While reading the newspapers you might have come across the word Income Tax Raids very often. To know about what is Income tax raid one must understand what is Tax? No. we are not discussing any IT raids here but what is Tax? What is its Type? What is GST? And the impact of GST in our day-to-day lives. If you wish to gather thorough information on the GST Online Course with Certificate this article is what you need to go through. Let’s find out about the GST Certification Courses in Thane.
What is Tax?
Tax is a required contribution (financial charge) from a Person (person, company, firm, and others) to the government to cover expenses committed in the common good. A tax is a monetary charge imposed by the government on a taxpayer for the benefit of the citizens of the country.
Tax revenues support government functions such as public works and services like roads and schools, as well as programs like Social Security and Medicare. Taxes are imposed on whoever suffers the expense of the tax, whether it is the taxing entity, such as a business, or the end customers of the business’s products, according to economic theory.
Payroll taxes, federal and state income taxes, and sales taxes are all things to think about when it comes to accounting.GST Online Course with Certificate will give you a brief about the same.
Types of Taxes
Taxes are mainly divided into two categories
- Direct Taxes
- Indirect Taxes
Direct Taxes
A direct tax is one that an individual pays to the government directly. Income tax, land tax, poll tax, corporate tax, wealth tax, gift tax, spending tax, and capital gains tax are some of India’s direct taxes. Direct taxes are computed according to the taxpayer’s ability to pay, which means that the higher the taxpayer’s income, the larger the tax burden.
Indirect Taxes
Taxes that are passed on to another company or individual are known as indirect taxes. Indirect taxes are levied on a manufacturer or supplier, who subsequently passes the tax on to the customer. The sales tax on jewelers and consumer items is a common example of an indirect tax. Sales tax, excise duty, VAT, service tax, and GST are examples of indirect taxes.
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Further to this below are the various sorts of taxes that are widely used:
- A percentage of one’s income is paid to the state or federal government as income tax.
- Employers withhold a percentage of an employee’s wages and pay it to the government on the employee’s behalf to fund Medicare and Social Security programs.
- A percentage of a company’s profits is taxed by the government to pay federal programs.
- A sales tax is a sort of tax that is levied on certain goods and services and varies depending on the jurisdiction.
- A property tax is a sort of tax that is levied on the basis of the value of land and other property assets.
- Tariffs are import tariffs established with the goal of bolstering domestic industries.
- The rate of the estate tax is applied to the fair market value (FMV) of property in a person’s estate at the time of death; the total estate must exceed state and federal government standard
What is GST?
GST (Goods and Services Tax) is an indirect tax levied on the provision of goods and services in India (sometimes known as a consumption tax).For tax collection purposes, goods and services are separated into five tax slabs: 0%, 5%, 12%, 18%, and 28%.The GST Online Course with Certificate helps to understand each slab thoroughly.
The tax went into force on July 1, 2017, when the Indian government implemented the Indian Constitution’s One Hundred and First Amendment. The GST replaced several different taxes imposed by the federal and state governments such as the central sales tax, purchase tax, surcharge and CESS, excise and customs duty, VAT, services tax, and so on.
Types of GST
The government introduced four types of GST to address India’s complicated system, which is listed below.
- CGST (Central Goods and Service Tax)
The Central Government is in charge of collecting CGST revenue. The CGST includes the following central taxes and levies. Excise Duty, Additional Excise Duties Countervailing Duty, Central Excise Duty Services Tax, Central Sales Tax, Excise Duty,
- SGST (State Goods and Service Tax)
The State Government is in charge of collecting SGST revenue. The SGST absorbed the following state taxes: Luxury Tax, State Sales Tax, Entry Tax, Entertainment Tax, Levies on Lottery
- IGST (Integrated Goods and Services Tax)
When commodities are transported from one state to another, the IGST is levied. The central government would collect the money, which will then be divided between the Union and the states in the manner authorized by Parliament or the GST Council.
- UGST (Union Territory Goods and Services Tax)
It is charged by the individual Union Territories and is abbreviated as UGST or UTGST. They would be levied on UGST in GST transactions carried out by India’s Union Territories. Union Territories include the Andaman and Nicobar Islands, Lakshadweep, Dadra and Nagar Haveli, Chandigarh, Daman, and Diu. In terms of apportionment and payment requirements, this tax is equivalent to the SGST.
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Pros of GST Certification Courses in Thane:
1. Business development
Manufacturers in India may notice a reduction in the amount of stress they face as a result of taxation. Taxes may be cheaper, which will almost certainly expand the breadth of a healthy business environment.
2. Tax uniformity throughout the country
The government would be able to create a stable platform for both Indian and international enterprises by unifying GST rates across the country. Such methods have the potential to turn India into a lucrative investment destination.
