Professional Services
54 services across seven areas of practice. Each page sets out the scope of work, the governing law and the activities involved.
Services reserved by law. Some services may be performed only by a Cost Accountant in practice, such as statutory cost audit under section 148 of the Companies Act, 2013. Others are shared with other professionals. Statutory financial audit and tax audit reports are reserved for Chartered Accountants and are not offered by the firm.
01
Cost & Management Accounting
Cost and management accounting is the core discipline of a Cost Accountant. The firm designs and reviews costing systems, maintains cost records prescribed under the Companies Act, 2013, conducts statutory cost audits, and prepares the management information that operating decisions depend on.
- Cost AuditReserved Statutory cost audit under section 148 of the Companies Act, 2013 and the Companies (Cost Records and Audit) Rules, 2014.
- Cost Record Maintenance Design and maintenance of cost accounting records in Form CRA-1 for companies covered by Rule 3 of the Cost Records and Audit Rules.
- Product Costing Unit-level product cost computation for pricing, quotations, margin analysis and inventory valuation.
- Activity-Based Costing Allocation of overheads to products, customers and channels based on the activities that drive cost.
- Cost Reduction Studies Structured review of material, conversion and overhead costs to identify measurable reduction opportunities.
- Cost Management Systems Design and implementation of costing systems integrated with the ERP and the financial ledger.
- Standard Costing Setting material, labour and overhead standards and analysing variances against actual performance.
- Budgeting & Variance Analysis Annual and rolling budgets, flexible budgets and monthly budget-versus-actual analysis.
- MIS Reporting Monthly management information packs: profitability, working capital, cost trends and key performance indicators.
- Operational Cost Analysis Analysis of cost behaviour, capacity utilisation, break-even and contribution by product, plant or location.
02
Audit & Assurance
The firm conducts audits that give management, lenders and boards an independent view of controls, assets and operations. Statutory financial audits under the Companies Act and tax audits under the Income-tax Act are reserved for Chartered Accountants and are not offered.
- Internal Audit Risk-based internal audit of processes and controls, including appointment as internal auditor under section 138 of the Companies Act, 2013.
- Stock & Inventory Audit Physical verification and valuation of inventory for management or for banks under working capital arrangements.
- Receivable Audit Verification of trade receivables: balance confirmation, ageing, recoverability and credit control review.
- Fixed Asset Verification Physical verification, tagging and reconciliation of fixed assets with the fixed asset register.
- Operational Audit Review of efficiency and effectiveness of operations: production, purchase, stores, logistics and maintenance.
- Concurrent Audit Ongoing audit of transactions as they occur, typically for bank branches and treasury operations.
- Management Audit Assessment of management policies, organisation structure, decision processes and performance against objectives.
- Forensic Audit Investigation of suspected fraud, financial irregularities and fund diversion, with evidence-based reporting.
- Co-operative Society Audit Statutory audit of co-operative societies under the Maharashtra Co-operative Societies Act, 1960, and special or cost audits where ordered.
03
Certification Services
Several laws, schemes and regulators accept certificates from a Cost Accountant in practice on cost, production, value addition and turnover. Each certificate is issued only after examination of the underlying records, in the form the authority prescribes.
- Cost of Production Certificates (CAS-4) Certification of cost of production under CAS-4 for captive consumption, transfers between units and GST valuation.
- Local Content Certification (Make in India) Certificates of local content for suppliers in public procurement under the Public Procurement (Preference to Make in India) Order, 2017.
- PLI Scheme Certification Certification of eligible sales, investment and value addition for claims under Production Linked Incentive schemes.
- Export, Customs & SEZ Certification Cost certificates for export valuation, brand rate drawback, SEZ performance reports and related customs requirements.
- Anti-dumping & Trade Remedies Cost Data Preparation and certification of cost of production and injury data for anti-dumping and safeguard proceedings.
- Turnover, Production & Other Certificates Certificates of turnover, production and financial data for tenders, BIS licence renewal, lenders and regulators.
