Goods and Services Tax (GST) in 2017 was introduced in July 2017, and the demand for practitioners has been rising with tremendous rates due to increased compliances that came with this tax law. This article will guide you through the key aspects of the course and the curriculum of the top 8 GST certification courses in Goa.
Several opportunities can be derived whenever such major change happens and people with technical know-how about GST are being sought after. If you are interested in getting certified for the same and looking for that particular article that contains all the relevant details, you have landed on just the right one.
The idea of the ‘single common tax’ was coined in the year 1999 by a committee of then Prime Minister Atal Bihari Vajpayee. Working closely with his economic advisory panel, he did it with the notion to renovate the entire Indirect Tax Regime of the nation and the motive of the same was to give the ease of doing business a positive and extensive shift.
This idea and process got shifted to Congress-led UPA Government wherein the then Finance Minister P. Chidambaram continued the course of giving GST a real form (till the year 2010). With BJP-led NDA coming into power in the year 2014, the process of GST taking a picture got a push when the then Finance Minister Arun Jaitley presented the GST bill.
Finally, after the bill was passed in both the houses of the Parliament, the GST bill was passed and Goods and Services Tax or GST law was launched in India in July 2017. Indeed, this tax law subsumed almost all indirect tax laws (central sales Tax, state-level Value added tax and octroi, service tax, central excise duty, additional customs duties, surcharges, etc) that existed before it was implemented, except a few state taxes (including the tax on alcohol, petrol and petroleum products, etc).
Levied at different rates of 0%, 5%, 12%, 18% and 18%, GST is a multi-staged and destination-based indirect tax (consumption tax). The genesis of GST has been quite interesting, and if you are also fascinated by the process mentioned above, you may click here to know the whole story behind it.
GST Tax law came with a substantial amount of compliances and it is not practically possible for a business to complete all of them on its own owing to the technicalities involved.
Here, GST practitioners come into the picture. They act to bridge the gap between the registered person under GST and the compliances required to be done under the tax law. Their primary role is to assist the registered taxpayers in the copious GST-related compliances.
Qualifications for A GST Practitioner
Below-mentioned factors are the major qualification benchmarks that are prerequisites for a person to be eligible to be appointed as a GST practitioner:
- Should be an Indian citizen who is financially stable.
- Must be of sound mind.
- Should never have been convicted by any competent court (not less than two years.)
Satisfying Any of The Following Qualifications Would Suffice:
- Graduate/ Post-graduate in commerce.
- Graduate/ Post-graduate in Banking.
- Graduate/ Post-graduate in Business Management.
- Graduate/ Post-graduate Business Administration.
- Holder of a degree from a recognized foreign university that has been acknowledged by an Indian University as equal to the degrees listed above.
- Chartered Accountant (CA), Cost and Management Accountant (CMA), or Company Secretary (CS) holding certificate of practice (COP.)
- Sales Tax Practitioner under old law for at least 5 years in a row.
- Tax return Preparer under old law for at least 5 years in a row.
- A retired government officer of State Commercial Tax or CBIC who had worked in Group-B rank or above (for a tenure of at least 2 years).
- Holder of a passing certificate from any examination that the government has notified for this purpose, based on the GST Council’s proposal.
Responsibilities And Duties of GST Practitioner
A GST practitioner is eligible to conduct and execute any or all of the following activities on behalf of the registered person after being permitted by the registered person:
- Filing of Returns- Monthly, quarterly, annually, and final i.e., GSTR1, GSTR3B, GSTR4, GSTR9, etc.
- Furnishing details of inward supplies & outward supplies; inward supplies being purchases and outward being sales in GSTR 3B and GSTR1 respectively.
- Depositing credit into the electronic cash ledger, if any.
- Submission of refund claim.
- Submission of application for amendment or cancellation of registration.
- Submission of intimation to pay tax under or withdraw from the composition scheme.
- Filing of application for amendment or cancellation of registration of a warehouse/ godown operator.
- Furnishing details for generating e-way bills.
- Furnishing of challan details in form GST ITC-04.
Other Responsibilities of GST Practitioner Include:
- Taking confirmation from the registered person where an application is submitted by the GST Practitioner about a claim for refund or any application for amendment or cancellation of registration.
- Preparing all statements with due diligence. However, it is important to remember that the registered person on whose behalf the return and details are provided retains responsibility for the accuracy of any particulars submitted in the return or other details.
- Using his credentials to electronically check or affixing his digital signatures to the statements he prepares.
