The introduction of GST has also led to the advent of proactive measures, but the job market is gradually moving with an upward trend. No wonder you will come across plenty of consulting services reaching out to help businesses to adapt to the new tax regime. Not only will the implementation work in favor of different industries, but also change the way of doing business in this country. According to the prediction of the hirers, there is likely to be a 10 to 11 percent rise in hiring new employees across different sectors.
With the uniformity in the tax structure that GST promises to bring, it is definitely going to boost the creation of new jobs. The efficiency of this tax structure is going to witness an extension of services ushering in, with different product ranges and capacities resulting in the requirement of manpower. What lies beneath the requirement is proper training and education. Quite naturally, there is a stronger focus on training and certification for acquiring the skills needed to understand and work with this new system of taxation.
● Taking the courses
Several people interested to make the most of this new job hype are professionals such as company secretaries, Chartered Accountants, and graduates in the hope of becoming GST consultants India to offer service to the businesses that need to adapt themselves to the new tax system. The increase in job opportunities and salaries also necessitate that more people learn new skills related to the GST. The certification course of GST can be taken by the Chartered Accountants, the Certified Management Accountants, and other professionals to boost their knowledge regarding the Goods and Services Tax through specialized training modules that help in updating their knowledge step by step. It also intends to improve the problem-solving and the analytical skills of these professionals in the light of the new tax structure. The decision making skills can also be improved with proper training along with skills and knowledge that is required for employment in the industry. People who are keen to move into the realm of self-employment may also need to learn the tenets of this system of taxation.
● Things to know
With a certification course on GST, the individuals taking the course can expect to raise their salary from 15 to 25 percent on an average basis. Apart from this, it also enhances the opportunities of employment and enables several individuals with professional certification to start their business. While the individuals can improve their skills of finance, taxation, and accounting with the certification course, structured content of the courses are more systematic and updated. The courses can also be taken by those professionals who are eager to move from finance to tax and those who are looking forward to add more feathers to the cap to understand the new requirements of taxation.
● Jobs in different sectors
The GST regime as it is predicted is going to step into double digits as far as creation of new employment is concerned. It is presumed that there is going to be a big demand for GST consulting services all of which come as a nice surprise to the job seekers in this country. Research reveals that the upward trend can be noted in the media and entertainment sector, IT and ITES industry, the FMCG goods, telecom and the pharmaceutical industry. However, the scenario is going to be more prolific in the logistics, automobile, e-commerce, home decor, and the cement sector. The chances are that the growth in these sectors can be anywhere around 11 to 18 percent. When it comes to IT, ITES, and the BFSI sector, the rise of jobs in likely to be around ten to twelve percent or a bit more. Finally, the FMCG, telecommunication, and the pharmaceutical sector can report a growth of around ten to thirteen percent.
● Temporary hiring
The sector that is based on temporary hiring has entered a new realm during the recent times, and the post GST era is going to witness a rise as well. In this regard, the other sectors such as cement, IT and ITES are also going to rev up the number of temporary jobs. Besides this, the unorganized sector will become more balanced and organized leading to the creation of more jobs. The corporate sector is going to experience relief with more jobs coming in for the front end sales position.
Overview of the situation
According to research and data, the implementation of GST is expected to create an array of job opportunities as more and more businesses are likely to hire professionals to know about GST registration for service provider, GST management, the upgrades, and the reconciliations. While the candidates taking these courses can work on freelance basis, the services in this country will need people with more knowledge and skills to accommodate the vast population of job seekers into a well-defined job format. The GST system intends to set up maximum jobs and also invite companies across the globe to encourage FDI. The possibility is very bright at the job front and the courses on the new tax system is going to exploit bright and young individuals and professionals to offer services to different industries. Even though the roll out of new jobs is going to be slow, it is necessary to know how the framework of transactions is going to assume new shape. There is no doubt that GST is a path breaking step for creating more employment and career opportunities.