Mohammed Saad Parkar

Company Overview:

Bharat Petroleum Corporation Limited (BPCL) is an Indian public sector undertaking (PSU) under the ownership of the Ministry of Petroleum and Natural Gas, Government of India.

Handling profiles:

• Preparing the closing papers on a quarterly and annual basis, and thereby assisting in the compilation of the accounts.
• Liaising with the statutory auditors and CAG auditors for carrying out effective closing activities.
• Carrying out the variance analysis during the statutory audit period.
• Conducting audits of the retail outlets and ensuring the effective working of the same.
• Fortnightly carrying out the settlements for OMC transactions.
• Proper compliance with the IND AS-116, and thereby creating a liability for the same.
• Streamlining the entire process of TDS for the BPCL.

Overview:

Leading CA firm with four partners providing a plethora of services in the domain of Direct and Indirect Taxation.

• Prepared and filed 120+ income tax returns and TDS returns for a diverse range of clients, with total income ranging from INR 1 lakh to INR 10 crores.
• Drafted over 15 appeals before the Income Tax Department, including the Commissioner of Income Tax (CIT), and the Income Tax Appellate Tribunal (ITAT).
• Assisted the client in various tax planning and tax management strategies, which ultimately resulted in tax savings of approximately Rs. 1 crore.
• Filed 80+ GST returns, along with GST Annual Returns and Audit, i.e., GSTR 9 and GSTR 9C, for a diverse range of taxpayers, including a client with an aggregate turnover of more than Rs. 50 crores.
• Assisted and filed several appeals before the Commissioner of GST on various discrepancies associated with ITC and blocked credit.
• Rendering business advisory services to clients under GST laws.