IMPACATION OF GST IN INDIAN EDUCATION SECTOR
Author(s):
Dr.Shrikesh Poojari, DR.SANOJ KUMAR
Keywords:
Goods and Service Tax, Education Sector, Indirect Tax, Students
Abstract
This study aims to understand the taxation system of our Country and its impact on educational sector in India. GST (Goods and service tax) is major tax reform, in indirect tax structure of India since Independence. It was designed to provide the support and enhancing the economic growth of India. The idea to set up GST in India was put forth by Atal Bihari Vajpayee government in 2000, It is the biggest tax reform in India since Independence and was implemented by the Government of India on 1st of July 2017. Prior to this date, the system to collect indirect tax was complex as there were different heads of Indirect taxes but GST introduces the system which unifies 17 heads of Indirect taxes into one single set. At present, taxes are levied on the goods and services by the collective effort of central and state governments Goods and Services Tax is the tax that is levied on all goods and services based on their destination and India adopts a dual GST system by introducing Central GST (CGST) and State GST (SGST). It improves the taxation system of our Country by reducing the multiplicity and cascading effects of taxes and by bringing out transparency and improves compliances in every transaction. GST is the only indirect tax that affects all the sectors and sections of our economy. Education is one of the major sectors of any economy and the future of any country depends on the quality of education provided to the youth. Education promotes understanding, vision, creativity and productivity of people which helps in advancement of a country. In India, Education is provided by public as well as private sector. Indian government’s foremost priority is to provide low-cost education to one and all. That’s why education sector enjoys lots of tax exemption. GST council tried to provide maximum exemptions or keep away from the GST regime to the educational sector. This study analyses GST and its impact on educational Sector based on the secondary data.
Article Details
Unique Paper ID: 157331

Publication Volume & Issue: Volume 9, Issue 6

Page(s): 610 - 613
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