Role of Cost and Management Accountants in Regime-Strategies to Manage Change

Abstract

Introduction of GST is inevitable in order to have uniform tax rates and seamless movement of Goods&Services across India with prior knowledge of taxability of such goods or services within any part of India. This, in a way, is a dynamic legislation bringing all the indirect taxes under one umbrella and goes with ONE INDIA concept.

While the Government is trying its best to bring in varying States to agree on the formulae laid down by various Committees/commissions in this regard, the industry needs to look inward to meet the challenges of sweeping changes in the indirect tax regime.

In this context the role of the Cost&Management Accountant, as an important decision maker in the senior management team, is pivotal and he needs to equip himself, his team members and other stakeholders to have effective strategies in place to manage the change.