After revolutionary step taken by the Indian government or we can say due to GST Impact, an area of employment for professional courses has emerged steadily. India Need 1,20,000 More CA After GST In India.
New tax, New Opportunity!! After GST passed in the both houses of Parliament, it has created maximum job for CA due to various compliances that need to be followed in Goods and Service Tax.
GST has brought in ‘one nation one tax’ system in which even startups and small companies have to follow the new taxation system which automatically made the signs of CA more valuable.
Current Scenario Ca In India
There are currently two lakh 85 thousand CAs in the country, while the need – at least one lakh and CA. But only 16 to 18 thousand new CAs can be added every year. However, professionals in this field show that they are not able to raise the fees in the ratio of the speed at which they work.
Yet the fees have increased from one and a half to two times. Craze is also growing in the student to become CA. Compared to December 2016, about 18 thousand students have given its preliminary exam CPT in June 2017.
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Increase Trend Of Students On CA
Due to this GST Impact, there is a huge need of the professional workers who know about GST. Moreover, the client base has been increased by 20 to 25% with CA practicing private practice, while work has increased 4x.
To fulfill this demand, the CA, who has only been working in income tax, has been practicing GST. At the same time 5 to 10% of CAs have started their private practice by leaving their jobs.
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Problems Happening To Traders
If we need 100 people, we are able to fulfill the demand of 40%, although the government is supporting the traders through the GST facility, Kendra etc.
We have also increased the number of people who have tele-education to three times, while the industry Knowing that the demand for CA will be increased faster by the government due to the continuous new rules made by the government. “
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Therefore, Increased Demand For CA
To solve these problems availing and to fulfill this demand, the CA, who has only been working in income tax, has been practicing GST.
CA Atul Gupta, Chairman, Board of Studies, Institute of Chartered Accountants of India (ICAI), explains that 15 to 20% of the CAs who practiced direct tax till now are also looking at GST (indirect tax).
While 5% to 10% of CAs have begun to quit private jobs and practice private practice, There is a need of more than a million people in this profession right now. However, due to high demand the staff is also required to keep 50% more.
The demand for entry levels or CAs with experience of five to seven years has increased by 10 to 12%. There is not any doubt that India Need 1,20,000 More CA After GST In India.