It’s CAs vs STEM grads for jobs in consulting

between businesses and regulatory authorities moving to the digital mode.

The indirect-tax administration collects information about transactions at various points in the supply chain and matches data to ensure that tax credits claimed by businesses are genuine and that there is no sale without invoice or invoice without supply of goods.

The Income Tax department has deployed technology heavily in tax administration. The corporate affairs ministry has upgraded the statutory filing portal and centralised the registration and winding up of businesses. The rising coordination among regulatory agencies, too, necessitates businesses to measure up and be error free in their statutory filings.

Gupta said EY is investing in building artificial intelligence capabilities, which will help both its people and clients. For successful consulting business, the right mix of finance and science professionals and use of technology is becoming critical. “By harnessing the collective strengths of these diverse skill sets, we are empowering our teams to deliver cutting-edge solutions,” said Gupta.

EY, which has a large tax practice in India, has deployed an enterprise-level platform called ‘EY India tax platform’ to help its clients with their entire tax life-cycle compliances. Indirect tax-related consulting and compliance work—such as for goods and services tax and customs—now account for about 25% of EY’s tax practice’s top line, the firm said.