upasana gupta
(Finance Professional)
(3931 Points)
Replied 13 July 2017
No gst is not applicable to educational sector The institutes that provide higher education will have to pay GST. Private education will also incur GST and most likely will be taxed at the lowest slab of 5% under the Goods and Services Tax (GST) law. The GST rate of tax and the allowance of input tax credit or ITC could moderate the impact of taxes but an increase in the cost of education to the students is likely by at least 2 %to 3%.
vasanti
(Accountant)
(24 Points)
Replied 16 July 2017
Thanks Upasana,
for your valuable guidence.
Regards,
Vasanti
CAclubindia
