The word ‘tax’ evokes mixed reactions among taxpayers. To manage and deal with taxes is just not everyone’s cup of tea. GST has become a ubiquitous part of the business world in India. It has transformed the fiscal fabric of India like never before. GST implementation in India has opened up a plethora of employment opportunities.
Being GST savvy is an added advantage for those wanting to be in the finance sector. Come and explore the GST certification courses in Mumbai to enhance employability in the corporate world.
What is GST?
GST is an abbreviated form of the terms ‘Goods and Services Tax’. GST is the new tax applied to the supply of goods and services. It has neatly replaced many indirect taxes like VAT (Value Added Tax), excise duty, service tax, central sales tax, entertainment tax, luxury tax, etc. It is based on the ideology One India One Tax. This new tax reform has been implemented in India as of 1st July 2017.
Earlier, the structure of indirect taxes was source-based and had a cascading effect of taxes on goods. Under the GST regime, things have undergone a sea change in the way indirect taxes are levied.
Now there is a uniform tax structure. GST is levied at multiple stages and is destination-based. GST has managed to effect the transformation of the country into one marketplace.
The Goods and services tax can be categorized into 3 components. These are
- CGST (Central Goods and Service Tax)
- SGST (State Goods and Service Tax)
- IGST (Integrated Goods and Service Tax)
Benefits of Implementation of GST
- Introduction of a simpler tax system
- Elimination of cascading effect of taxes at various supply chain stages to a considerable extent
- Reduction in the cost of goods and services as a result
- Uniformity in prices of goods in the entire country
- More visibility of the tax system
- Increase in job opportunities
- It is a step closer to having a single tax in the entire country
- Replacement of multiple indirect taxes by a single tax, so the need for multiple compliances is reduced
- Increase in the target consumption of goods and services
- Supplier-Receiver transactions have become more transparent
- The setup of a centralized tax surveillance system helps to prevent tax evasion
- Widening of the taxpayer base with inclusion of many unrecognized sectors under the tax net
- Reduction of interactions with many indirect tax authorities for the payer
- Regularised the market economy
- Increased efficiency of the supply chain sector due to reduction of tax documentation
- Digitalization of varied businesses
- Increase in GST revenues
Now you have got a faint idea about GST. You may have come across the term ‘GST Practitioner’ somewhere while seeking information about GST. In the next section, you can get to know briefly about the GST practitioner.
Who is a GST Practitioner?
GST Practitioner (GSTP) is a qualified tax professional who serves as a conduit between the GST System and a taxable person. Based on all the relevant income-related documents shared with them, they help the taxpayer in:
- Registration of the taxpayer in the GST system
- Return filing
- Refund Claim filing
- Cancellation or amendment of registrations
- Other GST compliance processes
GST Certification Courses in Mumbai
GST has unlocked a wealth of job opportunities for those aspiring to be finance and tax professionals. The requirement for manpower well versed in concepts of GST and skilled in implementing GST has been on the rise. Are you prepared to cash in on this golden opportunity?
If the answer is yes, then it is worth proceeding to read the remaining portions of this article. Due to the insistence of GST implementation for businesses, you may be curious to know how to upskill in the GST domain and be part of the GST implementation revolution.
GST Practitioner will be the ideal career to embark on in the field of GST. A GST Certification Course can help you to get upskilled. GST Certification Courses in Mumbai are provided by many institutes.
These courses aim to improve employability by providing comprehensive and working knowledge on Goods and Services Tax and compliance processes involved. A GST practitioner has undergone a GST certification course recognized by The Ministry of MSME (Micro, Small, and Medium Enterprises).
Who is Eligible for the GST Certification Course?
Any one of the following are eligible for the GST certification course:
- Graduates of any stream – Arts, commerce, science, professionals like Chartered Accountants (CA), Company Secretaries (CS), Certified Management Accountants (CMA), engineers, lawyers, business owners, etc.
Advantages of GST Certification
There are many advantages of being GST certified for finance professionals as well as the firms that employ them. Some of the key benefits include:
- GST certification provides a competitive advantage due to skill up-gradation in accounts, finance, banking, and taxation
- Improved decision making capability developed due to focus on problem-solving and analytical skills
- Chances of getting employed are higher due to increased job opportunities in the GST domain
- GST professionals stand to gain a 15% – 25% average hike in salary because of their rising demand
- GST professionals can help improve the operational efficiency of the organization
- Provides confidence to take up independent consulting
Career Options after this Course
The insistence on the implementation of GST in India is bound to increase and has created a huge job potential. Curious to know where these jobs are? Manufacturing, banking, logistics, automobile, retailing, finance, e-commerce, services, etc. are the key sectors that have job openings.
