The main reason being:
Financial Constraints
It is no secret that small companies don’t have much room in their budget. Owing to such financial constraints, new businesses often make the mistake on accounting resources. Research has shown that more than half of all small businesses do not employ a bookkeeper or an accountant.
Lack of Professional Expertise
This is the another reason, And the requirement is that they lack professional expertise in matters about taxation. Likewise, small businesses are curtailed either because they are unable to afford to hire in-house personnel to cover such skill shortfalls
Hesitance in Seeking GST Advisory
Hiring a reliable GST consultantor a CA can help ensure that you don’t miss vital deadlines and are compliant with all things GST. As a small business owner, you may not have the finances or the need to engage a full-time GST compliance officer, using an external GST compliance service to take care of it on your behalf can be extremely beneficial.
Hence outsourcing the accounting, compliance of GST and income tax returns are key source to the small businessman to have proper compliance at low cost.
If you are also paying fine, interest and penalties under any law or act, we are there to help you out.
Regards
CA Umang Jain
+91 96323-32850
©2023 by caumang.com
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