Friday, March 5, 2021
National Skills Network
  • Home
  • Skill Story
  • Skill Talk
  • News
    • Events
    • News digest
    • NSN Newsletter Archives
    • Other Newsletters
  • Resources
    • How To’s
    • Reports
    • E-books
    • Construction Learning Videos
    • Learning Videos
    • Upcoming webinars and virtual events
  • Skill2Jobs
    • Employability Skills
    • Apprenticeships & Internships
    • Jobs
    • Projects
  • About us
  • Success Stories
No Result
View All Result
  • Home
  • Skill Story
  • Skill Talk
  • News
    • Events
    • News digest
    • NSN Newsletter Archives
    • Other Newsletters
  • Resources
    • How To’s
    • Reports
    • E-books
    • Construction Learning Videos
    • Learning Videos
    • Upcoming webinars and virtual events
  • Skill2Jobs
    • Employability Skills
    • Apprenticeships & Internships
    • Jobs
    • Projects
  • About us
  • Success Stories
No Result
View All Result
National Skills Network
No Result
View All Result

Impact of GST on skill development, training and jobs: A perspective

by Guest Author
July 1, 2017
in Skill Talk, Training partners
2

We have just witnessed a historic moment when Goods and Service Tax (GST) was launched in the midnight session of Parliament on 1st July 2017. GST rollout is a massive step in bringing in One-Nation, One-Tax regime. Post roll-out, there will be a high demand for many professionals with knowledge and skills in GST implementation. Hence, there is a need to complement GST implementation with appropriate training and skill development in relevant industry sectors.

This move is going to be a game changer in India’s economic activity both in creating job opportunities and boosting further education sector. In this guest article Sameer Joshi, Chief Business & Alliances Officer, Kohinoor Group and CEO & Director, Kohinoor Technical Institute Pvt. Ltd. shares his opinion and puts forth his perspective on how GST will have a positive impact on job creation and the need for skilled workforce to fulfill new job roles.

How skilled workforce can ease transition to GST

India’s corporate sector is engaged today in aligning their financial and accounting systems under this new regime. And to achieve the same, it needs a specialized workforce across accounting systems, legal compliances, taxation and data analysis. This is where huge demand of professionals exists. So, from employment perspective, there is huge potential that can be seen under two phases – immediate boost for implementing GST across business sectors and then a steady state demand for ongoing activities going forward.

In fact, some of the renowned staffing agencies have predicted an annual growth to the tune of 10-13% in the formal job creation because of GST. As per market sources, sector-wise, the immediate high impact segments of this regime are expected to be e-commerce, BFSI, Consumer durables, auto sector, media and entertainment, hospitality, pharmaceutical and telecom. Of course, criticality remains on infrastructure and achieving transition mitigation modalities in time.

gst skills training jobsGST’s impact on education sector

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 / technical) in the country. Education in India is presently covered as one of the priorities of the Government and as such is allowed tax relief both in direct and indirect taxes.

Skill development initiatives to continue with Service Tax Exemptions under GST

As per government notification under title Service Tax Exemptions to be continued in GST as decided by GST Council confirms –

Any services provided by (i) the National Skill Development Corporation set up by the Government of India; (ii) a Sector Skill Council approved by the National Skill Development Corporation; (iii) an assessment agency approved by the Sector Skill Council or the National Skill Development Corporation; (iv) a training partner approved by the National Skill Development Corporation or the Sector Skill Council in relation to

  • (a) the National Skill Development Programme implemented by the National Skill Development Corporation; or
  • (b) a vocational skill development course under the National Skill Certification and Monetary Reward Scheme; or
  • (c) any other Scheme implemented by the National Skill Development Corporation.

This means government’s key focus on Skill India mission will further boost vocational education and training under this new regime to create more skilled work force. It’ll be a great opportunity for Training Partners to create short term certificate programs under BFSI category on GST to attract young people to enroll, get skilled on GST which has a good employment potential as mentioned above.

