Peanut candy to attract only 5% GST, not 18%

LUCKNOW: Within two days of the deputy chief minister Dinesh Sharma's advise, Lucknow University has decided to introduce a six-month certificate course on the Goods and Services Tax (GST), implemented by the Central government from July 1. The admission forms for the course will be available from first week of August.

The four credit course will run in the faculty of commerce. Of the four credits, two are for skill development and training and another two for theory, read a press statement issued from LU. It stated further that the university will also organise two seminars on GST, in which key speakers will be tax officers, chartered accountants and consultants.

The seminar—likely to be held in third or fourth week of July—will be open to all, from faculty members and students to traders and businessmen.

  

Hailed as the biggest tax reform since Independence, GST aims at providing a uniform and simplified way of indirect taxation in India. This means goods and services will be subject to a uniform tax rate. GST is applicable throughout the country, replacing a number of other indirect taxes like VAT, Service tax, CST, etc.

Looking at the huge impact of GST on citizens, the university has decided to create awareness on the subject. It is eventually public that is affected by the implementation of any new tax and the common man has to understand and get ready for the implications, not only the final consumer but all small traders and service providers too, said the release.

The idea behind starting a course on GST is to produce experts as also to educate common people about it through seminars. "Looking at the sudden need for experts on GST, the university expects the candidates doing the certificate course may get immediate employment opportunity or start their own consultancy service," said university professor and spokesperson N K Pandey.

Source::: The Times of India, dated 09/07/2017.