#CFO Services in India

[nbfc-advisory]

7 Topmost Advantages of Hiring a VCFO at your NBFC and Scaling it

Looking for a virtual CFO but need clarification about whether you should hire them. Here are 7 topmost advantages of hiring a VCFO at your fintech or NBFC that you need to know.

Learn More:

[enterslices]

Managing financial operations effectively is challenging, especially for growing businesses. From financial reporting to strategic planning, the complexities can overwhelm even seasoned managers. This is where expert CFO services come into play. Our remote CFO services offer a tailored approach to meet your business needs, providing top-notch financial oversight, strategic advice, and reporting without the overhead of a full-time CFO. Trust us to streamline your financial management and support your business’s growth.

[adcabangalore]

CFO Services in Bangalore: Your Strategic Financial Partner

Unlock Your Business Potential with Expert CFO Services

In today's competitive landscape, Indian businesses, particularly those based in dynamic cities like Bangalore, face increasing pressure to optimize financial performance, navigate complex regulations, and drive sustainable growth. This is where our CFO services in India come in.

Why Outsource CFO Services in Bangalore?

By partnering with us, you gain access to seasoned financial experts who can provide strategic guidance, operational efficiency, and risk mitigation. Our CFO services in Bangalore are tailored to meet the unique needs of businesses at various stages of growth.

Our CFO Services Include:

Tax Planning and Optimization: Minimize your tax liabilities through effective strategies and compliance.

Business Funding and Compliance: Secure the necessary capital and ensure adherence to regulatory requirements.

Business Valuation: Accurately assess your company's worth for investment, mergers, or acquisitions.

Bank Finance Documentation and Coordination: Streamline the loan process and secure optimal financing terms.

ESOP Structuring and Employee Benefits: Attract and retain top talent through competitive compensation packages.

Benefits of Our CFO Services

Save Time and Money: Focus on core business operations while we handle complex financial matters.

Maintain Business Focus: Delegate financial responsibilities to experts and drive growth initiatives.

Effective Cash Flow Management: Optimize cash flow to improve operational efficiency and profitability.

Strategic Succession and Exit Planning: Build a robust financial foundation for long-term success.

Data-Driven Decision Making: Leverage accurate financial insights to make informed business choices.

Accelerated Business Growth: Unlock growth opportunities through strategic financial planning.

CFO Roles Tailored to Your Business Needs

Early Start-Up Phase: Establish solid financial foundations, secure funding, and optimize resource allocation.

Growth Phase: Scale operations efficiently, manage cash flow, and prepare for future growth initiatives.

Turnaround Phase: Restructure finances, improve profitability, and position your business for recovery.

Choose the Right CFO for Your Business

Virtual CFO: Ongoing strategic partnership for long-term financial guidance.

Interim CFO: Temporary CFO to bridge gaps during leadership transitions.

Special Purpose CFO: Expert support for specific financial projects or challenges.

Full-Time CFO Recruitment: Access our network to find the perfect CFO for your team.

Partner with Us for Financial Success

Our team of experienced CFOs in Bangalore is committed to delivering exceptional service and driving your business forward. Contact us today to discuss your specific needs and explore how our CFO services can help you achieve your goals.

ADCA is your trusted partner for CFO services in Bangalore and beyond. Let us help you unlock your business potential.

[fairgood]

Based in Kanpur head office in Jabalpur, India, CFO Services conveniently offers employees the expertise of a Chief Financial Officer. These services, which are often outsourced or provided remotely, are designed to assist companies in managing budgets and services without the commitment of hiring a full-time employee Through remote connectivity or part thereof on a smaller scale, companies can develop higher levels of financial literacy to drive growth, manage risk and optimize resources -is useful for larger companies that want to improve their financial management with a permanent CFO remain

[felixadvisory]

CFO Advisory Services in India | Virtual CFO for Startups | Felix Advisory

Felix Advisory provides expert CFO advisory services tailored for startups and businesses in India. Our comprehensive CFO services include strategic financial planning, budgeting, and virtual CFO solutions to help your business thrive. Specializing in CFO services for startups in India, our team ensures efficient financial management and supports your growth with expert advice. Trust Felix Advisory for reliable CFO advisory and services designed to meet the unique needs of your business. Enhance your financial operations and achieve your business goals with our professional CFO solutions.

