This course is part of the PwC GST Taxation Executive Professional Certificate

Tax Academy

Offered By

PwC GST Taxation Executive Professional CertificatePwC India

About this Course

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GST, if applicable, can be paid in cash or through the utilization of input tax credit, also commonly known as ITC. In this course, you will learn about the concept of the input tax credit, conditions , and restrictions on availing and utilizing ITC, legal requirements and procedures for reconciliation of ITC , and the concept of distribution of ITC. Input tax credits, along with valuations, play an important role in the pricing of goods and services.
This course provides a platform for learners planning to launch their careers in tax or sharpen their skills with the technical understanding of GST law in India. 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:
- Know what is input tax credit and the conditions for availing of such credit 
- Learn about the restrictions on the availment of credit and understand when credit needs to be reversed
- Know the legal requirement for performing reconciliation of purchase records and the detailed process for the same
- Identify the practical challenges one may face while performing the reconciliations
- Understand the concept of input service distributor, as well as, when and how it needs to be applied.

Flexible deadlines

Reset deadlines in accordance to your schedule.

Shareable Certificate

Earn a Certificate upon completion

100% online

Start instantly and learn at your own schedule.

Course 3 of 7 in the

PwC GST Taxation Executive Professional Certificate

Beginner Level

Learner should be familiar with basic numeric calculations, MS Excel skills, and accounting principles.

Approx. 9 hours to complete

English

What you will learn

Define and explain the key concepts for the availment and utilisation of input tax credit.
Critically analyse whether tax paid on purchases can be availed as input tax credit.
Examine whether or when input tax credit availed needs to be reversed and the reasons thereof.
Distribute the tax appropriately through an ISD and undertake the necessary compliances.

Skills you will gain

Credit reconciliation
Credit distribution
Problem Solving
Input tax credit
Interpretation

Flexible deadlines

Reset deadlines in accordance to your schedule.

Shareable Certificate

Earn a Certificate upon completion

100% online

Start instantly and learn at your own schedule.

Course 3 of 7 in the

PwC GST Taxation Executive Professional Certificate

Beginner Level

Learner should be familiar with basic numeric calculations, MS Excel skills, and accounting principles.

Approx. 9 hours to complete

English

Instructor

Tax Academy

An initiative by PwC Academy

2,022 Learners

7 Courses

Offered by

PwC India

Syllabus - What you will learn from this course

Week1

Week 1

4 hours to complete

Availing and utilising input tax credit

4 hours to complete

10 videos (Total 53 min), 21 readings, 1 quiz

10 videos

Welcome to GST Taxation Executive Professional Certificate1mIntroduction to the course: GST - Using input tax credit1mIntroduction to the module2mWhat is ITC: Overview and conditions for availment5mWhat are the restrictions on availment of ITC10mWhat is the manner of availment of ITC5mReversal of ITC 11mITC - Key points to consider - Part 18mITC - Key points to consider - Part 24mKey takeaways1m

21 readings

Program description and course syllabus5mGST in India15mRole of a GST professional10mHelpful tips to get started5mLegal provisions - Overview of ITC3mLegal provisions - Conditions for availment of ITC10mCBIC Circular on availment of ITC2mCBIC GST FAQs - Relevant extracts 3mLegal provisions - Restrictions on availment of ITC5mCBIC GST FAQs - Relevant extracts 2mPwC News Flash - Safari Retreats & ARS Steels15mAAAR - M/s SHV Energy Pvt. Ltd.5mAAAR - M/s CMS Info Systems Limited5mManner of availment and reversal of ITC 30mCBIC GST FAQs - Relevant extracts2mReversal of ITC25mCBIC GST FAQs - Relevant extracts2mLegal provisions - Matching of ITC2mCircular - Transactions involving fake invoices2mGujarat High Court on Rule 86A of the CGST Rules10mNotifications amending key provisions on ITC restriction5m

1 practice exercise

Graded assessment - Input tax credit15m

Week2

Week 2

2 hours to complete

Reconciling input tax credit

One of the key challenges of the erstwhile tax regime was that the levy of taxes had a cascading effect. In the GST regime, this was sought to be remedied by allowing input tax credit, commonly known as ITC, on procurements. In the module on ITC, you would have learnt that ITC can only be availed if the supplier has furnished the details of the invoice in their statement of outward supplies and has paid the tax to the Government.

