GST has created job opportunities for commerce grads, say experts

Prajakta Joshi
Wednesday, 5 July 2017

Pune: With the implementation of Goods and Services Tax (GST), the people with commerce background are on cloud nine, thanks to the employment opportunities the implementation of the new tax has created for them. Experts believe that there will be a huge demand for professionals in the implementation stage and the demand won’t really drop later, as the companies, big or small, will always continue to need services of GST consultants.

Pune: With the implementation of Goods and Services Tax (GST), the people with commerce background are on cloud nine, thanks to the employment opportunities the implementation of the new tax has created for them. Experts believe that there will be a huge demand for professionals in the implementation stage and the demand won’t really drop later, as the companies, big or small, will always continue to need services of GST consultants.

Rise in job opportunities
“With the implementation of GST, a new role of a GST practitioner has been created, for which anybody with a bachelors degree in commerce, an understanding of GST and knowledge of computer can register. This is a huge opportunity for everybody, including Chartered and Cost Accountants (CAs), Company Secretaries (CS) and even graduates and post-graduates in commerce,” said Makarand Lele, Vice-President, Institute of Company Secretaries of India (ICSI), Pune.

He further added, “Big as well as small companies will need to employ people for GST registration, filing returns, doing clients’ calculations and many more. After all this is done, many people will be required for consultation and guidance.”

Aman Rajabali of National Human Resource Development (NHRD) Network, Pune Chapter said that the implementation of GST has presently led to an increase in the employment by around 10-14 per cent.

Golden opportunity for freelancers
“Some big organisations may not want to employ new people full time for the implementation of GST law, and instead would prefer hiring people for a few months until the work is done. In such cases, they may prefer employing freelancers to suffice their needs,” said Rajabali.

Narhar Nimkar, a practicing Certified Management Accountant (CMA) said, “It will not be possible for busy CAs and other professionals to leave all their work behind for each and every query related to the GST. So for all other basic work, companies may just hire freelancers.”

A long term opportunity
“GST will be here for a long time and people will continue to need guidance from GST consultants. Thus, after the scope of GST expands, there will be even a greater opportunity for employment,” Nimkar added.
Lele said, “Earlier, companies employed consultants for VAT, excise and all other taxes. Now, they will need people for GST considering the number of returns the companies need to file.”

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