GST pangs: Govt, ICAI to train 1 lakh accountants to help boost tax compliance

The initiative will especially help small and medium enterprises that are struggling with compliance.

The Government of India, along with The Institute of Cost Accountants of India (ICAI), is all set to launch a nationwide GST-training programme to train 1 lakh accountants in the country to enable them to deliver GST compliance, especially to small and medium enterprises that are struggling with compliance. The programme is expected to be launched next month.

ICAI president Amit A Apte said the Niti Aayog had proposed this plan to train GST accountants. The programme aims to train 1 lakh GST accountants in around a year’s time, he said. Apte said GST compliance was a major issue for SMEs and they faced difficulties getting good consultants for GST compliance; this course will help ease the supply of accounting professionals who would enable them achieve compliance.

“The entire programme will be government-funded with ICAI as the partner. Entrance exams will be conducted for the GST accountant course and those who are not professionally qualified as of now to be GST advisers/consultants will be eligible for this programme,” Apte said. It will be an 80-hour programme. Three batches are to be conducted in the year-long programme. ICAI will be training trainers and will deliver the programme through 100 chapters and 300 extension centres across India.

Balwinder Singh, VP, ICAI and chairman, Cost Accounting Standards Board, said the institute has completed 75 years and had contributed to the growth in the country, enhancing cost competitiveness of the Indian industry and supporting the implementation of GST. For the GST accountants programme, ICAI had prepared the syllabus and the books are ready, Singh said. This was also a way of generating employment as these accountants can be self-employed, he said.

Singh said cost and management accountants had significant roles to be play in the emerging economy. Around 1,200 CMA professionals would be in Pune for the ICAI national convention on January 20 and 21. The will mull over the future of cost and management accounting as technology disrupts all sectors they operate in.

Source- Financial Express.

The post GST pangs: Govt, ICAI to train 1 lakh accountants to help boost tax compliance appeared first on GST Station.



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