Top 9 GST Certificate Courses for Students
Goods and Services Taxes or GST was implemented on 1st July 2017 by the Government to avoid the cascading effect which was the major drawback of all the previous taxes. Here are some top GST Certificate for students who want to pursue a career as a GST practitioner.
GST is the tax levied on the purchase or sale of any commodities or hiring any service. Earlier, sales tax used to be levied on the making of any sales, which was subsided by Value Added Tax i.e. VAT. VAT too had few drawbacks. Such as different tax rates for various states, and hence it used to become difficult to calculate and keep track.
History of GST
France was the first country to implement GST. After that, many countries started implementing it. In 2014, when BJP came into power, the Government suggested the implementation of GST. Initially, it led to a strong debate between the current party and the opposition party. Then, finally, by 2015, it was finalized to implement GST. The finance ministry of India set the deadline to 2017. In August 2016, Rajya Sabha passed the bill, and after a few days, the President gave assent to the bill. The bill, then became an actor, known as Goods & Services Tax, i.e., GST.
GST is a comprehensive, multi-stage, destination-based tax. It has subsumed all the indirect taxes and is levied at all the steps of the production process. It is collected from the point of consumption, and not from the origin.
GST has five slab rates till now- 0%, 5%, 12%, 18%, and 28%. 28% being the highest.
GST is implemented both at the state level as well as central level. The Central level tax directly goes into the central body, that is the Government, and the tax that is collected is called CGST, Central Goods & Services Tax. The State-level tax is divided into half, and 50% of the tax goes to the state, and the remaining 50% goes to the central Government. It is divided into two parts, CGST and SGST, State Goods & Services Tax.
GST is also levied internationally for imports, exports, along customs duty. It is called IGST- International Goods & Services Tax.
As of now, petroleum products, alcohol for personal use, and tobacco have been kept away from the purview of GST.
There are three schedules in GST, Schedule I, Schedule II, and Schedule III, under which the goods & services have been classified. All of the three schedules come under section 7 of the CGST Act.
- Schedule I includes Activities to be treated as supply even if made without consideration
- Schedule II includes Activities or transactions to be treated as supply of goods or supply of services
- Schedule III includes Activities or transactions which shall not be treated as a supply of good or a supply of services.
Detailed explanations have been provided under each schedule representing what constitutes goods or services.
GST filing is simple, efficient, prevents the major drawback of the previous tax which is cascading effect.
There are certain thresholds for the businesses, and certain exemptions for the goods, that reduce the burden of small business owners and small service providers.
CGST Act has total sections of 174 sections comprising various topics such as composition schemes, tax returns, rebates, penalties, reports, and many more. GST is quite vast.
When GST was implemented in 2017, not only it was better for service providers and business owners, but it also generated many new employment opportunities.
Be it a Chartered Accountant, Company Secretary, a law graduate, B.Com graduate, or even those who are interested in learning, learning GST is important for all of them. When GST was implemented, it was mandatory for all the Chartered Accountants, Company Secretary, and the students who are enrolling for the course of Charted Accountants and Company Secretary and the B.Com graduates as well. Hence many webinars, seminars, and sessions were conducted by the authorities to inculcate the knowledge of GST.
Initially, there was a strong demand for the course and knowledge, and the number of people that could impart knowledge was less in number. Chartered Accountants had to go through the entire act and watch webinars conducted by superior authorities. But with the passage of time and an increase in the number of people having an interest in this area, a lot of courses have come up in the market.
There are numerous courses for better learning of GST. Be it online or offline, you have a plethora of options to choose from. Well in today’s world where coronavirus has taken over our lives, is it better and recommended to avoid offline options. Moreover, the lockdown has made everybody go digital, as they now know that this thing is not going anywhere soon and the people’s lifestyle would be changed and they would prefer online over offline for almost everything. Hence it is preferable to go for online classes considering the present situation.
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There are many GST Course for students in the market. I have listed quite a few in the points below.
1. IIM SKILLS
IIM SKILLS is a leading ed-tech institute dedicated to enriching the lives of students by providing training in highly in-demand courses. It is important to enroll in a course like GST when you are a student since upskilling will provide more options when you venture into professional life. The GST Course is especially suitable for commerce, finance, and law students.
The GST Course aims to cover all the constituents of GST including the fundamental and advanced concepts in detail.
One who has a knack for understanding taxation and finance will find the course extremely useful. The mentors are supportive, have plenty of experience, and will provide all the necessary knowledge required to excel in the GST domain.
The GST Practitioner Master Course fee is Rs 11900 + 18% GST.
Course Curriculum Includes:
Fundamental Concepts of the GST Process, RCM, E-way Bill, Registration Of GST, Value, and Supply, Advantages of GST, Enforcement of GST, among others.
Whether you plan to get into business management or decide to take up law, CA, CS, an in-depth understanding of GST will go a long way in providing you with the correct job opportunities.
