India implemented GST throughout the country in July 2017 to subsume nearly all indirect taxes levied earlier. The new GST system is progressive and technologically advanced, applying new compliances and changes in the business operating systems. While many existing professionals from earlier tax regimes can handle the GST requirements, there is a high demand for professionals proficient in GST protocols all over India. As elsewhere in India, many institutes have started GST certification courses in Vizag, a fast-growing economic city, to help professionals and fresh aspirants to gain knowledge of this system and its practices.
Vizag or Vishakhapatnam is known as Andhra Pradesh’s financial hub and is the 9th richest city in India (based on GDP). It has many Central & State government-owned and Private heavy industries, Oil refineries, Seaports, and numerous industrial and business establishments.
Vizag contributes large revenue to both state and central government. It is also rich in educational facilities with four universities many colleges, and the branch of the South India Regional Council of the Institute of Chartered Accountants of India. It also has a quite developed IT sector with a Software Technology Park since 2000.
With high economic activities and a large pool of educated youths in the city, the GST certification courses in Vizag are very popular among job seekers and people aspiring for better opportunities. A paradigm shift occurred in the Indirect Tax structure with the advent of GST. The GST (or Goods and Services Tax) system is highly progressive and sophisticated.
You have to register yourself or your company in the GST portal online. You have to file tax returns online, and no manual filing of returns is allowed. All the taxes are to be paid online and e-way bills are to be raised online. Any mismatched transaction gets auto-generated, and there is no need for manual interventions.
Most returns are self-assessed. Almost every business unit – from big companies to small MSMEs – is taxable under GST and is affected by the change in taxation protocols. As a result, a big demand for tax consultants and tax lawyers has arisen to study and implement the GST requirements in your city along with a demand for software professionals for syncing your tax records and documents with the government database.
Consequently, demand for GST certification courses in Vizag has also increased. Before discussing the different GST certification courses in Vizag, let us have a look into different aspects of the GST.
GST or Goods and Services Tax
GST is an indirect tax levied on goods and services at different stages like manufacture, sale, and consumption. It was implemented in India in 2017 and has replaced most of the indirect taxes prevalent at that time, such as excise duty tax, VAT, service tax, etc. GST is comprehensive which means it is a single tax applied throughout the country – one country one tax.
GST is multi-staged, ie., it is levied at different stages along an item’s journey in the supply chain – starting from the purchase of raw materials, then manufacturing until the final sale to the customers. GST is also a tax on value addition, like VAT, and is levied on the monetary value added at each stage of value addition, up to the final sale to the consumer.
GST is a destination-based tax, that is, it is levied at the point of consumption. For example, if a good is manufactured in West Bengal and the final consumer purchasing it is in Assam, the entire tax revenue goes to Assam and not West Bengal.
Components of GST
The GST consists of three types of components, namely,
- CGST or Central GST: It is the part of the tax that the Central government collects on an intra-state sale.
- SGST or State GST: It is the part of the tax that the State government collects on an intra-state sale.
- IGST or Integrated GST: It is the tax that is collected by the Central government on an inter-state sale. The revenue is shared later with the state of the destination of the goods.
Objective of GST
- Achieving a unified system of indirect tax compliance. ‘One nation, one tax’: This helps in tax administration particularly common laws for e-invoicing for transactions, the e-way bills for transportation of goods, etc. The central government fixes tax rates and policy (in consultation with states at GST Council). It also results in better compliance by taxpayers who do not have to submit multiple return forms for central and state taxes.
- Abolition of multiple indirect taxes as in earlier tax regimes: Earlier in India, there were multiple taxes levied at different supply chain stages. The taxes were governed by different Central and state laws. The rates of taxes were also different in different states. By subsuming the multiple indirect taxes into GST, the administration by the government and compliance by taxpayers with the GST system has become easier.
- Elimination of cascading effect of taxes – ‘tax on tax’: In earlier tax regimes, there were multiple taxes on the same good or service at every stage of production. For example, excise duty on manufacture and sale tax during sell on the same product. Each succeeding tax on goods is taxed inclusive of the taxes charged earlier. In GST the succeeding taxes are only on the net value added at each stage, thus it eliminates cascading effect and also contributes to input tax credits.
- Stoppage of tax evasion: GST has a central surveillance system, e-invoices, e-waybills, and also input credit all monitored by a single GST network, that also auto-generates any mismatch in transactions. Tax defaulters are quickly and efficiently apprehended.
- Increase of taxpayer base: GST has increased the taxpayer base due to better compliance as a result of the reduction in the threshold limit for exemption from indirect taxes, availability of seamless input credit and reduction in effective tax rates, and stricter administration using technology platforms. The taxpayer base has almost doubled in the 4 years since the inception of GST from 66.25 lakh to 1.28 crore.
- Increased ease of doing business: In earlier tax regimes, you had to deal with different tax laws and different authorities which created hardship in compliance with procedures. Though you could file returns online an assessment was offline. Now with the GST system, you carry out almost all processes online, from registration to filing of returns to refunds and generation of e-way bills. This has made compliance much easy and less time-consuming.