[cfo-services]

Best CFO Company in India StartupFino

StartupFino offers expert Virtual CFO services in India, provided by a leading Virtual CFO Company. Our team operates remotely, leveraging digital tools to deliver top-notch financial management and advice. Choose StartupFino for the best Virtual CFO services and ensure your company's financial success.

[cfobridge]

Decoding Financial Complexity: Your Guide to CFO Consulting with CFO Bridge

Navigating financial complexities requires expert guidance, and CFO Bridge is here to serve as your trusted advisor. Our comprehensive CFO consulting services offer businesses in Bangalore invaluable insights into their financial landscape.

At CFO Bridge, we specialize in deciphering financial complexities and providing strategic solutions tailored to your unique needs. From budgeting and forecasting to risk management and strategic planning, our team of seasoned professionals is dedicated to helping you achieve your financial goals.

With our CFO services in Bangalore, you gain access to personalized consulting that goes beyond mere numbers. We work closely with you to understand your challenges and opportunities, offering actionable recommendations that drive growth and profitability.

Partner with CFO Bridge for unparalleled expertise in decoding financial complexity. Let us be your guide to success in the intricate world of finance.

CFO Bridge Pvt. Ltd

AWFIS, 10th Floor, R-city Mall, LBS Marg,

Ghatkopar West, Mumbai, 400086

Contact us: +91 8899117255

vidya@cfobridge.com

[seosaniya]

The Lifeline of Your Business: The Essence of Working Capital Management

In the vibrant economic landscape of India, where businesses of all sizes strive to carve their niche, the significance of managing working capital cannot be overstated. It's the lifeline that keeps your business operations running smoothly, ensuring that your enterprise not only survives but thrives. At the core of this crucial aspect of business management is the indispensable expertise of a CFO.

However, not every business can afford the luxury of a full-time CFO. This is where the concept of virtual CFO services in India comes into play, offering a beacon of hope for businesses in need of financial guidance. Shared CFO services and virtual CFO solutions provide the strategic oversight necessary to navigate the complexities of working capital management, tailored to the unique demands of your business.

Particularly in bustling cities like Hyderabad, the demand for virtual CFO services is on the rise. Businesses are recognizing the value of having access to top-tier financial expertise without the overhead associated with a full-time executive. Virtual CFO services in Hyderabad are not just a service; they're a partnership that ensures your business's financial health is monitored, analyzed, and optimized for success.

Managing working capital is about understanding the delicate balance between assets and liabilities. It's about making informed decisions that ensure your business has the agility to respond to opportunities and challenges alike. With the support of virtual CFO services, your business gains the advantage of financial expertise combined with deep local insights, ensuring that every decision is made with a comprehensive understanding of both the numbers and the market dynamics.

Ready to empower your business with expert working capital management? Discover how our Virtual CFO Services in Hyderabad, can transform your financial strategy. Let's build a resilient financial foundation for your business together.

[thecakavitagandhi]

CA Kavita Gandhi

Experience growth and financial excellence with CA Kavita Gandhi, a premier firm specializing in CFO services. Our expert team brings strategic insights to the table, crafting financial visions that align with your business objectives. From optimizing financial health through resource allocation to data-driven decision making, we empower businesses to navigate growth challenges with confidence. Collaborative by nature, we work closely with your leadership to tailor solutions to your unique needs. With our prowess in investor relations, we ensure your business attracts the right capital for expansion. Choose CA Kavita Gandhi for CFO services that redefine financial strategies and elevate business success.

Visit Our Website

[thinksynq2021]

Top cfo services in chennai - thinksynq

Thinksynq offers top CFO services in Chennai, providing expert financial guidance and strategic planning to optimize your business's growth and profitability.

[srvassociates01]

[nbfc-advisory]

The CFO's Role at an NBFC

[suantach]

Spacebucks Advisory isn’t your typical accounting firm but a KPO – Outsourcing company that has flipped the traditional model on its head that caters SMEs, fast growing organizations and corporate houses in Outsourced Accounting & Virtual CFO Services.

