As the salary increments across most of the Indian industry verticals fall to lower digit figures, GST (goods & services tax) professionals are seen contradicting the trend by taking home hefty salary packages, mid-term bonuses & increments.
The volume of openings for GST practitioners in India is currently at an extreme high. The requirement of GST practitioners in the market is at peak due to various economic reforms of the nation. However, the availability of the professional GST talent is low due to the newness of the concept. Thereare relatively a less number of professionals in the market and thus the professionals who can take the onus of handling the new reform are insufficient in the local market, due to lack of knowledge in the field.
This brings the lucrative career opportunities in GST to knock the doors ofaspiring GST professionals!
As the market is seeing a dearth of experienced tax practitioners, the current scarcity is encouraging young talent who has to desire or aspiration to learn the new & exciting legislation, to professionally make their debut into the GST field.
Due to the increased emphasis in GST reforms, the hiring intensity for GST professionals is at an overall high. There has been a huge demand for the GST talent in all the business verticals due to the criticality of the subject.
It has hugely boosted the job opportunities across industries.
The recruitment market is looking forward to a high rise from the new GST regime & expects over a lakh of immediate new job opportunities, particularly specialized in the areas of taxation, accounting & data analysis.
The jobs related to implementation of GST (Good & Service Tax) have been in high demand especially in the below mentioned industries, ahead of the July 1 rollout, as compared to the availability of GST practitioners.
Banking, financial services and insurance (BFSI)
Most of the financial services will attract a higher tax rate of 18 per cent under GST as against the service tax rate of 15 per cent earlier. “Hiring in BFSI will be at an overall high despite the increase on GST as the industry outlook is at its peak of hiring due to various economic reforms and decrease in the loan interest rates. Banks, non-banking financial companies (NBFCs) and insurance companies are hiring across levels at a pace of 18 per cent to 23 per cent higher over the last year,” says a senior executive.
The market is also expecting an increasing rate of hiring opportunities in manufacturing sector to improve. The implementation of the unified taxation system will help the manufacturing sector and also boost the government’s Make In India initiative, according to the staffing company. “An expected 14 per cent increase of employment expected from the overall aspects on benefit of GST as well as the promotions of manufacturing segment with the Make-In-India initiative,” the senior executive adds.
This is the right time to become a GST professional and take home hefty salary packages. But since the level of professional GST expertiserequired in the industry is high, one has to be careful &remain updated with all the latest concepts of GST laws.
There are various GST training programs offered by various institutes in the market. However, an aspirant must select a training institute whose training modules capture the pace& intensity of the ever-evolving GST regulations.
IIPTR (Initiative Institute of Professional Training & Research) is an acclaimed training institute in Mumbai who employs professional training faculty with over 15+ years of industry excellence.
Along with power-packed training modules, we guarantee supporting each student at IIPTR with lifelong assistance with regards to placement as well as study revision.
We do not just stay that, we stand by it! Come & experience it for yourself.
Check out our GST Practitioner course module: https://iiptr.com/gst-practitioner-course/
If you are an aspirant who is looking forward to painting your career in the lucrative GST field, come & talk to us. We are here to take you through your entire journey of becoming a GST practitioner.