- Increased ease in logistics and distribution under the GST system: You can reduce the time for transportation of goods with the e-way bill system, and remove interstate checkpoints in the GST regime. It cut downs not only transportation time but also the cost of transportation, such as expenses on fuel.
GST Common Portal & GSTN (GST Network)
The government has launched an official GST website called the GST Portal or GSTN portal with the web address <www.gst.gov.in.>. You can avail of its services for A to Z of GST compliance requirements, like GST registration, filing of GST returns, payment of taxes, obtaining e-invoice and e-waybill, application of refunds, and even cancellation of GST registration.
The government taxation department can respond to taxpayers through this portal for communication with taxpayers, such as approving or rejecting applications, issue of notices, etc. Thus you as a taxpayer do not need to visit tax offices for registration, submission of returns or other applications, and assessment.
The website is run by GSTN (Goods and Services Tax Network) which is an intricate IT enterprise that creates a communication and interaction medium between taxpayers, the government taxation department, and other stakeholders. A business entity once registers itself in the portal is allotted a 15-digit Goods and Services Identification Number (GSTIN).
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A GST practitioner is a Central or State Government approved person who can perform GST-related activities on behalf of the taxpayers. A GST practitioner’s job, on behalf of his clients, is:
- Assisting in making an application for GST Registration: A GST practitioner can assist in making an application for GST registration on behalf of the taxpayer or make amendments to/cancellation of GST registration.
- Filing of GST Returns
- Appling for Refunds/Payment: GST practitioners can file refund claims or pay taxes on behalf of the registered persons.
- Making GST-related payments: tax, penalty, or other payments.
- Acting as an authorized representative: A GSTP can act as legal representative of his client before any officer of the GST Department, Appellate authority, and the Tribunal.
A GST practitioner has to enroll in GSTN and pass the GSTP examination within two years of enrolment. A certification of GSTP increases the creditability and trust of the taxpayers. He, in practice, acts like a tax lawyer or consultant. The GSTP examination is a computer-based MCQ type of exam conducted across India, twice a year. The GST certifications courses in Vizag guide and assists an aspirant in successfully passing the GSTP examination.
5 Best GST Certification Courses in Vizag
GST certification course boosts your knowledge about GST law. It not only updates your GST knowledge but also provides hands-on experience on software utilized for implementation, enforcement, and compliance of various requirements as per GST law. Though the objective of the GST Certification Course is to provide knowledge about GST it stresses more on the practical aspects.
Most of the GST certification courses in Vizag have curriculums that consist of 80% – 100% practical training. Here is a list of the 5 best GST certification courses in Vizag including both online courses as well as classroom-based learning courses.
1. IIM Skills
IIM Skills is a leading online ed-tech institute in India, recognized globally for its professional courses. They are recognized by MSME, the Government of India. They offer comprehensive courses and training programs in some of the most important disciplines. They have trained more than 25000 students in over 1000 batches in various professional courses. They are one of the institutes that offer GST Certification courses in Vizag online.
Salient features of the GST Certification Courses in Vizag
- 16 Hours of Interactive Lectures, Weekly Practical Assignments
- Freelance Opportunities, Dedicated Placement Cell
- Free E-Books, Invoicing Tools & Software
- Lifetime Access to All New Updates Through Live & Recorded Lectures at No Extra Cost
- 24×7 Online Support – Instant Online Support with Dedicated GST Practitioner Community of 2000+ Professionals.
- Make you job-ready by providing an in-depth understanding of all GST provisions.
- 100% Money-Back you can claim a 100% money return after your first session if you are not satisfied with the course.
Course Curriculum: Commencing with the evolution of GST, the curriculum navigates through the basics and fundamentals and ultimately concludes with practical applications of GST.
- Module 1: The Genesis and Concept of GST and its impact on Business.
- Module 2: Framework and structure of GST.
- Module 3: Registration under GST criteria and the process explained.
- Module 4: Invoicing in GST: Invoicing Rules & Regulations.
- Module 5: GST Returns filing.
- Module 6: Composition Scheme under GST
- Module 7: Reverse Charge Mechanism (RCM)
- Module 8: E-way Bill under GST.
- Module 9: Input Tax credit & Payment in GST.
Course Fee: INR 9900 +18% GST (10% group discount on 3 or more registration).
2. National Institute of Financial Markets (NIFM)
It is a Private Vocational Training Institute which is one of the top institutes in the financial market, stock market & accounting taxation sector. They offer long-term and short-term Job Oriented skill development courses with offline and online classes. They are one of the institutes that offer the GST certification courses in Vizag by the name of the Professional GST Certificate course.
Salient features of the course
- Provide In-depth knowledge of GST Laws, applications, and concepts.
