Bhopal has grown as a significant industrial hub in central India in recent decades. Its industries are growing as a major source of employment in the city. Bhopal is a significant contributor to the economy of Madhya Pradesh, making it the best place for doing a GST certification course.
We have listed out some of the best GST certification courses in Bhopal which you can refer to for understanding and learning the impact of taxes on the revenue of our country.
What is GST?
GST, or Goods and Services Tax, is a tender law that went into force on July 1st, 2017. To eliminate the cascading effect of taxes, the unified, multi-staged law consolidates several indirect taxes such as VAT, excise duty, and luxury tax, to name a few.
In Short, the GST law applies to the consumption of all products and services at the fixed rate established by the Government of India. The Goods and Services Tax (GST) is a destination-based consumption tax in which the state’s portion of taxes on interstate commerce is paid to the state that is home to the final consumer.
The Gst Tax Structure in India has a 4-Tier Structure.
- CGST – Central GST
- SGST – State GST
- IGST – Integrated GST
- UTGST – Union Territory GST
What is Supply?
Supply is considered a taxable event to charge tax under GST. Tax liability occurs at the “time of supply of goods or services.” As a result, assessing if a transaction falls under the concept of supply is critical in determining GST’s applicability. There was no concept of Supply in the previous indirect tax scheme.
The point at which indirect taxes were assessed differed according to tax regulations. The ‘excise duty’ was levied on manufactured items when they were removed from the factory. For services delivered, a ‘Service Tax’ was charged based on certain principles known as the point of taxation laws. A VAT would be levied on the value of products sold or services provided. The current structure combines all taxes into a single taxable event.
Section 2(17) defines “business” as “any trade, commerce, manufacture, profession, vocation, etc., whether or not performed for a monetary advantage.” Any activity or transaction that is supplementary or auxiliary to the aforementioned specified activities is also considered a business.
Furthermore, any activity done by the Central Government, a State Government, or any local body as a public authority shall be interpreted as a business. It should be noticed from the foregoing that any activity mentioned in the definition for the advancement or promotion of a business could constitute a supply.
Scope of Supply
The term supply has a broad meaning in that it encompasses any type of supply of products or services or both, including the sale, transfer, barter, exchange, license, rental, lease. It also involves service import. The model GST law also allows for the inclusion of some non-cash transactions within the scope of supply.
What is Indirect Tax?
As soon as we see the word, indirect tax, there arises a doubt in our minds, what is an indirect tax and direct tax? Direct tax is levied on the income of a person, whereas indirect tax is levied on products and services that he buys.
Indirect taxes include excise duty, customs duty, and Value-Added Tax (VAT). In India, there are various sorts of indirect taxes. However, following the adoption of GST, all of these indirect taxes were integrated into a single tax for Indian citizens. We shall look at the many sorts of indirect taxes in India:
This tax is levied by an entity in exchange for the service they provide.
When a corporation in India manufactures a product or good, the tax charged on those goods is known as the Excise Duty. The manufacturing company pays the tax on the items and then recoups them from its customers.
VAT (Value Added Tax):
This is levied on any transportable object sold directly to the buyer. VAT is made up of two parts: Central Sales Tax, which is paid to the Indian Government, and State Sales Tax, which is paid to the corresponding State Government.
Custom Duty Tax:
This is a tax that is placed on imported and exported goods to and from India.
Stamp Duty tax is levied by the State Government whose property is located in that state. This tax is payable on the transfer of any immovable property within India.
Entertainment Tax is levied on the purchase of video games, movie shows, sports activities, arcades, amusement parks, and other similar products.
Securities Transaction Tax:
This tax is charged when securities are traded on the Indian Stock Exchange.
Before undertaking the GST certification courses in Bhopal, it will be helpful if we understand the basics of finance and taxes of our country.
Who is Applicable for GST?
Businesses and traders who have a turnover of over 20 lakhs must pay GST. Those whose annual sales are less than 20 lakhs need not mandatorily register for GST.
Need for GST Certification Course in Bhopal
GST certification courses in Bhopal are useful for graduates, CAs, company secretaries, financial and taxation experts, and persons seeking a job related to this field. It broadens career prospects and fosters skill development. The Ministry of Micro, Small, and Medium Enterprises(MSME) provides the GST certification course.
