Were you browsing the internet to learn more about GST? Well, this article will guide you perfectly. You can now learn GST in-depth and also build a career out of it by joining the best GST certification courses in Chennai. For all Indians, GST is something that influences our daily lives whether we notice it or not, and for businesses of all scales, GST has a significant part. In this article, we will discuss GST and GST certifications in detail.
What Is GST?
GST is all about the Goods and Service tax. This tax was introduced in India in 2017 to consolidate various indirect taxes into one tax, replace VAT, and make way for a uniform tax structure throughout the country. GST is an indirect tax and therefore it is imposed on every citizen of India in one way or the other. Whenever we buy or sell goods (products) or services, there is GST involved except for very few exceptions.
GST Replaces the Following taxes Which Were Collected Separately Before the Implementation of the GST
- Duties of excise
- Central excise duties
- Additional duties of excise
- Additional duties of customs
- Additional duty of customs
- Service tax
- Cesses and surcharges
GST Also Consolidates the State Taxes and Replaces Them with One Tax
- Entry tax
- Purchase tax
- Luxury tax
- State VAT
- Central sales tax
- Entertainment tax
- Taxes on advertisements
- State cesses and surcharges
- Taxes on gambling and lottery
What Are the Types Of GST?
State Goods and Services Tax (SGST) – The tax levied by the respective state government.
Central Goods and Services Tax (CGST) – The tax levied by the central government.
Integrated Goods and Services Tax (IGST) – The tax which is shared among two states on interstate transactions.
Union Territory Goods and Services Tax (UGST) – The tax levied by the Union territory government
Who Must Learn About GST?
Auditors, accountancy professionals, business owners commerce, and economics students show interest in learning about GST. In my humble opinion, having a thorough knowledge of GST and how it works and general knowledge about taxation helps every citizen, to save taxes, to understand whether we are paying the right taxes when we purchase things, and increases consumer awareness.
As the wise say, knowledge is power. So anyone with an interest to gain knowledge can learn GST certification courses in Chennai.
Benefits of Doing a GST Certification Course:
Get well pay: If you are GST certified from a good institute, there is a high chance you will get a high salary. By opting for one of the best GST certification courses in Chennai, you will get well-skilled and that is what is required in the professional field. You can be an asset to the organization with your skills and get well paid.
You have career options to choose from: After doing a GST certification course, you will have many career options to choose from as you will be skilled well for the job roles the field offers you. You can be a Tax manager, Tax accountant, GST manager, or GST officer. It will be your choice which career path you wanna choose after the course.
Start your own consultancy business: GST-related careers are something that can be practiced as a freelancer from the comfort of your home or office, all you need is knowledge, a computer, and some skills to find clients.
Skills You Need to Develop as A GST Professional
Numeric Skills:
GST and any other taxation is primarily a number game, hence you need to be good with your numbers. You don’t have to be a math genius but you need to be accurate in the calculations you perform. However, there are tools for calculating taxation. It’s ultimately based on your input and derivations.
Communication And Language Skills:
GST is a tax levied by law, and the language is too technical. You must have command over the technical and legal languages and must also have the ability to translate them well to your clients in simple terms.
Problem-Solving Skills:
The calculation of tax for transactions may not always be simple. The process can be complex sometimes and can involve multiple logic. Hence the patience, attention, and clarity of the professional are mandatory. These skills also help GST professionals to arrive at tax-saving advice for their clients.
Time Management:
Staying on time and staying organized becomes inevitable for a taxation professional. One has to meet the deadline of multiple clients and there can be multiple deadlines if the tax professional is handling different things related to tax. Re-prioritising and organizing the tasks helps in the effective workflow.
Attention:
The tax professional must be effective in the eagle’s eye approach and the bulls-eye approach, the big picture, and the specific transaction have equal importance.
Career Options of a GST Professional
After you finish learning GST certification courses in Chennai, you have many career paths to choose from. Let me enlist a few options below.
Tax Manager:
Tax managers are professionals who specialize in the tax code and help companies to minimize their taxes. They can be employed by public accounting firms, corporations, or government agencies. The job entails preparing tax returns, interpreting the tax code, and advising clients on how to avoid paying more taxes than they should.
Tax Analyst:
Tax analysts are responsible for determining the best way to file taxes on behalf of their clients. They also determine the best tax strategy suitable for a client’s future investments and goals. Tax analysts analyze their client’s tax situation and prepare the necessary forms, such as tax returns, estimates, or other documents that are required to comply with central and state laws.
Tax Accountant:
Tax accountants manage and calculate taxes for individuals, businesses, and other organizations. They review financial statements or other records to determine what types of taxes will be owed. They then prepare a return. They are generally found in various industries including tax consulting, public accounting, government agencies, and more.
