Lead - Finance & Accounts

Duties and Responsibilities

PRINCIPAL ACCOUNTABILITIES
(Accountabilities associated with the job)
1. Review of all GST returns (GSTR-1, GSTR 3B, GSTR-6, etc) and ensure that should be filed within due date.
2. To ensure that correct payment of taxes should happen within due date.
3. Review and ensure that GST credit should be reconciled and there should not be loss of GST credit.
4. Prepare revenue reconciliation with GST returns to ensure correct reporting of all income stream while filing GST returns.
5. Review and monitor asset procurement/ sale and ensure correct GST accounting.
6. Ensure the proper controls are in place to mitigate error in accounting of GST liability or credit while booking income or expenses.
7. Process Improvements to reduce manual dependency in collaboration with IT & Finance PMO
8. Ensure there should be minimum manual intervention in the GST accounting, computation and compliance and automate the processes wherever required.
9. Closely monitoring master like GL master, customer masters, supplier master, state masters, etc.
10. Reviewing agreement with customers/ vendors so that same should secure interest of company wrt to GST.
11. Provide impact analysis of GST on existing/ new business process.
12. Provide update on changes in the GST laws/ provision and making suitable changes in the system/ process/ documentation.
13. Work closely with consultants wherever need any advice or provide them appropriate details
14. Prepare and provide appropriate reply to the notices received from GST authorities and submission of required details on timely basis.
15. Preparation of appeal papers/ stay application and filing thereof wherever necessary
16. Closely work with Internal and statutory auditors for completing audit in time
17. Provide details assist to the departmental audit (service tax/ GST) and ensure to close with zero negative comments.
18. Handle and provide appropriate reply to the queries received from various stakeholders
19. Proactive in putting system/ process control to avoid corrective action at last movement.
20. Review and file GSTR-9 and GSTR-9C within due date.
21. Review and share contingent liability schedule with RBI reporting team and statutory auditors
22. Setting up GST compliance processes while setting any new company/ business vertical
23. Managing & supervising a team of 8 team members
24. Training the team on processes, systems & policies

4. MAJOR CHALLENGES
(Challenges faced on an on-going basis in carrying out the job)
Major challenges faced are from transaction processing team: -

1. Major dependency on BFL IT team for determination report. If GST report didn t get in time then it create trouble for team.
2. Non standardization in mapping of customer address/ city to correct state
3. Non updation of GSTIN against the customer/ supplier/ manufacturer in time
4. Follow up needs to be done with vendors/ business for non reflection of GST credit in GSTR 2A

 

Required Qualifications and Experience
Educational Qualifications
a) Qualifications - C.A.
b) Work Experience- 6-8 Years of experience