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LexTalk World Talk Show with Abhishek Lunkad, Tax Advocate at Lunkad Kankariya and Associates

Like the quote says “A Lawyer with his briefcase can steal more than 100 men with guns”. Being, the ancestral practice and he being the third generation lawyer of Lunkad Vakil or Lunkad Kankariya & Associates, he is ready to take up the challenge and solve the issues & glitches faced by clients in the Field of Taxation.

He completed his graduation from Marathwada Mitramandal College of Commerce to move on to pursue Law and completed Law from Sinhgad Law College. He has also completed his LLM (Corporate Law) from Vishwakarma University and joined practice in the year 2019.

In his training period, he got himself well acquainted from one of the most prominent Supreme Court Lawyer Advocate Ashutosh Shrivastava to start the roller coaster ride in the field of taxation laws, since then it was never looking back for him. Now it’s been 3 years since he is advising clients on various important matters of tax laws.

Well Abhishek, is also an avid lover of Cricket and also has keen interest in reading books and gaining knowledge.


Host:- What made you pursue a career in the field of law? How is the field of law?

Abhishek:- After passing 10th I was very clear for going on in the field of commerce and as I was pursuing my graduation I tried my hand on Chartered Accountancy course as our field was clearly of taxation only, but failed miserably and the trauma of the failure was very highly affected on my performance academically which resulted in failure. But the support that my family gave me to overcome the same was exceptional my father did not stop believing in me and he boosted my spirit to maximum level. The boost that was given by him or my family made me believe to achieve something bigger and so I started reading a book of Advocate Ujjwal Nikam (Mahanayak) which boosted me to pursue the field of law with great enthusiasm. And today it’s been 3 years I am practicing in the field reasonably well. And I am quite eager as well as feeling excited learn a lot in the field of law.

Host:-How prolific is the field of tax law? Where do you find the most fulfillment of work?

Abhishek:- Well tax is one of the most underrated fields in whole legal industry but if you observe closely tax field is most complicated and can achieve great heights. Complicated to say only because tax laws are changed in form of tax rates or certain provisions are altered every year in budget. For instance, audit limit has been increased in income tax audit from Rs. 2 Crore of turnover for preceding financial year to Rs. 10 Crore in current assessment year.

So, tax laws are basically very vast in nature and many of the top lawyers like Advocate Nanoba Palkhiwala and modern-day great Advocate Harish Salve have been a keen practitioner in the field of taxation. So, tax laws field are the underrated but one of the most prolific field. When we-advice our clients on saving of taxes through various modes and measures that’s the time when I feel lucky enough to save money of client and that’s when I find that the field I have chosen is the best. The happiness that client has when his money is saved is the biggest bonus for me and my team.

Host: The revolutionary step of GST was taken in the year 2017 since then how are tax professionals approaching towards GST?

Abhishek : Well GST as they say goods and services tax implemented by the government on 1st July 2017 has definitely been a revolution to the tax field and since then whole of India is following the same practice which was not the same at the time of VAT. The hardship of practice all over the country has certainly reduced because of GST. Any new thing does have challenges along with it and I certainly like to face challenges because that makes my character tough. The vision for GST will be only that tax payers should be taken into consideration as they are the backbone for the economy so any policy framed by the government should be framed in such a way that tax payers should be willing to pay taxes and not run away from the same.

Host: In era of legal technology, what are the most commonly used tools for you?

Abhishek: Being, in the field of taxation there are lot of tools that we have to use as a team while calculating any kind of tax that has to be paid by clients and accordingly most commonly used tax tools are of the Winman Tax and gst software’s as per convenience but most importantly now a day’s organizations and companies have been using tally as their main tool for completing the accounts and on that basis the tax preparer prepares the tax returns accordingly. While attending any case we have to use manupatra and Indian Kanoon to get the results related to the issue that is raised against us.

Host: Tell us about a complex legal issue you worked on. Describe the complexity and tell us how you approached it?

Abhishek: Well speaking about complex issue legal field is always a complex field and the one obtaining immense knowledge does not care about the complexity. Similarly, we have a case of GST (Goods & Services tax) in which one of our client was asked to pay taxes at the rate of 18%. This was because he was supplying railway locomotive parts. Railway Locomotive parts have 18% tax specified by the GST authorities the same is correct but our client was supplying the same to Government of India and we were issued order invoices by the government and we were asked to charge a rate of 5% (I apologise that I made a mistake in interview for rate of 12% but actually the rate was 5%) and now we have been issued a notice by the GST authorities stating a difference of 13% has to be paid along with interest and penalty. The same matter has been fought by us in front of authorities but are not yet successful in defending. But a similar matter was heard in The Hon’ble Bombay High Court where the decision is made in our favour and the same coming in later part will be beneficial for us as we also have a same matter and we would definitely will be succeeding in defending our client and also we will be proving our points correct.

Host: Time is money in any profession and in legal it's most of all. How do you ensure to make the best of you time as a lawyer?

Abhishek : When being a lawyer you have to keep yourself updated with the ongoing happenings all over India and how the courts are functioning to bring in justice to the needy. Similarly, we as a team are focused on the issues faced by the taxpayers and we are always sending mails to the authorities to timely take the necessary action that has to be taken to solve the issue. Reading books and articles on regular basis helps to keep us updated and looking on the daily situation in pandemic gatherings have reduced and webinars are the new way of gaining knowledge that can help you keep your self-updated.


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