What is the best GST online course?

GST training is required so you know how to work with it as GST might be a new thing to many business owners and many people as it is a newly passed bill and that makes it even more new for the people.

What is GST?

It is a good and service taxation which filters all the indirect tax and bring uniformity in the tax. GST reduces the complicated structure of taxation and other rules that makes the taxation complicated. There are several taxes and indirect taxes that makes the tax rate higher but GST filters all the indirect tax and reduces it to only what you require to pay. It also gives a clear view of what you are paying for and how much you are paying.

GST will replace all the indirect taxes except for the customs, stamp duty, property taxes, which will reduce the cost of tax to minimum by eliminating tax on tax and many indirect taxes that are put on the line up of the tax chain. The state and the central tax rate becomes uniform making the things simpler for trade import and export. This will turn the country into one market and that is going to turn things into much easier.

Moving to GST is the best solution for reducing the cost of tax in your business and moving to a GST ready software can make all your complications a simpler way to handle your business by reducing expense on taxation and tax.

Free e-learning Online GST Course (15 videos to learn GST fast)

How to register for GST?

If your business is having a turnover of above 20 lakhs. The suppliers that need to register mandatorily for GST are:

• Interstate suppliers
• Casual and non-resident taxable person
• Business liable to pay taxes under reverse charge
• Agents supplying on behalf of taxable person
• Input service distributor
• Ecommerce sellers
• Online information database access
• Retrieval services from outside India to an unregistered person
• Agitator supplying services under his brand name
• Person responsible to deduct TDS

Registration steps:

Step1

1. Fill the GST form and get registration 01
2. Provide your pan card number, phone number, email id and submit the form
3. After the verification you will receive an OTP and a verification number on your mobile and email id
4. Fill the part B of GST registration
5. Specify the application number
6. Attach other requirements with the form
7. Photographs, business, managing trustee, etc and authorized signatory

Step2

Constitution of taxpayer

1. Partnership deed
2. Registration certificate
3. Other proof of constitution
4. Proof of principal
5. Additional proof of business

For own premises

Any document of proof in support of ownership of the premises like latest property tax received, municipal khata copy, electricity bill.

For rented premises

Copy of rent, lease agreement along with owner’s documents like latest property tax receipts, municipal khata copy or copy of EB.

Bank account related proof

Scanned copy of first page of bank pass book, bank statement.

Authorization forms

Authorization copy, resolution of managing committee or board of directors in the formation required or mentioned.

Step 3

Incase more information is required form number 3 of GST will be issued to you. Provide the information required in the 4^th form within 7 days from the day you received form 3.

Step 4

If all the required information has been provided in 1^st and 4^th form the GST certificate will be issued within 3 days in form 6 from the date of receipt of form 1st or 4th.

If your business is old or already exists registration in Tax or VAT your business will have to apply in GST by default. Any business registered with state or central tax will be auto moved to GST and the GST provisional certificate will be provided in GST Form 21.

Within 6 months the business owners are requested to submit filling the form GST 20 along with all the information required and prescribed. If the information and data provided are satisfactory the certification will be provided in GST form 6.

How do you move from VAT to GST?

GST training:

1. All the dealers registered with VAT authorities and valid pan will be auto migrated along with provisional certificate in GGT registration form 21.
2. Within 6 months the dealers are to submitted the GST registration form 20 along with information required
3. If all the data provided are not accepted the provisional form provided will be cancelled by registration form 22

How do you make sure that your tax is carried forward to GST?

You can carry your current input tax credit to GST. If the input has crude on purchase, make sure of the following on purchase:

1. Invoices or other prescribed tax documents
2. Dates of invoices should not be older than 12 months
3. Has to be decaled in the last VAT return
4. Should be qualified credit under GST
5. Should not have opted for composite scheme

If the capital has crude on buying capital assets, make sure of the following conditions

1. Deferred or delayed because of starting date of commercial production
2. Such credit is declared in the last VAT return

Once the transfer to GST is done the VAT will remain cancelled.

What is the procedure to move from service tax to GST

GST training:

1. All the dealers registered with service tax authorities and having a valid pan number will be automatically moved to GST with provisional certificate for it in GST registration form 21.
2. Within six months the dealers are supposed to submit the registration GST form in the GST portal along with required information.
3. Once all the data and information provided is accepted you will be provided with a final GST registration certificate in registration form 6.
4. In case the information is not satisfactory a notice in form 23 will be issued and a hearing will be taken before cancelling or providing the final certificate.
5. If a hearing is not successful or the details are not provided within the given amount of time the certificate will be cancelled under form 22.

How do you make sure that your input tax credit under service TAX is carried forward to GST?