To have a smoother and better implementation of GST, companies are going on with recruitments for tax consultants and accountants who are GST certified. The small, medium and large enterprises are all in the GST implementation spree. This would be an ongoing demand in the future too.
You can take advantage by undertaking one of the GST certification courses in Mumbai. This will equip you with the required skills and certification to boost your career. Based on educational qualifications and an industry-recognized GST certification, the following are a few job profiles that are in demand in the GST field:
- Accounts officials
- Accounts Manager
- Chartered accountants
- Tax Consultants
- Tax professional
- Management consultants
- Software savvy accountants
- e-Filing experts
- Content Writers in the GST domain
- GST course trainers
The pay scales are quite attractive for a GST Practitioner. An accounts manager as a GST Practitioner draws an average annual salary of INR 4.9 – INR 6.4 lakhs. For different profiles as a GSTP, the salaries are competitive enough. This information should motivate you to make a resolve to seek out GST certification courses in Mumbai.
Advanced your knowledge with Profound Business Accounting and Taxation Courses in Mumbai
After the brief overview on GST, you can go through the listicle below of GST certification courses in Mumbai.
1. IIM Skills
IIM Skills is a reputed institute providing various courses designed as per industry standards. The courses have been created to meet the requirements of skilled human resources in various fields.
They have established their supremacy through their Digital Marketing Course and Content Writing course. To provide outstanding training in the accountancy and finance domain, IIM Skills offers one of the best GST certification courses in Mumbai.
The Master GST Course would be ideally suited for those keen on pursuing a career in the finance or taxation domain. GST being an integral part of business today, everyone should be familiar with the concepts of GST. Needless without saying, anyone will gain a good understanding of GST by enrolling in this course. If you have an inclination towards finance and data analysis, you can check the top financial modeling courses in Mumbai here.
- Evolution of GST and Impact on Businesses
- The GST framework and structure
- Criteria and Process of Registration under GST
- Invoicing Rules and Regulations under GST
- Composition Scheme under GST
- Input Tax Credit and Payment under GST
- Reverse Charge Mechanism
- Returns Filing under GST
- E-way bill under GST
Key Features of The Master GST Certification Course
- Job oriented course aimed at providing a wholesome understanding of GST ranging from inception, implementation, compliance, and all relevant aspects of GST
- 16 hours of interactive online training
- Focus on the practical application of GST to gain familiarity with all GST processes including registration to return filing and refunds
- The syllabus is in sync with the latest developments in GST
- Teaching Faculty are Industry experts
- Case studies to reinforce learning and understand GST impact on businesses
- Provides various GST Invoicing Tools, Software, and ebooks
- Equips you with confidence for hassle-free management of multiple Clients.
- Certification on course completion recognized by the Government of India.
- Provides access to the GST Practitioners Community
- 24 by 7 online support and query resolution
Reviews and Testimonials
For a more detailed analysis, go through the IIM SKILLS GST Certification Review
Check out their Technical Writing Course
For more details, visit their website: iimskills.com.
The Master GST Certification Course provides the solid foundation required for a promising career in the future by empowering you with the required skills. Get GST ready with their GST certification course.
The Institute of Chartered Accountants of India is one of the largest accounting bodies in India. With its headquarters in Delhi, this reputed institution caters to various sectors like education, professional development, accounts, auditing, and ethical standards. It also offers one of the GST certification courses in Mumbai.
- Definition and Concept under GST
- Levy, Time of Supply, Place of Supply
- Input Tax Credit, Transitional issues
- Registration, Returns, Payment, Refund
- Assessment, Offences, Penalties
- Advance Ruling, FTP, Customs Duty
- Ethical Practice
- Overview of Compensation cess to States Act, 2017
- Exemption List of goods and services
Key Features of Certificate Course on GST
- Only those chartered accountants who have registered with ICAI can enroll in this course.
- Course duration is 10 Days having the option of selecting weekdays or weekends.
- Coaching by indirect tax experts.
Fees for the Course
For metros Delhi, Kolkata, Chennai, Mumbai, Bangalore, etc, the course fee is INR 14,000/- plus GST. For other cities, the fee is INR 12,600/- plus GST.
If you want to learn from the comfort of your home premises, then opt for the Best Online GST Courses
Initiative Institute of Professional Training & Research (IIPTR) was set up in 2008 in Mumbai. It is a renowned institute offering various courses in the finance and revenue management domain.
They are among one of the institutes providing GST certification courses in Mumbai. The courses offered include Govt. GST Practitioner Pro, Advanced Diploma in GST, GST Practitioner course, etc.
Govt. GST Practitioner Pro will include the practical aspects of GST laws and practical implementation taking the latest amendments to GST laws.
