• Dr. Ram Shankar Das
• Dr. Mumtaz Shariff

Goods and Services Tax (GST) has been introduced on July 1, 2017. It intends to unite indirect taxes under an aegis. The Indian GST case is deliberated for effectual tax collection, checking corruption, and facilitating smooth inter-state movement of goods etc. It has fixed four-tier tax slabs of 5, 12, 18 and 28 per cent for the services. It asserts to subsume all central and state rates into a single national tax. The GST is centred on the input tax credit method, a consumption based tax charged on the supply of Goods and services which means; it is to be levied and collected at each stage of sale or purchases of goods or services. The kernels of GST in India were the first seeded in the year 2000 by Atal Bihari Vajpayee, the then Prime Minister of the nation. A period further in 2005, the then finance minister P. Chidambaram, in his Parliament budget session, announced that there was a grave necessity of the tax reforms in India in the sphere of indirect taxation. In 2010, the then finance minister, Pranab Mukherjee, in his budget address, said that the GST will be presented in April 2011. In the budget session of the year 2011, the 115th constitutional amendment bill was announced in Loksabha for levying the GST on all goods and services, other than some definite goods which were to be kept outside the GST periphery for the value of the general public. Eventually, in 2014, the GST bill was approved in Lok Sabha as the 122nd constitution bill. And in 2016, Political parties congregated to extend their support for the Goods and Services Tax (GST) bill, and, the bill was ratified in the Rajya Sabha as well. The GST frame work in India is said to be fashioned on the Canadian model, but distinctive at the same time. If we examine other GST applications there was a robust rebel at the time of the first course of GST succoured despite the opposition. France was the first country to implement GST to condense tax-evasion. Ever since over 140 countries have implemented GST law in various forms. Indian GST is not at all seamless as all taxes are not being fused. One of the notable differences between GST in India and GST in other countries is that two types of GST are charged in India. Both of the levels of Government have diverse duties to accomplish rendering to the dissection of powers prescribed in the constitution for which they need to rear resources. GST is levied on transactions, which are voluminous for most business organisations, the progressions, and variations required for GST compliance need to be mechanized and netted in the IT system. It is detected that many big businesses either backfired or writhed to achieve IT makeover for having not premeditated early. It would be incorrect to undertake that IT software with GST proficiency from other countries could be embraced indiscriminately in India, due to peculiarities entrenched in the projected Indian dual GST model. As well, the Indian GST system stations the small and medium enterprises (SMEs) and large scale industries at the same level by keeping the exemption brink very competitive without any tax disparity. There is a task ahead for SMEs to be able to invest, change and read in the way similar to large-scale players. GST Council has modified the 28% tax slab by reducing the rate of taxation on 191 goods over the first 1 year. This leaves just 35 items in the high tax category. When the goods and service tax implemented on 1st July 2017 there were 226 items in the highest tax bracket of 28%. The GST council has reduced the taxation on 191 items in the last 1 year. There could be further reduction in tax rates in the future. So that only super luxury products are taxed in the highest slab.

GST, Educational Institutions, Tax-evasion, Transaction, SMEs, Taxation

"A CONCEPTUAL STUDY ON GST WITH REFERENCE TO EDUCATIONAL ORGANISATIONS", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 3, page no.637-645, March-2019, Available :http://www.jetir.org/papers/JETIR1903387.pdf

"A CONCEPTUAL STUDY ON GST WITH REFERENCE TO EDUCATIONAL ORGANISATIONS", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 3, page no. pp637-645, March-2019, Available at : http://www.jetir.org/papers/JETIR1903387.pdf