You can carry forward the input of your current return input tax credit to current GST

If the input has crude on expenses, you have to make sure that the following conditions are satisfactory

1. Have the invoices or other prescribed tax documents
2. Dates of invoices should not be older than 12 months
3. Has to be decaled in the last VAT return
4. Should be qualified credit under GST
5. Should not have opted for composite scheme

If the capital has crude on buying capital assets, make sure of the following conditions

1. Deferred or delayed because of starting date of commercial production
2. Such credit is declared in the last service tax return

Once the transfer to GST is done the service tax will remain cancelled.

How to move from excise to GST?

Procedure (GST training)

1. All the dealers registered with excise authorities and having a valid pan number will be automatically moved to GST with provisional certificate for it in GST registration form 21.
2. Within six months the dealers are supposed to submit the registration GST form in the GST portal along with required information.
3. Once all the data and information provided is accepted you will be provided with a final GST registration certificate in registration form 6.
4. In case the information is not satisfactory a notice in form 23 will be issued and a hearing will be taken before cancelling or providing the final certificate.
5. If a hearing is not successful or the details are not provided within the given amount of time the certificate will be cancelled under form 22.

How do you make sure that your input tax credit under excise is carried forward to GST?

You can carry forward the input of your current return input tax credit to current GST

If the input has crude on expenses, you have to make sure that the following conditions are satisfied

1. Have the invoices or other prescribed tax documents
2. Dates of invoices should not be older than 12 months
3. Has to be decaled in the last VAT return
4. Should be qualified credit under GST
5. Should not have opted for composite scheme

If the capital has crude on buying capital assets, make sure of the following conditions

1. Deferred or delayed because of starting date of commercial production
2. Such credit is declared in the last service tax return

Once the transfer to GST is done the excise will remain cancelled.

What are the returns to be filed under GST?

The various returns include VAT, excise and service tax and the returns must be filed in every state they operate. There are possible confusions and uncertainties in deciding the place for manufacturing and the time of supply. With GST it does not differ if you are a manufacturer, seller, trader, service provider what you need is to file GST returns.

What are the returns to be filed under GST? And what are their due dates?

All tax payers will have to file 3 monthly returns, 1 quarterly return and 1 annually return.  Job works and ecommerce business will have to file one extra return every month.

Step by step procedure of file return to provide better idea for GST training:

1. Declare your supplies only and input for the purchases are automatically populated based on vendor submissions.
2. 10^th of every month you will declare your GSTR 1
3. Auto populated and make corrections in GSTR2-A between 11^th and 15^th
4. The auto populated GSTR3 will be available for payment and filing on 20^th

How to simplify the process of filing returns under GST?

GST payments can be made only using digital portals the companies with branches will have to find a smarter way to file returns to facilitate branch transfers. Which is charged by GST and will have to re plan their location as the taxation will be uniform with the GST in the picture.

GST training for raising a GST invoice and how is it different from the normal invoice and much more.

GST invoice

If you goods or services to another tax payer under GST you are required to issue a GST invoice in the prescribed format.

Two types of invoices issued under GST:

Taxable invoice which is issued to pass GST credit and

Bill of supply which is issued when the bill of supply is exempted or the supplier is under composite scheme i.e no GST credit is passed on.

Difference between current invoice and GST invoice

• The serial number should be consecutive number containing only alphabets or numbers and must be unique for a financial year.
• If the recipient is unregistered and taxable value of supply is Rs.50,000 or more, the state name and code are required. In case of interstate supply the state name if required.
• Taxable value is the value after deducting discount or abatement, if any.
• HSN code in case of goods or accounting code in case of services has to be mentioned for supplies by notified person.

Two copies of invoices are required in case of service providers one for recipient and one for supplier and in case of selling goods three copies of invoices are required one for recipient, one for supplier and one for transporter.

Reach accounting software (GST ready)

After collecting an entire idea from this GST training you must be already aware that you will require software that will handle your business with GST ready process. For this you require a GST ready software that will handle your business from all sides and not only help with GST taxation.

Reach accounting software is one of the friendliest and powerful sofwtare with all the required models for every business as it is easily customizable and it can be sued by any type of business.

It is cloud based, easy to access, has bank level of security, takes acre of your business from all sides, easy to handle, smart and upto date and helps in better decision making.

Features:

• Order management
• Manufacturing management
• Warehouse
• POS
• Lots and barcode management
• Project
• Accounting
• Invoicing
• Multi branch
• Purchases
• Sales
• Access
• Multi company
• Auditor view
• Mobile application
• Business automation
• Operations and process
• Loyalty management
• Addons
• Tally import

For 15 days free trial click on>> demo

Sumathi

I’m a tax expert with over 10 years of professional experience. I’ve gained practical insights on GST and other Taxes during my tenture as a Tax expert and GST Trainer in Reach Accountant.