We are looking for a highly motivated and experienced Accountant to manage GST (Goods and Services Tax) and TDS (Tax Deducted at Source) compliance for our real estate operations. The ideal candidate will have expertise in real estate transactions and the specific tax implications related to GST and TDS in the real estate sector. This role requires accuracy, attention to detail, and the ability to handle multiple tasks while ensuring compliance with all tax-related obligations.

Key Responsibilities:

1. GST Compliance (Real Estate Focus):

• GST on Sale of Property: Ensure proper calculation, collection, and remittance of GST on residential/commercial property sales as per current real estate tax laws.
• GST on Purchase and Construction: Manage the GST compliance for inputs, including procurement of materials, labor charges, and other services related to property development or renovation.
• GST Return Filing: Prepare and file monthly/quarterly GST returns (GSTR-1, GSTR-3B, GSTR-9, etc.) specific to real estate transactions.
• GST Reconciliation: Reconcile GST paid on purchases and received on sales, ensuring proper input tax credit (ITC) claims are made and verified against vendor and customer invoices.
• Real Estate Exemptions: Stay updated on exemptions available under GST for specific real estate activities (e.g., affordable housing) and apply them as per the law.
• GST Audit & Assessments: Assist with internal and external audits, ensuring all GST documentation is maintained in compliance with legal requirements.

1. TDS Compliance (Real Estate Transactions):

• TDS on Payments: Deduct and remit TDS on applicable real estate transactions such as payments to contractors, professional services (e.g., legal, architectural), and rent payments, as per Income Tax Act guidelines.
• TDS Returns Filing: Prepare and file quarterly TDS returns (Form 24Q, 26Q) in compliance with tax laws, ensuring timely payments and deductions.
• TDS Certificates: Issue TDS certificates (Form 16A) to contractors, vendors, and consultants for the TDS deducted on payments.
• Reconciliation of TDS: Reconcile TDS payments with Form 26AS and ensure that TDS credits are reflected in the books of accounts.
• Handling TDS Notices: Address any TDS-related notices and rectifications from the Income Tax Department, ensuring timely response and compliance.

1. Accounting and Record Keeping:

• Maintain Accounts: Ensure accurate recording of all real estate transactions, including sales, purchases, expenses, and tax payments, in the general ledger.
• Property Transactions: Manage the accounting for the sale and purchase of property, including maintaining proper documentation and tracking of advances, payments, and expenses.
• Contractor Payments: Oversee payments to contractors and ensure that all vendor contracts reflect TDS and GST compliance.
• Fixed Asset Accounting: Track and account for property, plant, and equipment (PPE) related to real estate development projects, including capitalization of construction costs and other related expenses.

1. Tax Audits and Legal Compliance:

• Preparation for Audits: Assist with the preparation of tax audits by providing necessary financial documentation and explanations for real estate-related transactions, including GST and TDS matters.
• Government Filings: Ensure timely filing of GST and TDS returns and compliance with other regulatory requirements such as labor laws, property tax filings, etc.

1. Vendor Management:

• Vendor Documentation: Maintain proper vendor documentation, including TDS certificates, GST invoices, contracts, and agreements for auditing and compliance purposes.
• Vendor Payments: Verify GST and TDS deductions on vendor payments to ensure that all legal requirements are met before making payments.

1. Reporting and Analysis:

• GST/TDS Reporting: Provide monthly, quarterly, and annual reports on GST and TDS transactions to management, highlighting key compliance issues and opportunities for tax planning.
• Financial Reporting: Assist in the preparation of financial statements for the real estate company, ensuring that all GST and TDS impacts are accurately reflected in the company’s financial position.

Please share profiles to :: hr@sarkprojects.in