To be a GST professional, you have to be a Chartered Accountant or a Cost Accountant. Unlike the current regime wherein only finance professionals are involved in tax compliance, GST regime calls for participation from software professionals too. Many of these techies are even showing up for GST Certification courses to explore wider opportunities. Apart from knowledge on GST law and related procedures, understanding of IT system and security is also crucial now.
Demand for GST professional has shot up. Big Four are revamping their teams and offering a hike of up to 30% for joining their GST team. Large enterprises which have their in-house tax compliance team are even offering attractive remuneration to avoid any kind of disruption in their businesses.
There is an acute shortage of skilled talent. GST is a new law and not many are aware of its implications. Professionals are still undergoing training on GST and updating their knowledge on it. This shortage will persist for next two-three quarters.