State lawmakers will pass GST regime in state soon and after GST rollout in the state there will be requirement of GST-trained professionals in Jammu and Kashmir. Though the complexities of this new tax regime have baffled many, it is seen as an opportunity for job creation in new sector by a few.
Union Minister for Labour and Employment Bandaru Dattatreya has recently said that with the roll out of the Goods and Services Tax (GST) across the nation, one lakh jobs will be created in the first three months. In addition, around 60,000 persons would get employment in the accountancy sector.
If complexities related to account maintenance in GST persist, it is likely to step up the use of computers which will then require experts of the field.
The situation which now arises is that the new tax system will create difficulties for business entities to deal with the figures while filing taxes owing to which there will be the need of additional manpower.
GST is expected to create significant job opportunities as the businesses will need to hire professionals for dedicated GST management, upgradation and reconciliations.
The problem will not be faced by giants but by small retailers who will not be able to handle computer in the state. They will also have to hire someone for the computing and they may end up losing their business in this way.
Course you can do to become professional is GST
In order to create a workforce of GST-trained professionals, the Ministry of Skill Development and Entrepreneurship (MSDE) has announced a 100-hour certificate course to understand the new tax regime.
The training programme — conceptualised under the central government’s flagship scheme of Pradhan Mantri Kaushal Vikas Yojana (PMKVY) — would be conducted in Delhi, Bengaluru, and Bhopal.
Chartered accountants, company secretaries, graduates and post-graduates in commerce, banking, statistics, financial markets and business administration can undergo the training programme.
The course is expected to cater to the “urgent need of professionals” who can help their clients understand such concepts as incidence of taxation, registration under GST and calculation of tax liability.
There are many courses are available online and offline on GST, a thorough research has to be made.
If you see your career in fiance you must undergo a certified course on GST to hone you skills.