CA Aumkar Gadgil, Managing Partner at SG Deshpande and
Associates, Chartered Accountants, is a distinguished authority in the
financial landscape. Specialising in GST, Customs, Indirect Tax Litigation,
Advisory and Compliance services, his professional footprint extends across the
country. A seasoned leader, he has notably served as Chairman of the Thane
Branch of the WIRC of ICAI. His journey from a science student to a celebrated
Chartered Accountant, including being a featured faculty speaker on All India
Radio, reflects a career built on self-belief and a commitment to continuous
learning.
Utilising his vast expertise in taxation and consultancy,
Aumkar Gadgil addresses the historic transition from the 1961 Income Tax Act to
the 2025 Act. He emphasises that while the law has been simplified and the
number of sections reduced, taxpayers must avoid the dangerous DIY trap. “We
often see taxpayers filing returns based on YouTube videos or unverified online
tools. These non-consulted filings frequently lead to misdeclarations,
resulting in heavy penalties and the recovery of incorrect refunds years
later,” he warns. He stresses that professional, well-considered advice is a
long-term investment in legal peace of mind.
For the MSME sector, CA Aumkar Gadgil identifies cash flow
management as the primary hurdle. While GST registration is now a swift three-
to four-day process, tax deferment due to defaulting suppliers remains a
significant challenge. Drawing on his experience in indirect tax litigation, he
also issues a stern warning against cross-invoicing for non-existent
transactions. “Such practices are legally dangerous and can even lead to
permanent business closure,” he notes.
Concluding with advice for the next generation, Mr Gadgil
urges aspiring CAs to ignore the glamour and focus on fundamentals. In an era
of rapid AI growth, he believes that staying updated and maintaining
professional ethics remain the only keys to long-term success.
