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Jobs market eyes GST boost with over 1 lakh immediate openings

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Jobs market, GST, Taxation, Accounting, Data analysis, Business news, Career news

New Delhi: The jobs market is looking forward to a big boost from the new GST regime and expects over one lakh immediate new employment opportunities, including in specialised areas like taxation, accounting and data analysis.

The historic tax reform, to be rolled out from July 1, is expected to help the formal job sector attain an annualised growth rate of 10-13 per cent and fuel demand for professionals in various segments of the economy, experts said.

 

 

Indian Staffing Federation’s President Rituparna Chakraborty said the GST (Goods and Services Tax) will make procurement and distribution of goods much faster while cash flow is expected to become more predictable and profitability should improve, too.

“All these and the transparency of compliance shall make working with unorganised players exponentially less attractive thereby pushing the country towards greater formalisation,” she added.

“We are expecting an annualised growth to the tune of 10 -13 per cent in formal job creation on account of GST,” Chakraborty said.

Leading executive search firm GlobalHunt’s MD Sunil Goel said, “On an estimation, it looks like it will create more than one lakh jobs immediately from the first quarter of the implementation date and another 50,000-60,000 jobs will be created for specific activities for GST, going forward.”

 

 

Mid- and small-sized companies will prefer to outsource similar activities to the third party account firms, he said.

GST is expected to create significant job opportunities as the businesses will need to hire professionals for dedicated GST management, upgradation and reconciliations.

“The new tax system will have a positive impact on ease of doing business, thereby making it conducive for foreign investors and companies. This would help in better execution of all government initiatives and propel formal job creation,” Monster.com’s APAC and Middle-East MD Sanjay Modi said.

Sector-wise, the immediate high-impact segments of GST are expected to be automobiles, logistics, home decor, e-commerce, media and entertainment, cement, IT and ITeS, BFSI, consumer durables, pharma and telecom.

 

 

LabourNet Services India co-founder and CEO Gayathri Vasudevan also said hiring is expected to see a significant rise across sectors.

However, this will become a reality only if the infrastructure and logistical challenges on the path of GST implementation are mitigated in time, she emphasised.

 

 

“Although GST is set to propel hiring, compliance ambiguities such as place of supply (intra- or inter-state), for instance, could pose as a challenge for industries that could adversely affect job creation in the near future.

However, once the transition phase eases out, in the long run, GST will add momentum to the entire hiring landscape,” Vasudevan said.

 

Business

Apple is giving a huge discount on its gadgets: Details inside

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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