What is GST Certification Course?
“Goods and Services Tax”, which is popularly known as “GST tax” in India, is an all in one indirect tax which is taken by the Government of India on goods and services, by replacing all the other indirect taxes combined such as Value Added Tax (VAT), Service Tax, Luxury Tax, Entertainment Tax, and Excise Duty, etc. which earlier used to be taken individually.
The Goods and Services Tax is governed under the Goods and Services Tax Act which was passed in the Indian Parliament on 29th March 2017. The Goods and Services Act was put into action in July 2017 in India. Goods and Services Tax is a single tax that is taken at every value addition stage right from the manufacturing stage to the consuming stage. It is ultimately passed to the final consumer who ultimately has to bear the tax.
Benefits of Goods and Services Tax are as follows –
- Earlier businesses had to apply for several taxes like excise duty, VAT, Service Tax, etc. but after the implementation of Goods and Services Tax in India, all the indirect taxes were combined into one tax i.e. Goods and Services Tax. Thus, multiple tax system was removed.
- As multiple tax system is removed the systems become easy to be managed both for the business and government.
- Earlier taxes were imposed both by the Central and the State government separately, but now it is imposed under Goods and Services Tax, making it easier for the government to collect taxes.
- With the introduction of Goods and Services Tax more simplified way of collecting and managing tax was introduced.
- More transparency in the tax system is implemented.
You may want to read our article on Top GST Certification Courses in Delhi NCR
Goods and Services Taxes are of four types. They are as follows –
- CGST (Central Goods and Services Tax)
- SGST (State Goods and Services Tax)
- IGST (Integrated Goods and Services Tax)
- UGST (Union Territory Goods and Services Tax)
Central Goods and Services Tax (CGST) –
CGST is collected by the central government on intra-state goods and services, along with other GST taxes. The revenue collected by the Central Goods and Services Tax is shared between both state and central government.
State Goods and Services Tax (SGST) –
SGST is collected by the respective state governments on intra-state goods and services. It is used by the State Government where the transactions of goods and services were made.
Integrated Goods and Services Tax (IGST) –
IGST is collected on inter-state goods and services, exports and imports, etc. The tax collected under IGST is shared between both state and central governments. The CGST part of IGST goes to the Central Government and on the other hand, the SGST part of the IGST goes to the State Government where the transaction of goods and services occurred.
Union Territory Goods and Services Tax (UGST) –
UGST is collected by the respective union territory on goods and services. It is used by the Union Territory Government where the transactions of goods and services were made. It is similar to that of State Goods and Services Tax, but since the transactions are happening in a union territory it is called Union Territory Goods and Services Tax.
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So, till now we have discussed what Goods and Services Tax is, different types of Goods and Services Tax and we have also discussed the benefits of GST. By now you must have understood that the Goods and Services Tax has completely changed the taxation system of India and has become an integral part of the functioning of our country.
Since Goods and Services Tax is a very important part of today’s business and government, having a brief and specialized knowledge about Goods and Services Tax will give you a better insight into the functioning of the current taxation system of India which will further help you to improve your own analytical, problem-solving skills and decision-making skills which is crucial for employment in any industry or even if you are self-employed.
In this article, we will briefly discuss the details of the GST Certification Course and also see the best GST Certification Courses available in India that one can do and gain a piece of specialized knowledge in GST and be a certified GST professional.
What is GST Certification Course?
A GST Certification Course is a comprehensive course specially designed for fresh graduates, Chartered Accountants, Company Secretaries, Certified Management Accountants, Cost, and Management Accountants, students pursuing law and other working professionals who want to develop their decision-making skills, problem-solving skills, to increase their chances to get employed in a well-reputed company, obtain a good position and earn a rewarding future.
The GST Course mainly aims to provide individuals, accountants, managers, businessmen, and working professionals like CA’s, CS’s, CMA’s, etc. a brief and specialized knowledge of Goods and Services Tax and understanding about the current taxation system in India.
The benefits of doing a GST Course are as Follows –
It is a very professional course that adds up value to the current skills of a student, which ultimately helps to increase the salary of working professionals in any company or firm.
- Individuals doing a certification course in GST may easily find a good position job in a reputed firm or company.
- Individuals having specialized knowledge about GST can easily handle functions related to taxation in their firm.
- Individuals with having brief knowledge of GST can start their consultancy firm.
- Doing a GST Certification Course can help an individual to develop industry-specific skills related to taxation, accounting, and finance.
Who should take GST Certification Course?
Doing a certification course in GST can be beneficial for the following individuals –
- Individuals who want to make a career in the Taxation field.