GST Certification and Career Opportunities
GST has served numerous new career opportunities and GST practitioner is one of them with high earning capacity. As per the general industry trend and norms, the usual salary of an accounts manager starts from INR 4.9 per annum which can go as high as 6.4 lakhs per annum.
The salary structure depends upon various factors including the size and level of organization(s) a GST practitioner works for and the skillset he possesses. Mastering and sharpening the skills can raise the earning potential and also aids in creating and maintaining professional credibility.
For everything else about the GST certification course, click here.
Here Are The Top 10 GST Certification Courses in Goa:
1) GST Certification Courses in Goa – IIM Skills
Course Title: GST Certification Course
About Institute: IIM Skills is a blog-turned institute that offers several skill developments programs. The methodologies used by the institute are very industry-oriented and are directed towards creating a field-ready professional. The online classes are arranged in a classroom-like manner that has a blend of convenience and personal interaction among the students and the mentors.
Course Curriculum: The curriculum comprises 9 modules that cover basics and all fundamental aspects related to GST:
- Module 1: Concept of the indirect tax law, its origin, and comprehensive impact on various businesses.
- Module 2: It covers the framework and Structure of GST.
- Module 3: Concepts related to Registration under GST are covered under this module. It includes the criteria and process.
- Module 4: Invoicing rules and regulations are covered in this module.
- Module 5: It covers everything related to Return filing under GST.
- Module 6: GST Composition Scheme is explained in this module.
- Module 7: This module covers concepts of Reverse Charge Mechanism (RCM)
- Module 8: Rules and regulations of the E-Way bill under GST are covered in this module.
- Module 9: Payment in GST and all about ITC i.e., Input Tax Credit are covered in this module.
Features And Benefits: The course from IIM Skills comes with many features and benefits as listed below:
- Live interactive online sessions
- 100% Practical hands-on training
- Quick resolutions of doubts and queries
- Committed Placement Cell
- Freelance opportunities
- Free E-Books, Invoicing tools, and software
- Lifetime Access to the recorded lectures at no extra cost
Duration: The total length of the course is 4 weeks which includes 16 hours of live lectures.
Certification: At the successful completion of the course and clearing of examination, you’re provided with corporates’ most trusted Master GST Certification from IIM Skills which is also registered with the Ministry of MSME, Government of India.
Fees: The course is available at INR 6,490/- (and 18% additional GST) which includes the certification fee. There is an additional 10% discount on 3 or more registrations.
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2) GST Certification Courses in Goa – CAclubindia
Course Title: Advanced GST Training & Certification Course.
Course Curriculum: The course curriculum has the following coverage:
- GST Basic overview
- Registration in GST
- Composition Scheme
- Levy and collection of RCM i.e., Reverse Charge Mechanism
- ITC or Input Tax Credit
- Supply- Time, Value, Place
- Import and export
- GST Returns- GSTR3B, GSTR 1, GSTR9, GSTR9C
- E-Way Bill
- Other miscellaneous topics
Features And Benefits: The course from CAclubindia come with the following features:
- Practical classes on GSTR1 AND 3B
- Analysis on real estate, logistics including GTA & contract
- Live sessions covering the latest updates, circulars, and notifications
- Free e-book with the classes
Duration: Course has a duration of approximately 01 month of 40+ hours which includes 19 sessions with 2 hours session. In addition to that, recorded lectures for real estate, GSTR3B, and GTA analysis.
Certification: It is mandatory to give an exam after attending live classes. The certificate is issued immediately after submission of the exam. However, it takes almost 15 days for the certificate from the Ministry of MSME PPDC to be couriered. (15 days to be counted from the date of the online exam).
Fees: Course is available at INR 8,850/- which includes tax.
You may want to read an article on the Top 10 GST Certification courses in Delhi
3) GST Certification Courses in Goa – ICAI
Course Title: Certificate Course on GST.
About Institute: The Institute of Chartered Accountants of India is the largest accounting body of the nation that certifies chartered accountants who contribute to the smooth running of the financial aspects of the country. The institute has worked closely with the Finance Ministry of India in drafting and amending the indirect tax law.
This course is only reserved for those who are chartered accountants i.e., those who have cleared the final examination and it aids them in understanding the law better and thus infusing them with skills to provide better services. Also, it is one of the leading institutes to provide GST certification courses in Goa.
Course Curriculum: The course covers the following fundamental aspects of GST:
- Definition and Concept under GST
- Levy Supply-Time and place
- ITC or Input Tax Credit
- Registration and Valuation
- Transitional Issues and Returns
- Assessment and offenses
- Payment and Refunds
- FTP and Customs Duty
- Overview of Compensation Cess to States Act
- Other miscellaneous topics
Features And Benefits: The course benefits include:
- The country’s best faculty from ICAI reputed advocates, and field experts will be teaching.