The main aim of the GST certification course is to help the accountants, chartered accountants, certified management accountants, company secretaries, and businessmen to improve their knowledge of the Goods and Services Tax by providing specialized and logical skills for acquiring employment in the industry.
Who can Take up the GST Certification Course?
- If you are a business owner or manager who wants to understand how the GST regime will affect your company’s operations then you can take the GST certification courses in Bhopal or any location near you.
- If you are a finance professional who wishes to learn more about the GST registration transactions on which you work, then the GST certification course will help you understand the concepts.
- If you are a lawyer or chartered accountant who wants to advise your clients on GST-related questions and issues, then this course is of great help.
- If you are a self-employed professional or consultant who provides any type of service and wants to know how GST affects your work, then you can take up this course.
There are so many benefits that you could by joining the GST certification courses in Bhopal such as:
- It will help in elevating your salary on an average of 15%-25%.
- It widens the chances of getting employment.
- It even helps in the foundation of your own company for consulting.
- It can help in acquiring knowledge on financial and accounting skills.
- Since the implementation of GST, there has been a significant increase in the demand for GST practitioners in almost all business industries for GST management, up-gradation, and reconciliation. As more and more business industries open their doors each year, the demand for GST practitioners rises proportionally.
- More than two lakh jobs have been created across the country as a result of the implementation of GST, which requires GST management either directly or indirectly. As a result, the demand for GST practitioners has increased.
Top 5 GST Certification Courses in Bhopal
There are many GST certification courses in Bhopal, out of which, we have hand-picked a few of the best for your convenience.
1. IIM Skills:
IIM Skills is one of the top institutes that provide the best training in GST certification. The course goes on for four weeks. Assignments are given regularly, for which they provide honest feedback. Students can correct themselves and start preparing better for their GST certification.
The course is aimed at finance professionals such as accountants and tax accountants, as well as small and medium-sized business owners, newcomers, and students. They have a specialized placement cell through which they provide complete guidance to all the students.
Benefits of GST Certification Course:
- They provide freelancing opportunities for taking up a job as a GST Practitioner.
- They issue a master certificate in GST, which is trusted by most corporate organizations.
- Their learning portal has lifetime access to all the students.
- They teach the various GST invoicing tools that are used to make the work easier.
- All topics are dealt with practically rather than just theoretical content.
- They are ready to support their students anytime and provide instant support 24×7.
- The fees structure is 2900 (inclusive of GST).
- This course is entirely online and there is no need to travel long distances.
- All the sessions are recorded during the live class. This helps in recollecting the already learned lessons. As well as it helps the students who were not able to attend the live session.
- It has many positive reviews making it one of the best GST certification courses in Bhopal. Assignments are given regularly and feedback is given to every assignment that is written.
Takeaways of the Course:
IIM Skills stands out as it offers one of the best GST certification courses. The GST course is packed with a bunch of information that needs a strong base to understand all the concepts. IIM Skills is one of the best institutes that helps students in understanding basic and advanced concepts in a much easier way.
- Students develop a general understanding of the Goods and Services Tax, including its origins, compliance, implementation, and enforcement.
- Students become well-equipped to comprehend all of the nuances and finer points of GST and its overall framework.
- It is comprehending the impact of GST on businesses/organizations, particularly in terms of finances. This also assists you in rethinking and restructuring pricing under GST.
- They can acquire practical knowledge of all GST processes, such as registration, TDS compliance, return filing, and refunds.
- They develop a thorough understanding of all GST provisions to be job-ready.
Hence, IIM Skills ranks top as one of the best GST certification courses in Bhopal.
The ICAI (Institute of Chartered Accountants of India) is a statutory body for chartered accountants that has been in operation for 64 years. It is a leading accounting body that has received international recognition for its contributions in areas such as education, professional development, accounting, ethical standards, and auditing. It is currently the world’s second-largest accounting body, with its headquarters in New Delhi. It is a prestigious institute for GST practitioners.
The website contains all GST-related resources, such as ACTs, rules, and laws. There are also e-lectures and e-learning resources. There is even GST study material organized by topic.
- The ICAI Offers Two GST Courses: A certificate course and an advanced certificate c
- These courses are exclusively designed for chartered a
- The fees structure for the basic course is INR 10,000 + 18% GST whereas for an advanced course it is 14,000 + GST.
- Each batch consists of 90 members and hence the queries of each student are addressed easily.
