Prakash Ahuja
Chartered Accountant (ACA, ICWA, M.com)
Bangalore
Summary
A qualified Chartered Accountant and Cost Accountant with over 9 1/2 years of exposure to Senior roles with excellent team building and handling skillsets, expert advanced Excel knowledge, good ERP exposure. Have good amount of practical exposure in areas such as Direct & Indirect Tax Compliances (including TDS, Income Tax, VAT, Service Tax, GST), Financial reporting and Record to Report, Accounting upto finalization of books, Audit & Assurance roles as an auditor & an auditee (have experience of handling Big 4 auditors), including Statutory Audits, Internal Audits and Tax Audits
Overview
9
9
years of professional experience
14
14
years of post-secondary education
Work History
Lead Taxation
Atyati Technologies Private Limited
Bangalore
07.2020 - Current
- Proved successful working within tight deadlines and a fast-paced environment.
- Managed time efficiently in order to complete all tasks within deadlines.
- Handling day to day Record to report (R2R) activities such as Ledger Scrutiny; Accounting (including branch accounting); authorization of expenses (vendor invoices); review of prepaid expenses; review of provisions for expenses workings (Accrued expenses); variance analysis of expenses; Accounts Payables ageing & reconciliations; Maintenance of Fixed Assets Register (FAR), i.e. Fixed Assets Management (Property, Plant & Equipment i.e. PPE) activities such as accounting, reconciliation and review of month on month depreciation and closing WDV workings with books; redesign of the processes for maintenance of the FAR; physical verification of PPE; preparation of the monthly workings, review and reconciliation for fixed deposits; Inter Company entries.
- Bank Reconciliations reviews; inventory (stock) Reconciliations reviews.
- Finalization of the financials and the Annual Reports, including Cash Flow statements, Board Report, CARO Report, Corporate Social Responsibility (CSR) note, and Ratios Analysis as per the requirements of Schedule II, Schedule III and Schedule VI and the relevant IGAAP Accounting Standards.
- Undertaking finance functions such as cost benefit analysis for cash credit (bank overdraft) facility letters; cost benefit analysis for various expenses such as gratuity; preparation of monthly stock and receivables statement for submission to bankers; preparation of quarterly financials for bankers; handling bank stock audits; assisting registered valuers in making projections for shares valuations.
- Managing Direct and Indirect Tax Compliances (including Income Tax and GST) such as preparation and / or review of monthly, quarterly and annual workings, agreements (for transfer pricing), challans and returns / forms for GSTR 1, GSTR 3B, GSTR 9 and 9C, Transfer Pricing (TP) Study Reports, TP Workings and billing under Domestic Transfer Pricing, E Way bills, Lower Deduction Certificate (LDC), TDS, Withholding Tax (WHT), TDS on GST, advance tax. Building and improving processes and internal controls for efficient and smooth tax compliances. Working at an advisory role to the business / operations team for tax compliances (including GST & Income Tax Compliances). Preparation of computation of income (adjusted for 43B disallowance, deductions, exemptions and setoff and carry forward of losses) and deferred tax workings. Managing reconciliations on a regular basis such as 26AS, Input Tax Credit (ITC) Recon (GSTR 2A/2B vs books vs 3B returns). Ensuring timely filing and submission of returns / forms such as for LDC, SFT Returns, ITR, Tax Audit reports (Form 3CA, 3CD), E Way bills, GSTR 9 and 9C, SFT Filings, Form 3CEAC and Form 3CEB (under International International Taxation), GSTR 1, GSTR 3B, TDS on GST, Letter of Undertaking (LUT) for exports. Managing submissions, communications and correspondence before the officers for various audits, assessments and notices under Direct and Indirect Taxes (including service tax) and attending hearings and judicial / quasi judicial proceedings. Ensuring timely payments of taxes, accounting for tax and maintenance of tax GL. Managing Tax Audits, GST Audits, Transfer Pricing Audits. Follow up with the vendors for filing of GST returns and managing recoveries under GST for ITC losses. Follow up for tax refunds. Managing registrations under GST.
- Managing external audits such as ICFR Audits; Statutory Audits; and Internal Audits by acting as a Single Point of Contact (SPOC). Ensuring timely review and maintenance of Internal Controls over Financial Reporting (ICFR) over Financial Reporting. Coordinating with the Big 4 auditors for audit planning, process walkthroughs, finalization of the audit programme, responding to audit queries and observations as well as follow up on the same, coordinating with the auditors for the audit samples and data sharing, documentation of audit files and other documentary evidence.
Manager – Finance & Accounts
Kesari Tours Private Limited
Mumbai
11.2019 - 07.2020
- Proven ability to learn quickly and adapt to new situations.
- Identified issues, analyzed information and provided solutions to problems.
- Handling day to day Record to report (R2R) activities such as Ledger Scrutiny; authorization of expenses (vendor invoices including foreign outward remittances) and sales invoices; review of provisions for expenses and revenues workings (Accrued expenses and Accruals for Billings); review of work done by the team; variance analysis; Accounts Payables & Receivables ageing & reconciliations; Maintenance of Fixed Assets Register (FAR), i.e. Fixed Assets Management (Property, Plant & Equipment i.e. PPE) activities such as accounting, reconciliation and review of month on month depreciation and closing WDV workings with books; physical verification of PPE; review and reconciliation for fixed deposits; Bank Reconciliations reviews
- Review of the monthly TDS, Withholding Tax (WHT). GSTR 1 and GSTR 3B Workings; supporting the tax team in Tax Audits. Working at an advisory role to the business / operations team for tax compliances (including GST Compliances)
- Day to day Treasury and cash flows management functions such as cash / funds planning; authorization of bank payments; investment of surplus idle funds in FDs; maintenance of daily working capital funds & optimum utilization of funds for day to day operating activities such as vendor payments, refunds to customers, international forex payments
- Supporting the senior management team in finalization of the monthly MIS, including product wise & Category wise Sales and Gross Margin statements
- Preparation and review of workings for sales incentives.
