Lower slab or Removal of GST demanded by Coaching Institutes
Lower slab or Removal of GST demanded by Coaching Institutes
New Delhi, July 26(HS) A group of representatives from different coaching centres across India met Finance Minister on Wednesday in New delhi. Citing negative effect of high rate of Goods and Services Taxes(GST) on coaching centres, they asked for removal of current 18 pc GST on coaching centres or lowering it to the lowest GST slab. They reasoned that lowering GST slab would bring benefits to lakhs of students and their parents, as approximate 25 lakhs students join coaching institutes for preparation of engineering and medical admission tests. They also discussed about various types of taxes and their extent imposed on coaching centres and ultimate effect of these taxes on students.
In response to this, Sitharaman said if the issue of GST on coaching institutes is raised by finance ministers of each state, this issue would be considered positively. Therefore to address this matter effectively, the coaching institutes would need to convey this matter to respective state finance ministers.
It is noteworthy that the representatives of coaching institutes who met Finance Minister were from Rajasthan, Madhya Pradesh, Bengaluru, Hyderabad, Maharashtra.
