- Ensuring accurate accounting as per Indian GAAP and IFRS.
- Ensuring that all reporting is made on a correct and timely basis.
- Ensuring proper compliance of Income Tax Act – Corporate and related to TDS (With holding Tax), Sales Tax laws including VAT audit, compliance of Service Tax laws.
Major Activities / Principal Accountabilities
1) Accounting :
- Ensuring that all transactions are recorded on a daily basis in the most efficient manner in Tally accounting system at present and in ERP in future.
- Preparation of Balance sheet and Profit and loss account on a monthly basis after following Indian GAAP.
- Checking of correct allocation of Cost Centre / Profit Centre codes for all transactions.
- Verification of entries for customs duty draw back and follow-up for recovery.
- Verification of correct accounting of fixed assets and WIP on an ongoing basis as per Indian GAAP and IFRS. This includes disposals too.
- Ensuring accounting of taxes and records maintenance in compliance with statutory regulations and Indian GAAP.
- Ensuring overall accuracy of estimates and provisions made for financial reporting.
- Ensuring that periodic cut off procedures are followed properly for financial reporting.
2) Finance :
- Systematic and complete compliance of all FEMA and RBI requirements.
- Providing information regarding transactions to RBI and Banks
- Recovery of dues from customers – Follow-up with Sales team and Customer Accounts dept.
3) Preparation of MIS (Reporting) :
- Preparation of P&L and BS as per IFRS on a monthly basis.
- Preparing information for Reporting and for Key Performance Indicators (KPI) files.
1) Central Sales Tax / VAT :
- Verification of monthly data for preparation of Sales Tax / VAT Returns and preparation of periodic Return.
- Liaison with consultant to ensure correctness and completeness of the Returns.
- Reconciling the figures in Sales tax Summary with Ledger Accounts.
- Preparation of various information required for personal hearings during Sales Tax assessments.
- Attendance of personal hearing for Sales Tax assessments.
- Preparation of documents for VAT audit and providing information required by the auditors for timely completion of audit
- Ensuring proper interpretation of Central Sales Tax and VAT regulations to ensure that all available benefits are availed in the interests of the company.
- Providing Central Sales Tax and VAT related guidance and interpretations to Sales and purchase departments.
2) Income Tax :
- Preparation of information for Income Tax Audit and verification of that prepared by others.
- Prepare information and filing of Corporate Income Tax return.
- Prepare various details for income tax assessment / hearings.
- Ensuring that TDS related laws are fully and correctly complied with on a timely basis
- Calculation and payment of fringe benefit tax and preparation and filling of annual return.
- Ensuring that all applicable laws regarding withholding tax are complied with.
Skills And Knowledge :
- Indian GAAP – Working knowledge
- Indian Income tax law – working knowledge
- Central Sales Act and VAT – working knowledge/Fresh
- ERP systems – Working knowledge
- Service tax Act – working knowledge / Fresh
- Banking related regulations – Reasonable level
- Other related commercial laws – Reasonable high levels.
- Basic accounting background with clear basic knowledge
Company’s Profile : Renowned German MNC, geared to start local production in india with European engineering. The new company has been headquartered in Pune and is a 100 percent subsidiary of the German MNC. This group, with 150 years experience and more than 1,000 employees worldwide is pioneer and leader in the industry and engaged in the design, manufacture, implementation and project management in the brewing industry.The course is set and the senior management are on the starting blocks. After the setting up of the company, work is now to commence on the production site in Pune. This is where stainless steel brewing vessels and tanks are to be manufactured to the accustomed and world famous quality standards. The production launch is planned for the spring of 2008. The company is offering the combination of European engineering know-how and low-cost local production”, explained Managing Director for sales and marketing of the group. For company’s customers this means state-of-the-art brewing plant technology and highest quality standards with optimized investment costs.The new company in India has already started getting orders. A very renowned group has already placed two orders with this company for the design and construction of turnkey plants in India. The new plants are planned for Sonipat, a town in the Indian state of Haryana, and near the mega-city Bengaluru (the former Bangalore). These brewing plants are designed for an annual output of around 1 million hectoliters to begin with. An expansion to 2 million hectoliters per annum each, is planned. Company which has placed order is relying on mash-filter technology in India as well and has ordered two TCM thin-layer chamber mash filters from this company. The plants are designed for 12 brews per day and 650 hl of cast wort per brew.