Madurai is one of the prominent cities of Tamilnadu in India. It is having a pool of talented people and professionals thriving in their work. The economic activities of the city revolve around tourism, trade, and the IT & ITES sector. The launching of GST in business has therefore created a new domain that needs institutes to teach about GST and a clan of GST professionals to practice in required business domains. In this article, we will help you navigate through the premiere institutes imparting GST certification courses in Madurai.
GST is the new type of tax imposed under the category of Indirect Taxes. It is meaningfully contributory to the development of this state. Professionals understanding and knowing GST are becoming indispensable not only for business but also as trainers in the existing GST training institutes of Madurai
What is GST (Goods and Service Tax)?
GST (Goods & Service Tax) is one of the Indirect taxes imposed to include 17 central and state government taxes in India. It is like the other applicable taxes of this category like excise duty, VAT, purchase tax, etc. The thought process evolved in 2000, while it took 17 years to make it a law on 1st July 2017.
It is a complete package of applicable taxes which begins from purchasing raw material up to the delivery of products to the customers. So, it’s also known as destination-based tax. The GST implementation in the state has drastically reduced the overall tax liability of the consumers thus encouraging more business for the market.
The context behind the need for GST implementation
Before the implementation of GST, the state government and the central government used to impose a different set of taxes on the same goods like VAT, Excise and Customs Tax, Entry Tax, Advertisement Tax, etc. This kind of overlapping of taxes was increasing the overall tax burden before GST implementation.
How is GST beneficial?
The GST is devised to cater to four core components of this tax. They are CGST, SGST, UTGST, and IGST which are described in detail below:
- First Component of GST- CGST: Central Goods and Service Tax
The Central Government enforces this tax on the transaction of goods and services within any state of India. The revenue generated through central goods and services is shared between the state and the central government.
- Second Component of GST- SGST: State Goods and Service Tax
The state government enforces this tax on goods and services transactions done within its state. SGST substitutes earlier taxes such as octroi, entertainment tax, or tax on a lottery. The State government collects the earned revenue under SGST.
- Third Component of GST- UTGST: Union Territories Goods and Service Tax
This is applicable in the Union Territories of India for Intra goods and services. The purpose is to provide SGST like benefits to the UTs. UTs of India like Andaman and Nicobar Islands, Dadra and Nagar Haveli, Lakshadweep, Daman and Diu, and Chandigarh gets benefit under UTGST, whereas Delhi and Puducherry avail SGST benefits as they have their legislation.
- Fourth Component of GST- Integrated Goods and Services Tax (IGST)
This tax applies to the import and export of goods and services within different states of India.
The purpose behind the execution of Goods and Service Tax
The motive behind the implementation of GST in India was based on certain important parameters like simplifying the procedural errors involved in taxation, enhancing the taxpayer’s base, and following one tax regime in the entire country.
It is further elaborated below:
- Ease Practical Complication
Digital India mission being the foremost call of the Government of India, the processes involved in IT Return filling and other assessments mostly happen online. This GST is also a move towards simplifying taxpayer compliance while running any business in India.
- One Nation, One Tax
The GST is imposed to combine all indirect taxes into a tax so that every state applies the same tax rate for any specific good or service across India.
- Expand The Taxpayer Base
Before GST, every tax based on its revenue had a different threshold limit for registration. With GST, there is a constant escalation in the tax-registered enterprises. Therefore, this tax has facilitated providing impetus to the unorganized sectors and bringing them under the tax regime.
Unique Compliances of Good Service Tax
The GST filing is not only a completely online process but it’s incorporated with some unique compliances to maintain it swiftly.
These features are:
- Online Invoicing: E-invoicing
All business with a turnover of more than 500 crores INR needs to do e-invoicing. It has recently been extended to businesses even with turnovers above Rs. 100 crores. The objective behind this is to decrease data entry mistakes by strait away passing the invoice data from IRP to the GST bill portal.
- Online Billing: E-way Bills
Online Billing via E-way bill is made to fasten the movement of goods within states through the eWay Bill Portal. This method reaps several benefits like:
- Swift movement of goods between the states enabled with robust tracking methods
- Smooth logistics network
- Easy compliances to adhere for the enterprise
- Faster Bill generation
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Advantages of GST Certification courses in Madurai
There are several benefits for any job aspirant by doing GST certification courses in Madurai. Some of the immediate benefits are:
- Increase in job opportunities related to GST requirements of clients.
- Provide GST consultation services to start a passive income.
