GST

GST: Top 5 Job Profiles That You Can Pursue

Mehwash Hussain
Mehwash Hussain
Posted on 23 Nov 2022
11:15 AM

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Summary
The majority of products and services sold for domestic use are subject to Goods and Services Tax (GST), a subcategory of value-added tax (VAT)
From Taxation Manager to Reconciliation Specialist, the opportunities are endless for someone who's interested in making a career in GST

In today’s world, if you are not aware of the word ‘GST’ then you are definitely living under a rock. The majority of products and services sold for domestic use are subject to Goods and Services Tax (GST), a subcategory of value-added tax (VAT). Consumers pay the GST and businesses that sell the goods and services return it to the government. Every single organisation, whether MNC or small enterprise, must abide by the regulations of GST.

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If you are someone who is good at handling tax & finance and are interested in working with GST, then check out the top 5 sought-after job profiles below:

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1. Taxation Manager

To reduce their companies' audit risk, tax managers put in a lot of effort all year round. Building and managing tax strategies, preparing and filing tax returns for their organisation, and keeping up with new tax legislation are all ways that they manage this. A person with strong advocacy abilities is also required in cases involving departmental notices and other legal concerns. As a result, Taxation Manager ranks as one of the best employment opportunities in GST.

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2. Tax Analysts

The preparation, examination, and filing of tax returns and tax forms come under the scope of Tax Analysts. People and companies engage them to design forms and inform them of strategies to lower their tax obligations and payments. They are in charge of preparing returns and reviewing documentation, checking for accuracy and completion, and filing a finished return by the federal or state tax filing dates.

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3. Reconciliation Specialist

Reconciling an organisation's books of accounts requires expertise because providing incorrect data for GST might have major impacts. For a financial organisation, accounting records reconciliations are prepared by reconciliation specialists, who are professionals in accounting. A Reconciliation Specialist’s work 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.

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4. Tax Lawyers

Tax lawyers provide assistance to individuals, businesses, and organisations with their tax-related legal problems. Helping organisations reduce their exposure to tax liabilities is also part of their job role. Additionally, they assist clients who could be involved in tax disputes with the internal revenue service (IRS) or other taxing authorities. Tax law is seen as a relatively stable field of practice because it is here to stay.

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5. Tax Consultant

A tax consultant offers guidance and advice to clients on tax-related issues. They assist both individuals and businesses in adhering to 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 are among the businesses that employ tax consultants.

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Last updated on 23 Nov 2022
11:15 AM
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