GST Could Affect Students And Higher Education
How GST Could Affect Students And Higher Education
GST or tax on goods and services was launched at midnight at a function in central parliament Friday. The largest tax reform since independence will change the country’s indirect tax landscape, assuming more than a dozen separate state taxes and state.
So what do you have reserved for students?
Consider the case of Reetika Sethi, 22, who hopes to study International Business. For many like her, higher education may soon become more than expected. “At a 15 percent service rate, this equates to 18 percent, resulting in extracurricular activities, my books and everything else. This will be an additional burden for my parents,” he said.
Under the GST, education in pre-school and still remain tax free. However, the services offered by colleges and universities will now be taxed at 18% compared to the previous 15%. This tax could make products, services, transportation and other products on campus or expensive campus services.
It is not all; The impact was also felt by students who choose to train classes and non-conventional courses, which will also produce 3 percent as the GST.
“Education today is an absolute necessity and students have no choice but to pay more for quality education.” Other concerns are that there are many students who do not come from financially sound means. Their own perception is certainly the education sector as coverage should have been left without GST or more charged a tax of 3, 4 or 5 percent, “said Naveen Chopra, President of Chopra education consulting company.
However, everyone does not agree. Educators such as CP Shrimali, Acting Director, MDI Gurgaon, take into account the long term GST will have a positive impact on the economy and education sector.
“I do not think a 3 percent increase in college fees will make a big difference for students or colleges. In the long run, I think universities can pass on benefits to students like rate hikes, which were from another Mode around 7-8 percent per year, due to inflation, “said M. Shrimali.
Registered students and those who planned to enroll in various Kota training institutes had already asked Prime Minister Narendra Modi to exempt GST training rates.