3. The power of simplicity
The best thing about GST is how straightforward it is. There’s no need to be concerned about multiple taxes. One tax, one nation. GST can help individuals comprehend the taxation system better by combining multiple indirect levies.
4. Increase in the number of taxpayers
GST has the potential to increase the number of taxpayers. This could counteract the negative consequences of the tax rate reduction.
Cons of GST Certification Courses in Thane:
1. A powerful Center
One of the disadvantages of GST is that it will empower the government at the center. The Center will determine how much revenue must be divided by the states. States may have to bear a loss as a result of tax sharing. When states require it, the Center has the authority to raise rates.
2. There will be losses in some states
States that rely more on their goods than on their services will now be required to split their money with the federal government. Because they don’t have any service to compensate, this could put a large dent in their wallets
3. Consumer-unfriendly
GST will collect money from consumers that were previously not collected from manufacturers through the tax credit system. Customers will undoubtedly be dissatisfied as a result of this.
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What is GST Certification Course?
The Ministry of MSME offers a GST Certification Course (Micro, Small and Medium Enterprises). The purpose of the training is to help businesses, Chartered Accountants, Management Accountants, Company Secretaries, and other professionals improve their understanding of the Goods and Services Tax by providing specialized, up-to-date information, improving problem-solving and analytical skills to improve decision-making and imparting skills and knowledge required for self-employment and employment in the industry.
Who should be educated?
The GST Certification Course in Thane is open for the following:
- Chartered Accountants, Certified Management Accountants, Company Secretaries, and law students, among others.
- Professionals transitioning from finance to taxation.
- Finance Experts who seek to meet their tax-related professional requirements.
Learning Outcomes from the GST Online Course with Certificate
- Understanding the Difference Between Goods and Services Concepts about taxes
- Learn about Goods and Service Supply.
- Find out what Time of Supply and Value of Supply is.
- Invoicing and the Input Credit Mechanism: An Overview
- Non-Compliance Accounts and Other Records Returns and Payment of Tax Consequences
- Ratings for E-Commerce and Compliance
- Understand the role of tax return preparation.
- GSTN and GSP knowledge
- The Auditing Process: An Overview
- Find out more about Demands and Recovery.
What are the benefits of GST Online Course with Certificate?
When you join a GST Certification Courses in Thane, you will receive numerous additional benefits in addition to improving your knowledge of many parts of the Goods and Service Tax.
- Professionals in the CA and CS fields will benefit greatly.
If you want to work as a Chartered Accountant, a Company Secretary, or a taxation specialist in the future, this course is for you. It will assist you in gaining in-depth knowledge of tax structures while also increasing your work chances.
- Increase in average wage
Imagine being able to confidently negotiate a pay increase of 15-20% if you are GST certified. You have expertise that few others have, and you will work for the company’s benefit. So go ahead and enroll with the GST Certification Courses in Thane.
- Job opportunities are increasing
There are no drawbacks to taking a certification course. Companies nowadays are more interested in people who have completed courses. You will have more career opportunities as a result of your GST Certification.
- Begin your consulting business
You can work as a financial advisor if you don’t want to work for or for a corporation as a tax or accounting consultant. Many people have trouble filling out tax papers and seek help from professionals. Many people will now rely on you and seek your counsel if you have a GST Certification.
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After completing the GST Online Course with Certificate, you will have a variety of career options.
1. Taxation Manager
Almost every medium-sized business requires someone to manage its tax affairs. Depending on the scale of the company, it is a senior job. A major firm, for example, will have distinct managers responsible for direct and indirect taxes. In addition, the manager will have a compliance team and a consultant to handle complex concerns. A person with good representation abilities is also necessary for the event of departmental notices and other legal concerns.
2. Taxation Research Analyst
This is a profile for huge businesses. They have intricate transactions and structures. They require someone to investigate the deal from a tax standpoint. A signing blunder might convert a profitable deal into a loser. As a result, tax professionals are employed. Every new contract and transaction is thoroughly examined for tax implications. It is contained in the contract in the event of any prospective obligation.
3. Reconciliations
A person will reconcile sales, purchases, and input tax credits that are needed for giant organizations. Inputting incorrect info into a GST come might need serious consequences. Any GST payer is typically duty-bound to try the subsequent reconciliations.
- Sales are recorded in books with sales on GSTR one and GSTR 3b.
- Taxes paid on sales are reported.
- Incorporate tax credits into your buying.
- With GSTR 2b, 2a, you’ll be able to claim Associate in nursing input step-down.
- With the bills and merchandise received, enter the step-down.
4. GST Compliance Professional
A small firm cannot afford to rent a full-time worker to handle GST compliance. They rent compliance consultants to assist them with their compliance. Even major corporations source compliance since they do not wish to stay a large crew of workers. Professionals who are informed of the problem will apply compliance.
