Manager - Indirect Taxation (6-10 yrs)

Company: FMCG

Designation: Manager indirect taxation

Location: Mumbai

Responsibilities:

- GST compliance is a critical aspect of tax management that involves meticulous return filings, ensuring accuracy through thorough checks and verifications.

- This includes Input Tax Credit (ITC) matching, Integrated Management System (IMS) verification, and compliance with various GST return forms such as GSTR-1, GSTR-3B, Input Service Distributor (ISD), job work-related filings, and the annual return. Each of these filings plays a crucial role in maintaining transparency and adherence to tax regulations.

- Furthermore, GST reconciliation is a vital process to ensure consistency across various filings and records. This includes matching GSTR-1 with GSTR-3B to verify outward supplies, reconciling e-way bills with e-invoices to ensure accurate reporting of goods movement, and comparing GSTR-2B with purchase records (PR) to validate input tax credits.

- Proper reconciliation helps in avoiding discrepancies, ensuring compliance, and reducing the risk of penalties.

- Handling GST notices is another essential responsibility, as businesses may receive various types of notices, including routine inquiries, normal compliance checks, assessment-related notices, and audit-related notices.

- Addressing these notices efficiently requires expertise and coordination with state-wise consultants who have in-depth knowledge of regional GST regulations. Their guidance ensures timely and accurate responses, minimizing legal risks and potential liabilities.

- Lastly, general ledger reconciliation plays a fundamental role in ensuring that financial records align with GST returns.

- This process involves verifying transactions recorded in the books of accounts against GST filings to detect any inconsistencies or errors. Maintaining accurate records and conducting periodic reconciliations not only aids in compliance but also strengthens financial reporting and decision-making for businesses.

- Overall, a robust GST compliance framework helps organizations navigate the complexities of tax regulations while ensuring accuracy, transparency, and efficiency in their financial operations.