Taxes are the biggest means of revenue for the government. Modifications and reforms are carried out by the government from time to time based on need. To get familiarized with the changes and comply with the provisions professionals and individuals need to get familiarized with the provisions. Proper information on these can be provided through structured courses introduced by reputed institutions.
Goods and Services Tax is one such tax that was introduced to simplify the indirect taxation systems in the country. Being a new tax professional and the public needed information on the system. Courses on the tax provisions were introduced by various institutes to cater to the need. The reasons for the introduction of the tax and some of its features have been described in the article. It also gives details of the GST course in Indore, a city that is considered to be one of the education hubs of India.
Introduction of Goods and Services Tax has been one the biggest changes in taxation systems in recent times. GST or Goods and Services Tax was introduced by the Government of India in July 2017 and has subsumed all taxes excepting a few state taxes. The tax helped to simplify the taxation system by replacing multiple taxes imposed by central and state governments. It is a sweeping tax reform meant to reduce the compliance burden on businesses and reduce the need for businesses to register for a variety of taxes.
Before the implementation of GST, businesses had to register for different taxes like VAT, Excise Duty, Octroi, Luxury tax, and Entertainment Tax. While income tax is a direct tax, GST is an indirect tax levied on most goods and service providers operating in the Indian market. The tax is, however, not levied on all businesses uniformly. Only those with a sale of goods up to 40 lakhs and service with an annual turnover of 20 lakhs would require to register for GST. However, businesses selling to other states need to register for GST regardless of turnover.
GST levied by the center is called CGST, the one levied by states is called SGST and Integrated GST is applied on interstate supply of Goods and Services and is known as IGST. Import of goods and services is also treated as Interstate supply of Goods and Services and would be subject to GST. There are different rates for levy of GST for different items.
You might also be interested in our article on GST Certification Course for Non-CAs In India
History of GST
The idea of GST has covered a long distance from concept to introduction stage. The concept was introduced in the year 2000 by the then Prime Minister of India. A task force on fiscal responsibility and Budget management suggested replacing all existing taxes with GST. The central VAT and state VAT were to be replaced with the Goods and Services Tax.
The then Union Finance minister mentioned the shift towards GST in his budget speech in 2006-07. It was initially proposed to levy GST from April 2010 onwards and accordingly joint working groups consisting of officials from state and center were formed. The recommendations of the groups have formed the basis for discussions so far.
Center, state powers to levy taxes and GST.
Currently, the fiscal powers of Center and States, given in the constitution, do not provide for any overlap. While the center has the power to collect taxes on the production of goods, the states collect taxes on the sale of goods. Taxes on services can be collected by the Center only. In the case of inter-state sale of goods the center has the power to levy taxes but these are collected and retained by the states. The states do not have any control over the import or export of goods. The imposition of GST required modification to the constitution which would permit center and states to levy GST concurrently.
Any new provision in the laws needs to be learned by professional and business persons for proper compliance and also to ensure that they are not misled by unscrupulous persons. Professionals also need to know the provisions of changes in taxation systems to effectively serve their clients. Courses on specific subjects can help to fulfill the need to gain information.
Though information on a subject can be obtained in various ways which include video and text material on relevant websites, through print or electronic books, and online courses offered by various universities and websites. Out of all the sources of information, the courses offered by reputed universities would have a definite advantage over other sources due to the quality of content offered and the method of instruction. During the COVID pandemic, a number of reputed universities started offering online courses in response to the demand for such courses, the need for upskilling, and the inability of learners to attend classes due to the lockdown.
Certain universities that already had an online presence before the pandemic found it easier to move to the new system. The course content in the online courses is often an electronic version of offline material, prepared by experts and experienced faculty members, and hence the quality of the material is assured. The medium of instruction through online lectures or discussions through email or chatrooms helps the learner clear doubts, interact with other learners and ensure proper understanding of the concepts.