They’re not needed to report back to anyone during this state of affairs. They need the power to figure severally. GST Certification Courses in Thane will make you a GST Compliance Professional.
5. GST Consolatory Services
For numerous transactions, companies wish consistency. In applying, it’s troublesome to use and perceive the law. It’s necessary to possess an intensive understanding of not simply the GST law, but additionally different applicable laws. Legal precedents and case law might also impact choices.
6. GST Law Professional
Receiving notices could be a common incidence. GST could be a spick-and-span law that may take some obtaining won’t too. Legislative expression is understood in an exceeding type of ways that. As a result, each payer and therefore the department is forced to travel to court. During this case, the involvement of proceedings skills is significant. To the extent permissible by law, they have to safeguard the interests of taxpayers.
7. GST Instructor
The GST is roofed in most university curricula. Several professionals receive GST coaching to upskill their professions. This brings up a brand new region wherever you’ll be able to attempt your luck. People who are GST-qualified would possibly operate within the fields of coaching and education.
Top 8 GST Certification Courses in Thane
1. IIM Skills
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IIM Skills is one of the most well-known educational institutions, offering comprehensive courses in content writing, digital marketing, CAT training, and GST Certification Courses in Thane all over India. The GST Certification Courses in Thane at IIM Skills is a 4-week live online GST training program that includes 16 hours of lectures, practical assignments, and hands-on learning.
For a better understanding of the subject, the course also gives free E-Books, Invoicing Tools, and Software. IIM Skills provides you with free lifetime access to their recorded lectures. IIM Skills has educated a large number of students from various fields and helped them become successful individuals.
They’ve successfully upgraded their skills and advanced in their student’s careers. The training will benefit you whether you are a student, a job seeker, an experienced financial analyst, a lawyer, or someone who wishes to return to work after a break.
Fees:
The GST Certification Courses in Thane would set you back at Rs 2900.
The following items are included in the course curriculum:
- GST’s Foundations
- GST’s Advantages
- The Reverse Charge Mechanism of TDS and TCS
- GST Credit and Debit Notes Composition Scheme
- Auditing and Evaluation
- GST Refund
- Supply: When, Where, and How Much
- GST abrogation
- The Legislation That Regulates GST Implementation
Course fee – Rs 2900 + GST
Other Courses
- Financial Modeling Course
- Business Accounting And Taxation Course
- Digital Marketing Course
- Content Writing Course
- Technical Writing Course
- Advanced SEO Course
2. Excel Computer Institute
Excel Computer Institute is one of the best GST Certification Courses in Thane, a leader in the field of software education. It not only offers training programs but also ensures that you will be employed in the software sector. It has given more than 30,000 students a higher level of education as well as a job for a better future after 20 years of achievement.
The students receive financial education from highly qualified professionals and engaging instructors. Fundamentals of accounting, bookkeeping principles, practical accounting using Tally, MS-Office with Advanced Excel for Accounts and Audit, Direct & Indirect Tax, Online-banking, and Financial Management knowledge are all covered in this certified GST accountant training.
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Syllabus for GST Practitioners:
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- GST Briefing
- SGST Acts and Regulations
- UGST Acts and Regulations
- CGST Acts and Regulations
- IGST Acts and Regulations
- States are compensated under the GST Act.
- GST Acts and Rules in Every State
- Useful with both real and simulated data.
GST Practitioner Training Duration: The course will last 6 months and will include both theoretical and practical sessions.
Exam & Certification for GST Practitioners:
The National Academy of Customs, Indirect Taxes, and Narcotics (NACIN) have been permitted to hold an examination for confirmation of GST Practitioner membership.
3. IBA Training
The Institute of Business Applications (IBA) is a well-known training organization that offers both IT and non-IT courses. GST, IFRS, Financial Modeling, IND-AS, VBA Programming, SAP ERP, and many more industry-relevant courses are among the company’s comprehensive portfolio.
IBA is regarded as one of India’s highest-quality education service providers. IBA offers practical training in the GST Certification Courses in Thane and other cities of India. The new Finance Act 2021, encompasses all Acts, Rules, Sections, and all practical features.
It involves things like registration, returns, assessments, and audits, among other things. It also offers post-course assistance. In reality, this training will not only help you improve your practical abilities, but it will also keep you up to date. For further information kindly download the brochure from the website.
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4. ICA Education Skills
In the year 2000, ICA Education Skills was founded. Â ICA Education Skills provides GST Certification Courses in Thane but it is a component of the ICA Kolkata, which is based in West Bengal. They have franchises all over India, with the Thane institute being one of them. In Thane, ICA Education Skills provides the best GST certification education. The course lasts roughly 30 hours and is divided into eight lectures.
Features:
- Under the GST Act, there are some key definitions.
- GST (Goods and Services Tax) payment to the government
- Entries relevant to the Goods and Services Tax (GST) should be passed.
