Senior Manager - Indirect Taxation - CA

Education: Charted Accountant

Key Accountability:

Compliances on (GSTR1) / (GSTR3B) Sales return filing:

Major Activities/ Tasks:

- Validating the Sales data state wise in SAP ASP before filing.

- Whether all Customer Master data (including GST No) are updated

- Sales related to SEZ / Unregistered Dealers etc are bifurcated

- All Export related Details of port code shipping Bill, BL Invoice etc are present in system.

- All Documents having correct HSN Code and tax rate

- Prepare State wise reconciliation of the data in SAP ASP with Respective state GL Accounts (related to Sales)

- Reconcile the Invoice cancellation/ JV/DN/CN captured properly in the SAP ASP with Sales Register

- Prepare reconciliation statement of the SAP ASP and GL tax liability for approval

- Coordinate with respective Marketing division for updation of above data for smooth functioning of ASP GSP system.

GST TDS reconciliation and accounting:

GST TDS:

- TDS is to be deducted at the rate of 2 % on payments made by Public Sector undertakings to the supplier of taxable goods and/or services, where the total value of such supply, under an individual contract, exceeds Rs.2,50,000.

- There will be an automatic reflection in the electronic ledger of the deductee (supplier) once the deductor files his/her returns. The deductee can claim credit in his electronic cash ledger of this tax deducted and use it for payments of other taxes.

- Below Process followed for TDS accounting

- Accept TDS reported on GSTN Portal

- Passbook entry effecting respetive GL

- Intimate business accounts team for further needful knock off against customer dues

- Ensure reconcilition between TDS GL and inform business finance team

Compliances on (GSTR2) Purchases Validation in SAP and ASP and GSP:

- Scrutinize Credit posted in SAP GL from the point of their eligibility conditions with cross check of Place of supply, supplier's GSTIN, invoice number, financial year, and HSN/SAC Code etc. and escalate one level up for issues to be resolved

- Reversal of non eligible credits in system through respective users coordination after clearance from higher authority

- Cross Check Import IGST credit based upon bill of entry filed. This needs to be manual upload at GST portal. Coordinating with respective marketing department for getting data timely manner.

- GSTR2A to user for its cross check with Purchase register generated through ESS SAP reconciliation state wise with GL

- Keep the summary of GST credit reconciled with state wise IGST,CGST,SGST credit as per GSTN portal and as per GL

- Compile data for submission for Audit / GST Authorities as and when asked for each state

Branch stock transfer (STO Control) accounting review:

- Branch stock transfer

- Highlighting non posting of inbound stock transfer invoices to business/ IT SAP team based on STO control accounts review, having effect on GST credit in recipient state.

- Ensure correction, in case of discrepancy

ISD invoicing and distribution of ISD credit:

- ISD or an Input Service Distributor is a type of taxpayer under GST who needs to distribute the GST input tax credits that pertain to its GSTIN to its units or branches having different GSTIN but registered under the same PAN

- Reconcilition of GSTR2B (GSTN) vs ISD GL entries

- Ensure transfer of credit booked in other than ISD GL to ISD credit GL

- Prepare working of ISD credit to be distributed

- Pass distribution entries in SAP

- Generate invoice for ISD distribution

Annual Return in form GSTR-9 in pursuance of Goods and Service Tax act, 2017:

Following steps performed in annual return preparation :

i) Computation of statewise turnover in line with audited Financial statement

- Reconciliations of sales register as per audited published books of accounts

ii) Statewise comparative analysis of GST1 and GSTR3B for identifying Gaps incase any.

iii) Statewise Invoice level comparative analysis of GST1 with Financial statement for identifying non GST supply/ regrouping etc.

iv) Reconciliation of GSTR2A with ITC claimed/ accounting of missed invoices

v) Providing RCM data / Rate wise schedules/ Expense bifurcation etc. for reporting purposes

vi) Verification of Fixed assets register

vii) Addressing auditors points

Other ancillary task:

- Co-ordination with External & Internal Auditors and other agencies for timely completion and reporting of Taxation related issues & enabling of corrective action of audit observations