[sbs-global]

NEWSLETTER 31ST DEC 2022

Direct Taxes

Partial relaxation with respect to electronic submission of Form lOF by select category of taxpayers in accordance with the DGIT (Systems) Notification №3 Of 2022.

Reference is invited to Notification №03/2022 dated 16th July 2022 issued by Directorate of Income Tax (Systems) New Delhi in the exercise of powers conferred under Rule 131(1)/(2) of the Income-tax Rules mandating, inter alia, furnishing of Form 10F electronically.

On consideration of the practical challenge being faced by non-resident (NR) taxpayers not having PAN in making compliance as per the above notification, and with a view to mitigate genuine hardship to such taxpayers, it has been decided by the Competent Authority that such category of Nonresident taxpayers who are not having PAN and not required to have PAN as per relevant provisions of the Income-tax Act,1961 read with Income-tax Rules, 1962, are exempted from mandatory electronic fil ing of Form lOF till 31’t March 2023. For the sake of clarity, it is reiterated that such ca tegory of taxpayers may make statutory compliance of filing Form 10F till 31’t March 2023 in manual form as was being done prior to issuance of the DGIT(Systems) Notification №3 of 2022.

In-Direct Taxes

48th Meeting of the GST Council (17th December 2022)

The 48th Meeting of the GST Council was held on 17th December, 2022 through Video Conference, under the chairpersonship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman.

Tax Rates

1. The GST Council has, inter-alia, made following recommendations for changes in GST rates:

Sr. No.DescriptionFromTo1Husk of pulses including chilka and concentrates including chuni/churi, khanda5%Nil2Ethyl alcohol supplied to refineries for blending with motor spirit (petrol)18%5%

2. It was decided to clarify that:

Rab (rab-salawat) is classifiable under CTH 1702 which attracts GST at the rate of 18%.

Fryums manufactured using the process of extrusion is specifically covered under CTH 19059030 and attract GST at the rate of 18%.

The higher rate of compensation cess of 22% is applicable to motor vehicle fulfilling all four conditions, namely, it is popularly known as SUV, has engine capacity exceeding 1500 cc, length exceeding 4000 mm and a ground clearance of 170 mm or above.

Goods falling in lower rate category of 5% under schedule I of notification №1/2017-CTR imported for petroleum operations will attract lower rate of 5% and the rate of 12% shall be applicable only if the general rate is more than 12%.

3. As a relief measure, the Council decided to regularise the intervening period starting from the date of issuance of Circular (3.08.2022) in respect of GST on ‘husk of pulses including chilka and concentrates including chuni/churi, khanda’ on “ as is basis” on account of genuine doubts.

4. No GST is payable where the residential dwelling is rented to a registered person if it is rented it in his/her personal capacity for use as his/her own residence and on his own account and not on account of his business.

5. Incentive paid to banks by Central Government under the scheme for promotion of RuPay Debit Cards and low value BHIM-UPI transactions are in the nature of subsidy and thus not taxable.

Measures for Facilitation of Trade

1. Decriminalization under GST: The Council has recommended to –

Raise the minimum threshold of tax amount for launching prosecution under GST from Rs. One Crore to Rs. Two Crores, except for the offence of issuance of invoices without supply of goods or services or both;

Reduce the compounding amount from the present range of 50% to 150% of tax amount to the range of 25% to 100%;

Decriminalize certain offences specified under clause (g), (j) and (k) of sub-section (1) of section 132 of CGST Act, 2017, viz.-

Obstruction or preventing any officer in discharge of his duties;

Deliberate tempering of material evidence;

Failure to supply the information.

2. Refund to unregistered persons: There is no procedure for claim of refund of tax borne by the unregistered buyers in cases where the contract/ agreement for supply of services, like construction of flat/house and long-term insurance policy, is cancelled and the time period of issuance of credit note by the concerned supplier is over. The Council recommended amendment in CGST Rules, 2017, along with issuance of a circular, to prescribe the procedure for filing application of refund by the unregistered buyers in such cases.

