A Study of Goods and Service Tax (GST) and its Impact of Education Sector in India: A Secondary Data Analysis

Abstract

Education is one of the major sectors of any economy. The education of country’s youth decides how the economy of that country will flourish. Education promotes understanding, vision, creativity and productivity of people which helps in the advancement of a country. In India, Education is provided with both by the public as well as private sector. Indian government’s foremost priority is to provide low-cost education to each and every person. That’s why education sector enjoys lots of tax exemption as they are not taxed or comes in the negative list. For every benefit received, there is a cost which could be in form of tax also. Perhaps this seemed never so real than today in the Indian context. The much thoughtful leaders of India have spared the education sector all along from levy of taxes considering the importance of the same for the country. If a country wants to grow manifold than building infrastructure for education and educated infrastructure (people of the country) is a pre-requisite. The more knowledgeable the human capital of a country is more are its chances of development. While 'education' continues to be of utmost importance for the country's economic growth, it also has been a priority for the Government in extending tax benefits and other concessions to boost education (both primary and professional or technical) in the country.

Through this research paper researcher wants to show that, the concept of GST of Indian taxation system and the impact of GST in education sector as well as students life style also.