About Ajit Karnik
Ajit Karnik is based in Mumbai, India. Ajit studied Bachelor of Commerce (Accounts and Finance) at K P B Hinduja College of Commerce and Economics (1981-1985). Ajit lists talents in Strategic Thinking, Team Leadership, Accounting and Advisory.
Talents
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Strategic Thinking... among ... users in Mumbai…among … users worldwide -
Team Leadership... among ... users in Mumbai…among … users worldwide -
Accounting... among ... users in Mumbai…among … users worldwide -
Advisory... among ... users in Mumbai…among … users worldwide
Professional Path
Sr Manager - Indirect taxes
Lanxess India P Ltd.
Full Time
Mar-2007 To
Apr-2016
9 years 1 months
- ? Leading the process of providing guidance & solutions on issues related to Indirect Taxation to the CFO, BU Heads , Logistics & Supply chain function & IT department
? Accountable for evaluating and strategizing transactions from tax planning to its implementation
? Achieving 100% compliant EA 2000 & CERA audits conducted by the Govt. department and representing the Company before the authorities in case of any disagreement with the auditors
? Coordinating with the concerned teams for addressing Direct tax function on issues related to transfer pricing between the parent company abroad & the company in India
? Supervising the team for preparing replies to the queries, letters, notices issued to the company by the Tax authorities and appearing before adjudicating and appellate authorities in case of show cause notices and appeals filed. - A) Advise provided to the CFO & Executive Director while acquisition of two factories of the competitor having business of Rs. 400 crores per annum.
B) Set clear procedures & business rules which enabled the Company to meet statutory compliance which helped in achieving 100% compliant EA 2000 & CERA audits conducted by the Govt. department by effectively representing & projecting my Company’s legal credentials in-spite of there being initial disagreement with the auditors .
C) Strategic planning in respect of Excise & Service tax issues & smooth relocation of our Thane plant to Jhagadia , Gujarat , with NIL audit objections due to absolute legal compliances .
D) Setting up of new plant at Jhagadia, Gujarat & availing the maximum possible Tax benefit in respect of Excise & service tax , with minimum procedural compliance , thus making the job simple for the operational persons , thus benefiting the organistion.
E) Smooth closure of troublesome Madurai plant .
Qualifications
K P B Hinduja College of Commerce and Economics
Bachelor of Commerce Accounts and Finance
1981-1985
-%
My Story
? A seasoned professional with over 3 decades of commendable success in Indirect Taxation Management, Business Optimization, Strategic Planning and Resource Optimization.
? Associated with M/s. Lanxess India P. Ltd. at its Head office at Thane as Sr. Manager – Indirect Taxes.
? Proven expertise in managing due diligence on Excise & Service tax front prior to acquisition of two factories of the competitors
? Skilled in identifying the indirect tax liabilities in business proposals .
? Associated with M/s. Lanxess India P. Ltd. at its Head office at Thane as Sr. Manager – Indirect Taxes.
? Proven expertise in managing due diligence on Excise & Service tax front prior to acquisition of two factories of the competitors
? Skilled in identifying the indirect tax liabilities in business proposals .
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