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After GST, service tax on ATM transactions goes up

07 July 2017, 01:01 | Gina Pena

Your Rs 100 ATM withdrawal to cost Rs 3 more due to 18 per cent GST

Survey says TS and AP have highest awareness on GST

The Congress on Thursday disassociated from the Goods and Service Tax (GST) rolled out from July 1, as its former finance minister P Chidambaram dubbed it a "mockery of GST" and trashed the government's claim of its roll-out after the broadest possible consultation.

Students in universities and colleges will now get lessons in the Goods and Services Tax (GST).

Also, the body has endorsed this to the university's executive council.

Through this move, the commerce students will be taught about the newly introduced tax reform.

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The survey of over 3.6 lakh participants across the country reveals that more than half of India's population is unacquainted with the new tax regime. He further doubted the infrastructure in place to smoothly process the tax returns of the massive number of businesses which switched to GSTN this month.

Vice chancellors of universities in the state will take a call on how they will include GST in the syllabus, deputy chief minister Dinesh Sharma said while briefing the media about the conference. Going by the status quo, it is important that students understand the tax well.

Asked about the perception that the GST will push up GDP growth by at least 2%, he said, "GDP is not dependent on one factor". In a meeting concluded last week, the academic council accepted the recommendations made by the faculty of commerce and business.

The curriculum is likely to include the concepts of the constitutional framework of indirect taxes before GST, which include taxation powers of union and state governments, VAT, rationale and structure of GST, GST council, GST network, state compensation mechanism and registration, etc. Revenue generated from GST will be generated in a manner that will benefit India.

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