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2. ICSI GST Certification Course
It provides one of the top GST Certificate Courses for students. The Institute of Company Secretaries of India is well-renowned in the country specifically for its Company Secretary course. CS course has gained recognition after the passing of the Companies Act 2013. The act gave utmost importance to the company secretaries in India. CS course also has a separate act called as Company Secretary Act, 1980. CS course is recognized for its corporate laws, securities law, economic law, labor, tax, and many other laws. Taxation is one of the main subjects.
The company secretary should well be versed in company law and securities market, as these two are considered to be the main specification for a CS. He should be familiar with all the amendments, notifications, circulars, and all the latest updates and market trends. But also, he should be familiar with other laws and topics that are required to run a company as well. Such as cost accounting, tax laws, be it direct or indirect, economic policies. Hence for a company secretary, it is very important to be well versed with the laws as well.
Hence the Institute of Company Secretaries of India came up with a course called a GST certification course where you can enroll and learn more about the course. The course is nicely structured and planned. However, there is a limitation for the students who have not enrolled for Company Secretary Course, Chartered Accountant Course, LLB, or an MBA Graduate. Hence the course is limited for these students.
It is a three-month course, which would be conducted every Sunday of the month for four to five hours. ICSI is a highly reputable institution and hence you can easily trust the faculty. They have immense knowledge and experience in this field. The course would be conducted keeping in mind the basic requirements of the students. The session would be friendly and active participation would be expected from students. 80% of attendance would be compulsory. After completion of the course, students would be required to take the exam and attain a minimum percentage of 50%. Then only their certificate would be generated.
It is a good course for the students pursuing CA, CS, LLB, or MBA. It would give an additional edge while looking out for a job and would add great value to their resume. I would suggest you take this course if you are looking for a good GST course that would add value to your skills and want to gain more practical knowledge in this field.
3. GST Course by Institute of Chartered Accountants of India
ICAI is also one of the most respectable institutes in India known for its Charted Accountant course. Chartered Accountant course is considered one of the toughest courses in India. Company Secretary is tough as well, it’s not much recognized yet. Hence CA’s are considered to have a vast knowledge and the students are mostly known for their tight schedule for studies. They have to study 15-18 hours a day to clear the subjects. Since they are tax planners and filers, hence it is obvious that they would have a thorough knowledge of taxation, both direct and indirect as well.
When GST came, their job for a while got a bit tough, as the entire thing was new. They had to first learn the subject in-depth, all the sections, limitations, and then implement it practically while filing the taxes. Practicing Chartered Accountants is required to possess a thorough knowledge about the filing of GST, composition scheme, and so on.
Within some time, ICAI came up with the course of GST where the students and members of the institute are imparted the subject knowledge thoroughly. Although this course is only limited to the students and members of the Institute. So if you are a CA student, or already a member of the ICAI, this is the one for you. The course structure is almost similar to ICSI and the sessions would be conducted online on weekends. Sessions are made lively and active participation is expected from the students. This is a three months course and the students would be required to undergo the exam to get the certificate of GST. It is today one of the leading GST Certificate Course for students.
The course fees are not much, but 7,500 INR. It is a pretty decent price given the educator is ICAI. After the session, a doubt clearing facility is also available for the students. And any sort of doubt can be communicated through email.
4. Association of Chartered Certified Accountants
ACCA is a global professional accounting body, headquarters located in London, principal administrative office located in Glasgow. It has a global reputation. They impart quality training and offer jobs as well after the course is completed. It is one of the most recommended institutes if anyone is looking to pursue accounting as a profession at a global level, then this is the institute to go for. They also provide GST certificated courses. Their training structure is impeccable. They provide one of the most comprehensive GST Certificate Courses for students.
5. GST Certificate for Students – Tax guru
Tax guru is a website that provides information regarding finance, tax laws, corporate laws, and other related topics. They are offering a GST course online which is open for anyone. This is good for those who are not from CA, CS, MBA, LLB backgrounds. The course will cover from basic to advanced levels of tax and includes filing of various tax returns, compliances, basics of GST such as what constitutes goods or services, or what is the point of taxation, precautions to minimize disputes, and many more.
Sessions are pre-recorded, but students would be given access to their management learning management system where they can clear their doubts and ask queries if any. Notes will be emailed to students in PDF form once they complete their registration process. The course is structured for 40 hours, and the validity to complete the course is 2.5 months. If a student fails to complete the course in the given duration, he would have to re-register.
After completion of the course, students would be required to appear for an examination that would be MCQ-based and will be conducted online. Once he clears the exam, the certificate will be emailed to him. That certificate can be used for pursuing jobs, as it will provide a better edge over the others. If a person wants to learn just for knowledge, such as entrepreneurs, Practicing Charted Accountant, Practicing Company Secretary or anyone who is looking to gain knowledge. The certificate is valid in India and can be beneficial for your job, degree, or a better understanding.
6. GST Certificate for Students – Online Advanced GST Training & Certificate Course by CA Club India
CA Club India is a renowned website that provides all the current information about finance, corporate affairs, study material for CA & CS students, and all the latest updates that is helpful for them. This certificate course is the most reliable one as it is conducted by MSME, Government of India.