04
GST & Indirect Taxation
The firm handles GST compliance and advisory for manufacturers, traders and service providers. A Cost Accountant may appear as an authorised representative under section 116 of the CGST Act, 2017.
- GST Registration New registration, amendment, additional place of business and cancellation or revocation under the CGST Act.
- GST Returns Monthly and quarterly GSTR-1 and GSTR-3B, annual GSTR-9 and GSTR-9C, and composition returns.
- GST Reconciliation Reconciliation of books with GSTR-1, GSTR-3B and GSTR-2B, and of turnover with e-invoices and e-way bills.
- GST Audit & Advisory Health checks, departmental audit support under section 65 and special audit under section 66 of the CGST Act.
- GST Refunds Refunds of accumulated credit on exports and inverted duty structure, and of excess cash balance.
- GST Assessment Scrutiny of returns, replies to notices, and representation in demand proceedings under sections 61, 73, 74 and 74A.
- GST Appeals & Litigation Appeals before the Appellate Authority and the GST Appellate Tribunal, with drafting and representation.
- Input Tax Credit Advisory Eligibility, blocked credits, reversals and apportionment of input tax credit.
- E-invoicing & E-way Bill Advisory Applicability, system setup and compliance checks for e-invoicing and e-way bills.
05
Direct Taxation
From 1 April 2026 the Income-tax Act, 2025 replaces the Income-tax Act, 1961 for new tax years, while proceedings for earlier years continue under the 1961 Act. The firm handles compliance and representation under both.
- Income Tax Returns Preparation and filing of income tax returns for individuals, firms, LLPs and companies.
- Tax Planning Lawful planning of business structure, remuneration, investments and transactions within the provisions of the Income-tax Act.
- Tax Audit Support Preparation of books, schedules and records required for the tax audit report.
- Tax Assessment Responses to notices, faceless assessment proceedings and reassessment.
- Tax Litigation Appeals before the Commissioner (Appeals) and the Income Tax Appellate Tribunal.
- TDS Compliance Deduction, deposit and quarterly TDS and TCS returns, lower deduction certificates and default resolution.
- Tax Advisory Opinions on the tax treatment of transactions, transition to the Income-tax Act, 2025 and international payments.
06
Financial & Business Advisory
The firm supports owners, investors and lenders with financial analysis for decisions: what a business is worth, whether a project is viable, how much funding it needs and how cash will flow.
- Business Valuation Valuation of businesses, shares and intangible assets for transactions, restructuring and internal decisions.
- Financial Due Diligence Review of quality of earnings, net working capital, debt and contingent liabilities before an acquisition or investment.
- Project Finance Project reports, CMA data and loan proposals for term loans and working capital limits.
- Financial Feasibility Studies Assessment of whether a project, expansion or new line of business is financially viable.
- Business Planning Business plans with financial projections for owners, investors and lenders.
- Financial Modelling Integrated three-statement models, scenario analysis and model review.
- Cash Flow Management Cash flow forecasting, working capital cycle review and liquidity planning.
- Virtual CFO Services Part-time finance leadership: reporting, controls, budgeting, compliance oversight and lender relations.
07
Corporate & Regulatory Advisory
Practising Cost Accountants are recognised for certification of specified e-forms filed with the Ministry of Corporate Affairs and may appear before the National Company Law Tribunal under section 432 of the Companies Act, 2013.
- Company & LLP Compliance Annual filings, event-based forms and statutory registers for companies and LLPs.
- Regulatory Compliance Compliance reviews across tax, corporate, labour and industry-specific laws.
- Corporate Restructuring Advisory Financial analysis and advice on restructuring, reorganisation and conversion of business entities.
- Merger & Amalgamation Advisory Schemes of arrangement, fast-track mergers and representation before the National Company Law Tribunal.
- Business Setup Advisory Choice of entity and registrations for new businesses: company, LLP, partnership or proprietorship.