Home Business The wider GST (tax) net brings with it the need for skilled...

The wider GST (tax) net brings with it the need for skilled accountants

There is a huge need for skilled accountant professionals to support the GST system.

New Delhi:

Resources are required for the smooth functioning of government systems. The government pays special attention to tax management to mobilize resources. There were many discrepancies with respect to indirect tax in India. To remove this and implement ‘One Nation One Tax System’ in India, GST i.e. Goods and Services Tax system was brought. There are several processes involved in this system. The need for a large number of accounting professionals is being felt to carry out these processes.

There is a huge need for skilled accountant professionals to support the GST system. Recognizing this fact, many educational institutions are creating training courses that can prepare trained professionals to support the GST system. In this context, e-learning platform Tax4Wealth has also designed various training courses related to GST. Himanshu Kumar, CEO, Tax4Wealth said that the scope of GST is continuously expanding.

In such a situation, there will be a huge demand for specialist professionals in the context of GST in the near future. In such a situation, the youth who will be proficient in accounting skills. Only employment and self-employment opportunities will be available to them.

In general, entrepreneurs or businessmen want to focus their attention on the enterprise and business by delegating taxation-related duties to accounting professionals. The GST system requires only skilled professionals for periodic filing of GST returns, processing of e-invoices, processing of TDS and TCS, GST registration, e-way bills, input credit etc. These skilled professionals can only be groomed with that level of training.

Skilled professionals cannot be created on the basis of degrees alone. Undoubtedly degree is an essential fact. But a balance of degree and accounting skills can be the basis for preparing skilled professionals for the GST support system.

(Except for the title, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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