GST is the law that consolidates all indirect taxes. GST provides many advantages in the long term. The participants need to have a basic knowledge of the subject. This course is for the members of ICAI. The course goes for ten days. The readers have two options as follows: Weekdays and weekends are the two options. The GST course is for additional knowledge, and should not be mentioned as a qualification after the name. A blog is the collection of information about the GST course to educate the readers about the GST course.
Course structure:
GST and Indirect taxes committee of the ICAI works under ICAI. The certificate course on GST is exclusively for the members. The syllabus is as follows: constitutional syllabus related to GST, nature of supply, time of supply, place of supply, supply and levy of GST, classification, valuation, input tax credit, exemption, reverse charge mechanism, registration, foreign trade policy, e-way bill and e-invoicing, maintenance of books of account and records, returns and payments, refund, assessment, inspection, an audit by tax authorities, search and seizure, offences and penalties, demand and recovery, appeals and revision, annual return and reconciliation statement advance ruling, finalisation of accounts, miscellaneous provisions, ethical practice and professional opportunities, and relevant provisions of allied laws and ethical practice and professional opportunities. The course is for ten days. The fee is 14,000 for Chennai, Mumbai, Delhi, Kolkata, Bangalore, Hyderabad, Pune, Jaipur and Ahmadabad. 12600 for other cities. GST is applicable for manufacturing products at a slab rate of 18 per cent. GST is applicable for the advertisement of products. GST is not applicable for shipping and forwarding charges. The National Academy of Customs Excise and Narcotics (NACEN), the training institute of the Government of India, had invited the industries, trade and stakeholders to join the GST training accreditation programme of NACEN. Some of the privileges of GST system are listed below:
• GST is the replacement for service tax, value-added tax, and exercise duty.
• GST reduces the cascading effect, and ultimately it reduces the burden.
• GST encourage the MSME industries and increases the GDP ratio.
• GST is increasing transparency and reducing corruption.
• GST will increase productivity and efficiency.
• GST has reduced the unemployment problem and increased the salary of the individual.
Course objective:
GST is a destination-based, multi-stage, and comprehensive tax. It is the sum of almost all indirect taxes. It excludes only a few indirect taxes. GST is a consumption-based tax and not a production-based tax. For intra-state transactions, CGST and SGST are levied. For inter-state transactions, both IGSTs were calculated. The course objective is to improve analytical skills, decision-making skills and specialised knowledge about GST. Tax rates have cascading effects. It starts from the production level and goes to the distribution level. The tax rates are like a burden to the manufacturer and other distributors. So, reducing the cascading effects of the tax is beneficial for the manufacturer and distributors.
Women empowerment through GST courses:
GST courses will benefit finance graduates and professionals. There are GST courses that offer the Tally and GST knowledge together. Candidates who have passed the 12th standard can enrol on this course. In this course, students learn about basic accountancy, ledger entries and company creation, purchases, invoices, bank reconciliation, GST transactions, and inventory management.
Qualities of GST practitioner:
A person can become a GST practitioner by qualification or by experience. He is having a post-graduation degree or its equivalent in commerce, banking, law and management. Foreign degree recognised by an Indian university. He is qualified as a chartered accountant or company secretary or cost accountant. He has experience with the commercial tax department, central board of excise and customs, the government of India, and the department of revenue. The employee who worked as a group B gazetted officer is eligible to become a GST practitioner. GST practitioners need to have the following qualities:
• Communication skills
• Time management
• Organisational skills
• Analytical skills
• Problem-solving skills
• Honesty
• Conceptual knowledge
• Comprehensive knowledge of GST
What is the salary after completing the GST course?
For a graduate, the GST course will help get a monthly salary of 30,000 per month. The average income of a GST practitioner with experience in India is 2.1 lakh per year. GST practitioner without experience gets 0.2 lakhs to 3.5 lakhs per year. Chartered accountants get three to four lakhs per annum as starting salary. After getting professional experience, they get six to seven lakhs.
Conclusion:
GST courses are offered by computer institutes, tally-partnered institutes and professional institutes. ICAI, ICMAI and ICSI offer GST courses for members. GST knowledge helps employers working in low and high-profile jobs. GST course increases the salary of the individual from 15 per cent to 25 per cent. Small, big, private and public companies charge GST. Deloitte added 25 per cent to 30 per cent as GST employees. This headcount help to profit more from Indian clients and other global programs.