The system of examinations helps the learners to check how well they have been able to absorb the content and also earn a diploma or a certificate to add to their resume if required. Online courses also help working professionals to devote time to the learning process without affecting their work and also enables access to course content from anywhere.
Since Goods and Services tax is a relatively new taxation system professionals learning about the system could derive major benefits from it as a large number of businesses are required to comply with it. Certain professionals would benefit from the course more than others, though knowledge of the new taxation system would help every professional is required to deal with consultants and sale of goods and services. The professionals who may particularly benefit by learning about GST systems are
- Individuals moving from finance to taxation
- Consulting professionals and businessmen
- Professionals wanting to develop a career in taxation
- Chartered Accountants, Certified Management Accountants, Company Secretaries, or graduates from other streams.
Learning about GST can help the professionals access new job opportunities, increase their earnings or start their consultancy.
Financial systems can often be complex and contain various provisions requiring the taxpayers to master them and apply them properly to ensure adequate compliance. Changes in systems prevalent for an extended period of time require re-learning and familiarization with the changes. The indirect taxation systems and octroi systems had been prevalent in the country for a long time and the compliance burden on the taxpayer called for a simplification of these systems.
GST course in Indore:
Over the years Indore has emerged as an important educational hub of India. Offering value-based education and a good learning environment is emerging as a natural choice for students who are serious about pursuing a quality education. Home to prestigious institutions like the Indian Institute of Management, it has a number of schools and colleges which offer a well-rounded education. Most colleges in the city are linked to the University of Devi Ahilya Vishwavidyalaya which is one of the premier universities of India.
Considering the eminence of the city as an educational and business destination, it is natural and appropriate that institutes offering courses on the Goods and Services tax should be situated here. These institutes provide educational opportunities on Goods and Services Tax in Indore not only to learners within the city but also to those from other cities in the state or the country and offer them with the opportunity to obtain detailed information about the tax system. Being an important educational hub, it draws students from different parts of India.
In addition to being an important educational hub, Indore is also an important business destination. Some reports have also said that it has surpassed a number of other cities as a business destination. Offering good infrastructure facilities has been attracting those seeking to start businesses or to set up additional branches. The prestigious educational institutes in the city also offer the required manpower to the businesses.
The businesses also generate the need for professionals and businessmen requiring information on provisions of Goods and Services Tax. The city is also being developed as a smart city which will lead to the increased eminence of the city as a destination for business and education, leading to a greater demand for courses on finance and taxation systems like Goods and Services Tax. The GST courses in Indore are offered as standalone courses and in combination with other courses like Tally.
The nature of courses differs from one institute to the other. Details of the institutes offering GST courses in Indore and the details of the courses are given below. Based on the need for standalone courses on Goods and Services Tax or those which are offered in combination with other courses the learners can select the ones which are most appropriate for them.
The list of some GST Courses in Indore is given below:
1. IIM SKILLS
IIM Skills is one of the top online training portals that offer exhaustive courses in the fields of content writing, digital marketing, CAT training, and GST courses.
The GST certification course has an in-depth syllabus that includes all the significant elements of the GST act. The 4 weeks of immersive learning helps to grasp all the significant parts of the GST process well. There is ample insight into the practical implementation with hands-on learning.
The mentors are distinguished professionals in the finance, tax, and accounting fields. They help with tips, and strategies to conduct the GST work confidently.
It is suitable for anyone who wants to learn about the GST Act. However, people from finance, math, commerce, business, and accounting background have an edge since there are a lot of mathematical concepts covered.
The GST Practitioner Master Course fee is Rs 11900 + 18% GST.
Course Curriculum Includes:
- Fundamentals of GST
- Advantages of GST
- Understanding TDS and TCS
- Reverse Charge Mechanism
- GST Composition Scheme
- Credit and Debit Notes
- Time, Place, and Value of supply
- Amendments. and Surrender Of GST
- The Laws For GST Implementation
The course is conducted online via zoom sessions and you can access the live classes from any device. Moreover, the learning management system has all the sessions recorded. You can catch up with the teachings in that particular session if you miss a class. It is an excellent course that can turn you into a prolific GST practitioner.
