GST (Goods and Service Tax) is an indirect tax that has subsumed 17 other central and state taxes in India like VAT, purchase tax, and excise duty. The term GST means a value-added tax levied on goods and services. The history of GST in India traced back to 2000. When a newly formed committee drafted the GST law, it took 17 years for it to evolve.
On 1 July 2017, the Goods and Service Tax got introduced. It is a comprehensive, multi-stage taxation system imposed right from purchasing raw materials to selling to the end consumers. It is also known as a destination-based tax levied at the point of consumption and not from the origin point. Notably, the implementation of GST has significantly reduced the overall tax burden for consumers.
Before the GST regime, the state and the center imposed indirect taxes. Every state had different sets of rules. In addition, the states collected goods tax in the form of Value Added Tax (VAT). Thus, this led to the overlapping of taxes known as cascading effect of taxes. Below is the list of indirect taxes during the pre-GST regime:
- Excise Duty
- Additional Duties of Excise and Customs
- State VAT
- Luxury Tax
- Entry Tax
- Tax on gambling and lotteries
- Entertainment Tax
- Advertisements Tax
If you are a newbie, here is How GST Works
Types of GST
The four components of GST are listed below:
1. Central Goods and Service Tax (CGST)
Central Government imposes the Central tax on the transaction of goods and services within the state. The state and the center share the revenue generated through central goods and services.
2. State Goods and Service Tax (SGST)
The state government imposes the State tax on goods and services transactions of every state. SGST replaces earlier taxes such as entertainment tax, octroi, or tax on a lottery. Under SGST, the State government collects the earned revenue.
3. Union Territories Goods and Service Tax (UTGST)
UTGST applies to Intra UT goods and services. The purpose is to provide benefits as same as SGST. Union Territories like Andaman and Nicobar Islands, Dadra and Nagar Haveli, Lakshadweep, Daman and Diu, and Chandigarh fall under UTGST, whereas Delhi and Puducherry fall under SGST as they have their legislation.
4. Integrated Goods and Services Tax (IGST)
Applicable on the inter-state, imported, and exported goods and services.
Objectives of Goods and Service Tax
Since GST has consolidated all indirect taxes into a single tax, every state applies the same rate to a specific good or service.
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Broaden The Taxpayer Base
Earlier, every tax law had a various threshold limit for registration based on revenue. Due to GST, there is an increase in tax-registered businesses. Therefore, the input tax credits regulation has facilitated incorporating unorganized sectors into the tax regime.
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Avoid Procedural Complication
Nowadays, return filling, other assessments, and refund procedures take place online. From a click of a button to e-way bills has simplified taxpayer compliance and setting up a business in India.
New Compliances Under Good Service Tax
Apart from the online filing of the GST returns, a few compliances are essential to maintain every year. Such as:
- E-invoicing: It is a system made necessary for businesses having a turnover above INR 500 crores. Recently, this system also got extended to enterprises with a turnover above Rs. 100 crore. It reduces data entry errors by directly passing the invoice information from IRP to the GST and e-way bill portal.
- E-way Bills: Electronic way bill is for inter and intra-state movement of goods generated on the eWay Bill Portal. This system provides a wide range of benefits that includes:
- Faster and seamless movement of goods both intrastate and interstate with a robust tracking mechanism.
- Better compliance.
- The convenience of bill generation.
- An improved logistic network.
Benefits of GST Certification Courses in Madurai
Below is the list of benefits of the GST certification courses in Madurai:
- An individual can expect a salary increase.
- An individual will have plenty of job opportunities available.
- An individual can have their firm or start their consultancy.
- It will enhance an individual’s skills and make them an expert in taxation, finance, and accounting.
Who Can Apply To GST Certification Courses in Madurai?
In India, GST law, registration, and implementation are continually evolving. As a result, it has raised doubts and concerns among taxpayers. Taking this into consideration, the administration has set up GST practitioners to assist taxpayers in GST compliances.
The GST practitioners have to undergo a course to excel in this area. Thus, the Ministry of Micro, Small, and Medium Enterprises has provided GST certification courses. Graduates, chartered accountants, company secretaries, financial and tax experts, and freshers are eligible to take the GST certification courses in Madurai.
Best GST Certification Courses In Madurai
To help you make a better choice and consider that most of you are homebound, we have narrowed down the list of best institutes providing online or/and offline GST certification courses in Madurai.
IIM SKILLS is one of the leading online education institutes certified globally. They aim to provide the best education at an affordable cost through live online and self-paced learning modes. The faculty has over 12 years of experience as professionals in the industry. Candidates have case studies and hands-on experience during the professional certification program.
Course: GST Certification Course
Course Duration and Fee Structure
IIMS SKILLS conducts -4 weeks of live sessions and 16 hours of lectures. The course fee is Rs. 2900.