- The curriculum is based on 80% practical training & 20% theoretical
- Training delivered by industry experts
- Faculties have over 10 years of experience
- Offer 100% Placement Assistance
- Unlimited Practical hours
- Training on GST accounting with the use of online GST software
- Consolidated learning with regular home assignments
- Individual attention to each student
- Lifetime support from faculties
- Structure of GST
- Invoicing in GST
- GST Return Filing
- Composition Scheme Under GST
- Reverse Charge Mechanism (RCM)
- Registration under GST
Course Fee: INR 25,000 + GST
Course duration: 2 Months
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3. Institute of Legal and Management Studies (ILMS)
It is a non-profit initiative by CSDF (Collective Skill Development Foundation). Their motto is to bridge the gap between the knowledge imparted by academic studies and the knowledge required for actual employability. The institute provides students, legal, and management professionals a chance to develop their skills as needed in the job market. They deliver their Certified GST Professional Course (with Tally Erp9) through the online portal.
Salient features of the course
- Improves employability
- The course prepared by Industry experts
- No fixed timing
- Online certification
- Innovative content
- Lifetime Access
- Over 30 hrs of video lectures
- Introduction to GST
- Practical knowledge of GST
- Registration Services on GST Portal
- Ledger Services on GST Portal
- Returns Services on GST Portal
- Payment Services on GST Portal
- User Services on GST Portal
- Refunds Services on GST Portal
- GST Law from GST Portal
- Real-Time Download Services on GST Portal
- Searching Taxpayer Services on GST Portal
- Computing TDS & extract TDS Reports
- GST Computation & Reports in Tally.Erp9
- Reverse Charge Mechanism (RCM) in Tally Erp9
- Accounting of Composition Dealer under GST in Tally.Erp9
- Availing Input GST Credit
- GST and Import & Export Entries
- Applying GST at Multiple Level
Course Duration: 3 months
4. Taxguru edu
Taxguru Consultancy & Online Publication runs the Taxguru edu. They provide in their portal free updates on Amendments in tax laws such as Income Tax, Wealth Tax, Goods and Service Tax, etc. They also provide various useful tools and Forms related to tax laws in excel and word format. They also deliver one of the GST certification courses in Vizag online.
Salient feature of the course
- a self-learning certification course.
- live streaming that gives you the updated law with real class experience.
- Assist you to become an expert.
- Certificate by Taxguru Edu after successful completion.
- Interactive Query resolution forum for the resolution of queries live.
- Reading Material is provided in e-Form.
- The recording is provided for each session.
- Basic Concepts of GST, GST Laws.
- Taxes Subsumed in GST
- GST Return Filing Procedure
- Registration, Exemption from Registration,
- Levy & Collection
- Input Tax Credit,
- Reverse Charge Mechanism
- Place of Supply
- Transitional Scheme, Assessment, Appeals, Demand & Recovery
Course Fee: INR 8000 + 18% GST.
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5. Henry Harvin Education
It is a Global Edtech Company and ranked amongst the Top 100 edutech Companies in India. They have over 200 Programs for Upskilling & Reskilling. They offer a GST Practitioner Certification Course in Vizag online.
Salient features of the course:
- 100% internship with Henry Harvin or partner firms
- Monthly Bootcamp Sessions for 1 year
- Regularly notifications for Jobs sent by e-mail
- Provide support in clearing interviews with startups and top corporates
- Allows access to recorded videos, ppt, case studies, etc for a lifetime.
- Provides Soft Skill Development and Resume Writing lessons as complimentary with the course.
- Provide experience of computer-based practical training on GST
- Resolution of doubts on GST during & after training
- Module 1: GST Levy, Place of Supply, Value of GST, GST on Export & Import, E-Way Bills
- Module 2: GST Registrations, GST Input Credit, Transitional Provisions of GST.
- Module 3: Keeping GST Account & Records, Invoice, GST Payments, GST Returns, and Refunds
- Module 4: Litigation Management, Audit & Assessments of GST, GST Offenses & Penalties, GST Demand & Recovery
Course Fee: INR 12500
1. How can the GST certification courses in Vizag help in placements or promotions in your career?
Ans. Implementation of GST has created a vast number of jobs in the industry and companies in Vizag are hiring Individuals with knowledge of the GST regime and compliances. Also, it enhances the skills of professionals, and their chances of getting a promotion also increase.
2. What is GST training?
Ans. GST training imparts a comprehensive knowledge of the Goods and Service Tax Act along with its practical applications.
3. Who can pursue the GST certification courses in Vizag?
Anyone interested can enroll themselves in the GST certification course. However, for people with commercial backgrounds and commerce students, it is more beneficial. Also, it is suited for professionals such as Chartered Accountants, Financial advisors, etc.
Since the arrival of the GST system, a huge need for people to have the latest knowledge about it has arisen. Many new job opportunities have materialized with the change in the structure of the taxation system in India. Most commerce and accounts students, tax consultants, and business managers need to learn the IT knowledge necessary for working online. Moreover, the GST system is in a teething period, and regular new changes are being implemented to run the system smoothly.
Tax consultants to students have to have the latest and dynamic knowledge. The GST certification courses in Vizag are therefore fulfilling a great need for the community. People with knowledge of GST are in great demand in today’s job market. Now that you have an idea of GST and GST certification courses in Vizag, make up your mind and pursue GST courses.