GST Compliance & Automation
Ensuring seamless GST compliance through automation and expert management of Input Tax Credit (ITC).
Welcome to Sompalli and Co
At Sompalli and Co, we are dedicated to providing top-tier financial and auditing services that empower businesses in Nellore to navigate today's regulatory environment with confidence.
Our commitment to excellence is reflected in our deep expertise, innovative solutions, and client-centered approach.
Whether you're a large corporation or a growing enterprise, we tailor our services to meet your unique needs, ensuring compliance, accuracy, and transparency in all your financial matters.
Our Smart Approach
- We leverage advanced technology and a deep understanding of regulatory frameworks.
- Our approach combines automation, data analytics, and proactive compliance strategies to deliver unparalleled value.
- We help businesses reduce risks, improve efficiency, and stay ahead of regulatory changes.
Our Best Services
Book Keeping Services
Accurate and reliable bookkeeping services to keep your financial records in order, ensuring you have the data you need to make informed decisions.
Audit and Assurance Services
Our audits are conducted using internationally recognized frameworks like INDAS, IFRS, Indian Accounting Standards, and USGAAP, with a strong focus on Risk-Based Audits to identify and mitigate potential risks effectively.
GST Compliances
We offer comprehensive support throughout the entire GST lifecycle—from registration to filing returns, and from compliance checks to appeals.
Technology Audit Services
Comprehensive solutions to optimize and secure your technology investments.
Financial Statement Services
We specialize in preparing comprehensive Annual Reports that meet the highest standards of financial reporting. Whether you need reports prepared under INDAS, Indian Accounting Standards, USGAAP, or IFRS, we’ve got you covered.
Internal Audit Services
In-depth internal audits designed to identify risks and improve processes, ensuring your operations are efficient and compliant.
Income Tax Services
Expert assistance with filing income tax returns, tax planning, and compliance, ensuring that you meet all legal requirements while optimizing your tax liabilities.
Data Analysis Dashboard
Leverage the power of data visualization tools like Power BI and Tableau to gain actionable insights from your data, driving smarter business decisions.
Accounts Payable
Our Accounts Payable services are designed to optimize and streamline your business's financial processes, ensuring timely payments, compliance with regulations, and enhanced cash flow management.
Virtual CFO Services
Our Virtual CFO services provide strategic financial management, helping your business to optimize cash flow, manage financial risks, and plan for sustainable growth.
Our Registration Services
Business Registrations
Private Limited, LLP, Sole Proprietorship, and more.
Tax Registrations
GST, TAN, PAN, and other tax-related registrations.
Intellectual Property
Trademark, Copyright, and Patent registrations.
Professional Registrations
ESI, PF, and Professional Tax registrations.
Import-Export Registrations
IEC registration for international trade.
Other Key Registrations
MSME, Shop Act, and FSSAI registrations.
Our Productivity Tools
Boost your efficiency with our easy-to-use tools designed for professionals.
Independent Audit Report Generator
Generate professional audit reports in just a few clicks.
Learn MoreName Extractor
Easily extract and organize names from your client lists, databases, or spreadsheets with our simple-to-use Name Extractor tool.
Learn MoreOur Industry Expertise
We offer specialized services to a wide range of industries, helping them navigate complex challenges and achieve business success.
Manufacturing
Streamlining production processes, enhancing efficiency, and ensuring compliance with industry regulations.
Oil & Gas
Optimizing exploration and production, ensuring safety, and managing environmental impact.
Banking & NBFC
Delivering risk management, regulatory compliance, and digital transformation solutions.
Logistics
Enhancing supply chain efficiency, reducing costs, and ensuring timely delivery.
Healthcare
Delivering compliance and operational excellence in the healthcare sector.
Our Blog
Discover how Sompalli and Co is leveraging AI to revolutionize financial management, audits, and compliance. Our smart AI-driven solutions enhance accuracy, efficiency, and strategic decision-making.
The Importance of Cash Flow Management
Praveen Chowdary- 10 August 2024
Learn why managing your cash flow effectively is crucial for the financial health of your business and how a Virtual CFO can help.
M/s Safari Retreats Private Ltd. and Section 17(5)(d) of the CGST Act
- Praveen Chowdary
- 03rd October 2024
It raises crucial questions on the applicability of Input Tax Credit (ITC) under Section 17(5)(d) of the Central Goods and Services Tax Act (CGST Act), 2017, specifically for businesses involved in renting out immovable property.
Invoice Management System (IMS)
Urukundu- 04 September 2024
The new Invoice Management System allows taxpayers to efficiently address invoice corrections and amendments with their suppliers via the GST portal. This system helps ensure correct Input Tax Credit (ITC) and provides a new communication process for taxpayers to accept, reject, or keep an invoice pending in the system.
Goods and Services Tax (GST) in India, the tax obligations for government entities became more structured and aligned with those of private organizations
GST Advisory for Goods Transport Agency (GTA) Services
- Praveen Chowdary
- 04 September 2024
Comprehensive Guidance on Taxation, Input Tax Credit (ITC), and Compliance for GTA Businesses.
Royalty Payments Under the India-UK DTAA
- Praveen Chowdary
- 08 August 2024
Explore the taxability of royalty payments made by an Indian entity to a UK-based company, with a focus on the provisions under the India-UK Double Taxation Avoidance Agreement (DTAA).
AI-Driven Compliance Management
- Praveen Chowdary
- 05 August 2024
AI simplifies compliance management by continuously monitoring regulatory changes and updating protocols. Learn how our AI tools keep your business compliant.
At Sompalli and Co, we are committed to integrating AI to streamline your business operations. Reach out to learn more about how our AI-driven solutions can benefit you.