3. Paras 7, 8(a) and 8(b) were inserted in Schedule III of CGST Act, 2017 with effect from 01.02.2019 to keep certain transactions/ activities, such as supplies of goods from a place outside the taxable territory to another place outside the taxable territory, high sea sales and supply of warehoused goods before their home clearance, outside the purview of GST. In order to remove the doubts and ambiguities regarding taxability of such transactions/ activities during the period 01.07.2017 to 31.01.2019, the Council has recommended to make the said paras effective from 01.07.2017. However, no refund of tax paid shall be available in cases where any tax has already been paid in respect of such transactions/ activities during the period 01.07.2017 to 31.01.2019.

4. The Council has recommended to amend sub-rule (1) of rule 37 of CGST Rules, 2017 retrospectively with effect from 01.10.2022 to provide for reversal of input tax credit, in terms of second proviso to section 16 of CGST Act, only proportionate to the amount not paid to the supplier vis a vis the value of the supply, including tax payable.

5. The Council recommended to insert Rule 37A in CGST Rules, 2017 to prescribe the mechanism for reversal of input tax credit by a registered person in the event of non- payment of tax by the supplier by a specified date and mechanism for re-availment of such credit, if the supplier pays tax subsequently. This would ease the process for complying with the condition for availment of input tax credit under section 16(2)© of CGST Act, 2017.

6. Sub-rule (3) of rule 108 and rule 109 of the CGST Rules, 2017 to be amended to provide clarity on the requirement of submission of certified copy of the order appealed against and the issuance of final acknowledgment by the appellate authority. This would facilitate timely processing of appeals and ease the compliance burden for the appellants.

7. Rule 109C and FORM GST APL-01/03 W to be inserted in the CGST Rules, 2017 to provide the facility for withdrawal of an application of appeal up to certain specified stage. This would help in reducing litigations at the level of appellate authorities.

8. Circular to be issued to clarify that No Claim Bonus offered by the insurance companies to the insured is an admissible deduction for valuation of insurance services.

9. Circular to be issued for clarifying the issue of treatment of statutory dues under GST law in respect of the taxpayers for whom the proceedings have been finalised under Insolvency and Bankruptcy Code, 2016. Rule 161 of CGST Rules, 2017 and FORM GST DRC-25 also to be amended for facilitating the same.

10. Circular to be issued for clarifying the issues pertaining to the place of supply of services of transportation of goods in terms of the proviso to sub-section (8) of section 12 of the IGST Act, 2017 and availability of input tax credit to the recipient of such supply. It has also been recommended that proviso to sub-section (8) of section 12 of the IGST Act, 2017 may be omitted.

11. Issuance of the following circulars in order to remove ambiguity and legal disputes on various issues, thus benefiting taxpayers at large:

Procedure for verification of input tax credit in cases involving difference in input tax credit availed in FORM GSTR-3B vis a vis that available as per FORM GSTR-2A during FY 2017–18 and 2018–19.

Clarifying the manner of re-determination of demand in terms of sub-section (2) of section 75 of CGST Act, 2017.

Clarification in respect of applicability of e-invoicing with respect to an entity.

Measures for Streamlining Compliances in GST

12. Proposal to conduct a pilot in State of Gujarat for Biometric-based Aadhaar authentication and risk-based physical verification of registration applicants. Amendment in rule 8 and rule 9 of CGST Rules, 2017 to be made to facilitate the same. This will help in tackling the menace of fake and fraudulent registrations.

13. PAN-linked mobile number and e-mail address (fetched from CBDT database) to be captured and recorded in FORM GST REG-01 and OTP-based verification to be conducted at the time of registration on such PAN-linked mobile number and email address to restrict misuse of PAN of a person by unscrupulous elements without knowledge of the said PAN-holder.

14. Section 37, 39, 44 and 52 of CGST Act, 2017 to be amended to restrict filing of returns/statements to a maximum period of three years from the due date of filing of the relevant return/statement.

15. FORM GSTR-1 to be amended to provide for reporting of details of supplies made through ECOs, covered under section 52 and section 9(5) of CGST Act, 2017, by the supplier and reporting by the ECO in respect of supplies made under section 9(5) of CGST Act, 2017.

