'Vast GST system needs trained tax professionals with practical skill'

  • IANS
  • Stock Market News
'Vast GST system needs trained tax professionals with practical skill'
Credit: © Reuters.

New Delhi, Oct 20 (IANS) While the government pays special attention to tax management for resource mobilisation, there is a huge need for skilled tax professionals to support the government's GST (Goods and Services Tax) system, as per experts.

The scope of GST has widened over the years, however, a gap has been observed in skilled tax professionals to cater to the demand.

In this context, E-learning platform Tax4Wealth has prepared various training courses related to GST with a special focus on imparting practical skill training in the line of Skill India Mission.

Himanshu Kumar, CEO, Tax4Wealth said that the GST is a revolutionary step by the government and its scope has increased over the period. "In such a situation, there will be a huge demand for expert tax professionals in the context of GST in the near future. We have found that most of the professions have only theoretical training about the tax system. But, there is a need for proper practical training given the wide applicability of the GST."

About the skilling model of the E-learning platform, he said: "Our focus is more on learning through practical training so that tax professionals could get firsthand knowledge of the GST system and its working. Employment opportunities for trained tax professionals have been rising. But, the truth is that only skilled and trained professionals will be able to avail the opportunities."

He said that resources are needed for the smooth functioning of government systems. There were many discrepancies in the context of indirect tax in India.

The GST i.e. Goods and Services Tax system was brought in to remove which and to implement 'One Nation One Tax System' in India. There are many processes involved in this system and the need for a large number of accounting professionals is being felt to carry out these processes, he added.



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