2 hours to complete

9 videos (Total 43 min), 10 readings, 2 quizzes

9 videos

Introduction to the module2mIntroduction and background5mInvoice-level matching under GST – Procedure7mReconciliation methodologies7mAnalysing vendor reconciliation mismatches4mAnalysing vendor reconciliation issues - Part 15mAnalysing vendor reconciliation issues - Part 22mCredit reconciliation - Key points to consider 3mKey takeaways3m

10 readings

Legal provisions - Availment of ITC upon matching15mFAQs and process manual - GSTR-2A (optional)Relevant CBIC Circulars2mRe-opening of GSTN portal for transition credit forms5mReconciliation Process5mUser manual GSTR-2B (optional)HC Ruling - M/s D.Y. Beathel Enterprises5mHC Ruling - M/s Bharat Aluminium Company Limited5mHC Ruling - M/s LGW Industries Limited5mM/s Progressive Stone Works vs The Joint Commissioner5m

2 practice exercises

Vendor reconciliation issues: Hands-on-project20mGraded assessment - Reconciling input tax credit15m

Week3

Week 3

4 hours to complete

Distributing input tax credits

An input service distributor or ISD is a facility made available to businesses to distribute the tax paid on input services from a centralised location. By using this mechanism, a manufacturer could transfer the credit of service tax on services availed at the head office to its factories where the manufacturer had output excise liability. In this module, you will learn what an ISD is, the manner of distribution of tax, the compliance requirements and the process of reconciliation prior to tax distribution.

4 hours to complete

9 videos (Total 54 min), 13 readings, 2 quizzes

9 videos

Introduction to the module3mConcept of input service distributor - Part 15mConcept of input service distributor - Part 24mManner of distribution of ITC by ISD8mCompliance requirements for an ISD - Part 15mCompliance requirements for an ISD - Part 26mITC reconciliation - invoice matching - Part 113mITC reconciliation - invoice matching - Part 25mKey takeaways1m

13 readings

Legal provisions - Concept of Input service distributor3mCBIC GST FAQs - Relevant extracts5mCBIC GST FAQs - Relevant extracts3mOrissa HC - M/s JSW Steel Ltd. 5mAAAR - M/s Cummins India Limited15mAAR - M/s Tata Sia Airlines Ltd.5mLegal provisions - ITC distribution by ISD15mCBIC GST FAQs - Relevant extracts5mLegal provisions - Compliance requirements for an ISD5mLegal provisions - Key points ISD return30mCBIC GST FAQs - Relevant extracts5mLegal provisions - ITC matching10mRule 36 of the CGST Rules and related notifications10m

2 practice exercises

Graded assessment - Input service distributor15mHands-on-project: Distribution of ITC among branches under ISD 10m

About the PwC GST Taxation Executive Professional Certificate

Want to start a new career as a GST professional in India or want to enhance your GST knowledge as an accountant or Tax executive? Goods and Services Tax(GST) specialists are in high demand as companies seek individuals with expertise to help them implement and comply with this landmark tax reform. They are responsible for preparing and filing tax returns, preparing payments, identifying tax savings, and analyzing tax issues.

Designed by PwC India, this program will help you gain in-demand skills in the field of GST. You’ll learn about India's GST landscape and fundamentals, understand GST compliances, how and when to apply GST, and how to undertake GST compliances and file returns. You’ll gain practical knowledge of GST and apply your new skills to real world scenarios by examining actual transactions and case studies. Upon completion, you will earn a Professional Certificate from PwC India and will have job-ready skills for entry level GST jobs in India. This is an industry-agnostic program relevant to anyone looking to acquire basic knowledge of India GST. Learners can sharpen their skills in specific GST areas such as technical aspects, compliances, and tax dispute resolution. To be successful, it will be helpful to be familiar with basic Excel, basic arithmetic formulas, and the concepts of purchase, sale, receipts, and payments.

Frequently Asked Questions

When will I have access to the lectures and assignments?
Access to lectures and assignments depends on your type of enrollment. If you take a course in audit mode, you will be able to see most course materials for free. To access graded assignments and to earn a Certificate, you will need to purchase the Certificate experience, during or after your audit. If you don't see the audit option:
The course may not offer an audit option. You can try a Free Trial instead, or apply for Financial Aid.
The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.
What will I get if I subscribe to this Certificate?
When you enroll in the course, you get access to all of the courses in the Certificate, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.
How do I obtain the course certificate?
Upon successful completion of each course, you will be eligible for that respective course completion certificate. To obtain the PwC - India GST professional certificate you must complete all seven courses.
Who is this program for?
This program is industry agnostic and would be relevant for anyone looking to acquire basic knowledge of GST.
What background knowledge is necessary?
Learner should be familiar with basic numeric calculations, MS Excel skills, and accounting principles.
Do I need to take the courses in a specific order?
Yes, it is recommended that you take the courses in the specific order from one to seven.
What will I be able to do upon completing the specialization?
It will provide you with the skills required for entry and mid-level jobs in the fields of finance, tax and law.

More questions? Visit the Learner Help Center.

GST - Using input tax credit

About this Course

What you will learn

Skills you will gain