Amritsar-based Satish Bansal, senior partner at B.D. Bansal & Co, is a third-generation chartered accountant in the family. The firm, started by Satish’s grandfather, BD Bansal, in 1946 in Amritsar, offers consultancy in auditing, accounting, taxation, liaisoning and other allied services.
The company claims to have catered to all the prominent clients from Delhi and Punjab. With offices in Delhi, Amritsar, and Ludhiana, the company currently clocks a turnover of Rs 10 crore and employs 100 people.
Leading a more than seven-decade-old company, Satish shares with SMBStory how the accounting and consultancy industry has changed over the years. He says, “Earlier laws were simple. There were not many Acts.” Now, many provisions have come in, and clients often expect the firm to provide a wide array of services and not just a single service it specialises in, he adds.
As a professional in the industry for more than three decades, we asked his take on GST. He says, “While GST in principle is good, its implementation could have been much smoother had the government made it
mandatory after a year from its introduction.”
In a video interview with SMBStory, Satish decoded how over the years, many industries in Amritsar, ranging from textile to real estate, developed and failed. Watch the video to know why.