GST Officer:
A GST officer is someone responsible for administering the goods and services tax (GST) This includes assessing and supervising the tax payable on transactions and issuing tax invoices. The role of a GST officer is to ensure that all transactions are correctly taxed according to law. The officer is appointed by the government of India.
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GST Trainer:
A GST trainer is someone who trains students and professionals to calculate, assess and file GST. Apart from training individuals, GST Trainers also get hired by big firms and companies to provide training on the GST system, its amendments, and changes. They are responsible for the knowledge transfer of the system and its implementation and application.
Apart from having in-depth knowledge of the GST portal and knowing how to use it, and having a deep understanding of how it works, they must be able to answer employees’ questions clearly and concisely.
Tax Reconciliation Accountant:
Tax reconciliation is the process of cross-checking and comparing the income recorded on the books of accounts to the income reported in the tax returns. The process is similar to bank reconciliation which is done as a part of accounting, except for the fact that tax reconciliation is done by adding taxable income and subtracting the non-taxable to maintain the accuracy of tax payments.
Professionals with knowledge in accounting and taxation are hired for this position. The primary responsibilities of a tax reconciliation accountant are investigating and organizing financial statements, calculating taxes, and inspecting statements of accounts.
GST and Taxation Executive:
Someone who has great knowledge of direct and indirect taxes files GST returns and TDS of the company provides inputs and handles queries from various statutory departments.
GST Legal practice:
Like every other law, companies may receive notices from the GST Department. They can be GST-related lawsuits due to space for interpretation of the law in various ways, and companies may and can exercise their legal rights to contest. If you are someone with interest and knowledge in law and Taxation then legal practice is the way for you to go.
Top 5 GST Certification Courses in Chennai:
1. IIM SKILLS
IIM SKILLS is India’s one of the top leading institutes offering high-quality GST certification courses in Chennai. The GST Practitioner course at IIM SKILLS has a distinctive curriculum that meets the present standards of the finance industry. Here you will get 100% practical training. So if you are searching for GST certification courses in Chennai, the IIM SKILLS GST Practitioner course can be the best fit for you.
GST Certification Course Curriculum:
The course curriculum has nine modules that initially help through the fundamentals of GST and end with the practical application of GST.
- The Genesis and concepts of GST and its impact on businesses (Module 1)
- The framework and structure of GST (Module 2)
- Registration under GST: Criteria and process explained (Module 3)
- Invoicing in GST (Module 4)
- GST returns filing (Module 5)
- Composition scheme under GST (Module 6)
- Reverse Charge Mechanism (Module 7)
- E waybill under GST (Module 8)
- Input tax credit and payment in GST (Module 9)
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Why Choose IIM SKILLS:
- Certifications after course completion
- You will get freelance opportunities
- You will become job ready
- Course Fee is affordable
- You will get well-equipped with the nuances of GST and the overall framework
- Hands-on implementation and 100% practical learning
- Lifetime access to LMS
- 24/7 online support
- Training provided by leading industry experts
- Learn from the comfort of your home
Course Name: GST Practitioner Course
Course Duration: 1 month
Course Fee- 2,900 + 18% GST
Course Mode: Online
Other Top-notch Courses Offered by IIM SKILLS:
2. FITA Academy
FITA (Focus’d IT Academy), one of the best GST certification courses in Chennai, is a leading placement and Training company/institute that is managed by IT Veterans. FITA Academy offers excellent training programs. The course curriculum here is drafted by qualified and experienced experts in the industry which guides you to learning GST from its basic concepts. You can consider FITA Academy while looking for the best GST certification courses in Chennai.
Why Choose FITA Academy
- Expertly designed course curriculum that deals with the present Income Tax Act of GOI.
- Interactive training sessions
- Regular sessions to brush up your skills in GST
- Professional training in Goods and Services Tax by industry experts
- Certification after successful completion of the GST course
- 100% placement assistance to eligible students after course completion that helps them land their dream job
Course Name: GST Training
Course Fee – You can check their website for these details
Course Mode – Hybrid
Recommended Read: GST Certification Courses in Vizag
3. Indian Institute of Skill Development Training
Indian Institute of skill Development offers goods and service tax courses that cover all the practical aspects of GST. So if you are looking for GST certification courses in Chennai then IISDT can be a suitable option for you. The course offered by them provides practical learning of GST that you can learn from your home.
The learning procedure is quite simple here as you get all the study material once you register yourself for the program. After the completion of the course study, you can appear in their online exam. Further, you will be provided with the course certification which is considered as your diploma certificate in GST that will help you to prospect for job opportunities as per your area of interest in the industry.
