• Notification Date: 26-11-2022
  • Notification No: N/A

5 Best Job Profiles to Pursue: GST

Goods and Services Tax (GST) framework covers majority products and services sold for domestic use in today’s world. GST is a subcategory of value-added tax (VAT). The consumers are required to pay the GST and businesses that sell the goods and services return it to the government. All the organisations, whether big or small, are bound to follow the regulations of GST.

The 5 best job profiles for people good at handling tax & finance and are interested in working with GST are listed below.

1. Taxation Manager

The first suggestion in GST employment opportunities is for the job profile of tax manager. They put in a lot of effort throughout the year to minimise their companies' audit risk. The key role of a tax manager is to build and manage tax strategies, prepare and file tax returns for their organisation. They also keep up with new tax legislation are all ways that they manage this. For the role of tax manager, a person with strong advocacy abilities is suitable as they need to handle cases related to departmental notices and other legal concerns.

2. Tax Analysts

The main functions of a tax analyst are the preparation, examination, and filing of tax returns and tax forms. They are hired by people and companies to design forms and inform them of strategies to lower their tax obligations and payments. Tax analysts prepare returns and review documentation. They check for accuracy and completion, and file finished return by the federal or state tax filing dates.

3. Reconciliation Specialist

An expert and efficient person is required for reconciling an organisation's books of accounts. This is because providing incorrect data for GST might have major impacts. For a financial organisation, reconciliation specialists prepare the accounting records reconciliations. These people are quite professionals in accounting. The main role of a Reconciliation Specialist includes creating journal entries, keeping spreadsheets up to date, writing monthly bank reconciliations, keeping track of bank activity, and fixing reconciliation errors from the previous month.

4. Tax Lawyers

Tax lawyers are hired to offer necessary assistance to individuals, businesses, and organisations. They assist others with their tax-related legal problems. They are also hired by organisations to reduce their exposure to tax liabilities. Besides, they assist clients who could be involved in tax disputes with the internal revenue service (IRS) or other taxing authorities. Tax law is considered as a relatively stable field of practice as it is not about to fade away anytime soon.

5. Tax Consultant

The last but not the least important job role is that of a tax consultant. A tax consultant offers guidance and advice to clients on tax-related issues. They assist both individuals and businesses in abiding by the tax regulations and reducing prospective tax liabilities. Tax consultants have extensive knowledge of both accounting principles and tax law. Accounting firms, legal firms, banks, and real estate companies mainly hire tax consultants.