Ashith Shetty

• Preparation of monthly financial MIS, with a detailed analysis of the balance sheet flux and P&L flux, which includes:
• i) Implementing a control check to identify errors at the initial stage.
• ii) implementing risk mitigation measures to strengthen financial processes.
• iii) Presentation to the site and corporate management.
• Monitoring the timely closure of the India site compliance and presenting the status report to the Board of Directors on a periodic basis, which includes all taxation, customs, STPI, HR, IT, and EHS.
• Leading the India Indirect Tax team (GST), responsible for compliance, advisory, and litigation, including.
• i) Timely filing of monthly and annual returns, along with the implementation of legal changes.
• ii) Reconciliation of FS expenses and revenues with the tax return.
• iii) Cost optimization plan and advisory to the business team.
• iv) Coordinating with the tax consultant and the tax department.
• Process improvement in coordination with the IT team to address the ongoing challenges to save costs and time.
• Monthly cash and expense forecast, then analyze that with the actual data.
• Liaison with statutory, internal, tax, and GST auditors.
• Working closely with business and other functional teams to ensure a smooth flow of business functions.
• Review of the financial and tax clauses during vendor or customer agreement finalization.

Financial Analysis and Reporting:

• Preparation of the consumption cost report and comparative analysis with the budgeted cost.
• Analyzing outsourced manufacturing costs with the budgeted cost.
• Preparation and analysis of monthly inventory reports.
• Preparation of the quarterly provision for non-moving inventory.
• Preparation and analysis of stock transfer statements.
• Analysis of expense GLs to confirm the accuracy of accounting.

Audit and Taxation:

• Computation of advance tax, provisional tax, and the preparation of relevant schedules for the purpose of a tax audit.
• Implementation of processes to ensure no adverse impact of GST ITC on the company’s working capital.
• Advising on the impact of changes in tax laws on business processes to the management.
• Overseeing TDS compliance, including quarterly returns.
• Monitoring GST ITC availment, GSTR 2B reconciliation actions, and ISD allocation.
• Reconciliation and analysis of ITC-04 data, and addressing the discrepancies.
• Liaison with auditors during the tax audit and GST audit (GSTR 9 and GSTR 9C).

• Preparing the balance sheet schedule for tax ledgers for financial closure, and for all audit requirements.
• Setting up the SOP to mitigate the risk of error in the filing process, simplify the existing process to save man-hours, and ensure the correctness of the data.
• In-house indirect tax advisor for the business and customer queries.
• Reviewing and finalizing various GST returns (GSTR 1, GSTR 3B, GSTR 9, GSTR 9C, and ITC 04).
• Managing tax litigation by liaising with consultants and representing before the tax authority.
• Reviewing and finalizing various reconciliations relating to revenue and expenses.

• Preparing and presenting monthly indirect tax MIS to factory controllers and the head of India.
• Preparing balance sheet schedules for tax ledgers for financial closure, and all audit requirements.
• Filing indirect tax returns like GSTR 1, GSTR 3B, ITC 04, Tans_1, and ER1 (Excise).
• Monthly reconciliation of rebate, duty drawback, and other tax receivable provisions with their receipts.
• Member of the UAT team for customizing SAP during GST migration.

• Performing an IFC audit check as per the Companies Act of 2013.

• Preparation of financial statements and handling internal, statutory, and tax audits of various corporate entities in the businesses of pharmaceuticals, real estate, automobiles, etc.