Course Features and Eligibility
- Freshers and students, Accounting and Finance experts, business owners/ startups, and retired.
- Understanding Goods and Services Tax.
- Hands-on experience and case studies to understand the nuances and the overall framework of GST and becoming job-ready.
- Applicants will have lifetime access to the session recording and other course materials through the LMS portal.
Modules
- GST concept and its impact on businesses
- Framework and Structure of GST
- Invoicing and Return Filing of GST
- Registration and Composition Scheme under GST
- Reverse Charge Mechanism
- E-Way Bill under GST
- Input Tax Credit and Payment in GST
Other Courses offered by IIM Skills:
IIM SKILLS Brand Partners
Reviews and Testimonials
Must Read: IIM Skills GST Certification Course Review
Contact: +919580740740, [email protected]
2. NIIT LTD
The company was founded in 1981 to assist new IT businesses to tackle human resources challenges. Since then, the company has been expanding its horizons in other talent development programs. It offers one of the top GST certification courses in Madurai.
Presently, it is one of the leading talent development cooperation and made its presence in over 30 countries. The company aims in developing the workforce to meet the requirements of the global industry and provide skills training to individuals and institutions.
Course: Introduction of GST
Course Duration and Fee Structure
The extensive learning duration is 20 hours. The total fee is Rs.3800/-.
Course Features And Eligibility
- Students with a B.com degree or graduate with commerce as the subject of interest till Class XII and should be familiar with the taxation system are eligible to take the course.
- Enables the student to have insight about GST, its implementation, and its effect on the taxation system.
- The course is structured and integrated with the Tally online certification exam.
- The course provides extensive learning and real-time practice on data sets.
Modules
- Concepts of GST, GSTN, and GSP
- Supply of Goods and Services
- Time and Value of Supply
- Invoicing and Input Credit Mechanism
- Return, Payment, Rate Structure, and Refund of Tax
- Consequences of Non-Compliance
- Accounts and Records
- GST and Input Service Distributor (ISD)
- Job Work and Non-Resident Tax Payer
- E-Commerce and Compliance Rating
- Tax Return Preparer
- Audit Process
- Demands, Recovery, Appeals, and Revision
- Liability to Pay
Recommended Read: GST Certification Courses in Chennai
3. ICAI – Institute of Chartered Accountant of India
ICAI is the second largest professional accounting & finance body acknowledged across the globe for its contribution to academics and professional growth. The GST certification course is provided only to the members of the ICAI. It ranks among the best GST certification courses in Madurai.
Course: GST Certification Course
Course Duration and Fee Structure
The course duration: 10 days available on weekdays (Monday to Friday ) or weekends ( Saturday and Sunday) with a total fee of Rs. 12,600+GST for other cities and Rs. 14,000+GST for cities like Delhi, Kolkata, Chennai, Mumbai, Hyderabad, Bangalore, Pune, Ahmedabad, and Jaipur.
Course Features and Eligibility
- The members who belong to the chartered accountant’s institute or qualified for the CA examination finals are eligible. Candidates in service and auditing are also qualified to take the course.
- Course enrolment is on a first-come, first-serve basis.
- Highly experienced faculty with in-depth knowledge and are chartered accountants, academicians, and advocates experts.
Modules
- Principle terms, concepts, returns, refund, and payment under GST
- Levy of GST
- Purpose of time and place of supply
- HSN and SAC covering
- Overview of GST
- Domestic Services
- Input tax credit
- Registration, Valuation, Reverse Charge, E- Way Bill
- Maintenance of Records and Books
- Relevant Allied Laws
- Ethical Practice and Professional Opportunities
- Miscellaneous and Transitional Provisions
- Budgetary support
- Overview of Audit
4. ACTE
ACTE is a leading IT software training institute located in Chennai and Bangalore. They motivate and train the candidates by understanding their capabilities and weaknesses.
The coordinators help the trainees like freshers, job seekers, and employees working in corporate with supplementary courses related to the software field by using the latest technologies structures, problems, and conclusions.
Apart from this, ACTE is also known to offer the best GST certification courses in Madurai in Madurai. It has been favorable for new enterprises especially.
Course: GST Training
Course Duration
The course duration is 40 hours. As per candidates’ requirements, the classes are provided either on weekdays (Mon to Fri; 1-1.30 hours / per session) or weekends (Weekend Regular 3hours /per session; Weekend Fast-track 6 – 7 hours / per session).
Course Features and Eligibility
- The course contains beginner and advanced levels.
- They provide hands-on learning.
- Students have lifetime access to the portal, study materials, videos, and interview questions of top MNC’s.
- Industrial GST Experts have designed the course curriculum.
- As per the trainee requirement, the training can be classroom batch training, one-to-one training, online training, or customized training.
- A free demo class is available.