- The softcopy of the learning materials is available on their website which can be accessed anytime within two months.
- Assessments are given regularly so that the students get to analyze if they have understood that particular topic.
- They cover everything related to GST starting from the basic introduction to the recent trends and practices that are being followed.
The course duration is for 10 days with flexible options to choose from.
Two Options are Given:
- Saturday and Sunday
- Monday- Friday
The classes on Monday- Friday are for 2 weeks from 9:30 AM -5:30 PM. ICAI has the subject matter experts handling the course to provide in-depth knowledge in subjects. Thus, it is one of the top 5 GST certification courses in Bhopal.
Take time to explore the Online GST Courses as well.
3. ICT Academy
ICT Academy is one of the finest institutes that provides premium training in GST certification across the country. Having Chennai as its headquarters, ICT Academy is one of the best institutes for training in GST because of its efficient training and popularity. National Academy of Customs, Excise, and Narcotics (NACEN), Government of India, has chosen ICT Academy for GST training. The institute is located in Chennai.
- The course duration is for 15 weeks which is split into 2 hrs/week.
- The online certificate course is for 30 hours and it has a validity of up to 60 days.
- They have an online GST Certification Programme conducted by experienced trainers and professionals.
- Candidates can gain hands-on experience with the various procedures outlined in the GST Act. This course is open to business people, CA practitioners, interns, business management students, and even government finance and accounting officials.
- They offer a 90-minute course which is a super hit as it covers all the basic concepts of GST and other tax laws related.
- The NACEN Certified course is taken for 3 days containing 15 modules and it covers the inside out of the topics in GST.
Udemy is like a one-stop-shop where you can find all the courses you need in a single place. Anything you wish to learn, you will find at least one video course in Udemy. Trainers from across the globe, teach the topics of their expertise and provide the necessary materials needed for the course.
Their GST certification courses are very effective and are viewed by many students. They cover all the needs of the students from basic to advanced level. Even if you are not satisfied with one course, you have multiple other options in hand. You can sort the courses based on rating.
The main advantage is that they even have their app that you can even view the courses whenever and wherever required. The courses are of reasonable price and affordable to all students.
Don’t end your research without looking at the 10 Best GST Certification Courses in India
5. Henry Harvin Education
Henry Harvin Education is a US and India-based Global company that provides training for students from all over the globe. Their GST certification course imparts knowledge on the GST regulations and trending practices.
The faculty crew has many years of experience and some have even been a part of news platforms such as Aaj Tak, NDTV, etc.
- They have 32 hours of live classroom sessions.
- They provide full hands-on experience to students for better learning.
- Henry Harvin is an award-winning institute and its GST certification is recognized by many companies.
- They provide great placements for up to 1 year even after course completion. The latest tools and techniques, class recordings, and assignments are all available on their portal and are accessible anytime during the course.
- The classes are hosted by experts in that domain and have delivered more than 200 keynote sessions.
- They have a self-learned classroom where students can learn on their own at their own pace.
- All the materials are provided to them with lifetime access and support.
- They also have a live-classroom session which is for INR 8999.
- Their portal is updated regularly to know the status of the availability of slots for each batch.
- Their certification is trusted and accepted by top MNCs such as IBM, HP, Accenture, SAP, etc.
Frequently Asked Questions:
- What is a GST Practitioner course?
GST certification course is designed to help accountants and businessmen in understanding the concepts of Goods and Services Tax.
2. What are the career opportunities after completion of the course?
GST certification has great value and is widely preferred by many corporations. By taking up any of the GST certification courses in Bhopal, the chances of getting placed become high.
3. Do we need to have a commerce degree to take up this course?
It is not compulsory to be an accountant or have a commerce degree to take up this course. If you are aware of the basic concepts of tax and have an interest in learning it, you are good to go.
4. How to become a GST Practitioner?
After completing the course, you will have to register yourself in the GST portal and get an enrollment certificate. Then you will have to take up an exam for a GST Practitioner for becoming one.
Hence, the essence of the article is that, with the increasing demand for GST Practitioners in the country, you can take up the best GST certification courses in Bhopal or any other area near you for enhancing your knowledge on finance, tax, and accounting, to stand out in the crowd.
Hunting for the best course is not an easy job. Thus, we have simplified your search by listing out some of the best GST certification courses in Bhopal.