Termed as the biggest tax reform since independence, it has become crucial to understand that GST is not merely a tax change but a business change which is likely to impact various business areas such as Finance, IT, Supply Chain, HR, Marketing etc. On one side, there could be a huge impact on the supply chain, and on the other side, there may be a requirement for redeploying people and different advisors as the three taxes (Excise, Service tax and VAT) would merge into one single tax. One such foremost firm which is assisting its customers in every possible way by providing best-in-class GST services is M/S. S.K. Kanodia & Associates.
SKKA’s view on its role in the profession is that: ‘We are here to provide a comprehensive service to clients such that they can be confident and we will protect their interests. Our clients will trust us and feel they receive value and quality.’ The firm has been providing the services to a diverse clientele including manufacturing, service sector, trading, NBFC, real estate, clubs, hotels, leasing, tour operators, etc. having a presence all over the country.
The Architect of SKKA
CA Ankit Kanodia is the Managing Partner of the Indirect Tax Vertical of the firm. He is a Fellow member of the Institute of Chartered Accountants of India. He received his Bachelor’s degree in Commerce from St. Xavier’s College (Rank 12) in Kolkata. Ankit additionally received his LLB degree from Vidyasagar University with a distinction placing him in the first division and is currently pursuing his LLM at his alma mater. He is also a qualified Company Secretary and rank holder. Ankit is actively involved in advising numerous multinational clients on various aspects of their tax planning and advisory and also handles the firm’s major representational assignments before the Adjudicating Authorities & various Appellate Authorities including the CESTAT.
Ankit cleared the Certificate Course on Indirect Taxes from ICAI and is a co-opted member of IDT Committee of The Bengal Chamber of Commerce and Industry. Being immensely experienced in the field of indirect taxation, Ankit finds time to lecture professionals and corporates on this subject. Ankit has also been invited to over 100 events across India to share his knowledge about GST through lectures and is also a Certified IDT Faculty of the ICAI, New Delhi.
Ankit has authored two books on Service Tax Ready Reference and Bare Acts (Lawpoint Publications Kolkata) and also published numerous articles in various journals and magazines. He is the Editor of monthly GST bulletin GST NAVIGATOR from the house of SKKA.
An Array of Assorted Services
With its extensive research in the GST domain and an experience of over ten years in Indirect Tax, SKKA has proved to be an ideal partner in making the spotless transition through GST. The firm renders various services such as:
Review Services: A system for better tax management opportunities & potential areas of contention requiring remedial actions
Statutory Audit: Providing a fair & accurate representation of client’s financial position by all bookkeeping records & financial transactions.
Compliance & System Setting Support: Offering high-quality, flexible and cost-effective solutions in tax compliance tailored to clients’ needs.
Refund Services: Advising to clients, filing of necessary documentation, and follow up with the department to ensure that clients get the refund.
Advisory and Consultancy: Transforming its expertise to client benefit by offering pragmatic & workable solutions in the complex tax environment
Representation & Legal Support: Representing complex cases before departmental and appellate authorities by the team of experts.
Indirect Tax Training: Creating increased update and awareness about changing laws for the public at large.
Delivering Contentment with Unique Strategies
“With regards to the GST services offered by us, we work with the objective of monthly recons and verification of ITC availed by the clients on a monthly basis and we support them with various reports helping them identify the correct procedure to be followed in the law as well as mitigating the risk of litigation in all respects of the business of the client”, asserts Santosh while asked him about the technique the firm implements for client satisfaction. The firm also ensures that the client is not exposed to any unknown tax exposure during the tenure the firm is associated with them. Moreover, with its GST alerts and GST NAVIGATOR, the firm helps the client and their team to stay updated with the law and are always ready to support them in case of any need.
SKKA has a robust team of over fifteen members for the IDT matters, End-to-End Compliance matters as well as consulting and litigation. The firm had implemented GST for its pre-GST regime clients and has assisted them to make a flawless transition to the new regime. Also, the team is working as retainers for various corporates in this field offering consultancy as well as litigation advisory services.
Envisaging a Progressive Future
“Come and explore the GST practice. It’s a huge area and people providing quality services can never sit ideal in this regime. Prove that you are the best among the lot. Don’t worry about the pricing, the same would follow once you are into the system”, appeals Ankit to the budding entrepreneurs.
SKKA believes that the one who is able to guide the client through difficult interpretational issues in this regime would be the one standing out as clients are looking for advisory in the subject as the procedure can be complied with an in-house team for filing returns and payments of taxes. Nevertheless, consultants analyzing the law and drawing interpretations and fighting the cases which would come in the near future would be the ones who would stand out in the market.
SKKA is continuously evolving and serving more than 100 corporates all over India. To make significant progress, the firm is planning to further expand its team as well as its locations in the coming years.
