GST Compliance Role - Footwear & Apparel Business

GST Compliance

Job Description:

We are hiring for one of our client who is one of the trending footwear and apparel business as based in more than 50 countries and regions around the world.

ONLY MALE CANDIDATE PREFFERED

Work Location: Guragon (WFO)

Salary : 15 LPA

Education: CA/CS/ MBA - Finance (Or any relevant degree)

GST Output Compliance:

A. Monthly GSTR-1 and 3B Compliance:

- Prepare reconciliation of E-invoicing and E-credit Note entered in Books of accounts v/s GST portal and make correction either in books or at GST portal.

- Ensure reporting of E-invoicing and E-credit notes shall be within the week time as per the GST guidelines.

- Ensure GST category mentioned over the invoice as per the GST provisions only and accordingly ask to respective department to do necessary corrections.

- Prepare Data extract from books of accounts in the format required for GSTR-1 return filing purpose and send to the Consultant for the review and Finalize data with the help of consultant and then file the GSTR-1 return on the monthly basis.

- Customer queries relate to GST, resolved with the relevant GST provisions and rules explanations.

- Booking of GST loss for ineligible credit notes as per the GST provisions.

- Ensure filing of GSTR-1 as per the books of accounts.

B. Annual GST Return:

- Prepare reconciliation of GSTR-1 v/s GSTR 3B v/s Books and for the differential liability pay through DRC-03 challan and accordingly report in GSTR-9

- HSN data preparation the format requires for filing of GSTR-9.

- Prepare rate wise and categorywise data for filing of GSTR-9C.

- Data Finalization for filing of annual return with the help of consultant.

C. GST Assessment:

- Prepare complete GST data for three States: Maharashtra, Haryana, and West Bengal according to GST authorities' requirement.

- GST data share with consultant for review purpose and do the necessary changes according to consultant requirement for finalization of data to further submission with the GST department or authorities.

GST Input Compliance:

A. Monthly GSTR-3B Compliance:

- Mail to Consultant for advisory in respect to check applicability of GST provision and accordingly treatment of the same while booking of expense in books of accounts.

- Extract the monthly GST report and Ledgers for preparation of GST Input Data in format required as per GSTR-3B.

- Do the necessary changes in the report and ledger like Bifurcation of Taxes between IGST, CGST and SGST along with bifurcation in Customs and Other Input category for filing of GST return with the accuracy.

- Review of GST category according to vendor bills for finalization of input data.

- Preparation of AP Ageing from the Invoice date for checking if there is any invoice past due more than 180 days.

- Sharing the GST Input Data along with AP Ageing and Trial Balance with the Consultant.

- Extract 2B from the GST portal and prepare reconciliation by following below steps:

- By doing necessary modification in that for Invoice No., Amendment cases and Credit Notes with books of accounts mapping with vendor GSTIN and invoice no.

- Finding out the discrepancies in the cases where GST amount is mismatched and not as per books.

- Finding out unreported cases as on date and share the same with team members for checking with the vendors.

- Reconciliation of 2B entries with books entries based on vendor GSTIN and Invoice No.

- Put remarks in front of every line item in 2B for mismatch cases.

- Compare the 2B recon prepared by consultant for finalization of Input of current month.

- Prepare the current month 2B recon for reporting purpose in 3B as per the new notification came in Sept-22.

- Bifurcate the reversal amount of Input in Temporary and Permanent.

-Bifurcate the current month Input amount in two parts - amount taken from current month 2B and taken from previous months 2B's.

- Preparation of ECL recon with the balance of Input lying in books at the end of month.

- Monthly preparation of RCM with RCM invoice series and payment series.

- Finalization of working of GST Loss on sale of assets.

- Compilation of Data for GST reversal with respect to goods given for Marketing Purposes, Customer Shortages, Defective and Discarded goods on the basis of email and communication with respective person and Logistics teams.

B. Annual GSTR Return:

- Prepare reconciliation of GSTR-3B v/s books of accounts and do the necessary changes and make reporting in GSTR-9 accordingly.

- Prepare data for all three states: - Maharashtra, Haryana, and West Bengal according to the requirement.

- Prepare HSN wise GST input data and expense wise matching with audited financials.

GST Data for Tax Audit Report and GST Assessment:

- Preparation of GST input data for clause-14, clause-27, clause-35.

- Preparation of GST output data for clause -14.

- Prepare complete GST data for three States: - Maharashtra, Haryana, and West Bengal according to GST authorities' requirement.

- GST data share with consultant for review purpose and do the necessary changes according to consultant requirement for finalization of data to further submission with the GST department or authorities.

TDS Monthly, Quarterly and Annual Compliance:

Monthly Preparation of Data:

- Extract the TDS Ledger from the Balance Sheet and Cross check the TDS amount with the expense report and calculating threshold under section 194 Q and under section 197 regarding the TDS Lower deduction certificates.

- Passing reversal entries regarding bills for which TDS was earlier deducted on Advance.

- Ensure rates and deduction of tax according to PAN (Individual/Company).

- Finalization of data with the help of consultant and deposit TDS with Government within stipulated timeline.

TDS Return Filing (Quarterly):

- Prepare TDS sheet for filing of quarterly TDS Return with the requisite information like challan details, Vendor details, expense amount details.

- Clubbing the TDS data for the quarter along with the challans of the quarter and then sending it to the consultant.

- Finalization of data with the help of consultant for filing of TDS return on quarterly basis.

- Downloading of Form 16 A and getting them circulated to the respective PIC.

- Reconciliation of books v/s TDS Return and ask consultant to do necessary changes.

For Section 194 R:

- Using the data prepared by AR team (COGS to marketing) and preparing the data with the help of mails received during the month.

- For Store pickup, data shall be prepared from following: -

a. From the mails received from the respective person of the department.

b. Credit notes entered by the AR team.

c. Data received from the partners.

d. Every month, follow up with the mail sent to different partners regarding the store pickups.

- Follow up regarding the goods send on return basis and approval from the respective department.

- Entry in the system regarding section 194 R TDS entries.

TDS Data for Statutory and Tax Audit Purpose:

- Preparation of TDS reconciliation books v/s return and balances coming in balance sheet.

- Prepare sheet for statutory dues payable as per the audit entries.

- Prepare data for section 34A, 34B, 34C as required to report in Tax Audit report.

TCS Monthly, Quarterly Compliance:

- Get declaration from the customer for checking the applicability of TCS.

- Preparing the TCS applicability sheet as per the declarations received from the customers.

- Extract AR Ageing of preceding month and AR Register of current month.

- Making changes in the AR Ageing and Register for preparing the monthly TCS data.

- Extract payment transactions of current month for preparing the details of customer wise monthly payments.

- Preparing of final sheet for liability based on above data.

- Preparing of Quarterly Data for filing of TCS return and follow up with the consultant for finalization and filing of the same.