- To become an active member of the GST taxation team in current or large firms,
- Getting Salary appraisal due to added skill set.
- To provide online GST training.
Eligibility for GST Certification Courses in Madurai
In the constantly evolving era of taxation and its online processes, there are more taxpayers and therefore more need for trained professionals who can complete the taxation on behalf of new taxpayers or update the need of existing taxpayers. So GST professionals are constantly in demand and any graduate can opt for GST certification courses in Madurai.
The already existing GST practitioners can also undergo such courses to upskill. The Ministry of Micro, Small, and Medium Enterprises is also providing courses for Graduates, Chartered Accountants, Company Secretaries, Financial and tax consultants, and freshers to take up the GST certification courses.
Top 7 GST Certification Courses in Madurai
Based on the inputs available from online platforms and feedback from trained candidates we are presenting the top 7 GST Certification courses in Madurai with details of the institutes providing online or/and offline GST certification as under:
1. IIM Skills
IIM Skills is one of the leading online education institutes providing GST certification courses in Madurai. They provide one of the best training at an affordable cost through their combo of live online and self-paced assignments. The experienced faculties are professionals from the industry. Candidates get theoretical inputs and hands-on experience during this certification program.
Course Duration: IIMSkills conduct – 4 weeks of live sessions and 16 hours of lectures.
Course Fee: The course fee is Rs. 2900.
Eligibility: Fresher Graduates and students, Accounting and Finance professionals, enterprise owners/ startups, etc.
IIM Skills’ GST Certification Course Features:
- Understanding of GST Goods and Services Tax and its components.
- Practical experience and case studies for a better understanding of the GST framework.
- Lifetime access to the session recordings and course materials through its LMS portal.
GST Course Modules
- Invoicing and Return Filing of GST
- Framework and Structure of GST
- Registration and Composition of GST
- E-Way Bill under GST
- Reverse Charge Mechanism
- Input Tax Credit
- Payment in GST
2. ICAI – Institute of Chartered Accountant of India
ICAI is eminent accounting & finance professional body in India that is acknowledged globally. The GST certification course from ICAI is only for its members and ranks among the top GST certification courses in Madurai.
Course Duration: It is 10 days duration available on weekdays (Monday to Friday) or weekends (Saturday and Sunday). More details at GST Certificate course
Course Fee: It is Rs. 14,000+GST for cities like Delhi, Mumbai, Kolkata, Chennai, Hyderabad, Pune, Bangalore, Ahmedabad, Jaipur, and Rs. 12,600+GST for other cities.
Course Eligibility: It is only for the members of the chartered accountant’s institute or qualified for the CA examination finals. Candidates who are already in similar service and doing audits are also qualified to take up this GST certification course.
- Enrolment is done on a first-come, first-serve basis.
- Experienced and qualified faculty with in-depth knowledge provides the training.
Also, read about the A-rated Business Accounting and Taxation Courses in Hyderabad
- Overview of Goods and Service Tax
- Principle terminology, concepts, returns, refund, and payment under GST
- Levy of GST
- Reverse Charge
- E- Way Bill
- Maintenance of Records and Books
- HSN and SAC covering
- Input tax credit
- Relevant Allied Laws
- Miscellaneous and Transitional Provisions
- Budgetary support
- Ethical Practice and Professional Opportunities
- Overview of Audit
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In 1981, NIIT was established to provide IT training and assist enables businesses. The company kept expanding its horizons as per industry needs and developmental avenues. It therefore also offers one of the best GST certification courses in Madurai. This company is known as leading talent development cooperation globally and puts sincere efforts in developing the workforce as per global market demands by providing a host of skilling and upskilling programs for individuals and companies.
Course Duration The course is for 20 hours only.
Course Fee The course fee is Rs. 3800.
B.com or any graduate with commerce subject till Class XII and familiar with to taxation background are eligible for the course.
- Provides insight about GST and its implementation,
- GST effect on the present taxation system.
- It is also integrated with the Tally online certification.
- Imparts extensive learning and practical exposure.
- Concepts of GST, GSTN, and GSP
- Supply of Goods and Services
- Invoicing and Input Credit Mechanism
- Time and Value of Supply
- Rate Structure
- Refund of Tax
- GST and Input Service Distributor (ISD)
- Accounts and Records
- Job Work and Non-Resident Tax Payer
- Tax Return
- Audit in-depths
- E-Commerce and Compliance Rating
- Payment Liability
ACTE is a popular IT software training institute from Chennai and Bangalore which also offers GST certification courses in Madurai. They provide training especially to the new enterprises to make them GST ready in running their business. The training is focused to help working people as well as interested freshers to work in GST-related jobs and assignments swiftly.
