GST - Maintaining documents, accounts and records from Coursera

GST, being a transaction-level tax, requires certain documentation to be generated and maintained to comply with the law and curb malpractices. GST also has a stringent requirement for the maintenance of appropriate accounts and records. In this course, you will learn about E-invoices and E-waybills required to be generated at a transaction level. You will also learn about the accounts and records that are required to be maintained by businesses.

This course provides a platform for learners planning to launch their careers in the field of GST-related compliance in India. Learners already undertaking GST compliances may also upskill themselves with the technical skills imparted under this course. This program is industry agnostic and is relevant for anyone looking to acquire basic knowledge of GST. It will provide you with the skills required for entry level jobs in the fields of finance, tax, or law.

By the end of this course, you will learn about:

- the applicability of e-invoicing

- e-invoicing process flow, including the generation of the unique reference numbers and QR code

- the provisions related to e-way bills, their generation, validity, cancellation ,and rejection

- the need, procedure, and practical challenge in e-way bill reconciliation

- types of statutory accounts and records to be maintained under GST

- key performance indicators of an organization that are important from a GST perspective and the MIS reports required.

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Syllabus

Understanding e-invoicing

‘E-invoicing’ or ‘electronic invoicing’ is a system in which the specified type of documents generated by the taxpayer are electronically reported to and authenticated by the designated government portal. In this module, you will learn the applicability and procedure related to the generation of e-invoice for different types of taxpayers and transactions. You will also learn the process flow of e-invoicing, the steps involved in the generation of the IRN and QR code, and the aspects related to the printing and issue of invoices to the customers.

Preparing and reconciling e-way bills

An e-way bill is a document required for the movement of goods from one place to another. The e-way bill number is a unique number made available to the supplier, the recipient, the transporter and to government officials, to identify the genuineness of the movement of goods. In this module, you will learn what is an e-way bill, when it is needed, who can generate e-way bill, what documents are required for generating the e-way bill, the validity of the e-way bill as well as how it can be cancelled or rejected. In the later part of the module, you will learn about e-way bill reconciliation. E-way bill reconciliation is a process to reconcile e-way bills against the invoices raised. This helps reduce the incidence of fraud or fake invoicing and improves overall compliance. We will explain the framework of e-way bill reconciliation and take you through the entire reconciliation process. We shall also discuss various issues that come up during such process of reconciliation.

Maintaining statutory accounts and records

The words ‘accounts’ and ‘records’ are not separately defined under the GST law. The law has a common standard (subject to a few exceptions) in relation to maintenance of books of accounts, irrespective of the type of industry, nature of the product or the size of the operations. The maintenance of timely accounts and records plays a pivotal role in undertaking monthly or annual compliances under GST. In this module, you will learn the accounts and records required to be maintained by a taxpayer under the GST law. We shall also discuss some of the key performance indicators of an organization that are important for management from a GST perspective, the MIS reports which are required for obtaining data pertaining to such KPI's.

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Develops skills needed for entry level jobs in finance, tax, or law

Offers a platform for people to gain basic knowledge of GST in India

Teaches how to generate GST e-invoices

Explains GST e-waybills

Explores Statutory accounts and records

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Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in GST - Maintaining documents, accounts and records with these activities:

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Join an online forum dedicated to GST discussions.
Offer your assistance to other members seeking guidance.
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Career center

Learners who complete GST - Maintaining documents, accounts and records will develop knowledge and skills that may be useful to these careers:

GST Consultant

As a GST Consultant, you will guide clients on GST-related matters. This course will teach you about e-invoicing, e-way bills, and other GST-related topics. This course will enhance your knowledge in the domain and help you succeed as a GST Consultant.

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Tax Lawyer

As a Tax Lawyer, you will advise clients on tax matters and represent them in tax disputes. This course will help you understand the technicalities of GST, e-invoicing, and e-way bills. This will enable you to provide sound advice and representation to your clients.

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Tax Compliance Analyst

As a Tax Compliance Analyst, you will ensure an organization's compliance with tax laws and regulations. This course will help you understand the complexities of GST, e-invoicing, and e-way bills. This understanding will enable you to keep organizations out of legal trouble and protect their reputation.

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Tax Auditor

As a Tax Auditor, you will examine an organization's financial and accounting systems to ensure compliance with federal tax laws. E-invoices and e-way bills are used to curb malpractices and ensure compliance. The knowledge you will gain in this course can help you ensure accuracy and help organizations avoid fines.

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Auditor

As an Auditor, you will examine an organization's financial statements and accounting systems to ensure accuracy and compliance with tax laws. This course will provide you with the skills needed to understand and verify e-invoices and e-way bills. This will help you to produce accurate reports and recommendations for your clients.

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Tax Accountant

As a Tax Accountant, you will examine financial statements, prepare tax returns, and write reports. Understanding the GST is important for working in this field, and this course will help you stay compliant. E-invoices and e-way bills are specific areas that you will learn about which have a significant impact on the work of a Tax Accountant.

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Accountant

As an Accountant, you will record financial transactions, prepare financial statements, and compile tax returns. Proper accounting is critical for GST compliance. This course will help you to understand the GST implications of various transactions and will enhance your accounting knowledge.

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Tax Specialist

As a Tax Specialist, you will guide clients on tax matters and help organizations stay compliant with local, state, and federal tax laws. This course will help you build the foundation necessary to understand Indian tax laws and provide expertise to your clients.

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Finance Manager

As a Finance Manager, you will oversee an organization's financial activities, including budgeting, financial reporting, and cash flow management. Having a strong understanding of GST, e-invoicing, and e-way bills will ensure that the organization is meeting its tax obligations and staying compliant in this highly regulated environment.

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Budget Analyst

As a Budget Analyst, you will develop and monitor budgets for organizations. This course will help you to understand the GST implications of various budgeting decisions. This will enable you to create and manage budgets that are compliant with GST regulations.

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Financial Analyst

As a Financial Analyst, you will analyze financial data to make recommendations on investments and financial decisions. This course will help you to understand GST and its implications on financial statements. This knowledge is critical for making sound financial decisions in a GST environment.

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Tax Preparer

As a Tax Preparer, you will help individuals and businesses prepare and file their tax returns. This course will help you to better understand how GST affects your clients, and you will be able to provide accurate guidance and returns.

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Management Consultant

As a Management Consultant, you will help organizations improve their performance. This course will help you to understand the impact of GST on businesses and their strategic decisions. This knowledge will enable you to provide valuable advice to your clients on how to optimize their operations and stay compliant.

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Business Analyst

As a Business Analyst, you will analyze business processes and systems to identify areas for improvement. This course will help you to understand the impact of GST on business processes and systems. This knowledge will enable you to make recommendations for improvements that will help organizations to streamline their operations and stay compliant.

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Project Manager

As a Project Manager, you will plan, execute, and close projects. This course may be useful for understanding the GST implications of project budgets and timelines.

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