16. Rule 88C and FORM GST DRC-01B to be inserted in CGST Rules, 2017 for intimation to the taxpayer, by the common portal, about the difference between liability reported by the taxpayer in FORM GSTR-1 and in FORM GSTR-3B for a tax period, where such difference exceeds a specified amount and/ or percentage, for enabling the taxpayer to either pay the differential liability or explain the difference. Further, clause (d) to be inserted in sub-rule (6) of rule 59 of CGST Rules, 2017 to restrict furnishing of FORM GSTR-1 for a subsequent tax period if the taxpayer has neither deposited the amount specified in the intimation nor has furnished a reply explaining the reasons for the amount remaining unpaid. This would facilitate taxpayers to pay/ explain the reason for the difference in such liabilities reported by them, without intervention of the tax officers.

17. Amendment in definition of “non-taxable online recipient” under section 2(16) of IGST Act, 2017 and definition of “Online Information and Database Access or Retrieval Services (OIDAR)” under section 2(17) of IGST Act, 2017 so as to reduce interpretation issues and litigation on taxation of OIDAR Services.

About SBS

SBS Global is an ISO 9001:2015 & ISO 27001:2013 certified company serving since 2007. SBS Global offers a comprehensive range of Outsourced Financial Accounting Advisory Services, CFO Services, Compliance (i.e., Company Secretary services) & HR Services catering to the needs of Small & Medium Organizations across industry sectors to meet their changing needs & expectations. Our team includes employees having industry & domain expertise who have insights drawn from years of professional experience.

[fairgood]

Outsourced virtual CFO services in India offer businesses professional financial management and strategic advice without requiring a full-time, in-house CFO. These services are particularly advantageous for startups and small to medium-sized enterprises seeking to streamline their financial operations, enhance cash flow, and make well-informed strategic choices. In Kanpur, businesses have access to customized CFO services that address their requirements, providing a range of services from financial planning and analysis to risk management and compliance. Through the use of outsourced virtual CFO services, companies in Kanpur can attain improved financial stability, operational effectiveness, and sustained growth.

[onfilings]

Services rendered by a Virtual CFO

Before moving ahead to understand what a Virtual CFO does, let us first understand what a Virtual CFO is. A CFO is a chief financial officer who is responsible for strategically managing the finance of the company. Finance is the lifeblood of any business organization and the CFO is the highest financial professional in any organization who is responsible for the fiscal health of the business. The CFOs responsibility is to build top-notch accounts and finance teams and ensure that the revenue and expenses stay in balance.

A Virtual CFO is any finance expert who renders his services to any organization that does not have an in-house finance team. Due to a shift towards digitalization, there has been a massive demand for Virtual CFOs in the business environment.

Startups and Small businesses may not necessarily appoint an in-house CFO, they can always go ahead with a Virtual CFO who can strategically manage all of their finances and the business owners can focus on their business.

With technological advancements, the role of a CFO has immensely increased. A CFO should have the expertise to work in this competitive environment. The organization is required to appoint qualified Cas and CFAs who will make sure that the finances of the organization is having a clear balance between the revenue and expenses.

There are a lot of additional benefits while hiring a Virtual CFO for the business. It leads to better productivity, greater flexibility, the process for growth, strategic decision-making, etc.

Services offered by a Virtual CFO

There are a lot of services that are offered by a Virtual CFO to manage the functioning of any organization strategically.

Identify the key issues and metrics and reports to monitor accordingly.

Analyse financial results as per the financial plan.

Budgeting & Cash Management.

Financial Planning

Strategic Planning

Relationship Building with external parties

Benefits of having a Virtual CFO

There are a lot of benefits for any organization with a Virtual CFO:

Quick growth of Business- With a Virtual CFO, any business organization can see quick growth in business as all the finance and accounts are managed by any external expert CFO and the business owners can focus on their core business.

Financial Projections- An expert Virtual CFO will help any business organization get an effective financial projection for the business, keeping in mind the expenses and revenues of the business.

Budgetary Control- A fixed Budget is allocated to carry out different activities in the organization. With a Virtual CFO.

Regular Insights- To manage the finances and get regular insights of the business in terms of strategy and numbers.