Why choose the Indian Institute of Skill Development Training
- Learn from the comfort of your home
- Online study material makes the course more flexible for you to learn anytime
- Lifetime verification and validity of the course certificate
- Government-authorized certification
- Free job assistance
Course Curriculum:
- Introduction to GST
- Input tax credit and payment of GST
- Statistical data and descriptive statistics
- Probability and probability distribution
Course Name: Certificate course in Goods and Service Tax
Course Duration: 60 Minutes
Course Fee: 2,000
Course Mode: online
Recommended Read: GST Certification Courses in Kolkata
4. Institute of Company Accountants:
Institute of company accountants offers a GST course which can be a suitable option for you if you are looking to do GST certification courses in Chennai. ICA’s GST practitioner training and certification course cover all the practical aspects of goods and service tax.
The specially designed course curriculum and course certification which makes you a certified GST practitioner help you to understand the day-to-day challenges of GST. Here you get trained by industry experts to become a successful GST practitioner.
Why choose the Institute of Accountants:
- Become a certified GST practitioner
- You get printed study material to study anytime
- Understand practical aspects of GST from industry experts
- Doubt resolution during and after training
- Learn to complement GST using software
- Post-training support from the trainer
Course Name: GST practitioner training and certification course
Course duration: 2 months
Course mode: offline
Recommended Read: GST Certification Courses in Hyderabad
5. ISEL Global:
ISEL Global is an international organization that provides executive learning. It helps aspirants for career progression guided by global professionals who are certified in production management, operation management, project management, and many more.
ISEL provides one of the best GST certification courses in Chennai which is committed to delivering the best practical learning experience of GST to its students. ISEL offers a GST course named GST Practitioner course with an extensive curriculum that meets with the current updates of goods and services Tax regulations.
This course is introduced by ISEL Global in association with MSME, Government of India which imparts practical aspects of GST including its registration, recording of goods and transactions transaction, and in-depth accounting. The main objective of this course is to make students understand and observe the new GST fundamentals in India and to help them become GST experts.
Why choose ISEL Global?
- Get access to 35+ hours of high-quality e-learning content and study material
- Learning material delivered and specially designed by industry experts having years of experience
- Get offline tools like excel offline tools, GST study notes, and a user manual guide
- You get GST updates (if any) via e-mail
- The course completion can be done earlier also and you can appear for the certification exam
- You get an official GST Practitioner certificate after passing the examination
- Live and interactive online sessions that you can attend from the comfort of your home
Training and technical support available via email
Course Curriculum
The course curriculum for the GST Practitioner certification course at ISEL Global is designed in the following 9 modules:
Module 1- Taxation and GST basics
Module 2- GST concepts and basic
Module 3- GST registration
Module 4- GST invoicing
Module 5- GST returns
Module 6- Input tax credit
Module 7- GST valuation
Module 8- GST legal provisions
Module 9- Miscellaneous
Module 10- GST Practitioner certification exam
Course Name: GST practitioner certification course
Course Duration: 3 Months
Course Fee: 7,600
Course Mode: online
FAQs
Q1. Are there any prerequisites to join GST certification courses in Chennai?
Goods & Services Tax does not require any kind of prerequisites. Knowledge of using computers and the internet, accountancy, taxation in general, and calculation skills can be an additional advantage. However, these skills can be learned easily in a short period.
Q2. What are the tools used for calculating and filing GST?
There are various GST calculator tools available online, and accounting software packages like Tally, Zoho books, etc have options to calculate GST based on our inputs. Filing of GST in India is done completely online through the official GST portal gst.gov.in and uploading the invoices in the corresponding GSTR forms. In case of any errors, there are options to correct them and refile the returns. Some GST returns should be filed monthly, some once in three months, and others annually. Such returns can be checked and downloaded through the GST Portal any good GST courses in Chennai cover all these topics.
Q3. Is it difficult to learn GST and become a professional GST Practitioner?
Learning about GST is mandatory for all living citizens of India, and it influences Indian lives. If you are from a commerce or economics background, then it’s really easy for you to learn GST. that being said, anyone can be trained to master GST and taxation if they have the interest and are ready to put effort. A better understanding of GST can be beneficial even personally as a taxpayer and works as a great additional skill to dive into professional opportunities.
Q4. Can I get a Job after I complete the GST certification courses in Chennai?
GST is a comparatively new taxation introduced in India, though GST has been and is being followed to date internationally. With a good understanding and skills in GST, many career opportunities are waiting for you, there are also opportunities to thrive as a freelancer and do GST e-filing services to clients immediately after the completion of the course.
Companies of all levels are hiring GST Professionals to be handing their taxation and tax-saving functions. With the right efforts and a little more learning, there are opportunities for you to land a job abroad in a very short time because more than 140 countries have implemented GST. hence GST skills have a worldwide job market.
Conclusion
The need for professional experts in the industry is getting increased day by day. After the implementation of GST in India, one can build an aspiring career in this field and become a GST practitioner. All it takes is good training, learning, and hard work. You can be a professional in this field by learning goods and service tax from the best institute. Above mentioned are the top 5 GST certification courses in Chennai out of which you can choose one that fits you well and you can get started with your journey to be a successful GST practitioner.