- Placement opportunities are an add-on to every student and professional. The candidate also undergoes interview preparation techniques, mock exams, and mock interviews after 70% completion of the GST training course content.
Modules
- Accounting Using Tally
- Why’s, Tax Structure, Features, Components
- Benefits, Registration, and Filing of GST
- GST Returns
- Input Tax Credit
- MIS Reports
Recommended Read: GST Certification Courses in Coimbatore
5. PRIM – Padmarajam Institute of Management
PRIM is an ISO certified student-friendly institute offering globally known professional courses like CA, CMA, CS, ACCA-UK, CIMA-UK. A candidate is eligible to pursue Ph.D. directly in their desired university across the globe only after completing one of the programs mentioned above. The team comprises highly qualified with M.Phil., Ph.D. degrees and technically skilled experts from auditing and company secretaries mentor and hone the skills of every individual. In this way, the candidates can achieve excellent job opportunities. It is regarded as one of the top GST certification courses in Madurai.
Course: Taxation Master Certificate Program
Modules
- GST for Goods and Services (SGST, CGST, and IGST)
- Tax Deducted at Source
6. ICSI
ICSI develops and regulates the profession of company secretaries in India, established and functioned under an act of Parliament and jurisdiction of the Corporate Affairs Ministry, respectively.
The headquarters of ICSI is in New Delhi. It has regional offices in New Delhi, Chennai, Kolkata, and Mumbai. ICSI provides certification in GST with a vision to help the members to overcome challenges in the field of taxation by imparting in-depth knowledge of the GST regime.
Course: GST certification course in Madurai
Course Duration and Fee Structure
The training duration is of 15-20 hours through once-a-week sessions. The total fee is Rs. 7500/- plus GST.
Course Features and Eligibility
- Members and Students of ICSI or ICSI executive program or higher are eligible to enroll.
- The course is conducted online mode on the ICSI LMS portal, held through Live interactive webinars, recorded versions, and PPT’s.
- The candidate has to go through MCQ-based tests and project reports to excel in this course.
Recommended Read: Business Accounting and Taxation Courses in Chennai
7. Udemy
Udemy aims in creating new opportunities for individuals and workplaces by providing a platform to hone their skills and keep them up to date with the emerging technologies to excel in a constantly evolving world.
Udemy offers multiple courses in the area of GST, which is accessible from anywhere in the world. The best feature of this platform is that it provides time flexibility to finish the course for the candidates who cannot attend in-class sessions.
It also offers a few free GST courses to acquire basic knowledge regarding the topic. GST practitioners and accountants, compliance executives, students with CA/CS/CMA/MBA degrees are eligible to take the course.
Modules
- IGST
- Time and Value of Supply
- Input Tax Credit
- Registration and Tax Invoice
- Accounts and Records
- Refund
- TDS and TCS
- Ecommerce
- Transitional Provisions
- Eway Bill
- Assessment and Audit
- Recovery
- Inspection, Search, and Seizure
- Offense and Penalties
Recommended Read: Business Accounting and Taxation Courses in Coimbatore
Frequently Asked Questions
Q. Who can apply for the GST certification course in Madurai?
To take the GST certification courses in Madurai – graduates, chartered accountants, company secretaries, financial and tax experts and freshers are eligible to apply.
Q. How much does a GST professional earn?
The annual salary can be roughly between 4.5 to 6.5 lakhs in India. But, it varies depending on an individual workplace, experience, and skill set.
Q. What is the application procedure for GST practitioners?
- Log on to the official website.
- Click on the ‘Register Now’ option.
- Select the drop-down list displayed as GST practitioner.
- Select the appropriate state and district.
- Enter the legal name same as the PAN database.
- Enter the personal details.
- Enter the OTP after clicking on proceed.
- Applicants receive a temporary reference number to the specified email ID.
- ‘My Saved Application page is displayed.
- Then, fill in the general details like applicant details, professional address.
- ‘Verification Page’ appears after saving the details.
- To submit the form, click on submit with DSC formal.
- Submit the e-signature.
- Finally, click on send with EVC option.
Q.What are the four types of GST?
- Integrated Goods and Service Tax (IGST.)
- State Goods and Services Tax (SGST.)
- Central Goods and Services Tax (CGST.)
- Union Territory Goods and Service Tax (UTGST.)
Q. Which exam do we have to pass for a GST practitioner?
NACIN (National Academy of Customs, Indirect Taxes and Narcotics) conducts an exam for Goods and Service Tax practitioner aspirants.
Conclusion
To sum it up, the introduction of the GST law may have merits and demerits. But on a brighter note, this transformational tax reform has made a remarkable change in the country.
The initiative is helpful for the government, economy, businesses, and consumers. Hopefully, the above list of GST certification courses in Madurai has made it easier for you to choose the best to start your journey. These courses are not only informative but also offer the flexibility of learning anywhere and anytime.
