IMPLICATIONS OF GOODS AND SERVICE TAX ON -EDUCATIONAL SECTOR

EDUCATIONAL SECTOR

Present study tries to comprehend the country's current taxation structure and its effects, both positive and negative, on India's educational sector. The Government of India adopted the Goods and Services Tax (GST), the largest tax reorganization in country after freedom, on July 1st, 2017. India implements a twin GST scheme by presenting Central GST (CGST) and State GST (SGST). The tax imposed on all goods and services-based on their final terminus is known as the "goods and services tax." By decreasing the multiplicity and cascading impacts of taxes, increasing transparency, and improving compliance in every transaction, it enhances our nation's taxation system. The only indirect tax that touches every sector and area of our economy is the GST. The forthcoming of any nation rests on the superiority of education given to young people, which is one of the foundational pillars of any economy. While they claim numerous tax exclusions or fall under the category of the negative list, the educational industry has benefited from the government. India has both public and private educational institutions, but the government favors free teaching for all citizens. The GST Council aimed to provide the educational sector the most exemptions possible or exempt it from the GST regime in order to reduce the cost on end users. Based on secondary data, this paper examines how the Goods and Services Tax has affected the educational sector.

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