- Professionals like Chartered Accountants, Company Secretaries, Certified Management Accountants, Cost, and Management Accountants, students pursuing law and businessman.
- Individuals working in taxation departments or taxation firms.
- An individual who wants to improve their professional skills or knowledge.
The best GST Certification Courses available in India is as follows –
1. GST Practitioner Certification Course by IIM Skills –
IIM SKILLS is India’s one of the best institutions that provide a four-week live online GST training along with sixteen hours of lectures and practical assignments which will help you to know the basic to advance concepts applicable in Goods and Services Tax.
Course Duration –
The duration of the GST Course by IIM SKILLS is 4 weeks.
Course Fees –
The fee of the GST Practitioner Certification Course by IIM SKILLS is Rs 11900 plus 18% GST.
Batch Details –
Following are the available batches for GST Practitioner Certification Course by IIM SKILLS
Weekdays Batch – Tuesday & Thursday – 8:00 PM – 10:00 PM (IST)
Weekend Batch – Sunday – 10:00 AM – 2:00 PM (IST)
Eligibility of the Course –
- Students having a graduation degree of Bcom or Mcom in banking, finance, law, or accounting, seeking a career in taxation.
- Graduates from Companies Secretary or other professionals like Chartered Accountants, Company Secretaries, Certified Management Accountants, Cost, and Management Accountants, students pursuing law.
- Businessmen, CEO, Tax directors, directors, traders, and income tax practitioners.
- Individuals who want to have a new startup or start a new consultancy firm.
Prerequisites before joining this course –
- Prior Knowledge or understanding of GST.
- Good communication skills.
- Having prior knowledge of MS office and Tally is more preferable.
- Decision-making skills
- Problem Solving and Logical Thinking Skills
Syllabus of the Course –
Following are some of the topics covered in the GST Practitioner Certification Course by IIM SKILLS
- Basic concepts of GST
- Framework and Structure of GST
- Registration of GST – Criteria and Complete Process
- Invoicing Rules and Regulations
- GST returns filing
- Schemes under GST
- Reverse charge mechanism under GST
- E-way bill
- Input Tax Credit and Payment
Salient features of the course –
Following are some of the salient features of the GST Practitioner Certification Course by IIM SKILLS
- Live interactive sessions.
- Well researched curriculum and techniques of teaching along with current developments in GST.
- Practical training
- On spot doubt clearing sessions.
- Certification right after completion of the course.
How to enroll for the GST Practitioner Certification Course by IIM SKILLS?
To enroll for GST Practitioner Certification Course by IIM SKILLS visit their website.
Contact – 9911839503
Email – [email protected]
Check out these other top-notch courses from IIM SKILLS
2. Certificate Course on GST by Institute of Chartered Accountants of India (ICAI) –
ICAI whose full form is “The Institute of Chartered Accountants of India” is a professional statutory body, established under the Chartered Accountants Act, 1949, by an act of parliament. It was made for regulating the practice of chartered accountancy in India. The ICAI Institute works under the Government of India’s Ministry of Corporate Affairs. The ICAI being India’s one of the leading professional institutes, is responsible to create Chartered Accountants in India.
The ICAI provides a Certificate course on GST to the members of the ICAI institute. The main objective of the GST Certification Course is to enhance the knowledge and skills of the working professionals like Chartered Accountants in India by providing them specialized and latest knowledge about the Goods and Services Tax and enhance their decision making, analytical and problem-solving skills.
Course Duration –
The duration of the Certificate Course on GST by the Institute of Chartered Accountants of India (ICAI) is 10 days
Course Fees –
The fee of Certificate Course on GST by the Institute of Chartered Accountants of India (ICAI) is Rs. 14,000 plus GST for Delhi, Kolkata, Chennai, Mumbai, Bangalore, etc. and Rs.12, 600 plus GST for other cities of India. (Examination fee included)
Batch Details –
Following are the available batches for Certificate Course on GST by the Institute of Chartered Accountants of India (ICAI)
Weekdays Batch – Monday to Friday – 9:30 AM to 5:30 PM (IST)
Weekend Batch – Saturday & Sunday- 9:30 AM to 5:30 PM (IST)
Eligibility of the Course –
The only member of the Institute of Chartered Accountants of India is eligible for this course.
