Mohit Setia
Senior Consultant
PANCHKULA
Summary
Successful at managing multiple priorities with a positive attitude. Willingness to take on added responsibilities to meet team goals.
Overview
10
10
years of professional experience
14
14
years of post-secondary education
1
1
Language
Work History
Chartered Accountant
Ernst & Young LLP
04.2021
- Finance & Accounts, Auditing and Taxation
Chartered Accountants of
New Delhi
01.2008
- Accomplishments:
- Successfully managed engagements related to Indirect Tax Laws, Appeals, Tax
- Restructuring, Tax Advisory & Consultancy related to Income Tax and GST laws
- Liaised with government authorities to facilitate operations by smooth tax management for client companies
- Successfully conducted Statutory Audit and Interim Audits and Conducted Tax
- Audit for varioous Corporate and Non-Corporate Clients
- Handling CAG Audit of Service Tax and Handling various Income Tax/Service Tax
- Notices/VAT Notices
- Development of Policy Research Papers for GST, Excise, VAT and other indirect taxes administered by the Department
- Providing analytical support for drafting of policy notes for decision making on policies and assisting Department in making representations to the GST Council,
- GOMs or any other Committee etc
- Assisted in preparation of certain MIS reports for faster decision making supported with data based intelligent inputs and creating an standardized system for data driven and intelligence-based enforcements
- Providing opinion and advice to the Department on valuation and taxability of various income streams (interest,service charges, fees and commission, Gaming etc.) for representation before the GST Council
- Handling search/raids conducted on clients and conducting due diligience of clients by thoroughly examining their books of accounts
- Providing legal opinion on issues related to Income Tax, GST, VAT, TDS, examination of matters related to refund, Excise etc.
Senior Consultant
Excise & Taxation Department
10.2018 - 04.2021
- Significant Accomplishments:
- Development of Policy Research Papers for GST, Excise, VAT and other indirect taxes administered by the Govt
- Dept
- Providing analytical support for drafting of policy notes for decision making on policies and assisting Govt
- Dept
- In making representations to the GST Council, GOMs or any other Committee represented by Govt
- Dept
- Providing necessary inputs for preparation and modification of policy documents in response to and in consequence of judicial pronouncements, GST amendments, requirements of the Departments and other stakeholders, data analytics, to enhance revenue mobilization
- Conducting impact analysis of policies changes on State revenues across - Sector/Commodities, Cash Contribution, IGST
- Settlement (Prov
- Adhoc), apportionment of IGST and effect on a segment of taxpayers across specific sectors of the economy, e.g., real estate and construction, petroleum products, excise revenue from sale of alcohol, e-commerce etc
- Submitted various MIS reports by detailed scrutinizing of VAT/GST Assessments by examining Trading, P&L accounts,
- Balance Sheets, Audit Reports, Annual returns through MCA portal and others for preventing evasion of tax
- Providing legal opinion on issues related to Income Tax, GST, VAT, TDS and matters related to refund, Excise etc
- Ensuring compliance with established internal control procedures by examining records, reports, operating practices, and documentation
- Identification of doubtful taxpayers on the basis of comparing GSTR 3B, GSTR 2A, GSTR 1, Annual Returns, identifying modus operandi of various suspicious taxpayers, E-Way Bills etc
- To prevent circular trading of inadmissible ITC
- Assisting the Department in conducting search/raids through preparing such reports after conducting due diligence and proper 360 Degree analysis of taxpayers
- Conducting In-depth analysis of various reports available on BIFA, BO portal and MIS to identify tax evasion scenarios and deriving strategies and assisting the Department with measures to curb out those scenarios
- Preparation of certain MIS reports for faster decision making supported with data based intelligent inputs and creating an standardized system for data driven and intelligence-based enforcements
- Advising on matters relating to determination of Time of Supply, Place of Supply of Goods or Services or anyother Rules with respect to GST of routine nature, Assessment Proceedings / Appeals under the GST law, anti-evasion proceedings/
- Anti-profiteering, etc
- Data Management & Analytics to generate actionable intelligence for anti-evasion / investigation operations carried by the
- Department and for identifying criteria for risk based selection for GST Audits to be conducted by the Department wth tool
- Standardise business operations by preparing and Draft Standard Operating Procedures for various GST provisions and actions and various other functions such as CM Schemes, Arrear recovery etc
- Establishing & Implementation of procedures for controlling evasion of GST in the state by coordinating with various other states regarding fake/bogus inter states transactions by the dealers from within & outside the States
- Submitting various reports from time to time regarding comparison & analysis of Collection under GST & Liquor Licensees,
- Compliance of returns, identifying return defaulters, suspicious taxpayers, Analysis of Mega Taxpayers (Top 250 Taxpayers) in the State, sectoral analysis etc
- Preparation of Request for Proposal (RFP) & Assisting the Department in evaluation of bids by examining bids documents/records during tender process and provided information on financial status by preparing special MIS reports such as Project Reports, Report Comparing Actuals with the Budgeted Figures
- Monitoring compliance with GST norms, along with filing of GST returns, identifying areas of tax evasion etc and assisting the Department in audits, assessments and litigation.
