GST-A long platform for Job creation

Whenever a new item comes into public use, new avenues open up to facilitate the entry. At present Goods and services tax (GST) is in its infant stage, surmounting the obstacles.There is lack of clarity in GST applications, though alround appreciation, with some hiccups is perceptible.

Now it is time to those, commerce educated fraternity to tap the potential, streamline accounting methods suited to this new system.Experts expect small and medium companies to seek outsourcing to meet their accounts needs.Those people already practicing VAT, and in particular chartered accountants, will have an adequate future advantage. When the tax system completely transforms to GST, capable people with the commercial knowledge can reap benefits.

This is dependent on computer skills.So relevant people also will get employment in a big way .That means financial and IT well-versed personnel will have plenty of work. Some estimates hope for about 4 or 5 lakh jobs in this field in a short time.

The cascading effect of employment generation may benefit logistics, retail, information technology, cement, hospitality, automobile, FMCG,
E-Commerce fields.Our Government "make in India" program gives fillip to manufacturing sector .In turn tax experts will have bulk work to attend to.

As big companies will create new departments to deal with GST, definitely Software, Hardware, cost Accountancy, management accountant connected branches will get upward push.The immediate necessity will be with experts who can guide in simplifying the complicated tax matters on GST lines. Those IT people interested to gain in this field, have to be acquainted with commercial matters to the necessary extent.