{"id":74,"date":"2018-07-17T02:58:21","date_gmt":"2018-07-17T02:58:21","guid":{"rendered":"http:\/\/biatconsultant.com\/blog\/?p=74"},"modified":"2018-07-17T02:59:41","modified_gmt":"2018-07-17T02:59:41","slug":"impact-of-gst-on-ca-professionals","status":"publish","type":"post","link":"https:\/\/www.biatconsultant.com\/blog\/impact-of-gst-on-ca-professionals\/","title":{"rendered":"IMPACT OF GST ON CA PROFESSIONALS"},"content":{"rendered":"<p>New tax system has brought new opportunities in India whether it is chartered<br \/>\naccountant or computer science professional. GST took more than a decade to\u00a0get passed in both houses of the parliaments. Due to this, there is a very<br \/>\nconvenient way to bring a tax reform in India. Everywhere there is a buzz<br \/>\nabout the economic improvement due to this taxation system. GST has had a<br \/>\nvery positive effect on the businesses and everyone is thankful for this system.<\/p>\n<p>This system has brought one tax policy in one nation and reduced the<br \/>\ncomplexity of doing business which has resulted in more revenue generation<br \/>\nand more profits. All the rules are similar to whole country. Let us try to figure<br \/>\nout how GST has impacted chartered accountants in India.<\/p>\n<p><strong>What chartered accountants are charging under GST?<\/strong><\/p>\n<p>After the implementation of GST, there is been a very sharp hike in the salaries<br \/>\nof the chartered accountants and chartered secretaries. Previously, the<br \/>\nchartered accountants used to charge around INR 2500. Now, after the GST<br \/>\nthe fees of chartered accountants have been shot up to INR 25000. The chief<br \/>\nreason behind this hike is the load over the CA community. There are lot of<br \/>\nprocedures involved in the GST process which has led to this rise.<\/p>\n<p><strong>How GST changed the chartered accountant work scenarios?<\/strong><\/p>\n<p>When the VAT system was in place, most of the work was done manually<br \/>\nwhich resulted in the waste of time and money but with the effect of GST,<br \/>\neverything has come online and it has improved work efficiency. With the VAT<br \/>\nsystem in place, professional are found working in one or two place because<br \/>\neach state has different rules which used to create problems but with GST<br \/>\nrules are same for every state due to which ease of business has increased and\u00a0work area has expanded.<\/p>\n<p>During the VAT times, the returns were uploaded on a monthly basis and you<br \/>\nhave to fill the sales and purchase register and main returns too. If there is any<br \/>\nerror, you have to repeat the whole process again and again until the problem<br \/>\nis rectified. This was a very hectic process which wasted lot of time. But with<br \/>\nthe coming of GST, we just have to fill the details in the client\u2019s sales register\u00a0and all the information gets displayed in the purchaser\u2019s purchase register. So\u00a0due to this process, the time and effort taken to fill data in the purchase and<br \/>\nmain form register has greatly reduced. This issue of mismatch data has been<br \/>\ngreatly resolved.<\/p>\n<p><strong>Next step for chartered accountants?<\/strong><\/p>\n<p>India is a developing country with a huge number of start-ups and small<br \/>\ncompanies. GST has brought new taxation system into place. So the demands<br \/>\nof individuals who have knowledge of this new system have increased sharply.<br \/>\nGST is a privilege for the chartered accountants. It has increased the fees of the\u00a0chartered accountants. It has helped not only old chartered accountants but\u00a0also the new chartered accountants. If you are new CA and you have the<br \/>\nknowledge of GST, then you will be very high demand.<\/p>\n<p>Newly certified chartered accountants have a big advantage of grabbing this<br \/>\nbig opportunities. They can offer online services and join forums to answer<br \/>\nqueries asked by taxpayers. The chartered accountants are very essential<br \/>\nperson of a country. They have to keep themselves updated about the latest<br \/>\nlaws and rules of the GST. As far as the future of chartered accountants is<br \/>\nconsidered, they have a very bright future. GST has helped in building a better<br \/>\ntaxation system in India.<\/p>\n<p>&nbsp;<\/p>\n<p>So in case you are looking for <a href=\"http:\/\/www.biatconsultant.com\">CA in India<\/a> or for <a href=\"http:\/\/www.biatconsultant.com\">GST registration online<\/a> , you can consult <a href=\"http:\/\/www.biatconsultant.com\">BIATConsultant<\/a> to get it all done under one roof .<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New tax system has brought new opportunities in India whether it is chartered accountant or computer science professional. GST took more than a decade to\u00a0get passed in both houses of the parliaments. Due to this, there is a very convenient way to bring a tax reform in India. Everywhere there is a buzz about the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.biatconsultant.com\/blog\/impact-of-gst-on-ca-professionals\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;IMPACT OF GST ON CA PROFESSIONALS&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":75,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,31],"tags":[6,5,39,40,35,37],"class_list":["post-74","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ca","category-registration","tag-ca-in-delhi","tag-ca-in-india","tag-chartered-account-in-delhi","tag-chartered-accountant-in-india","tag-gst-registration-in-india","tag-gst-registration-online"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>IMPACT OF GST ON CA PROFESSIONALS - Business , Financial &amp; Legal Consultant In India<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.biatconsultant.com\/blog\/impact-of-gst-on-ca-professionals\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMPACT OF GST ON CA PROFESSIONALS - Business , Financial &amp; Legal Consultant In India\" \/>\n<meta property=\"og:description\" content=\"New tax system has brought new opportunities in India whether it is chartered accountant or computer science professional. 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