Are you one of the GST aspirants who are looking for the best GST certificate courses available online. Fret not. In this article, we are giving you expert guidance on GST to help you stir your career and direct you on the right pathway. Along with this, we’re also going to answer the most common queries & briefly discuss how a certified GST professional course is benefitting professionals across the country.
In an era where the marketplace is cluttered with certification and training courses. Opting for the most appropriate GST certification is a crucial decision to break the ice. Moreover, certifications will help you to get hired immediately with a comparatively high salary, career growth, and promotion opportunities to senior levels.
The tag of a Certified GST Professional adds huge value to your career and helps you break from the clutter of clones. So, without further due, let’s start.
We all are familiar with the word GST. But, what exactly is it really? First of all, GST is short for Goods and Services Tax. Also, GST is a type of indirect tax which is applicable to the supply of goods and services in India. Further, it is a comprehensive and multistage tax as it is relevant at every step in the production process.
However, the tax came into impact from July 1, 2017, by the implementation of the One Hundred and First Amendment of the Constitution of India by the Indian government.
Now that we have a brief about GST, let’s understand who is a GST practitioner and what are their responsibilities.
A GST Practitioner is an advisor who offers services to other taxpayers through online mode. A GST Practitioner requires registration on GSTN Portal and must hold a certificate by going through an application procedure before starting his/her career.
Role of a GST Practitioner
Being a GST practitioner is a very responsible job profile. Nowadays, the role of GST practitioner is moving towards more forward-thinking practices. Therefore, the GST practitioner has to undertake any or all of the following activities:
- Firstly, furnish details of outward and inward supplies.
- Secondly, furnish monthly, quarterly, annual or final returns.
- Subsequently, deposit any assets into the electronic cash ledger.
- Further, file a claim for a refund.
- Lastly, file application for cancellation of registration.
Now that we have reviewed all about a GST practitioner. In the same vein, let’s understand why there is even hype in the first place.
What’s with the GST hype?
The intensity of openings for GST practitioners in India is currently running at a high rate. Certainly, the demand for GST practitioners is at peak due to various economic changes in the nation. However, the availability of professional GST talent is poor because of the newness of the concept. Not to mention, there is a lack of knowledge about the same. Therefore, professionals who can take the load of handling the new reform are insufficient.
So, this brings profitable career opportunities in GST to knock the doors of aspiring GST professionals!
Since the sector is seeing a shortage of experienced tax practitioners. Hence, the current scarceness is encouraging young minds who aspire to learn the new and exciting legislation, to professionally make their debut into the GST field.
Subsequently, an increasing emphasis on GST reforms can be seen, which in turn has increased the hiring intensity for GST professionals. Further, it has hugely boosted job opportunities across industries. Also, this has made a lot of buzz in the market.
The recruitment market is looking forward to a high rise from the new GST regime and expects over a lakh of immediate new job opportunities, particularly specialized in the areas of taxation, accounting & data analysis.
The jobs related to the implementation of GST (Good & Service Tax) have been in high demand especially in the below-mentioned industries, ahead of the July 1 rollout, as compared to the availability of GST practitioners.
Demand for GST Certification
As GST becomes absorbed by a nation of 1.2+ billion people, it definitely has opened up a job shortage for various accounting, finance, and tax professionals. Certainly, a certification course in GST will demonstrate a clear understanding. Not to mention, the practical aspects of GST will help them to get a visible recognition for this knowledge.
However, if you’re still wondering whether the introduction of GST in our economy has actually led to this massive opening when it comes to job prospects in the financial sector. Then let us eliminate your uncertainty by stating that:
- First of all, GST has already created more than 1 lakh job openings in the industry.
- Secondly, around 50,000-60,000 jobs will also be created for specific activities revolving around GST.
- Thirdly, it’s also predicted that SMEs will prefer to outsource related activities that are related to the implementation of GST to various third-party accounting firms.
Now that you are well equipped with everything that it takes to become a GST Professional. Let’s cut the chase now and begin with which is the best GST certification course available online. But before that let’s understand the intended audience, just to be safe.
Who should take GST Certification?
The GST Certification Course can be audited by the following set of professionals –
- Firstly, graduates of arts or commerce or engineering, Chartered accountants, Certified Management Accountants, Company Secretaries, and law aspirants.
- Secondly, experts moving from the finance domain to taxation.
- Subsequently, individuals who require career opportunities in taxation.
- Last but not least, finance experts who wish to meet their own professional requirements in taxation.
Must Read: Who is eligible for GST practitioner?
What are the pre-requisites to take GST Certification?
