CHENNAI: The confusion surrounding implantation of the Goods and Services Tax from the beginning of this month has led to a spike in demand for chartered accountants and even commerce graduates, noted experts.
At The Institute of Chartered Accountants of India (ICAI), where results are yet to be declared and placement is scheduled only months away, a lot of inquiries have begun coming in. “We expect a 100 per cent rise in number of companies visiting us this year, and 100 per cent placement as well,” said S Sivanesan, deputy secretary, ICAI.
Everyone from small traders to multinational giants are in search of those who can unravel the GST mystery, he added.
There are around seven lakh companies that have been registered with the Registrar of Companies (ROC). All these firms have to work with GST in one way or the other, which has led to this demand. “Companies need quality manpower who’re also familiar with GST provisions. Now, there’s high demand for such graduates,” added Gopal Raju, regional council member, ICAI.
This is expected to reflect in the number of companies who would visit the institute for campus placement this year, he added. To deal with the change in tax regime, the institute has added GST to its curriculum at all levels of CA courses, as well as B Com (general/accounting and finance). “The final examination this November will have questions on GST for 10 marks. From the next academic year, a new course on GST will be introduced,” added Sivanesan.
To help implementation of the new tax regime, ICAI has been conducting workshops, seminars and conferences for its members for the past nine months, he said. “At the ICAI campus, we have a GST counter open from 2pm to 5pm. From tea shop vendors to multinational executives, anyone may approach for help and information about GST,” said Sivanesan.