Grasim is a listed company on National Stock Exchange of India and Bombay Stock Exchange (NSE & BSE) and it is one of Fortune 500 Company, which requires stringent financial disclosures and governance discipline. The Paint business is a new business vertical of Grasim, which is being set-up from scratch with 6 green-field projects in Phase 1 and another 3 green-field projects planned in Phase 2 with a huge investment of ~Rs. 10,600 Cr in Phase 1 and Rs. 5,000 Cr in Phase 2. This requires setting-up of sound tax compliance systems and processes from the beginning itself to lay a strong foundation of efficient tax practices and effective internal control systems.
Major challenges in the job are:
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To keep self and team updated in view of the fast changing requirements of indirect taxes as well as multiple interpretation.
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Development & Implementation of systems, processes and SOP’s in a new business.
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Ensuring that tax returns are prepared accurately and filed on the due date to ensure that no tax litigation is faced by the business
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Coordination with tax officials and consultants located on PAN India basis.
