INSUBCONTINENT EXCLUSIVE:
Shukla on Tuesday said government is open to reconsider Goods and Services Tax (GST) rates on certain components in education sector
Speaking at a pre-budget discussion on expectations for education, entrepreneurship and employability, Minister said tax on certain
components in education sector can be reviewed based on strong reasoning."Though there is demand for tax cuts from all sectors and large
revenue is needed to run country, you can come up with your recommendations for reviewing GST on certain components in education sector," he
said at a roundtable jointly organised by consulting group StratFirst and industry body Assocham."If there is strong reason to review tax
interactive interface for public and private players in knowledge sector, has provided a platform for pre-budget discussion in education
It also came out with a joint report with Assocham.The report, which advocates lowering cost for both students and educational institutions,
said all ancillary services to higher educational institutions have been made taxable under GST increasing cost of education by about seven
education."It is proposed to partially exempt GST on outsourced services in higher education from 18 per cent to 5 per cent, to create
low-cost educational institutions that offer services at all levels -- primary, secondary and higher education," report said.The report also
suggested a scheme on lines of Ayushmaan Bharat for education sector as well to provide benefit of education to masses of country
The bright students must be rewarded under such schemes, it said."I congratulate StratFirst India and Assocham on organising an excellent
discussion on Budget Expectations for 3E's -- Education, Entrepreneurship and Employability
Fostering conversations in these key sectors, involving all stakeholders is only way forward in resolving vital issues which will help India
claim its rightful place in new world order," JNU and Melbourne University professor Amitabh Mattoo said.Further, participants recommended
tax sops to attract quality employment in education."It was noted during conference that India lacks more than two million teachers
To motivate people to join teaching as a profession, it is proposed that teachers, professors and researchers be eligible for a special tax
regime," a release said.Taxable income for employees of educational institutions can be calculated after giving a standard deduction or
raising a threshold exemption limit for them, it said."We are very glad to see level of interest and more specifically convergence of
thought between government and private sector in helping to boost education, entrepreneurship and employability in India
We are looking forward to presenting report from today's discussion to Finance Minister Arun Jaitley," StratFirst India Brand Consultant
