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Anurag Thakur blasts ICC chairman Shashank Manohar, accuses him of leaving BCCI in lurch

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GST’s impact on the education: Here’s how it will strike this sector

first_imgThe Goods and Services Tax (GST), which is India’s biggest tax reform, was implemented at midnight yesterday.According to reports, Prime Minister Narendra Modi at Parliament’s historic Central Hall, in the presence of President Pranab Mukherjee will be releasing the GST.With a motive to make the taxation process simpler by eliminating the concept of multiple taxations, the GST is all set to strike the education sector as well.  Education has always been one of the most important segments. Also, a lion’s share of economy is fulfilled by the quality education and high levels of literacy. Thus, providing low-cost and quality education to the children has remained our nation’s main objective.  (Read: GST Anti-profiteering panel to be set up to ensure consumer welfare ) The Goods and Services Tax has finally approached creating an impact on the education sector. According to the much awaited amendment, the GST on colouring books, exercise books, notebooks, crayons will be 12 per cent whereas for pens and school bags, it would be 18 per cent. Talking about the services, some of the educational institutions would be exempted from the GST and similar pattern would be followed with traditional courses. The coaching institutions for competitive exams will face a major impact as they will face the GST up to 18 per cent. Certainly, the marked down tax on the education based goods may even up due to the GST applied on some of the services in the education sector. However, some of the services that would be exempted from the GST as per the GST Act are as follows:advertisementServices provided by the training providers (Project implementation agencies) under Deen Dayal Upadhayaya training courses certified by National Council for Vocational TrainingServices of assessing bodies empanelled centrally by Directorate General of Training Ministry of skill Development and Entrepreneurship by way of assessments under skill Development initiative SchemeServices by way of training activities relating to arts or culture or sports by charitable entities registered under section 12AA of Income Act, 1961Services provided by the Indian Institutes of Management, as per the guidelines of the Central Government, to their students, by way of the following educational programmes except Executive  Development Programme: (a) Two year full time residential Post Graduate Programmes in Management for the Post Graduate Diploma in Management, to which admissions are made on the basis of Common Admission Test (CAT), conducted by Indian Institute of Management(b) Fellow programme in Management(c) Five year integrated programme in ManagementServices provided by an educational institution to its students, faculty and staff; to an educational institution, by way of:(i) Transportation of students, faculty and staff(ii) Catering, including any mid-day meals scheme sponsored by the Government(iii) Services relating to admission to, or conduct of examination by, such institution(iv) Security or cleaning or house-keeping services performed in such educational institution.Provided that nothing contained in clause (b) of this entry shall apply to an educational institution other than an institution providing services by way of pre-school education and education up to higher secondary school or equivalentHere’s what Education Director has to say:”Education is the most important facet of our economy and the government should reduce the taxes related to this sector. Higher education is also a requisite part for studentsso; the amendments should be such that they promote higher education for all.  When it comes to taxation, we hope that the government continues to keep education in a secured zone” says GeetaVarshneya, Education Director, Khaitan Public School.In order to promote the advancement of education sector, the government has offered relief on education based goods. The officials suggest that stability in the sector would be recorded for the initial stretch but there is still no clarity about the GST for upcoming years.”Education at all levels should be least burdened as it’s already the most important considered section in our nation. For the past so many years, we have been witnessing the advent of schemes promoting literacy rate in various regions of our country. Thus, GST rate should be in line with the schemes promoting education for all,” said Anita Choudhary, Vice Principal, DPS Raj Nagar Extension.Read: UP government school textbooks to be available online for free, audiobook option available for visually impaired Read: Textbooks shouldn’t be used as ‘ideological battleground’ for any political point-scoring: Manish Sisodia Click here for examination, admission related news.For more updates. follow India Today Education or you can write to us at [email protected]last_img read more

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