- Determining the taxable value of services
- Calculation of the Goods and Services Tax to be Paid
- The training is tailored to the needs of the industry and involves hands-on experience. With a professional certificate, one can advance in their career. Job support is provided on a one-to-one basis.
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5. Lakshya
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Lakshya is a government-approved and ISO-certified institute that provides GST Certification Courses in Thane along with practical training. They’ve been in the business since 2009. The training programs are meant to be practical for both students and working people.
Skilled trainers offer intensive courses in the fields of accounting, taxation, Tally, and the Goods and Services Tax (GST). Individuals can use these programs to improve their skills and knowledge to improve their work opportunities and prospects. Lakshya also provides online training.
They offer a variety of printed study materials, as well as an online student portal and a batch size of eight students for more personalized attention. For company tie-ups and employment placements, it also has a dedicated placement team.
6. ITAA
The institute is run by experts with over 15 years of experience in accounting and retirement planning. In 2016, it began in a modest space. They went on to open franchises in additional cities over the next few years. Currently, Maharashtra has seven training centers and Gujarat has two. Taxation and accounting courses were available, as well as SAP Fico and Digital Marketing courses. GST Certification Courses in Thane are available at a reasonable cost.
You’ll find about the below here
- Individual Income Tax
- Goods and Services Tax (GST)
- Accounts are finalized.
- Preparation of an MIS report
- Statutory Laws are laws that are enacted by the government.
The institute is built on a foundation of bright, engaging classrooms and industry-experienced teachers. There are classes where you may get hands-on experience. CITI, Bosch, Accenture, HITACHI, Godrej, Genpact, Flipkart, Deloitte, Bata, BookmyShow, Bloomberg, and BSE have all hired ITAA graduates. For GST certification courses in Thane, contact them.
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7. TaxAc Consultancy Pvt Ltd
TaxAc Academy is a prestigious organization in India dedicated to the development of professional accountants. TaxAc’s sole purpose is to help professionals expand their abilities by providing a comprehensive selection of practical and job-oriented courses in accounting, finance, taxation, advanced Excel, MIS reporting, payroll, and other areas.
The institute offers GST Certification Courses in Thane along with practical workshops and training in which you will make entries from real bills in Tally, perform various tax computations, make real-time tax payment demo, and file online returns for various taxes such as VAT, Service tax, TDS, GST, Income Tax, and so on.
The following is covered in the Syllabus:
- GST Concept
- GST Registration
- GST Input Tax Credit (Set-off)
- GST Liability Calculation
- GST E-Payment
- GST return e-filing – GSTR 1
- GST return e-filing – GSTR 2
- GST return e-filing – GSTR 3
- GST return e-filing – GSTR 3B
- GST return e-filing – GSTR – 4
- Late payment interest
- Penalties for late return submissions
- Return filing deadlines
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8. NIFM(National Institute of Financial Markets)
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NIFM is a non-profit organization that promotes (National Institute of Financial Markets). The National Institute of Finance Markets (NIFM) is one of the top five research institutions in the banking, insurance, financial, and stock market industries. They provide specialist courses in the areas of accounting, banking, and financial markets.
The GST Certification Courses in Thane covers the entire GST cycle, from registration to claim, and goes through the idea of the reverse charge in depth. This course will not only improve your knowledge of GST law but will also teach you how to read and refer to it in the future.
Tally ERP 9 was used as part of the NIFM GST training session. Gain a comprehensive understanding of the GST Law, including its application, compliance, and enforcement, to further your career. NIFM’s GST Certification course is an added value to your resume. The course will last two months.
There is a charge of Rs.25, 000 plus GST. For more information on the GST certification courses in Thane, visit their website. To upgrade your Knowledge, the above GST Online Courses with Certificate can opt.
Frequently Asked Questions
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1. What is the purpose of the GST online training?
GST (Goods and Services Tax) online training course demonstrates a clear grasp and practical features of GST or Goods and Services Tax, as well as receiving visual acknowledgment for this expertise.
2. What services does a GST practitioner provide?
A GST Practitioner must provide the following services: Offline services such as the creation of e waybills for various types of goods transportation will be provided. On behalf of the registered taxable person, will provide data of outbound and inbound supplies and file GST returns.
3. What can a GST practitioner expect in terms of remuneration?
A GST Practitioner can make between $35,000 and $55,000 per year. With more knowledge and experience, you can expect to earn even more money and have more opportunities.
Conclusion
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You must carefully select the course that best meets your needs and those of your employer. If you’re a working professional, for example, choose a course that offers instruction on weekends or holidays. As a result, I strongly advise you to enroll in one of these courses. Once you’ve passed the GST course, you’ll be ready to move on to the next step. You will notice a significant difference in the way you manage your finances now. This will help you achieve your business or professional objectives more effectively.
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