GST Course at Your Fingertips

GST refers to a single tax that combines several indirect taxes previously imposed on the sale of goods and services. It applies to the production, marketing, and consumption of all products and services in India and even to imports. With this course, you learn the basics of CGST (Central Goods and Services Tax) and SGST (State Goods and Services Tax). 

• Evolution and rationale behind GST 

• Definition and scope of GST 

• Structure of GST and its components

To a novice, GST returns may sound complicated, considering there are 13 of them. These include the GSTR-1, GSTR-3B, GSTR-4, GSTR-5, GSTR-5A, GSTR-6, GSTR-7, GSTR-8, GSTR-9, GSTR-10, GSTR-11, CMP-08, and ITC-04. Different returns apply to different taxpayers, depending on individual factors such as the type of taxpayer and type of registration. This module covers an overview of the different types of GST returns. 

• All types of GST Returns for Regular Taxpayer 

• Understanding of all Forms  

• Online Process of Filing returns

Input Tax Credit (ITC) refers to the GST paid by a business owner on goods and services purchased for business use. They can later reduce it from the GST payable on the sales, subject to the fulfilment of certain conditions. Understanding ITC is vital to lower tax liability by seeking credit for the tax already paid. As a part of the GST course, learners can access comprehensive knowledge about ITC. 

• Understanding eligible credits 

• Utilization of Credit  

• Reconciliation of ITC

When it comes to GST registration, businesses need to submit a long list of documents, such as company PAN, address proof, certificate of incorporation, bank account details, and more. At the same time, they need to comply with several guidelines related to billing and tax filing. Non-compliance can land a business in trouble. This module covers the essentials of GST documentation and compliance.  

• Understanding E-way Bills 

• Understanding Invoices, Credit Notes & Debit Notes

GST registration is mandatory for businesses with an annual turnover exceeding Rs. 40 Lakh. While business owners can complete the registration process online, they may feel overwhelmed by aspects like eligibility, documentation, steps of registration, and ever-evolving regulations. TaxBuddy’s GST course has all the answers!  

• When & who shall get GST registered 

• Documentation & Online Process 

• Amendments to GST Registration 

• Handling notices/queries on registration 

Small businesses can make the most of the GST composition scheme. This tax-paying mechanism is simpler than regular GST filing and offers the benefits of lower tax benefits and reduced paperwork and compliance. However, business owners need to know this scheme inside out to avail of these advantages. Module 4 of the online GST course addresses the essentials of the composition scheme.

• Eligibility & its compliances 

• Applicable forms. 

E-invoicing is a digital system for preparing business-to-business (B2B) invoices in an e-invoicing format. Once prepared, the Goods and Services Tax Network (GSTN) authenticates these invoices. This system facilitates a common format all businesses have to follow when it comes to reporting invoices to the GST portal. With TaxBuddy’s GST course online, e-invoicing becomes a breeze for professionals and business owners.

We will explore the dynamic nature of Goods and Services Tax (GST) laws in India. GST, being a relatively new indirect tax system, is subject to periodic changes and amendments to ensure it remains relevant and effective in the ever-changing economic environment.
As students, it is crucial to understand the process of how GST laws are modified and updated over time. We will delve into the reasons behind these changes, such as the need to address emerging business practices, close loopholes, or align with the evolving needs of the economy.