GST Certification Course and Complete Guide to GST

 "What is the GST Certification Course?"

Before getting into what is GST course, I want to provide a comprehensive understanding of the short-term term GST.

Everyone has an opinion about whether GST simplifies the taxes system or not. I'm providing you with information so you may form your view. Later in this post, I will explain "what is GST Certification Course" is and assist you in finding better online GST courses in Hyderabad with certifications.

What exactly is GST?

Good night, Sweet dreams, and Take care in the whole form. I'm joking, of course. GST is a broad subject to cover. But I'll attempt to explain it to you in as few words as possible. To begin, GST is an initial Goods and Services Tax.

The federal government collects two types of taxes. They are as follows: -

Direct Tax: In this case, the government directly collects taxes from citizens, such as income tax, property tax, company tax, and so on.

Indirect Tax: Indirect taxes are levied on the purchase and sale of goods. Previously, there were 17 other types of indirect taxes, and the government merged all of them with the appropriate GST. As a result, GST is a mix of indirect taxes.

There were several taxes in India before the implementation of the GST. We had EXCISE TAX, service tax, customs tax, VAT (Value Added Tax), CST (Central Sales Tax), OCTROI, and a slew of additional taxes. So, to simplify all of the tax complexities, our government devised GST. On July 1, 2017, India's Prime Minister, Mr. Narendra Modi Ji, unveiled the ONE NATION ONE TAX policy known as the Goods and Services Tax.

Our Prime Minister, Mr. Narendra Modi Ji, has stated that GST will bring One Nation, One Tax, however, you must have seen this on any of your restaurant bills, mart bills, or any other bill. There are two or three taxes mentioned: the CGST tax, the SGST tax, and the IGST tax. So, does it adhere to the One Nation, One Tax policy? Yes, there are several components of GST, which include CGST, SGST, IGST, and UT- GST.

CGST is for Central Goods and Services Tax, SGST stands for State Goods and Services Tax, IGST stands for Integrated Goods and Services Tax, and UT- GST stands for Union Territory Goods and Services Tax.

I'm just summarizing these phrases with an example to help you understand them. In my viewpoint, you should buy an online course. If the course provider is also from your state, he will charge you CGST + SGST. That is, the state government will keep 9% of the tax, while the remaining 9% would be transferred to the Central Government's taxation budget.

Furthermore, if the course provider is not from your state, they will charge IGST, which is an 18% integrated tax. Now we come to UT-GST, which applies to all Union territories. We have nine union territories in all (Andaman and Nicobar Islands, Chandigarh, Dadra and Nagar Haveli, Daman and Diu, National Capital Territory of Delhi, Jammu, and Kashmir, Lakshadweep, Ladakh, and Puducherry).

In UT- GST, you must additionally pay 18% tax on your goods and services, with 9% retained by the Union Territory and 9% transferred to the Central Government. Because the Central Government oversees the states, interstates, and union territories, 9% of GST is always transferred to them. You may now check your prior statement to see if they charged CGST+SGST or just IGST.

GST Registration Information

You're probably wondering who will charge GST at this point. Is GST applicable to everyone who provides GOODS or SERVICES? The watchman in your building, for example, or the rickshaw driver, are both qualified to charge GST since they provide services to us. As a result, the response is No, this is not the scenario. It has a registration procedure. Only once you have completed the registration process will you be able to charge the GST. Furthermore, the registration process necessitates the use of minimal criteria. And whether anybody who meets the criteria is eligible to register for GST and charge GST.

For businesses, the minimum annual revenue is 20 lakhs. If someone is operating a business and their annual turnover is 20 lakhs, he or she must register for GST registration. And if a person's annual sales are less than 20 lakhs, he can still register for GST, but this is known as voluntary registration. Another essential aspect to highlight is that whenever someone sells items or services online or conducts interstate commerce, they must register for GST regardless of their turnover. When it comes to the internet, the 20 lakh turnover hurdle just vanishes. Again, these are extremely fundamental aspects; the narrative of GST and its Registrations is vast.

FORMS FOR GST:

A few pieces of paperwork are presently required to be filled out by businessmen. They are GSTR-1 and GSTR-3B, respectively. Just a short description. GSTR-1 is the form on which a businessman would communicate all of the facts of their business income from one business to the next and from one business to the client. GSTR-3B is a bit difficult, but I'll attempt to describe it as simply as possible.

Let me give you an example. You are a person who is selling some X product for 100 rupees and you have collected 18 rupees from your customer. You have also purchased this X product from some wholesale market at some price and you as a customer to the wholesaler have paid to suppose 8 rupees as a GST, so you are only supposed to pay the government 10 rupees as a tax. Now, in this form, you will give all of the information about how much GST you received from your clients and how much you paid as a consumer. I hope you understand what I mean.

Now we get to the main point: "What is a GST certification course?"

The answer is the same as the question's proposed name. It will provide you with a thorough understanding of GST and its many features. It will enhance your abilities and add a star to your résumé.

These are a few online GST classes in Hyderabad that I found after a lot of searching, and I'm just providing them here for your convenience with all of the course details: -

Initiative Institute of Professional Training & Research(IIPTR) is a well-known and prominent online education company. In their precisely constructed Master GST Practitioner course, the institute provides an in-depth curriculum on GST. The GST training in Hyderabad consists of studying the essential components of the GST Modules. The modules' implementation offers hands-on learning.

This intense training covers everything from the tiniest intricacies of GST to the significant components.

The course syllabus contains

Module -1

• GST 

• Types of GST

• Exemptions in GST

• GST Registration

• Concept of supply under GST

• Concept of Place of Supply

• Concept of time of supply and Valuation under GST

• Concept of branch Transfer

• Export & Import in GST

• Types of Invoices and Invoice format

• Computation of GST

• Input Tax Credit and set off

• Concept of Reserve charge mechanism and compliance

• Recording GST Liability

• Filing of GST returns

• Eway Bill requirement & compliance

•  E-Invoicing

• Composition Scheme in GST

• Tax computation, payments, and reports

• GST annual return

• GST Audit

Module-2

1- Detailing training on GST Software of partner GST for payment and filing of GST.

2- Training on how to successfully run your business and client relations.

Initiative Institute of Professional Training & Research (IIPTR) in Hyderabad  will assist you in understanding GST and becoming an effective and confident GST Practitioner. Connect with a GST specialist at the institute to determine your eligibility for the course. All of your doubts will be answered, and you will be able to decide whether you want to pursue the online GST Course in Hyderabad.