Awaited by some, but not by many! The GST tax, which kicked off on July 1st 2017, has definitely caused ripples across the nation, some of which are positive, and others debatable. While some people would breathe a sigh of relief with the GST tax roll out, there are some who would be left in a state of doubt regarding their future and mode of sustenance.
One such ‘doubtful’ section of the society happens to be the one that consists of students and young scholars. If you have already gone through the GST tax list, you would be aware of the fact that there is a 12% GST charge on colouring books, exercise books and notebooks. Some of the educational institutions would be exempted from the GST tax, whereas the coaching institutions for competitive exams will face a major impact with an 18% GST.
While primary and high school education taxes are on the lower side, higher education programs are to be taxed heavily. Books and education go hand in hand, and it is one of the most important pillars that goes into shaping our society as a whole. Higher education and additional coaching is only to enhance one’s skills and equip them with greater expertise. The GST tax however would only discourage students and families to pursue academics in all its glory.
The question however that still remains to be answered with utmost accuracy is ‘How GST impacts the print industry’? We do have to wait for set guidelines and a solid stand of our state government before we come to a conclusion on whether GST affects us in a negative or positive way. We will only know how it affects the masters of print once it is put into practice over the next few months.
Needless to say, the print industry has definitely enjoyed a tax-free period for long, but since it has been brought under the GST regime, much like other sectors, the tide is likely to turn in the near future.
For better or for worse? That is something that is yet to be determined. In the meantime though, I better stock up on as many chocolates as I can, and go for as many ice-cream binges since those prices will soon not be in our ‘fla-vour‘.