Contact 99 118 39503
Other professional courses By IIM SKILLS
2. GST course, Future Multimedia:
Future multimedia is a fast-growing institute offering a variety of courses. It has the faculty and infrastructure for skill development and offers training to corporates, entrepreneurs, students, and professionals through professional and vocational courses. The institute, as per its website, offers internationally accepted certifications and coursework for most of the skill development and professional courses. The faculty in the institute is experienced and has the expertise to prepare students for a professional career.
Future Multimedia offers a 60 days GST course for college students, commerce graduates, or working professionals desirous of learning additional skills. The course consists of 12 training modules taught by corporate trainers. The course starts with basic details of Goods and Services Tax and moves into advanced practical concepts including information on Goods and Services Tax in India and the world and ways of operating it. Some important features of the course are
- It provides aspiring tax professionals and accountants with the knowledge which would help them in their career and allow them to access relevant job opportunities.
- Good infrastructure to support the learning process.
- Learners can choose weekend or weekday classes
- The institute offers placement assistance
- The institute offers real-time training under the expert guidance
- Student’s learning is tested through projects, assignments, and workshops.
It would be worthwhile for aspiring learners to check the website of the institute and explore the various courses offered by the institute which can help the learners in obtaining required knowledge in different fields. Considering the variety of courses and features of the course the institute has been included in the list of institutes offering GST course in Indore.
Truecommerce is one of the oldest professional institutes of accounting in Indore and offers courses to accounting, finance, and taxation professionals. It offers certificate courses ranging in duration from 1 month to 10 months, allowing learners to select courses according to need and availability of time. The certificate courses offered by the institute are as under
- 1-month certification course in adv. MS Excel
- 2-months certification course (Tally + GST)
- 3-month certification course (Tally + GST)
- 3-month certification course in corp training (MS office)
- 3-month certification in payroll
- 4-month certification in Banking Finance
- 4-month certification in taxation
- 6-month certification course (CAFP)
- 8-month certification course (CBA)
- 10-month certification course (CFAT)
The institute also offers University courses. The courses offered are as under
- B Com (Tax)
- Diploma in Computer Application (DCA)
- Post Graduate Diploma in Computer Application (PGDCA)
The list of courses offered by the institute shows a variety of learning opportunities available to those desirous of learning. The list of courses also shows that it is amongst institutes offering GST course in Indore. The added advantage of taking the GST course from the institute is that it is combined with a course in Tally which is the most popular accounting software in India and is used by many business organizations.
Training in the use of popular accounting software, in addition to learning details of Goods and Services Tax, may give the students of the institute an edge over other learners. Learning additional skills is always an advantage for job aspirants, particularly if the skills are related to the use of popular software like Tally. However, the tally course is recommended, by the institute, only for those with knowledge of practical accounting and taxation. For fresh students, the institute recommends the Accounts and Taxation Expert course.
From the foregoing description, it would be clear that students looking for a GST course in Indore have a good option in Truecommerce institute. In order to obtain further information on the courses offered by the institute, it would help to browse the website of the institute.
4. Gupta Professional Classes
Gupta Professional Classes is one of the reputed institutes offering GST course in Indore. Established in 2017, it has achieved a reputation for excellence in education. It has a dedicated staff and a variety of products and services. It is open six days of the week from 11:00 AM to 6:00 PM, making it convenient for learners to contact them. Located strategically near Indore Gpo, it can be easily accessed by students by various modes of transport. Accessibility is often an essential consideration in selecting courses as reaching places of learning may be difficult in rapidly expanding cities. The institute is known as a GST training institute, GST tutorial, and much more. Those looking for GST course in Indore should definitely look up the institute for courses offered by it.