This is the most frequent question that we encounter. So, to clarify the answer to this question is no. You do not need to have any prior knowledge or experience to enroll for our certification course. We welcome our students as blank slates so that our faculties can actively paint the picture of knowledge & confidence by taking them through each step slowly & gradually towards a bigger picture.
Now that you are all clear about the intended audience and prerequisites of the GST certification. Let’s quickly hop on to section regarding which certification body to choose.
Top GST Certifications 2020
Now, understand and keep this in mind that there are only a few certification bodies that are widely accepted. So, make sure you make your choice wisely. In order to make things simpler for you, we are providing you with the list of certification bodies that we highly recommend. So, we will provide you with a list of certification bodies to choose from. So, let’s start-
- Vskills: We highly recommend Vskills, as it is a certified Government body. But, other than that Vskills provides the candidate with each and every information. Moreover, Vskills Professional Certifications is a win-win for everyone. Certainly, there is no denying the fact that certification improves an individual’s marketability, as well as the earning potential. Furthermore, many studies reveal that individuals who hold a Vskills certification tend to be in a higher salary slab than those who do not.
- Cleartax: This is also a good option to choose from. Not to mention, they provide detailed information regarding the same.
- ICT Academy: You may have come across this one. If not, let’s be clear they are also a suitable match for GST Certification.
- CAclubIndia: This is also among the leading certification bodies. They offer training and coaching that will definitely be beneficial.
Successful completion of the GST certification enables candidates to perform the following tasks –
- First thing first, the candidate gains an overall insight of the GST laws covering its implementation, compliance & enforcement
- Subsequently, understand how GST affects the functioning of any organization. Further, how it changes in the business process required for compliance with the new law
- In addition, develop practical knowledge of the several procedures necessary under the GST Act, such as Registration, Filing of Returns, availing Input Tax Credit, TDS (Tax Deduction at Source for Government Buyers) compliance, and refunds.
After your completion of the GST certification course, you must be thriving upon the benefits you will enjoy. So, let’s understand all the benefits of the GST Certification Course.
Benefits of GST Certification Course
After successful completion of the course, here are a few benefits that the candidate enjoys. Below are a few benefits-
- First of all, it helps in raising an individual’s salary by 15% to 25% on average.
- Secondly, it increases the number of job opportunities available to individuals.
- Subsequently, it allows individuals to start their own consultancy.
- Further, it helps develop skills of different taxation, finance, and accounting professionals.
- Lastly, it provides a classroom-environment for better learning along with structured course content.
Must Read: How do I become a GST Practitioner?
Popular Learning resources for GST
Learning resources are the most important part while preparing for GST certifications. So make sure you go through all the tutorials and forums
- Online Tutorials: While preparing, tutorials play an important role. Each and every tiny detail is mentioned in tutorials. Not to mention, each and every topic is explained with various examples. So, make sure to check out tutorials on GST certification.
- Books: Once you are done with the tutorials, don’t forget to check out books on GST Certification. As books are a liable resource to rely on. So, here are a few books to go with-
- Goods and Services Tax (GST) Bare Act with Rules, Forms and Amendments 2020 Edition by Government of India
- Goods and Services Tax GST by H.C. Mehrotra, V.P. Agarwal.
- Mock Test: After going through all the learning resources, you must take time out to self evaluate. So, make sure to go through practice papers.
To all the graduates and aspiring candidates out there, this is to inform you of the fact that GST has opened doors to a whole new world of career opportunities.
Whether it is a manufacturing or a service industry, almost every company (small or big) need to sustain their proper books of accounts. And, for this purpose, they require Accounts executive, accounts manager or even chartered accountants, who are having good knowledge in GST. So, there is a great demand for Certified GST Professionals. Top Companies include – Capgemini, Times Group Publications, and EY, etc.
The average salary of GST jobs is Rs. 600,000 per annum. Not to mention, the average annual salary for Accounts Manager in GST Practitioner is INR 4.9 – 6.4 lakhs in India. However, these salary estimates are based on GST Practitioner salaries received from various employees of GST Practitioner.
Various sectors are affected the most by the implementation of GST. These industries include – Automobiles, Logistics, Home Décor, E-commerce, Media and Entertainment and many more. So, if you wish to improve your career prospect then, GST certification courses are an important point of consideration.
Remember, during the interview, recruiter tends to give more credit and attention to the candidate with certification as compared to others who are not certified in any field. Therefore, it is highly recommended and a good choice to attend a certification program in your interested field and then try the recruitment process which will certainly increase your chances of acceptance.