GST Impact: 1 lakh jobs opening in Taxation, Data Analysis, Accounting soon, suggest reports
Good news for Job Industry! Good and Services Tax Regime will open the gateway for more than 1 lakh approx jobs in Accounting, Taxation, and Data Analysis. GST will be greatest Tax Reform in the Indian economy that will impact each and every individual directly or indirectly. The area of concern is that every sector be it automobile, FMCG, Textile, and others need professionals in various segments of the economy. This implementation will be much beneficial for formal job sector attaining an annualised growth rate of 10-13 percent. Related News: GST in India: How to Register at gst.gov.in portal, Documents required and Important dates to remember for Tax payers
As per Indian Staffing Federation’s President, Rituparna Chakraborty, GST (Goods and Services Tax) will make procurement and distribution of goods much faster while cash flow is expected to become more predictable and profitability should improve, too. “All these and the transparency of compliance shall make working with unorganised players exponentially less attractive thereby pushing the country towards greater formalisation,” she added. “We are expecting an annualised growth to the tune of 10 -13 percent in formal job creation on account of GST,” Chakraborty said.
GST is expected to create significant job opportunities as the businesses will need to hire professionals for dedicated GST management, upgradation and reconciliations.”The new tax system will have a positive impact on ease of doing business, thereby making it conducive for foreign investors and companies. This would help in better execution of all government initiatives and propel formal job creation,” Monster.com’s APAC and Middle-East MD Sanjay Modi said. Sector-wise, the immediate high-impact segments of GST are expected to be automobiles, logistics, home decor, e-commerce, media and entertainment, cement, IT and ITeS, BFSI, Consumer durables, pharma and telecom.
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