Indian corporates and small businesses are busy aligning their accounting and financial processes as per the new tax regime. To ensure required compliance is followed with the right procedures, there is a huge demand for GST professionals with skills for GST implementationand to manage, upgrade and reconcile accounts.
Jobs Predicted by the Leaders
Manufacturing, consumer goods, e-commerce, automobile sectors, telecom, media, BFSI and logistics are the main industries that will need a lot of trained GST professionals.
RituparnaChakraborty, President-Indian Staffing Federationforesees an annual growth of 10-13% jobs because of GST.Sunil Goel from GlobalHunt, a leader in executive search says that GST in the first quarter post implementation will create many jobs and will keep adding more 50,000-60,000 jobs going forward. The number is huge!
It clearly shows that from employment perspective, GST has got a huge potential for students to turn into professionals. Both immediate – for implementing GST and for a long term steady need for upgradation and reconciliation.
The Available Talent Pool
No doubt we are not ready yet to fulfil the high demand of GST experts. Hence either the employers are compromising on the quality employee they are hiring and are paying a hefty salary to get the best ones from the few available in the market.
To fulfil the rising demand for GST professionals, there are many GST training coursesthat have come up. They are training hundreds of students in one class and placing a handful candidates within corporates. Unfortunately this may not go on for long as the bulk trained students miss the quality training and get trained superficially without making their concepts strong.
There is also a lot of GST material available online to read and is useful as well to an extent however a professional training to strengthen GST basic concepts is essential. With stronger concepts professionals can use GST systems in the most efficient way.
The head of the department and commerce faculty at the University of Mysore (UoM), Professor B Nagaraju, mentions that there were ample job opportunities for commerce students always. He further says, that with the new tax regime, the job openings have increased further. He shows a valid concern though, “but the key factor is the performance of students in the workplace,”.
Becoming a GST Professional – the right way
GST has opened up doors to multiple streams and professionals to get trained on. Students from commerce background, the ones preparing for CA certification and even software engineers can become GST experts as digital compliance and IT knowledge is important to use GST software.
While choosing a course for GST training it is recommended that the students follow this checklist to ensure they choose the right course –
- Check if the course is from a renowned institute.
- Note how many students will be there in each session to ensure the trainer is able to focus on each student.
- Look at the syllabus in detail and ensure concepts and basics are covered.
- Check course duration and your convenience/flexibility.
The job opportunities created by GST implementation are immense. The available open placements in almost all major sectors gives the GST skill versatility. Students and professionals need to only work towards getting them ready with the required skills and grab the opportunities. The next 5-6 years are crucial for GST to become successful and with the right skilled GST professionals this can be achieved. So get trained from recommended GST courses like RISE-India and help in making GST implementation successful.