Tags: Goods and Service Tax (GST)GST impact on training skill development job creationGST Roll outOne Nation One TaxSameer Joshi Kohinoor Technical InstituteService tax exemptions from NSDCtraining partners tax exemption
Previous Post

MSDE launches 100-hour Course under PMKVY to help GST Implementation

Next Post

Impact of GST on Training Partners in Skill Development and Vocational Education and Training (VET): A Perspective

 

Next Post
GST impact on training partners

Impact of GST on Training Partners in Skill Development and Vocational Education and Training (VET): A Perspective

Comments 2

  1. VISHV BHUSHAN says:
    3 years ago

    It also means that every training agency should run government funded courses only to avail benefit of GST exemption.
    If a person from economically poor family wish to join a skill training program which is not funded under any government scheme, have to pay 18% GST to the training agency over and above basic training fee.
    Isn’t it ?

    Reply
  2. ritesh says:
    4 years ago

    Article is quiet encouraging however it dosent show that how it will happen.
    Being as a part of MSDE and an expert on SSC I feel it would be too early to say anything.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Subscribe to our bi-weekly newsletter

  • Trending
  • Comments
  • Latest
10 best online learning portals in India for students and teachers

10 best online learning portals in India for students and teachers

June 26, 2020
Mahatma Gandhi National Fellowship MGNF MSDE IIM

Applications for Mahatma Gandhi National Fellowship (MGNF) now open!

February 18, 2021
UGC approval for new skill-based courses_ List of Newly Approved Institutions

UGC approval for new skill-based courses: List of newly approved institutions

February 21, 2021
BSNL certified vocational internships

BSNL certified vocational internships for engineering diploma students

May 25, 2020
Siemens Technical Academy STA

Siemens Technical Academy (STA), Mumbai – German Dual VET transforms the lives of youth in India

213
Pradhan Mantri Kaushal Kendra PMKK

Pradhan Mantri Kaushal Kendra – PMKK

98
B.Vocational Degree

B.Voc Degree Courses: What do they offer and who can apply?

76
Recognition of Prior Learning RPL

Recognition of Prior Learning – RPL

76
Attracting youth to welding, making it an aspirational career choice

Attracting youth to welding, making it an aspirational career choice

March 4, 2021
Trainers – the real influencers of change

Trainers – The real influencers of change

March 3, 2021
Ministry of Health to set up 140 skilling centers for Emergency Medical Services

Ministry of Health to set up 140 skilling centers for Emergency Medical Services

March 2, 2021
Newsbytes on Skill Development and Vocational Training – 02032021

Newsbytes on Skill Development and Vocational Training – 02032021

March 1, 2021

Recent News

Attracting youth to welding, making it an aspirational career choice

Attracting youth to welding, making it an aspirational career choice

March 4, 2021
Trainers – the real influencers of change

Trainers – The real influencers of change

March 3, 2021
Ministry of Health to set up 140 skilling centers for Emergency Medical Services

Ministry of Health to set up 140 skilling centers for Emergency Medical Services

March 2, 2021
Newsbytes on Skill Development and Vocational Training – 02032021

Newsbytes on Skill Development and Vocational Training – 02032021

March 1, 2021

ABOUT

National Skills Network (NSN) captures and shares the positive impact of various training, skill development and vocational education initiatives in India.

To know more about Our Team: Click here

ADDRESS

National Skills Network – NSN
c/o NSN Media Services
Launchpad, Center for Innovation and Entrepreneurship (CIE)
IIIT, Gachibowli, Hyderabad – 500032
Email us: contact@nationalskillsnetwork.com

Subscribe to our bi-weekly newsletter

  • About
  • Privacy
  • Contact

Copyright © 2021 National Skills Network - NSN

No Result
View All Result
  • Home
  • Skill Story
  • Skill Talk
  • News
    • Events
    • News digest
    • NSN Newsletter Archives
    • Other Newsletters
  • Resources
    • How To’s
    • Reports
    • E-books
    • Construction Learning Videos
    • Learning Videos
    • Upcoming webinars and virtual events
  • Skill2Jobs
    • Employability Skills
    • Apprenticeships & Internships
    • Jobs
    • Projects
  • About us
  • Success Stories

Copyright © 2021 National Skills Network - NSN