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Business Challenge
Avery Dennison is a global manufacturer and distributor of pressure-sensitive adhesive materials (such as self-adhesive labels), apparel branding labels and tags, RFID inlays, and specialty medical products. Avery Dennison was looking for a single window solution in 1995 to enter into the market and was looking for a partner to support its Indian arm for the statutory compliances like TDS, Income Tax, Excise, Sales Tax or VAT and Service Tax to be followed in India whileconducting the business operations here.Since in India,direct and indirect taxes are very complex and indirect taxes vary from state to state, a consulting partner was necessary to guide the organization for all compliance requirements and acts of direct and indirect Taxes.

Solution
Avery Dennison has received positive feedback and has a good track record with ASC as a consulting partner for the maintenance of records of statutory compliances like TDS, Income Tax, Excise, Sales Tax or VAT and Service tax to be followed in India while conducting the business operations with a single window.

ASC came up with all the support needed starting from setting up of the company to the fulfillment of all the legal compliances which were mandatory for the company for the maintenance of statutory records to comply with various law like TDS, Income Tax, Excise, Sales Tax, VAT and Service Tax. This support was in the form of consultation in relation to compliances related to TDS, Income Tax, Excise, and Sales Tax or VAT and Service Tax and the support needed for day to day operations.

ASC also helped Avery Dennison maintain the Indian company’s books of accounts required under excise and VATlaws which was ultimately used by the company to consolidate it in their books of accounts for reporting purposes.

In effect, ASC supported Avery Dennison for all the legal compliances and with all the controls which were needed to be present in an organization for its working.

Benefits
Partnering with ASC was a critical step for Avery Dennison, as ASC acted as a single window shop for all its requirements and needs related to the business and legal compliances to be followed in India.

With all the support from Avery Dennison, ASC was able to set up all the processes for the organization which includes computation and filling TDS returns, Income Tax Scrutiny, Compliance of International taxes on remittance, maintenance and compliance of Excise, Service tax and VAT record, and all other similartasks associated with carrying out the business of Avery Dennison.

Presently, ASC is now expanding its portfolio and is providing highly technical solutions to the problems of the group as demand continues to grow.

 

Business Challenge
Foresight Group was looking forward to set up an offshore center in India to leverage on the benefits provided by India to multinationals on account of being a developing economy. Foresight Group was looking to enter into India in 2008 and was looking for a partner to support its Indian arm to account for all the legal compliances to be followed in India while conducting the business operations. Since India was a new market for Foresight Group as a whole, therefore, a consulting partner was necessary to guide the organization for all its compliances and act as a virtual CFO for the Indian subsidiary.

Solution
Foresight India has received positive feedback and a good track record with ASC as a consulting partner to monitor day to day operations of the company. ASC came up with all the support needed starting from setting up of the company to the fulfillment of all the legal compliances which were mandatory for the company. This support was in the form of consultation in relation to compliances regarding income tax, service tax, annual filings with registrar of companies, transfer pricing and the support needed for day to day operations.

ASC also helped Foresight Group to maintain the Indian company’s books of accounts in international software accounting packages which was ultimately used by the parent company to consolidate it in their books of accounts for reporting purposes.

In effect, ASC supported Foresight Group to fulfil all the legal compliances and with all the controls which were needed to be present in an organization for its working.

Benefits
Partnering with ASC was a critical step for Foresight Group, as ASC acted as a single window shop for all its requirements and needs related to the business and legal compliances to be followed in India.

With all the support from Foresight India, ASC was able to set up all the processes for the organization which includes payroll processing, process for expense claims, consolidation of accounts of Indian subsidiary and all other similar tasks associated with carrying out the business of Foresight India.

Presently, ASC is now expanding its portfolio and is providing highly technical solutions to the problems of the group as demand continues to grow.