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GST to open up new job opportunities, say experts
Posted on: 08/Jul/2017 12:52:20 PM
The newly introduced GST regime is to be thanked for creating newer opportunities in IT sector, says an industry veteran. Addressing the Confederation of Indian Industry, the co-founder and vice-chairman of Infosys, Kris Gopalakrishnan said that a number of new opportunities will pop up with the Goods and Services Tax.
There will be increased productivity, better business processes and more job opportunities along with increased tax revenues for the government, adds Mr Gopalakrishnan. The government would infuse the surge in tax revenues into the country’s economy, he states. As per estimations, there will be 2 to 4 percent increase in GDP.
Annually, 20 million new job opportunities are looked forward to in the country. In his opinion, Gopalakrishnan says there will be 10,000 to 1 lakh new job offers within very short time span during the initial stage of GST. To a question raised to him about exclusion of alcohol and petroleum products under GST ambit, he says all the products should be included under GST system. Once the system comes to practice and the stakeholders get used to it, things will turn easier and products and services shall be made taxable.
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