Respected sirs' .....
......One of the fundamental and inexorable laws of Capitalism in general and Monopolistic economies in particular is creeping inflation to galloping inflation......
....GST, if I am not mistaken has increased the banking tariff ..... any increase in the cost of finance capital (banking capital plus industrial capital) will ultimately make contribution to rising inflation and reduction in the level of people's living standards, which includes the cost of Education .....
....however, reduction of tariff to some of the essential necessaries such as rice, wheat and food related items is welcome......GST would have been reduced upon the most essential necessaries which includes dress materials, shoes, oils of all brands, whether branded or not, similarly packaged or not... .....
....reduction in the cost of Banking services, which includes housing loans, banking related insurance, etc. will make positive contribution to the over all growth of economy and increased living standards.....
....with regards..... dr vishnumurty narra, psu officer, hyderabad....
On Saturday, 1 July 2017 10:30 AM, Prof. Bholanath Dutta <bnath.dutta@gmail.com> wrote:
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:
- Services provided by the training providers (Project implementation agencies) under Deen Dayal Upadhayaya training courses certified by National Council for Vocational Training
- Services of assessing bodies empanelled centrally by Directorate General of Training Ministry of skill Development and Entrepreneurship by way of assessments under skill Development initiative Scheme
- Services by way of training activities relating to arts or culture or sports by charitable entities registered under section 12AA of Income Act, 1961
Services 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 Management
Services 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 equivalent
Here'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 students so; 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 Geeta Varshneya, 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.
Source: India Today
EDUCATE, EMPOWER, ELEVATE
Prof. Bholanath Dutta
Founder & President
MTC Global: A Global Think Tank in
Higher Education, ISO 9001: 2008
Partner: UN Global Compact I UN Academic Impact
Cell: +91 96323 18178 / +91 9964660759
The views expressed are individual and not necessarily MTC Global also share the same views. To unsubscribe from the group , please send an email to join_mtc@googlegroups.com and write the heading as 'Unsubscribe'. Immediate action will be taken.
---
You received this message because you are subscribed to the Google Groups "Management Teachers Consortium, Global" group.
To unsubscribe from this group and stop receiving emails from it, send an email to join_mtc+unsubscribe@googlegroups.com.
For more options, visit https://groups.google.com/d/optout.
0 comments:
Post a Comment