PNJ Legal: A Platform Delivering Best-in-Class Legal Solutions

PNJ Legal

In today’s GST affected world, the need for understanding the law and other taxation related concerns has been increased. To resolve this issue, various eminent law consultants are coming forward with their distinctive solutions as well as services. One such law firm which is spearheading the industry with its diverse and unique ‘legal’ solutions is PNJ Legal. The company has a large spectrum of legal services delivering to clients.
In the Interview with Insights Success, Paras Mittal, the Managing Partner at PNJ Legal has elaborated the most-sought after concept of GST along with the other exclusive services the company offers to its customers.

  1. Brief us about your company?

PNJ Professionals Network Joint is aggregation platform of professionals into field of merger acquisition, legal dispute, corporate governance, real estate advisory and taxation especially GST.

This venture is bringing new revolution in service delivery with patent applied process and features like chat with experts, C-suite hiring, E-certification programs, Office space sharing and Discussion forum. So, you can chat with GST experts for five to ten min and get resolved all your technical queries.
Venture is already live and provides life time business opportunity to freelancers and entrants in professional industry. Franchisee, business association, vendor system, client referral system, everything is there on the portal.

  1. Tell us something about the Founder/CEO/MD of your company.

Paras Mittal (ACA,ACS,NCFM)
He is a member of Institute of Chartered Accountant and Company Secretary. He is having vast experience in the fields of Legal, Tax, Audit, Finance and Corporate Governance of over 14 years.
He served various Multinational companies like Intercontinental Hotels Group, Hilton Hotel Management Services, Chaudhary Group and Galaxy commercial in the past in capacity of Finance and legal head.
His last corporate assignment before venturing into PNJ Group was Head of corporate affairs for Chaudhary Group with USD 3.2 billion dollar turnover.
He was looking over six departments with team more than of 50 members across 8 countries and 10 business verticals.

  1. What kind of unique tax-related services and solutions does your company offer?

We dealt in tax audit, internal audit, and statutory audit of various large and medium scaled companies.
We consults multinational companies on preparing budget and SOX compliance reports, transfer pricing study and capital commitments reports.
We may prove costly to small entrepreneur or startup but at end of day, accountability is what lies on us. We are not compromising quality on the quantity or cost.

  1. What according to you has been impacting the Indian economy? How GST is contributing to the Indian Economy?

From the viewpoint of the consumer, they would now have to pay more tax for most of the goods and services they consume. The majority of everyday consumables now draw the same or a slightly higher rate of tax. Furthermore, the GST implementation has a cost of compliance attached to it. It seems that this cost of compliance will be prohibitive and high for the small scale manufacturers and traders, who have also protested against the same. They may end up pricing their goods at higher rates.
Benefits of GST to the Indian Economy

  • Removal of bundled indirect taxes such as VAT, CST, Service tax, CAD, SAD, and Excise.
  • Less tax compliance and a simplified tax policy compared to current tax structure.
  • Reduction of manufacturing costs due to lower burden of taxes on the manufacturing sector. Hence prices of consumer goods will be likely to come down.
  • Lower the burden on the common man i.e. public will have to shed less money to buy the same products that were costly earlier.
  1. Where is your company heading? How well is your company benefiting your clients in this GST-affected era?

We offer unique features like office space sharing, chat with expert, csuite hiring which help small entrepreneurs a lot as overall networking benefit.
First time, any portal is coming up with the feature of restoration of client service from the point of dispute or conflict. No ecommerce portal can guarantee that unless holds specialization in the field of service.
Further, we are also giving option to vendor to discontinue from the assignment; again this feature is first time in world.
We are dealing with the companies where there are exports and most of consultants advised to pay GST tax and claim refund which is very difficult task. We advised our client to apply LUT and export without payment of GST. You might got slight operational delay in taking LUT but it will fix your tension for the year.
We are dealing for the companies where there are so many unregistered purchases, for those inputs to be reversed; we take care of accounting systems to adapt and in line with those unregistered purchases.
We are dealing for the companies GST monthly audit, we have exhaustive format and checklist which we used to audit the clients data every month. Since, most of the details on the input bifurcation as per HSN code and unit wise, we advised our client much before to prepare the input data in same way.

  1. What major challenges have you faced while starting the company? How have you managed to overcome them?

Major challenge is user acceptability and funds. We worked on seed funding and somehow managed to make the portal live with own funds and now need funding and investors to take it to new heights. Initially we are getting very few queries on GST and now we are working good and getting good clients.
Another challenge is technology, as we got cheated thrice before getting good vendor and making the portal live.

  1. What distinctive strategies/techniques do you follow to provide the best-class GST services to your clients?

We continuously update and train ourselves and team on various aspects of GST and its amendments by attending various seminars conducted by Institute of chartered accountants and Institute of Company secretaries.
We also try to empanel more and more GST experts on our system so that they can provide expert services at reasonable cost at comfort of their home as it is total digital monitored online.

  1. What advice would you give to the budding and young entrepreneurs in the current GST-driven market?
  • Assess and understand GST impact on each aspect of your business
  • Make use of the Input Tax Credit (ITC). With both services and goods being eligible for ITC and elimination of ambiguity, profitability can be improved once you understand ITC.
  • Compliance with ITC requirements, maintaining relevant records and filing returns by suppliers/vendors is essential since a mismatch can result in reversal/rejection of input tax claim on supplies.
  • In the long run, this will streamline and increase the efficiency of the supply chain. Get your vendors/suppliers also on-board.
  • Treatment of advance payments received, if any, has to be strictly as per contractual terms.
  • Streamline and improve the efficiency of the delivery system and logistics. Switchover to the e-way bill will further improve the transportation and delivery systems
  1. Please share with us your awards and achievements along with the most remarkable customer experience.

Since the venture is driven by Paras Mittal, we would like to highlight his achievement which is also an achievement of the portal.
Got opportunity to be awarded as HR Leader for the year 2017. Got opportunity to be awarded as Banking financial services Insurance for the year 2017. Got award of Banking financial services Insurance for the year 2018.Completed book for publishing on real estate advisory. Completed book for publishing on corporate governance. Got patent published on ecommerce service delivery method of services for third party opposition. Launched India’s First you tube channel dealing for videos on complex legal topics for better understanding.

  1. What will be the future of GST Consultants according to you? Also, share with us the future plans of your company.

GST will help small scale freelancers as the turnover limit for registration has been increased to Rs 20 lakh (except for north-eastern states). Freelancers, earning an average of Rs 15 lakh, were liable to register and pay service tax of Rs 2.25 lakh (@ 15 percent) including the Swachh Bharat Cess (SBC) and Krishi Kalyan Cess (KKC) under the earlier laws will not have to register under GST if they are not providing their services online.
We are looking at funding to make the portal more visible and empanel more vendors and provide the client services at more reasonable cost. We also need to include informative section on the website and very soon looking to launch mobile application too.

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