Chartered accountants · Ludhiana
Chartered Accountant in Ludhiana, Cheema Chowk
Our Ludhiana office is at Industrial Area-A, Cheema Chowk, and is led by CA Mehtaab Qureshi. Ludhiana is one of the country's larger concentrations of small and medium manufacturing, and the work here reflects it: stock-backed working capital, export refunds, and the Punjab registrations that go with operating in the state.
Our Ludhiana office
Areas served from this office
- Cheema Chowk
- Industrial Area-A
- Focal Point
- Gill Road
- Sahnewal
- Doraha
Ludhiana branch head
CA Mehtaab Qureshi
Head – Ludhiana Branch
CA · Forensic · B.Com
- Technology-driven Audit
- Due Diligence
- Assurance Technology
- Income Tax
Working with businesses in Ludhiana
Ludhiana's manufacturing base
Four clusters account for much of the city's output: hosiery and knitwear, bicycles and bicycle parts, auto components, and machine tools and light engineering. Most of it is small and medium enterprises, often family-run, frequently supplying larger assemblers or exporting directly. Two features shape the accounting. The first is seasonality — knitwear in particular builds inventory ahead of the winter season and realises it afterwards, so the working-capital position looks very different in August from February. The second is sub-contracting and job work, which has its own GST treatment for goods sent out and returned, and its own documentation.
Exporters: the Letter of Undertaking, refunds and realisation
A large share of the city's knitwear, bicycle parts and hand tools leaves the country, and the GST question is always the same: export on payment of IGST and claim it back, or export under a Letter of Undertaking and claim the accumulated input tax credit instead. The second route keeps working capital out of the tax system, which matters for a seasonal business, but the undertaking has to be furnished for the financial year before the exports are made, not afterwards. Claims then turn on reconciliation: invoice, shipping bill and return data agreeing, and for services, evidence that payment was received in foreign exchange. Most rejected refunds we see are reconciliation failures rather than questions of entitlement.
Working capital secured on stock
Manufacturing here runs substantially on cash-credit limits secured against stock and book debts, and that brings a monthly discipline. Stock statements go to the bank each month and drawing power is recalculated from them, so a statement not filed usually means the drawing power is restricted — which for a seasonal business can bite exactly when inventory is at its peak. Where the limit crosses the bank's threshold a periodic stock audit follows, examining physical stock against the statements, the valuation basis, the ageing of both stock and debtors, and whether creditors funding the stock have been deducted. Businesses that keep the records current find the audit straightforward; those that estimate the monthly statement do not.
Punjab registrations, including a professional tax
Punjab's position differs from Uttar Pradesh's in a way that catches businesses with offices in both. GST is registered in Punjab for a place of business in Ludhiana. Companies registered in Punjab fall under the Registrar of Companies at Chandigarh, which also covers Chandigarh itself. And unlike Uttar Pradesh and Delhi, Punjab does levy a professional tax: the Punjab State Development Tax, charged as a flat monthly amount on persons liable to income tax above the threshold the state Act sets, which means an employer processing payroll from Ludhiana has a monthly deduction and return that the same employer's Noida office does not.
Project reports and bank finance
Expansion here usually means machinery, and machinery usually means a term loan. What a lender assesses is whether the projected cash flow services the repayment with a margin, tested through the debt service coverage ratio year by year rather than on average, and whether the working capital the extra turnover will absorb has been accounted for. Applications are more often returned for a projection that cannot be reconciled with the GST returns and bank statements the lender can already see than for any doubt about the business itself. Where the proposal is for a micro or small enterprise, the credit guarantee scheme can allow lending without collateral, within its limits.
Working with the Ludhiana office
CA Mehtaab Qureshi leads this office, working in technology-driven audit, due diligence and income tax. The office is at Cheema Chowk, within reach of Industrial Area-A, Focal Point, Gill Road and the industrial belt towards Sahnewal. Routine compliance is handled online; stock audits, physical verification and the opening stages of a statutory audit are done on site.
Services we are asked for most in Ludhiana
GST Refund & LUT
Refund claims and LUT filing for exporters.
Stock Audit for Banks
Verification of stock, debtors and drawing power for working-capital borrowers.
Project Report & CMA Data for Bank Loans
Projections, CMA data and DSCR workings in the format banks ask for.
Statutory Audit
Independent audit of financial statements under the Companies Act and LLP Act.
GST Return Filing
Monthly and annual GST returns, filed on time.
Payroll, PF & ESI Services
Salary processing with TDS, provident fund, ESI and professional tax compliance.
Tax Audit (Section 44AB)
Tax audit and Form 3CA/3CB-3CD reporting for businesses and professionals.
Udyam (MSME) Registration
MSME registration for small businesses.
One Person Company Registration
Incorporate a company with a single owner.
Where else we work
50+ professionals: chartered accountants, company secretaries and semi-qualified chartered accountants.
Frequently asked questions
Quick answers to the questions we hear most often.
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Ask a CAWhere is your Ludhiana office?
At 223, First Floor, Industrial Area-A, Cheema Chowk, Ludhiana 141003. It is within reach of Focal Point, Gill Road and the industrial belt towards Sahnewal. The office is led by CA Mehtaab Qureshi.
Who leads the Ludhiana office?
CA Mehtaab Qureshi heads the Ludhiana branch. He is a chartered accountant with a forensic qualification, and his work covers technology-driven audit, due diligence, assurance technology and income tax.
Which Registrar of Companies covers a company registered in Punjab?
The Registrar of Companies at Chandigarh, which covers Punjab and Chandigarh. Incorporation documents and annual filings for a company with its registered office in Ludhiana go there. A group with entities in Punjab and in Uttar Pradesh will be filing with two different registries on the same annual timetable.
Does Punjab have professional tax?
Yes. Punjab levies the Punjab State Development Tax, which functions as the state's professional tax. It is charged as a flat monthly amount on persons liable to pay income tax whose income exceeds the threshold the state Act prescribes, and an employer deducts and pays it for employees in the state. This is a difference from Uttar Pradesh and Delhi, neither of which levies professional tax, so an employer with offices in Ludhiana and Noida has the obligation for the Ludhiana staff only.
Do you carry out stock audits for banks in Ludhiana?
Yes. Stock audits are appointed by the lending bank rather than by the borrower, and the report goes to the bank. The work covers physical verification of stock against the statements submitted, the valuation basis, the ageing of stock and book debts, verification of debtors, and the drawing power the verified position supports after ineligible stock, creditors and the prescribed margin are taken out.
Can you help an exporter claim GST refunds?
Yes, and it is a regular part of the work from this office. It covers furnishing the Letter of Undertaking for the financial year so exports can be made without paying IGST, preparing the refund claim with the statements and reconciliations the category requires, and replying to deficiency memos and show-cause notices. The two-year limit runs from the relevant date for the category, so claims are better started early than close to the limit.
Services at this office
- Audit & Assurance services
- Income Tax services
- GST & Indirect Tax services
- Company & Business Registration services
- ROC & Secretarial Compliance services
- Accounting & Bookkeeping services
- International Tax, FEMA & NRI services
- Business Advisory & Valuation services
- NGO, Trust & Not-for-Profit services
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