Saturday, June 28, 2008

Bharat Parmar

Tax managers focus more on compliance than planning

Hindu, India - 11 hours ago

Either, compliance standards have been put very high which require more resources, or corporates have been ignoring compliance issues. ...


Murali said...


BMS solution encompasses:

An on-demand version of KORE, a proven tax calculation and determination engine.

The KORE platform integrates quickly, seamless and securely with the client’s back-end systems like ERP and leverages BMR’s automatic tax research updates for the central and states jurisdictions to automatically eliminate errors in tax decision making. As each and every transaction occurs, it is accurately taxed for Service Tax and VAT.

BMS expertise.

BMS team of experts, including CAs and former auditors, provide oversight and continuity to ensure the highest degree of service tax and VAT compliance as your business grows and evolves.

The tax research team at BMS is composed of experienced CAs and tax experts and provides deep expertise on all aspects of Service Tax and VAT laws, rates, and changes due to notifications and circulars. The team is in constant communication with tax authorities and continuously monitors tax changes in order to ensure that our platform KORE is up-to-date with the most current tax rates and notifications to deliver the highest level of accuracy. BMS customers can leverage the power of our research team without maintaining in-house tax knowledge, and free up resources to focus on more strategic tasks.

Automated tax return preparation and generation

BMS tax professionals ensure end-of-month reconciliation with the client’s accounting system of record. Then, based on the filing period, KORE automatically and accurately populates all appropriate central and state returns for the client’s signature, with the returns delivered via a secure, personalized portal.

Comprehensive reporting and communications

Detailed audit reports are delivered each month along with the client’s returns to help provide visibility into company performance, audit support and to support compliances like SOX. BMS also continually notifies users of important events, such as month end balances and tax return availability.

Audit research and support

Getting the tax right to begin with, and having all the data compiled and in order, is the first line of defense against audits and penalties. BMS, technology enabled with KORE ensures that the client’s staff is relieved from the time consuming hours of research and data collection associated with audit preparation and management. As the knowledgeable preparers of the client’s returns, BMS tax professionals are also available to field informational queries and to help eliminate common response errors.

Historical rates ensuring continued accuracy, compliance

BMS research constantly updates rules, rates, product, and other data as mentioned in the previous section. Because all data is date-specific, with effective start and end dates, historical data is also maintained. This enables our clients to both process transactions using old invoice dates as well as maintains accurate reporting data for audit and reporting purposes.

Bharat Parmar | Vice President

D +91 11 3081 6166 | B +91 11 3082 3900
M +91 98117 99162 | F +91 11 3081 5001

Rated as a Great Place to Work in 2008

BMR Advisors | The Great Eastern Centre | First Floor | 70, Nehru Place | New Delhi 110 019

Murali said...

About Bharat
In his role as Vice President - Business Development, Bharat is responsible for conceptualizing compliance service offerings and taking them to market. His role includes business development spectrum of client acquisition and relationship management, service offering design and process transitions. His responsibility areas also include building corporate and brand identity and driving strategic growth initiatives of BMS.
Prior to joining the Firm, Bharat was an Engagement Manager at Keane and was a part of the team, which pioneered the model of executing international consulting assignments with resources based in India. His Black Belt experience in leading large Six Sigma projects to improve productivity and resource utilization with GECIS (now Genpact) is considered valuable towards driving productivity improvement projects for our client operations.
Bharat is an MBA from Indian Institute of Management, Lucknow and a B.Tech from Institute of Technology, BHU. He started his career with Wipro Technologies and was a part of the international account management team for the Financial Services vertical.