The Institute of Company Secretaries of India (ICSI) and National Skill Development Council (NSDC) enter into MoU to Develop GST Accounts Assistants for making the GST (Goods & Services Tax) services easily accessible to all stakeholders.
While inaugurating Year-Long Golden Jubilee Celebrations of the ICSI on 4th October, 2017 at New Delhi, the Hon’ble Prime Minister of India, Shri Narendra Modi, with the objective that the benefits of the GST reached one and all, had emphasised on the need to spread the awareness and benefits of GST and making the GST services easily accessible to Traders, Businesses, Industries and other stakeholders, especially those in towns and mofussil areas. For the purpose, he had desired the ICSI to develop GST Accounts Assistants sizing to the tune of one lakh such resources.
It is a matter of pride for all of us that the Hon’ble Prime Minister of India desired to develop the GST workforce. This course would be helpful to those the ICSI students who acquired training and crossed the journey of the profession up to a point but could not accomplish the final milestone.
The ICSI took immediate and accelerated efforts in the matter and has since entered into a Memorandum of Understanding (MoU) with the National Skill Development Council, Ministry of Skill Development and Entrepreneurship, Government of India on 9th November 2017.
In terms of the said MoU, ICSI Students, among others, will be :
(a) Trained as GST Accounts Assistants without being required to pay any fee; and
(b) Eligible to provide their services as GST Accounts Assistants after the training.
The detailed scheme (modalities) is being worked out and with this move, the ICSI students will have greater employment opportunities and at the same time, they will also assist the traders, businesses, industries and other stakeholders, especially those in their towns and the provincial or rural districts of India, by providing them cost-effective and value-added services.
The ICSI students a valuable resource to the society by virtue of rigorous training undergone and a rich exposure gained by them in the process – especially those who chose to drop out midway. ICSI is planning to develop such resources as GST Accounts Assistants to enable them to take the benefit of emerging employment and other opportunities and to contribute towards this major reform to benefit the society at large.
After completing such course (scheme), participants are expected to have below mentioned learnings for being a GST Accounts Assistants:
- Identify the Fundamental Concepts of GST.
- Describe Goods & Services with their cross-linkages.
- Identify whether a transaction is taxable under CGST, IGST or SGST. Identify cases where CGST and SGST will work simultaneously
- Compute tax liabilities namely GST, making to the Government, filing of returns and maintaining records of the same for audit purpose.
- Fill the forms registered under GST.
- Make payment electronically of such amount of tax liability. Identify the Types of Payment, Modes of Payment, Rules of Collection of Tax.
- Fill-up the tax return form in the prescribed format with relevant transaction details.
- File periodic GST Returns independently.
All updates and latest information on GST Accounts Assistants will be available here as soon as it is announced. Please post your comments or queries regarding GST Accounts Assistants either on our Aftergraduation Forum or in the below comment box. Connect with us for more guidance for CST Accounts Assistants on Linkedin, Facebook, and Twitter also.