GST was introduced to streamline the complex tax system that existed in India. During the process, as a byproduct of the same, several job opportunities were also opened with. Tax practitioners and GST certified professionals are needed in business as every business has to comply with GST. This article will take a look into the various job opportunities with GST and the needed skills.
Taxation Manager
Most of mid-sized organizations need someone who can take care of all the matters related to GST. Depends on the size of the company, the position can vary in seniority and team strength. Large corporations will have separate managers and teams for direct and indirect tax. Also, there will be people who are responsible for compliances and consultants to take care of complex matters and issues of GST. The team will be also responsible for legal matters of the same.
Skills needed
Required compliances, a strong understanding in GST, practical knowledge of GST portal, drafting and working knowledge in MS Excel and accounting software
Tax Research Analyst
Mostly applied to large corporations. These organizations have complex structures and transactions. Building companies and real estate big players sign new contracts every day and they need professionals who can analyze the contracts from a taxation point of view. A simple mistake or an incorrect signing can turn the entire profitability upside down. Hence the importance of tax professionals is considered one of the integral ones in these companies.
Skills needed
Deep knowledge in GST practices, Analytical thinking, Practical skills
Reconciliation
Big organizations require someone who can reconcile with the purchases, sales, and input tax credit. One small mistake can have a domino effect in the entire process, hence it demands someone who has strong practical knowledge in feeding the right information. The major role in the job can be:
Sales entered in books with sales entered in GSTR 1 and GSTR 3b.
Tax paid on sales declared.
Input tax credit with the purchases
Input tax credit with GSTR 2b, 2a
Input tax credit with the bills and goods received.
Skills required:
Ms Excel, GSTN portal, GST compliances
GST Compliance Practice
Small businesses normally cannot afford a full-time person for GST compliance. In such cases, they approach an existing practitioner to outsource the work. Not just small businesses but it are usual that even some of the large enterprises outsource their tax-related matters. Professionals with the knowledge of compliances can have work here and with working for clients, they can have an independent practice.
Skills needed
GST Compliance, Bulk file working knowledge in software, sales skills
GST Consultancy Practice
Businesses need consultants for their various transactions. The interpretations and implementation of law in practical terms demand such clarity with concept and the ability to analyze in different contexts. Proper understanding of GST and other laws are required here but with good skills, The job can give a prosperous career for a practitioner.
Skills Required
Analytical skills, GST law, GST litigation trends.
GST Trainer
GST law is vast and the business needs to comply with it in their operations. The awareness on the subject is still considerably less and this is where you can build a career. If you have teaching skills then definitely it is worth considering to become a trainer in GST
Skills Required
Good communication skills, Training skills, Clear conceptual understanding in GST
Major Skills Required to Crack any Job Opportunities with GST
GST Law
An in-depth knowledge in the theoretical and practical aspects of GST laws
Analytical Skills
These skills are needed to understand and handle different situations. Each business is unique and one can’t use the same recipe everywhere. Your analytical skills will assist you with the interpretation of the law according to each case and make productive use of it in the outcome.
GSTN Portal Knowledge
GSTN portal is where GST notifications arrive. Also it is the portal that one needs to use for all the GST-related filings and submissions. Hence a good understanding of the portal is a must-have when you want to work in the industry.
Basic Excel and Word
Without strong working knowledge in excel, one will not survive here. Knowing excel is necessary and it will make the life of the professional extremely easy.
Industry knowledge
Certain things will only come with experience. The more you spend time with, the more you learn about the tips and knock on how to do the work, how to deal with situations, communications with clients, etc. Along with that, doing a specific course in GST will help you to learn the intricacies of the industry.
Which Course to Study to Grab the Job Opportunity with GST
There are plenty of online courses available in GST, through online, one can save time as well as learn according to their convenience. GST Filing, GST For accountants, are some of the courses that can help you to get intense practical training in GST
