This article covers gst training faqs students ask before enrolling for GST Training Course. Goods & Services Tax or GST is levied on goods and services which replaced other taxes such as value added tax, service tax, purchase tax and excise duty. This simplified the way of collecting taxes.
Having a knowledge of how GST works is important as it can help increase your salary by 15-25% on an average. This course is mainly for graduates, Chartered Accountants, Company Secretaries, Finance and Taxation professionals and those who want to grow in this field.
Top 10 GST Training Faqs for aspiring GST practitioners
1. Why Enroll in a GST Certification Course?
Most businesses need professionals who are proficient in GST management and reconciliation. A GST Certification course brings many benefits to the individual. Firstly, it can help you get a salary hike of 15-25% on an average.
Secondly, it opens many doors for individuals and allows them to get recruited in organizations.
2. What are the 5 Top GST Course Providers?
There are numerous GST courses available for students. Some of the best recommended courses are:
- 1. GST & TDS by ICA Edu Skills – ICA Online, the flagship venture of ICA Edu Skills offers various accounting and finance courses for its students. One of its popular courses is GST & TDS that covers fundamentals of Accounting such as payment of taxes to the Government, pass entries relating to GST, computation of taxable values of services, calculation of GST payable, basic concept of TDS, TDS using Tally and many more. In addition, 7 simulation software are provided by ICA Online to give a hands-on experience of how GST works. This acts as an impetus for the individual’s recruitment.
- 2. GST Practitioner Course by IIM Skills – IIM Skills provide 4 week intensive live training which teaches the fundamentals of GST. It offers 16 hours of lectures with practical assignments helping students to understand the concept better.
- 3. Henry Harvin – The certificate program offered by Henry Harvin is that of 32 hours. With this, you will learn how to export data from Tally and be conversant with Excel to prepare for GST returns.
- 4. Institute of Chartered Accountants – It is a premier Accounting Institute which has received global recognition in various domains such as Education, Professional Development, Accounts and Auditing. The duration of the certificate course is 72 hours and the advance course been that of 40 hours.
- 5. ClearTax – ClearTax has been known for building TaxCloud and GST Software to simplify its filling. It offers 8 hours of intensive training with teaching concepts such as New Returns Forms, Filling Process Returns for Sugam and Sahaj, introduction to New GST Returns and many more.
3. What is the Syllabus of GST Course?
GST concepts and theories must be well understood by the individual for them to score well in the exams. The following concepts are covered under the GST Certification course:
||Input Tax Credit
|| GST Valuation
|GST Time of Supply
||GST Moot Court
||GST Customs Duty
||GST Advance Ruling
||GST Ethical Practice
The Goods and Services Tax was one of the biggest changes that India has ever witnessed. However, possessing theoretical knowledge is not enough. It is important to know GST filing works as employers look for individuals who are aware of its functionality.
4. What is the Scope of GST Training in India?
Once you complete the course, many job opportunities will be available for you. You can earn a salary of 3 Lac- 7 Lac per annum, with which years of experience and knowledge will help you increase the salary. Here are a list of the job titles that you can get:
- A. Taxation Manager – Every organization requires an individual to ensure that its taxation matters are paid heed to. A person who wishes to be hired in this position must have knowledge of compliance of GST, how the portal works and MS. Excel and MS.Word.
- B. Taxation Research Analyst – A Taxation Research Analyst specializes in reviewing tax liability and tax practices for an organization.In addition, they prepare returns and review necessary documents. They are responsible for filling a completed return before the State deadlines.
- C. Reconciliations – An individual who takes the role of reconciliations ensures that both
- I. GST Compliance Practice – A GST Compliance Practice analyzes the impact of Profit and Loss, Balance Sheet, Cash Flows and advises the impact of GST regime on the cost and supply of the goods and services.
- II. GST Consultancy Practice – A GST consultant is a professional in the matters of taxation. Whether it’s preparing tax returns, or filling them, the Consultant is proficient in these. Not only that, the individual checks for GST compliance as per the tax laws.
- D. GST Practitioner – A GST Practitioner files GSTR-1 and GSTR-2, quarterly returns, GST payment on behalf of the employer.In addition, they must claim for GST return and if necessary an application or amendment of GST registration. GST Practitioners are required to enroll with the State or Central Authority to be eligible for registration. Not only that, they can be appointed as Authorized Representatives and act on behalf of the taxpayers.
Do remember that during interviews, emphasis is placed on the understanding of GST and the practical knowledge one possesses.
5. What are the Fees of the GST Course?
The fees of the GST Certification course can vary from institution to institution. However, on an average, it can cost between 5,000- 10,000 and will cover all the fundamentals of GST you need! Although it’s important that before you enroll, you do a thorough research on the course modules, syllabus, certifications and the likes.
6. What is the Eligibility Criteria to enroll for GST course?
The GST course can be taken by Graduates belonging from any stream, Chartered Accountants, Certified Management Accountants, Company Secretaries and many more. Not only that, working professionals moving from the finance domain to taxation. Any individual who wishes to grow in the taxation profession can take on this course.
7. Is the Organization a Registered One?
ICA Edu Skills is a registered training organization. The certification is recognized by organizations which acts as an impetus in your resume. However, if you choose to pursue it from an organization that has no credentials whatsoever, your qualification may not be recognized at all and all your hard work will be in vain. Most peers and students recommend ICA Edu Skills for the numerous placements it has offered to its students. It has gained a reputation in terms of resume building, mock interviews and 7 simulation software which has made it rank the number one vocational institute.
8. Does the Organization Have a Full Time Assessment Team?
If you ever struggle with the course, it can be very disheartening to know that no support team exists. But, with ICA Online, such worries can go out the window as this organization has a Query & Answers Team which provides support round the clock. There are several doubt clearing sessions along with live classes, which you can take from the comfort of your home. The teaching is simple yet effective as complex concepts are explained in a very fun and interactive manner! Why look for anything else, when you have ICA Edu Skills ready to kickstart your career!
9. Are There Any Hidden Costs?
No, there are not any hidden costs involved with ICA Edu Skills. All costs are transparent and are explained properly by the Academic Counselors. Many organizations tend to charge for support, material such as books, assessments, late submission fees, issuing certificates and the list continues! But, with ICA Edu Skills, you can be rest assured as there are no hidden costs, no matter whatsoever!
10. Is GST a Good Career Option?
GST is believed to be a good career option for many. Due to the introduction of the new tax regime, a GST certified professional is the need of the hour. Hence, they have a better possibility of earning a lucrative income in whatever organization they are recruited at.
Now that you have understood which GST courses are best, don’t look any further than ICA Edu Skills.
It is recommended by working professionals and numerous students whose careers has been built by this renowned institute. With ICA Edu Skills, this dream becomes reality! So, don’t think and take charge of your career!
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