5. Tally Institute of Learning
Tally institute of learning is a reputed institute offering GST courses in Indore. Since 2015 the institute has been imparting education in professional courses to students. Some of the courses offered by the institute are as under
- Computer Training
- Tally Training
- GST Training
- Tally GST Training
- Computer Training Institutes for Accounting, Computer Networking
- Online Tally Training
The institute is run by experienced faculty who have the relevant domain expertise and can impart the best possible training in the subject. The courses offered by the Institute vary from short-term to certificate courses which are appropriate for students and working professionals in accounting, programming languages, hardware and networking, and web designing.
Thus, the students, in addition to learning Tally and GST concepts, can also learn another technical skill that will help them diversify. The courses are easy to follow making learning a cinch for the learners. Being a reputed institute with an experienced faculty the students would benefit from the courses offered by the institute. Experienced faculty with professional experience would help to share practical concepts required by professionals in their day to day working lives. Students looking for a GST course in Indore may check out the website and contact the institute to obtain details of the course.
6. Genuine Tally Education
Reputed as a Tally training Institute, Genuine Tally Education also has a course on GST training. Similar to some other institutes offering GST course in Indore Genuine Tally Education also offers a variety of courses besides GST. The variety of courses offers an opportunity to the learner to select other industry-relevant skills in addition to the GST course. The advantage of taking other courses from the same institute is that the learner gets familiarized with the teaching techniques and faculty while taking a course and the familiarity helps with the learning process while taking other courses. The courses offered by the institute are as under
- GST training
- Advanced Excel
- Basic computer skills
- MS office
- Sales training
- Six Sigma training
The list of training courses is indicative of the range of useful courses offered by the institute. Some of the advantages of learning with the institute are
- The size of batches is small allowing for personal attention to each learner.
- General students and professionals are taught in separate batches to allow for a better learning experience to professionals as they are familiar with the basics which might need to be explained to general students.
- The courses are taught by industry experts who would be able to give practical insights to the students. Such insights help general and professional learners deal with real-world professional problems.
- The courses help to build expertise by testing the learners through assessments. The assessments help learners identify gaps in learning and address these.
- The course material is detailed and covers advanced topics.
The range of courses offered by the institute and the benefits offered by it makes the institute a natural choice for many students looking for a GST course in Indore and other learning opportunities in the city. It can be a one-stop solution for many learners.
Q. How much salary is apt for a GST practitioner?
A GST Practitioner can earn anywhere from 3lacs-6lacs per annum. You will get more options as and when you start to gather some experience.
Q. What are some of the topics covered in an intensive GST Course?
Some of the main topics covered in the GST Course are Framework, Structure of GST, Invoicing, RCM, E-way Bill, Returns filing, and many more.
Q. Which top institutes offer the Best GST courses online in Indore?
IIM SKILLS. Taxguru, ICAI are just some of the most reputable names for online GST courses in Indore. They offer a vast curriculum along with additional features to help boost the confidence of people appearing for GST exam.
Considering the need for every citizen and business to contribute to the growth of the nation by paying taxes it is essential to build knowledge on tax provisions and modifications made from time to time. The knowledge gap created by new taxation systems or modification to existing taxation systems can be addressed through focused courses offered by various institutes.
Businessmen and tax professionals can take advantage of these courses. Since the Goods and Services tax has made it easier to comply with tax provisions by combining multiple taxes, it is all the more important for businesses to give an appropriate response by familiarizing themselves with its provisions and complying with it. Since Indore is a growing city with the unique advantage of being an attractive business destination and educational hub students, tax professionals and businessmen can take advantage of an appropriate GST course in Indore to meet their current and future needs.
The list of institutes given in the article mentions only a few of the institutes offering GST course in Indore and those desirous of learning about the Goods and Services Tax can explore all the learning opportunities available in the city based on needs and factors like accessibility, course coverage, reviews, learning experience, and other factors.