- Introduction to GST
- Types of GST
- Exemptions under GST
- GST registration
- Concept of supply, place, and time of supply under GST
- Place and time of supply
- Invoices types and formats
- Computation of GST payment
- Recording GST liability, ITC
- Reverse charge mechanism and compliance
- Filing GST returns
- E-way bill
- GST Computation scheme
- Tax computations, payments, and reports TDS
- GST Annual Returns
- GST Audit
Features of GST Practitioner course
- Course duration varies from 2 – 5 months
- Highly qualified faculty members with 20+ years of experience
- Up-to-date course curriculum, with in-depth coverage of GST topics
- A mix of multiple teaching methodologies
- Life-long support for our students
- Access to the IIPTR Learning management system for 1 year
- Simplified yet robust course modules
- Daily session refreshers
- Industry-recognized certification
- Support to enroll for the Government certified GST practitioner exam
The Govt. GST Practitioner Pro course fee is INR 11800/-.
You can also explore more options with the Most informative GST Certification Courses in India
NIIT, a pioneer in the field of education technology is involved in Skill and Competency Development. Its mission is to build skilled human resources to meet the global manpower requirements. The company, set up in 1981, has a global presence in 30+ countries.
They have a vast array of world-class skill development training programs for students, professionals, institutions, and corporations in Information Technology, banking. finance and marketing verticals.
Intending to make students well-versed in GST concepts, NIIT has introduced GST certification courses in Mumbai. They include an introduction to GST and GST using Tally.ERP9.
Students having Commerce as a subject at least up to class XII level and possessing a fair understanding of the taxation system will be eligible for this course.
- Concepts of GST
- Concept of Supply of Goods and Services
- Time and Value of Supply
- Returns and Tax Payment Concept
- Concept of Input Credit Mechanism
- GST Implementation and its impact on the taxation system
- Non-compliance implications
- (ISD) Input Service Distributor
- Compliance Rating
- Tax rate structure and tax refunds
- Audit process fundamentals
- Accounts and Other Records
- More about Demands, Recovery, Appeals, Revision
- Process of Transition to GST
- Overview of Input Service Distributor (ISD)
- Job Work and Non-Resident Taxpayer
- GSTN and GSP
- Payment Liability
Features of Introduction to GST Course
- The course duration of 20 hours
- Classroom-based training
- Teaching faculty with rich industry
- Theory classes combined with practical training
- Tie up with Tally hence Tally Online Certificate Exam also provided
- Industry-recognized certification.
Contact the institute for details on course fees.
5. Henry Harvin
Henry Harvin is a renowned Edtech company with a global presence in over 97+ countries. They are focused on career and competency development and offer a wide range of upskilling programs.
They are pioneers in the field of academics and corporate training offering versatile training programs. They also deal in consulting services and assessments. Their GST course is one of the popular GST certification courses in Mumbai.
- Concepts of Supply, Place, and Value of Supply, Export and Import, E- waybills
- Process of Registration, Overview of the Input Tax Credit, ITC04
- Overview of Transitional provisions, Job work
- Accounts Records, Tax Payments, Invoice, Time of Supply, Returns, Refunds
- Litigation Management, Process of Audit and Assessments
- Offenses and Penalties
- Overview of Demand and Recovery
Features of GST Practitioner Course
- 32-hours of live online sessions
- 100% computer-based practical classes
- Guaranteed internships
- Qualified trainers with industry experience
- 24 by 7 support and lifetime access
- Access to Recordings.
- Bootcamp sessions
- Live projects
- Guidance for Interview clearance
- Job placement assistance
- Gold membership of the Finance Academy
- Free study material worth INR 500
- Introduction of Case studies
The GST Certification Course fee is INR 12500/-.
Frequently Asked Questions
Q-1. Who is eligible to become a GST Practitioner?
Ans. Anyone who meets the following criteria is eligible to become a GST Practitioner:
- Is a citizen of India
- Has a sound mind
- Has not been declared insolvent
- Has not been convicted of an offense with imprisonment of two years or more
Q-2. What is the average salary of a GST practitioner?
Ans. The average salary of a GST Practitioner would vary depending on the job profile and professional qualifications. It could average between INR 4.0 – INR7.0 lakhs per annum.
Q-3. What are the average fees of the GST course?
Ans. The course fees for a reliable GST course can vary between INR 5000 – INR 15000 depending on the course contents. In some cases, the certification examination fees are also included in the charged amount.
Make use of the golden opportunity that GST has created. You will not regret your decision to embark on the GST journey. Many institutes are offering GST certification courses in Mumbai in online learning and classroom learning modes.
Scrutinize the course offered by each institute carefully to zero in on the course that meets your requirements. The right institute can provide you with the best training to help become a GST practitioner. The GST certification will add value to your resume. It will catapult your career to greater heights.