Manager Taxation
A.J.K.R & Associates
08.2014 - 09.2018
- Ensuring compliance with GST norms, along with filing of GST returns, undertaking tax planning, defended audits, assessments and litigation
- Managing Scrutiny tax assessments, appeals and penalty proceedings including preparation of replies, compilation of details and appearing before authorities
- Filling e-TDS (Electronic Tax Deducted at Source), Income Tax, Service Tax, VAT returns and issuing Tax Deducted at
- Source (TDS) certificates to local as well as foreign vendors
- Representation before Income Tax Authorities and replying to Income Tax notices within the stipulated timeline
- Finalization of balance sheets along with handling statutory audit for the companies
- Compiled details and filed TDS, VAT & Service Tax returns by combiing data of various branches/organisations etc
- Prepared Balance Sheets along with management of statutory audit of Corporate & Non-Corporate Clients
- Interacted with Tax Authorities, appeared before hearings, delivered oral & written submissions
- Completed Tax Assessments (Income Tax, VAT, Service Tax, and others)
- Managed quaries of clients in adherence to Income Tax law and advised them as per law and Handling rectifications and refunds from Income Tax Department
- Helped in Compilataion of appeals up to the level of CIT (Appeals) and up to ITAT level
- Performed finalization of Income Tax, Tax Audit, TDS and assessment of Tax of Individuals, Firms & Companies
- Provided information on financial viability by preparing special reports such as Project Reports, Report Comparing Actuals with the Budgeted Figures & Share Valuation Reports
- Managed CAG Audit of Service Tax and Providing solutions on GST implementation & submission.
Article Assistant
Surender Kumar Singhal & Co
10.2008 - 04.2012
- Apra Plaza-2 M2K,
- Pitampura, Area of Exposure
- Performed finalization of Balance Sheet and Profit & Loss A/c reports in consonance with accounting standards in adherence with company law
- Successfully conducted statutory audit
- Planned and filled income tax returns & service tax returns.
Education
MBA - FINANCE
Guru Jhambeshwar University
HISAR 07.2013 - 09.2015
M.Com - COMMERCE
Maharishi Dayanand University
08.2011 - 09.2013
Bachelor of Commerce - COMMERCE
Kurukshetra University
06.2008 - 09.2011
CHARTERED ACCOUNTANCY -
INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
07.2008 - 08.2014
Skills
ERP
Worked on Analytical Tools
Change AgentCollaboratorCommunicatorMotivator PlannerAnnual reports
Budget Analysis
Financial Management
Financial records review
Accomplishments
- Assisted in implementation of Intelligence Unit for the Government Client.
- Supervised team of 15 staff members.
Timeline
Chartered Accountant
Ernst & Young LLP
04.2021
Senior Consultant
Excise & Taxation Department
10.2018 - 04.2021
Manager Taxation
A.J.K.R & Associates
08.2014 - 09.2018
MBA - FINANCE
Guru Jhambeshwar University
07.2013 - 09.2015
M.Com - COMMERCE
Maharishi Dayanand University
08.2011 - 09.2013
Article Assistant
Surender Kumar Singhal & Co
10.2008 - 04.2012
CHARTERED ACCOUNTANCY -
INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
07.2008 - 08.2014
Bachelor of Commerce - COMMERCE
Kurukshetra University
06.2008 - 09.2011
Chartered Accountants of
01.2008
Awarded as Exceptional Performer at M/s Ernst & Young
Awarded KUDOS award to show immediate appreciation and recognition of individuals or teams for exceptional contributions and customer service inside or outside of their departments by the organisation.
Awarded as Exceptional Performer at M/s Ernst & Young
Awarded KUDOS award to show immediate appreciation and recognition of individuals or teams for exceptional contributions and customer service inside or outside of their departments by the organisation.