Deputy Manager Finance and Taxation
Takeda · Mumbai
Job Description
Responsibilities: Compliance with all Indirect Tax and Direct Taxes:
A. GST / Indirect Tax Compliance and Operations
- Independently manage end-to-end compliance under the GST law including CGST, SGST, IGST, and cess, as applicable.
- Compute monthly GST liability on all outward supplies,
- Ensure timely preparation and payment of:
- GST outward liability,
- RCM liability under reverse charge,
- Prepare and file GSTR-1 for monthly outward supply reporting.
- Prepare and file GSTR-3B after reconciliation of output tax, input tax credit, reverse charge, and tax payments.
- Maintain and review Input Tax Credit (ITC) register and ensure accurate availment as per GST law.
- Reconcile vendor invoices reflected in GSTR-2B with purchase register and ITC ledger.
- Identify ineligible, blocked, reversed, or disputed ITC and ensure compliance with reversal provisions.
- Track and resolve mismatches between books of accounts, purchase register, GSTR-2B, GSTR-1, and GSTR-3B.
- Ensure compliance for Reverse Charge Mechanism (RCM) transactions, including monthly review, liability computation, payment, and reporting.
- Review and verify job work statements and ensure timely filing of ITC-04 as applicable.
- Handle GST refunds in timely manner,
- Prepare and file annual GST compliance statements:
- GSTR-9,
- GSTR-9C.
- Perform financial reconciliation of GST returns with trial balance, general ledger, sales register, purchase register, and tax payment records.
- Review GST liability and ITC general ledger accounts on a monthly basis and pass corrective accounting entries, if needed.
- Support GST classification, valuation, place of supply, time of supply, and rate applicability reviews.
- Ensure proper treatment of credit notes, debit notes, discounts, freight, and other taxable adjustments.
- Monitor amendments in GST law, notifications, circulars, advance rulings, and judicial decisions.
- Deemed export return filing and coordination for refund.
- Handle legacy litigation cases related to Maharashtra Value Added Tax, Navi Mumbai Municipal Cess, Local Body Tax.
B. Reconciliations and General Ledger Scrutiny
- Scrutinize all GST and direct tax related general ledger accounts on a monthly basis.
- Reconcile:
- GST liability ledger,
- ITC ledger,
- output tax accounts,
- RCM liability accounts,
- TDS/TCS payable accounts,
- tax provision accounts,
- refund receivable accounts.
- Ensure monthly accounting entries are aligned with statutory return filings and payment challans.
- Identify and resolve discrepancies arising from:
- timing differences,
- invoice booking delays,
- vendor mismatches,
- return filing differences,
- incorrect tax codes,
- accounting errors.
- Coordinate with Accounts Payable, Accounts Receivable, Logistics, Procurement, and Plant/Operations teams for data validation.
C. Direct Tax Compliance
- Manage complete compliance under the Income-tax Act, 1961 and Income-tax Act, 2025.
- Compute and monitor advance tax liability on a quarterly basis based on projected taxable income, MAT/AMT applicability, and deferred tax considerations where relevant.
- Ensure timely payment of advance tax, self-assessment tax and other tax liabilities.
- Review and finalize annual income tax provision / tax liability working in coordination with Finance Head.
- Review and finalise the annual deferred tax provisions in coordination with Finance Head.
- Prepare and file Income-tax Return (ITR).
- Coordinate and support tax audit proceedings, including preparation of Form 3CA/3CB and Form 3CD, as applicable.
- Prepare and review tax schedules, annexures, and reconciliations required for return filing and audit.
- Monitor TDS compliance under all relevant sections of the Income-tax Act:
- deduction at appropriate rates,
- deposit within prescribed timelines,
- filing of quarterly TDS returns,
- generation and issuance of TDS certificates.
- Handle TCS compliance, where applicable, including deduction, payment, return filing, and certificate issuance.
- Reconcile TDS/TCS books with statutory returns, challans, and Form 26AS/AIS/TIS data.
- Ensure timely resolution of any short deduction, short payment, or mismatches.
- Track notices, intimations, and communications from the Income-tax Department and prepare responses within due dates.
- Prepare and respond to assessments, reassessments, scrutiny, rectifications, appeals, and other proceedings.
- Coordinate with tax consultants and auditors for litigation and compliance support.
- Maintain robust documentation for tax positions, assumptions, and supporting calculations.
- Monitor changes in tax laws, circulars, notifications, and judicial pronouncements impacting the company.
D. Transfer Pricing Compliance
- Manage and coordinate compliance under the Indian Transfer Pricing regulations for international transactions and specified domestic transactions.
- Identify and review all associated enterprise transactions including purchase of goods, sale of goods, services, reimbursements, cost allocations, and any other cross-border dealings.
- Ensure maintenance and review of contemporaneous transfer pricing documentation as required under the Income-tax Act.
- Coordinate with external transfer pricing consultants for benchmarking analysis, selection and application of the most appropriate method, preparation of the transfer pricing study report, documentation support, annual compliance review.
- Preparation and filing of Form 3CEB along with the tax audit report, where applicable.
- Ensure timely and accurate disclosure of international transactions and related party dealings in statutory filings.
- Review transfer pricing positions for compliance with the arm’s length principle.
- Provide response to transfer pricing notices, assessments, queries, and audits issued by the Income-tax Department or Transfer Pricing Officer.
- Work with business and finance teams to collect transaction data, agreements, invoices, cost sheets, allocation keys, and supporting evidence for transfer pricing analysis.
- Reconcile transfer pricing workings with financial accounts, intercompany ledgers, and tax records.
- Support adjustments, if any, arising from transfer pricing review or assessment proceedings.
- Monitor changes in transfer pricing law, rules, notifications, judicial precedents, and OECD-related guidance that may impact the company.
E. Audit, Assessment, and Departmental Representation
- Coordinate with statutory auditors, tax auditors, transfer pricing auditors and internal auditors to ensure timely completion of audits.
- Prepare audit support files, reconciliations, working papers, and explanations for audit queries.
- Review audit observations and drive closure through internal discussion and documentation. Coordinate with GST and Income-tax authorities for notices, summons, inquiries, assessments, audit proceedings, demand proceedings, rectifications.
- Prepare submissions, reconciliations, and factual responses to departmental queries.
- Support hearings and follow-up with tax officers and consultants until matters are concluded.
- Maintain status trackers for audits, assessments, litigation, demands, and refunds.
F. Tax Planning, Controls, and Advisory Support
- Support tax-efficient planning within the framework of Indian tax laws.
- Assist in evaluating tax impact of business transactions, contracts, vendor terms, and supply chain changes.
- Review tax implications of:
- sale of assets,
- import/export transactions,
- job work arrangements,
- service procurements,
- capital purchases,
- employee-related tax recoveries, where applicable.
- Recommend process improvements to strengthen compliance and reduce tax exposure.
- Develop and maintain internal controls and SOPs for tax compliance.
- Train internal teams on tax documentation, invoice accuracy, and statutory requirements.
- Ensure proper record retention and document management for statutory and audit purposes.