Prerequisites before joining this course –
- One has to be a member of the Institute of Chartered Accountants of India
Syllabus of the Course –
Following are some of the topics covered in the GST Certification Course by the Institute of Chartered Accountants of India (ICAI)
- Definition and Concept under GST
- Time of Supply
- Place of Supply
- Input Tax Credit
- Transitional issues
- Valuation
- Registration
- Returns
- Payment
- Refund
- Assessment
- Offenses
- Penalties
- Ethical Practice
- Overview of Goods and Services Tax
- Exemption List of goods
Salient features of the course –
Following are some of the salient features of the Certificate Course on GST by the Institute of Chartered Accountants of India (ICAI)
- India’s best faculty from ICAI, Advocates, and Experts in the field of GST will be teaching.
- Certification right after completion of the course.
How to enroll for the Certificate Course on GST by the Institute of Chartered Accountants of India (ICAI)? –
To enroll in the Certificate Course on GST by the Institute of Chartered Accountants of India (ICAI) visit their official website.
3. Certificate Course on GST by Institute of Cost and Management Accountants of India (ICMAI) –
Institute of Cost and Management Accountants of India (ICMAI) is a statutory body that was made for promoting and regulating the practice of cost and management accountancy in India. It is India’s one of the premier institute which is responsible to train and create Cost and Management Accountants and maintain the CMA profession.
The ICMAI provides the GST Certification Course to the members of the ICMAI institute and also to the members of other statutory body institutes like ICAI, ICSI, Lawyers, etc., to enhance the knowledge and skills of the working professionals in India.
The objective of the GST Certification Course provided by ICMAI is to enhance the skills of the professionals and create awareness about the GST by providing them the updated knowledge on the current Taxation system of India and necessary changes that are required to be implemented in businesses and firms.
Course Duration –
The duration of Certificate Course on GST by Institute of Cost and Management Accountants of India (ICMAI) is 72 Hours
Course Fees –
The fee of Certificate Course on GST by the Institute of Cost and Management Accountants of India (ICMAI) is Rs.10,000 +18% GST and Rs. 8,000 + 18% GST (For Cost and Management Accountants Members, Cost and Management Accountants Final Passed Candidates and Cost and Management Accountants Final pursuing Students) (Excluding Exam Fee)
Exam Fee Rs. 1, 000 +18% GST
Batch Details –
Online mode
Eligibility of the Course –
Members of the Institute of Cost and Management Accountants of India as well as members of other professional institutes like ICAI, ICSI, Lawyers, and MBA are eligible for this course.
Prerequisites before joining this course –
One has to be a member of the Institute of Cost and Management Accountants of India or other professional institutes like ICAI, ICSI, Lawyers, and MBA.
Syllabus of the Course –
Following are some of the topics covered in the GST Certification Course by the Institute of Cost and Management Accountants of India (ICMAI)
- Constitutional Background of GST
- Concepts of GST
- Classification
- SAC
- Input Tax Credit
- Refund of ITC
- Returns and records
- Refunds
- Demand, Penalties, and Prosecutions
- Job Work Zero Rated Supplies
- Imports and Exports Applicability of Tax Deducted at Source and TCS under GST
- Filing of Return
- Taxable event
- Time of Supply
- Composite & Mixed supply
- Works Contract
- Exempted supply Valuation under GST
- Valuation rules Basic Procedures
- GST Registration
- Invoice and E-way Bills
- Annual Return
- Assessment Adjudication and appeal
- Advance Ruling and Anti-profiteering
- Miscellaneous Provisions
- Case studies on few Chapters involving real-life situations.
Salient features of the course –
Following are some of the salient features of the Certificate Course on GST by the Institute of Cost and Management Accountants of India (ICMAI)
- India’s best faculty from ICMAI, Advocates, and Experts in the field of GST will be teaching.
- Live doubt clearing sessions will be provided.
- Study Materials and Mock test papers will be provided to all the participants.
- Certification right after completion of the course.
How to enroll for the Certificate Course on GST by the Institute of Cost and Management Accountants of India (ICMAI)? –
To enroll for the Certificate Course on GST by the Institute of Cost and Management Accountants of India (ICMAI) visit their official website.
Conclusion
As we know that the taxation system of India was changed after the introduction of Goods and Services Tax in India. The decision of implementing GST has its pros and cons. We have seen several advantages of GST and there are some fallbacks also but we as a student must always try to focus our attention on learning.
In this article, we had a brief knowledge about the introduction of GST and we also discussed various types of GST tax in India and its benefits. This article also guides about What Is GST Certification Course and we also saw complete details about the top institutes that provide the best GST Certification Course in India. Professionals willing to develop their skills and knowledge can look forward to enrolling for the GST Certification Course provided by the top-notch institutions in India and get them certified.
