Claim: More than one lakh new jobs will be created as soon as GST is implemented
The much-awaited commodity and service tax, that is, the GST is going to come into effect from July 1 and experts estimate that this new tax system will create large-scale new jobs in the country. It is believed that about one lakh jobs will be exposed immediately, including the demand for people who are qualified in the field of tax, accounting and data analysis.
Experts believe that GST will come out in the job sector and this sector will register an increase of 10 to 13 percent per annum. In different sectors of the economy, it will accelerate demand for professionals.
Rituparna Chakraborty, president of Indian Staffing Federation said that GST will speed up the procurement and distribution of commodities. This will increase transparency. It will be easier to estimate the cash flow and the profits will also increase. Most of these 10 to 13 percent of the jobs will bounce.
Global Hunt MD Sunil Goyal said that according to an estimate, it seems that this will create one lakh jobs immediately, which can be seen only in the first quarter of its implementation. Apart from this, 50-60 thousand jobs will be born in the future for special activities of GST. He said that the medium and small companies would like to undertake these activities as a source to the third party account firm.
Sanjay Modi, Asia Pacific and Middle East MD of Monster.com, said that the new tax system will have a positive impact on the business environment. This will attract foreign investors and companies too. This will help in implementing various schemes of the government and opportunities for jobs will increase.