Ankur Jain

Partner

Professional Qualification – B.Com (Hons.), C.A, Certified Privacy Professional accorded by the Data Security Council of India
Professional Experience – Ankur has more than 19 years of post-qualification experience in tax compliances, policy advocacy, litigation and consultancy space spanning across industries in Indirect Taxes

VAT and GST Implementation for businesses

• Ankur has handled five waves of indirect tax changes for various multinational companies in across sectors:
• From General Sales Tax to VAT between years 2002-2006 in India.
• During the introduction of GST in India in the year 2017.
• During the introduction of VAT in the UAE.
• During the introduction of VAT in Bahrain.
• During the introduction of VAT in Oman.
• Such VAT/GST implementation assignments included:
• Determining the financial impact of GST on businesses.
• Review of operating models to assess tax optimization avenues.
• Review of contracts, ERP, business processes to recommend changes required from VAT/GST perspective.

Representation to the Government:

• Providing assistance in preparing and filing representations before various State VAT Authorities in India for clarifications on interpretational issues on entry for Information Technology Products.
• Worked closely with the team for assisting the Delhi State Governments in transitioning from the sales tax regime to the VAT regime. This project was headed by Mr. Satya Poddar, an eminent indirect tax expert of international repute.

Due Diligence and Advisory Services

• Carried out a detailed indirect tax due diligence exercise for many multinational companies in GCC and India which involved reviewing their existing practices, identifying potential revenue and tax leakages in their existing structure specifically from a VAT perspective, interacting with their personnel and then recommending tax-efficient practices, mitigating tax liability, etc., and preparing a presentation and executive summary for the top management.
• Involved in rendering opinions on a range of indirect tax technical issues like tax restructuring, VAT credits, product classifications, structuring of import transactions, structuring of business operations, applicability of various indirect taxes primarily GST, VAT, Service Tax, Works Contract Tax, Entry Tax. While rendering Indirect Tax advisory services he:
• Drafted detailed opinions, devised tax-efficient models from an Indirect Tax perspective.
• Have drafted detailed opinions on appropriate classification of goods from a VAT perspective.
• Have advised foreign companies for devising strategies to optimize the indirect taxes to enter the India and the UAE markets. This has involved meeting with the clients and assisting them in day-to-day indirect tax matters starting from obtaining registration, suggesting changes in their IT systems, indirect tax implications on their business models, routine operational issues, etc.

Tax Compliance and Litigation

• Carried out a detailed VAT compliance review for various business units involving review of meeting with personnel of each business unit, understanding the business models, examining the veracity of tax positions taken by the Company, preparing a presentation and executive summary for the top management.
• Actively involved in handling assignments relating refund of Special Additional Duty of Customs (‘SAD’) at various ports in India involving assisting the companies in collation and review of data, preparation of data working sheets, preparation of refund applications, and liaising with the Customs authorities, etc. The same also involved meetings with the senior Customs officials to discuss the various procedural and operational issues regarding the SAD refund.
• Drafted numerous appeals relating to various sales tax/ VAT matters and writ petitions in High Court in respect of issue relating to classification of goods, complicated tax issues.
• Actively involved in independent handholding and supporting operational staff for undertaking PAN India compliances of a number of companies involving tax registration, assessment proceedings, preparation and filing of returns, TDS compliances on across various States in India.

Data Protection and Privacy

• Conducted multiple camps for enhancing public awareness on Data Protection and Privacy laws.
• Advising companies on the implications under the Information Technology Act, 2000 and draft Data Protection Bill.
• Online webinars on Data Protection and Privacy laws with several branches of ICAI.

Tax Tools/ Engines

• Planned and executed a tax engine (www.gstimpact.com) for determining online the impact of VAT on various businesses. This involved creating online tools for generating an automated report for highlighting the impact of GST on various aspects of business.

Academic Highlights

• Speaker in numerous events on VAT in the UAE, Bahrain, Oman, Qatar including events hosted by the Dubai Chamber of Commerce, UAE Shipping Association, and other organizations.
• Written numerous articles that have been published in journals and websites.
• Invited by the ICAI and CII to speak on GST and indirect tax issues.