system implementation to small, emerging growth and concept-stage businesses. We pride ourselves on providing practical solutions for back-office needs. Our Associates include experienced CAs, ICWAs, CSs, MBAs, Advocates, and Accountants

What Can Be Outsourced

• CFO/Controller Consulting
• Financial Statement Preparation
• Payroll Processing
• Raising of Equity Capital
• Raising or Renegotiation of Bank Debt
• Tax Strategy and Minimization
• Financial Modeling
• Business Planning
• Preparation of Audit Work papers for Year-End Audit
• Preparation of Monthly Financial Statements
• Internal Control Reviews
• Statutory Compliance under various Acts as Applicable
• Implementation of Accounting Software
• Due Diligence for Mergers and Acquisitions
• Excise, Sales Tax and Service Tax Compliance and Audits
• Employee Benefits and Compensation Strategies

How Outsourcing Different

• Work is to be performed by experienced professionals
• Cost is known and fixed
• A long-term commitment is not required
• Expectations and deadlines are mutually agreed and consistently met
• Experts are always available for special projects
• A policy and procedure manual is prepared and kept up to date
• A logical, orderly, and neat filing system is established and maintained
• If full-time staff is eventually required, we can help with recruiting and training
• After our assignment is completed, we are always available for special projects

We understand that the present scenario of financial world facing problem in identifying the right investment in worthy business. In the modern era, there are many mergers and acquisitions happening among the business enterprises and the economy also gets its impact. We have developed ourselves with the necessary skill to support our clients in due diligence audit. It is well known that our firm is having 18 years of experience in relevant fields. The knowledge base in our firm is capable of handling the following types of due diligence audits.

• Financial Due Diligence
• Taxation Due Diligence
• Business Due Diligence

We understand that the present scenario of business environment seeks better cost management to hedge the keen competition in the Industry irrespective of the nature of Industry. Those who manage their cost better will be flagging the industry and lead the same. We have developed our team which will study the organization to identify the means to plug out the unnecessary cost incurrence to make the enterprise towards peak in the Industry.

According to us costing is an Art. We will not end up with traditional formulas etc.,. Cost management must be a continuing process and there is no end for the analysis as the industry grows there are ways to control cost effectively.

Our Costing Solutions concerning the following:

• Cost Reduction without compromising Quality
• Alternative Revenue or means to get extra flow of cash
• Tax benefits
• Business Growth in Future