Commercial Manager
Financeplus India Private Limited
Mumbai
02.2017 - 11.2019
- Managing Direct and Indirect Tax Compliances (including Income Tax and GST) such as preparation and / or review of monthly, quarterly and annual workings, challans and returns / forms for Service Tax (ST-3), GSTR 1, GSTR 3B, GSTR 9 and 9C.
- Working at an advisory role to the business / operations team for Service Tax and GST compliances.
- Managing reconciliations on a regular basis such as Input Tax Credit (ITC) Recon (GSTR 2A/2B vs books vs 3B returns).
- Ensuring timely filing and submission of returns / forms such as for ST-3, GSTR 9 and 9C, GSTR 1, GSTR 3B, Letter of Undertaking (LUT) for exports.
- Managing submissions, communications and correspondence before the officers for various audits, assessments and notices under Indirect Taxes (including service tax) and attending judicial / quasi judicial proceedings.
- Follow up with the department for export refunds under GST
- Ensuring timely payments of taxes, accounting for service tax and GST and maintenance of tax GL.
- Managing Service Tax Audits, GST Audits.
- Follow up with the vendors for filing of GST returns and managing recoveries under Service Tax and GST for ITC losses. Follow up for tax refunds. Managing registrations under GST.
- Preparation of MIS for GST and Service Tax
- Supporting the team in smooth transitioning to GST including filing Trans-1 and maintenance of all the documentary evidence
Assistant Finance Manager
Booker India Private Limited
Mumbai
06.2014 - 02.2017
- Handling day to day Record to report (R2R) activities such as preparation of workings for billings; billing for branch / store wise sales invoices; preparation and review of provision for revenues workings (Accruals for Billings); Accounts Receivables ageing & reconciliations; maintenance of the Terms of Trade (TOT) master, i.e. agreement master; follow up with the customers for recoveries.
- Supporting the senior management team in finalization of the monthly MIS, including product wise & Category wise Sales and Gross Margin statements; variance analysis for Sales and Gross Margins
- Managing Direct and Indirect Tax Compliances (including Income Tax and GST) such as preparation and / or review of monthly, quarterly and annual workings, challans and returns / forms for Service Tax, Works Contract Tax (WCT), VAT, LBT, TDS, Withholding Tax (WHT).
- Managing reconciliations on a regular basis such as 26AS, Input Tax Credit (ITC) Recon (Service Tax, LBT and VAT).
- Ensuring timely filing and submission of returns / forms such as for LBT, Service Tax, VAT, TDS, Form 16 / 16A.
- Managing submissions, communications and correspondence before the officers for various audits, assessments and notices under Direct and Indirect Taxes (including service tax).
- Ensuring timely payments of taxes, accounting for tax and maintenance of tax GL. Managing Tax Audits, Service Tax Audits, VAT Audits. Follow up with the vendors for filing of VAT returns and managing recoveries under VAT for ITC losses.
Education
B. Com - Commerce
N.E.S. Ratnam College of Arts Science And Commerce
Mumbai 06.2001 - 06.2004
M. Com - Accounting And Finance
Institute of Distance Education, Mumbai University
Mumbai 06.2005 - 12.2007
ICWA - Costing And Management Accounting
The Institute of Cost Accountants of India
Mumbai 12.2005 - 03.2009
CA - Accounting And Finance
The Institute of Chartered Accountants of India
Mumbai 01.2008 - 07.2013
DipIFR - Diploma in IFRS
ACCA (UK)
Mumbai 01.2023 - Current
Skills
Team Handling and Building
Currently pursuing Diploma in IFRS
Experience of working at senior roles
ERP Exposure
Direct & Indirect Tax compliances (including Income Tax, VAT, GST and Service Tax)
Record to report including Finalisation of Books, Financial Reporting, Accounting, Recon & Audits
External (Statutory) Audits, Internal Audits, ICFR (Internal Controls over Financial Reporting) Audits
Advanced Excel including Vlookup, Hlookup, Pivot Tables
MIS
Accounts Payable & Accounts Receivable
Accomplishments
- Instrumental in migrating the invoicing process to E-Invoicing by effectively coordinating with IT and Finance team and standardizing the invoice generation in required format and ensuring smooth uploading on the system
- Credited for successfully recovering the GST / VAT credit dues from vendors
- Aligned GST GL with the balances as per the GST portal
- Key role in setting-up the accounting systems for branches for inter-branch billing / cross charge
Work Availability
monday
tuesday
wednesday
thursday
friday
saturday
sunday
morning
afternoon
evening
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Quote
There is a powerful driving force inside every human being that, once unleashed, can make any vision, dream, or desire a reality.
Tony Robbins
Timeline
DipIFR - Diploma in IFRS
ACCA (UK)
01.2023 - Current
Lead Taxation
Atyati Technologies Private Limited
07.2020 - Current
Manager – Finance & Accounts
Kesari Tours Private Limited
11.2019 - 07.2020
Commercial Manager
Financeplus India Private Limited
02.2017 - 11.2019
Assistant Finance Manager
Booker India Private Limited
06.2014 - 02.2017
CA - Accounting And Finance
The Institute of Chartered Accountants of India
01.2008 - 07.2013
ICWA - Costing And Management Accounting
The Institute of Cost Accountants of India
12.2005 - 03.2009
M. Com - Accounting And Finance
Institute of Distance Education, Mumbai University
06.2005 - 12.2007
B. Com - Commerce
N.E.S. Ratnam College of Arts Science And Commerce
06.2001 - 06.2004