- Certification from the biggest accounting body of India.
Duration: The course is for 10 days with two options:
- Option I: On Weekends (Saturdays and Sundays only) (9:30 AM to 5:30 PM.)
- Option II: On Weekdays- (Monday to Friday only) for 2 weeks (9:30 AM to 5:30 PM.)
Certification: Certificate is awarded once the course is completed post passing an examination that is conducted by the institute.
Fees: Fees for the course is as follows:
- INR 14,000 + GST (for Delhi, Kolkata, Chennai, Mumbai, Bangalore, Hyderabad, Pune, Ahmedabad, and Jaipur.)
- INR 12,600 + GST (for other cities.)
4) GST Certification Courses in Goa – Vedaysys
Course Title: Tally ERP 9 +GST.
Course Curriculum: This course covers the following aspects:
- Basis of accounting Tally
- Inventory Accounts creation and alteration
- Goods and Services Tax accounting
- RCM or Reverse Charge Mechanism
- Data security and backups
- Vouchers (Inventory, order, manufacturing)
- Bank Reconciliation
Features And Benefits: Unique features of this course are:
- Keeping diversity in mind, the course is made available in four different languages namely English, Hindi, Marathi, and Konkani.
- Demo class is available.
Duration: 60 hours (between 4-6 weeks.)
Certification: Certificate of excellence is provided after successful completion of the course.
Fees: Not known.
5) GST Certification Courses in Goa – NICE
Course Title: Tally ERP-9 with GST.
Course Curriculum: The curriculum includes:
- Accounting Transactions
- Working with Reports
- Introduction to GST
- Working with GST
Features And Benefits: Benefits and features include:
- Highly qualified staff
- Quality training
- Workshops, events, and other curricular activities
Duration: 1 month.
Certification: Certificate of completion from the institute after successful completion of course.
Fees: INR 3,000/-.
6) GST Certification Courses in Goa – The Institute of Company Secretaries of India
Course Title: Certificate Course in Goods and Services Tax.
Course Curriculum: The course provides insights into principles of GST and other fundamentals of the indirect tax regime. It also includes current developments concerning GST.
Features And Benefits: Features include:
- Highly qualified trainers
- Globally accepted certificate
- Study Material in soft copy
Duration: 5 weeks (6 hours online web-based classes on Saturday and Sunday.)
Certification: A certificate is awarded by ICSI once you pass the examination that is conducted post completion of the course. The certification is issued jointly with BSE Institute Ltd.
Fees: INR 7,500/- plus GST.
7) GST Certification Courses in Goa – Professional Accountants and Tax Consultants
Course Title: Diploma Course in GST.
Course Curriculum: Basics of GST and practical aspects of the indirect tax regime.
Features And Benefits: This course come with the features that include:
- Training by professionals
- Industry-specific teaching
Duration: Not mentioned.
Fees: INR 1,500/-
8) GST Certification Courses in Goa -NIIT
Course Title: Introduction to GST.
Course Curriculum: Following topics get covered in the course:
- Fundamental concepts
- Supply- time and place
- Input tax credit
- Reverse Charge Mechanism
Features And Benefits: This course have the following features:
- Practical use of the tax law is taught in an industry-like manner.
- The curriculum is designed to make students ready for the industry.
Duration: 20 hours.
Certification: The following certificates will be granted after the course:
- Certificate of completion by NIIT.
- Tally certification to students who clear the Tally online exam.
Fees: Not mentioned.
Frequently Asked Questions:
1) Is online mode better than offline mode?
Though the answer to this question is subjective, keeping the pandemic situation in mind and the technologically advanced modern era, taking an online course can save both time and money providing equal value as any offline course.
2) Can a GST practitioner set up his own business?
Yes! Though certification is required in both scenarios, a GST practitioner can either do a job or set up his consultancy. GST certification courses in Goa provide just the right opportunity to enter the field with professional expertise.
3) What can be the deciding factors for choosing an institution?
Curriculum design, the expertise of the instructors, assignments given, and the feedback system of the institution, and practical knowledge are some of the factors to be considered before finally enrolling for a particular course.
4) Is GST certification good for earning?
Since GST is still a fresh law, not many people are equipped with its detailed knowledge and businesses need professionals to carry out the legal compliances. GST certification provides a prospect to begin and excel in the field with just the right skillset.
From the aforementioned options, you could choose the one institution for GST certification that suits your convenience regarding mode of teaching, curriculum pattern, and fees involved! We hope that this article was able to include all the relevant details.