Course Duration: This course is for 40 hours. As per the need of participants, the classes are conducted (Mon to Fri; 1-1.30 hours / per session) on weekdays or (Weekend Regular 3hours /per session; Weekend Fast-track 6 – 7 hours / per session) on weekends.
- The course is targeted at both beginner and advanced level users.
- It gives hands-on learning.
- Trainees have lifetime access to the LMS with study materials, videos, and interviews.
- It gives batch training, one-to-one training, online training, or customized training.
- A free demo class is provided.
- The trainees appearing for interviews appears for the mock test once they complete 70% of the GST training course content.
- Placement facilities are given to all participants.
- GST Returns
- GST Tax Structure, Features, Components
- Accounting Using Tally
- Input Tax Credit
- Registration, and Filing of GST
- MIS Reports
Udemy creates opportunities for freshers and professionals by providing them online opportunities of skilling and upskilling. This helps to update with the emerging skills and constantly evolve for the competitive world. It offers multiple GST-related courses accessible through online platforms.
The best feature of this platform is to provide flexible courses, especially for working people, regular students, and professionals who otherwise don’t have any scope of going for the traditional skill up-gradation method. Such GST courses provide basic knowledge of GST. All finance and accounting practitioners and accountants, students of CA/CS/CMA/MBA degrees are especially eligible for such course.
- Input Tax Credit
- Time and Value of Supply
- Accounts and Records
- TDS and TCS
- Registration and Tax Invoice
- Transitional Provisions
- Eway Bill
Recommended Read: GST Certification Courses in Coimbatore
This course is regarded as one of the best GST certification courses in Madurai. The fleet of highly qualified M.Phil. & Ph.D. experts from auditing and company secretaries group provide training to every participant. So the possibility of better jobs gets enhanced after doing this course.
- GST for Goods and Services (SGST, CGST, and IGST)
- Tax Deducted at Source
- Comprehensive inputs on GST ecosystem
ICSI is the professional body of company secretaries in India which develops and regulates the work of all CS. It was formed under an act of Parliament and it falls in the jurisdiction of the Ministry of Corporate Affairs, Government of India. It is headquartered in New Delhi with its regional offices in New Delhi, Kolkata, Chennai, and Mumbai.
ICSI provides GST certification to help its members overcome the field level challenges in GST-related taxation by providing them with working knowledge of the GST ecosystem.
Course Duration It is 15-20 hours with once-a-week sessions.
Course Fee The course fee is Rs. 7500 excluding GST.
Any Member and Student of ICSI or ICSI executive program or higher are eligible to enroll for this course.
- The course is conducted in online mode through the LMS portal of ICSI, along with Live and interactive webinars, recorded sessions, and presentations.
- The candidate needs to give MCQ-based tests and make projects to outshine the course.
Frequently Asked Questions
1. Who can apply for GST certification?
Any graduates and those who are from commerce background, financial and tax freshers or experts, chartered accountants, company secretaries, are eligible for GST certification.
2. Which is the best GST course?
The GST course which tells you about the GST ecosystem in taxation, its need, and processes involved in filing GST returns is good to choose. The best course also provides an opportunity for doing practical assignments.
3. What are the types of GST?
There are four types of GST and they are as follows: 1. Central Goods and Services Tax (CGST.), 2. State Goods and Services Tax (SGST.), 3.Union Territory Goods and Service Tax (UTGST.) and 4. Integrated Goods and Service Tax (IGST.)
4. What is the GST certification exam?
The exam is conducted by NACIN (National Academy of Customs, Indirect Taxes and Narcotics) for Goods and Service Tax practitioner aspirants.
5. How much does a GST professional earn?
A GST professional can earn from 5 to 7 lakhs annually. It depends upon the individual experience, skillset, and the clients they are handling.
When there is a change, we need to accept it for the better. The implementation of GST as a new tax regime is something like that and therefore, we need to understand its context, process, and benefits. The training in GST is going to be imperative for everyone in the accounting and tax regime and thus there is a huge demand for getting skilled ourselves as well as providing training or consultancy thereafter.
Let’s embrace this transformation with genuine understanding and better implementation by getting trained and certified in GST. We believe, the above list of top GST certification courses in Madurai, with online and offline facilities will make it easier for you to choose one of the best and begin this new journey.