How will implementation of GST affect the demand of Chartered Accountants?
Many tax firms, including big-ticket accounting and consultancy majors, both international and Indian, are looking at making the most of the opportunity that the process of switching to a new tax regime throws up. "Demand for GST specialists is going to outstrip supply. All the major accounting and tax advisory firms, combined, may not be able to serve the market," says Uday Pimprikar, tax partner, EY. Most consultancy firms are looking at ramping up the headcount of indirect tax experts and re-deploying existing talent into GST practice after an in-house training. For instance, EY, at present, has 150-200 tax and functional experts work on GST-related assignments. Pimprikar expects this number to magnify three-four times over the next 12 to 18 months.