The course structure provides for detailed understating of GST provisions with practical case studies, case laws and different judgments from different advanced ruling authorities/ High Court, analysis of the open issue, understanding of latest amendments, preparation of filing of returns under GSTR-9 and GSTR-9C.
They have a professional faculty who have rich experience and higher knowledge of the act. The fee for the course is INR 6500 and is 3 months long. They will impart practical knowledge to the students. It is one of the most highly recommended websites when it comes to anything related to CA, CS, or CMA.
7. GST Certificate for Students – Arun Jaitley National Institute of Financial Management
NIFM is the most reliable institute for financial learning. It is also one of the trusted GST Certificate Course for students today. They have launched a separate certificate course for GST where they aim to impart practical knowledge among students. The sessions are conducted online every Sunday. Attendance is 60% compulsory. The course duration is 25 hours, and after completion of the course, the candidates would be required to write an exam/assignment.
If a candidate fails to clear the exam, he would have to reappear within 3 days. He would be given a total of three attempts and no separate examination fee would be charged. The total fees for the course are 12,500 INR. The student would be given a certificate of completion of the course once he clears the exam.
The main objective of this course is to provide practical knowledge among students, and hence students would be required to file the tax returns, follow up the compliances, calculate tax, rebates, discounts, and so on, in the duration of the course.
8. GST Certificate for Students – Central Board of Indirect Taxes and Customs
CBIC is a nodal national agency responsible for administering Customs, GST, excise, service tax, and narcotics in India. Nirmala Sitaraman, Finance Minister of India, is the elected official responsible and comes under the control of the Directorate of Revenue Intelligence, Government of India. The agency is responsible for the formulation of policy regarding levy and collection of indirect taxes such as customs, GST, and excise duty. Shri M.Ajit Kumar is the Chairperson of the board. They have also launched a GST course which is minimal in cost so that they can impart knowledge to the majority of people possible.
9. GST Certificate for Students – Udemy
Udemy is famously known for its vast diversification of online certificate courses. Be it digital marketing, content learning, python, securities market, and so on, Udemy has it all. The same goes for GST as well. There are a plethora of GST Certificate courses for students to choose from and many numbers of faculty. Hence it makes it easy for you to choose wisely given a lot of options. And the best deal about Udemy is that they are not too pricey. You can almost always purchase the courses at a discounted rate.
The number of options being available leads to one drawback, that is, you have a lot of options to choose from and you end up getting confused. It gets difficult to identify which course would be the best for you and which faculty to choose from. Sometimes the number of trainers is high so it gets a bit difficult to analyze which professor would match your requirements. It is always better to go through their course details and about the teacher at first. Drop a mail if it is possible asking about their teaching style, and tell them your requirements for what exactly you are looking for in this course, and then make an informed decision.
10. GST Certificate for Students – Career India
The government of India launched a 100 hours GST course to make people understand the scope of GST, why GST is important, various provisions, compliances, tax returns, and how can you make a living by learning GST. The government of India launched this course under the Ministry of Skill Development and Entrepreneurship. The certificate course is conceptualized under the central government’s flagship scheme of Pradhan Mantri Kaushal Vikas Yojna (PMKVY).
This is not an online course but would be conducted in three cities of India, which are, Bengaluru, Bhopal, and Delhi. Since it is launched by the government under MSDE and the flagship of PMKVY, it would add great enhancement to your career. They will not only teach you practical knowledge of GST, and follow up the compliances, they also help you in seeking a job or an internship. Although this course is limited to only the following people-
- Charted Accountants
- Company Secretaries
- Graduates and Post-graduates in Commerce
- Financial Markets, and
- Business Administration
For a student from other backgrounds, they can look for other courses mentioned above.
Not much information is available on the website, but students can call on the number provided on their website to get all the details.
Courses from IIM SKILLS to explore
Conclusion for GST Certificate for Students
The above mentioned are a few of the best GST Certificate for students that have been listed out. Other than those, there are many other options to choose from. You can always go for your local classes if you have a better grasp of offline classes than online classes.
However, the limitation of offline classes is that you get a limited number of options. This is a major concern in small towns, where are hardly two-three faculty available for teaching. Through online classes, you get a variety to choose from all over India. You can take the demo at first. Nowadays, teachers are uploading a few classes on YouTube to give students a glance at their teaching style and what are they offering through the course. It is always advisable to first go through those lectures, take recommendations from your friends, colleagues, seniors, and then decide to pay for it.
GST is one of the most important topics for a commerce student right now. It is quite vast. It would take approximately 1-2 months to complete the whole act thoroughly. Hence, if you want to learn and understand GST, make an informed decision before taking up the course.
GST has generated many employment opportunities as well. You can start your career as a GST practitioner even if you are not a CA or CS, or can join a firm or a company as a partner or an employee and could start filing tax returns. The choice is yours. Hope this article helps!