As GST implementation hits the industry, the need to keep clarity in running a smooth business and understanding the intricacies of taxation and finance is required by all. This will eventually see a shift in career trends from the saturation of engineering graduates to bright openings in commerce. Earlier only 9% to 15% of B.com students found benefiting jobs.
Accounting and compliance related work increases in companies with the onset of GST and commerce graduates are in demand for day-to-day filing tasks. Hence, the demand for B.Com students sores up who were initially forced to go for higher studies like M.Com and MBA.
On the same lines, Dr. Anupama Natarajan, Principal, IFIM College, Bangalore expresses her views on how GST affects the larger picture of undergraduate education, "GST is the New Inflection Point. It transcends boundaries of accounting and embraces technology, software, transparency in governance and new vistas in indirect taxation. It’s impact on the practicing accountants, software developers and related professionals are phenomenal, considering GST has transformed India into the largest tax office in the world with One Nation- One Tax principle. Students of Commerce, Accounting Professions and technocrats have immense potential for employment with this reform to transform India."