Calls for Reduced Tax Rate to Boost Employment Services Sector

Monday, 15 July 2024, 05:25

The GST Council is under pressure to lower the tax rate for employment services to 5%, aiming to stimulate growth in the sector. Additionally, the Ministry proposes the inclusion of skilling programs in the Income Tax Act's Section 10(23C) to enhance workforce development. These changes could lead to a potential boost in job creation and skill-building initiatives across the country.
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Calls for Reduced Tax Rate to Boost Employment Services Sector

Lower Tax Rate Proposal and Implications

The GST Council is facing demands to decrease the tax rate for employment services to 5%.

Enhancing Workforce Development

The Ministry suggests incorporating skilling programs into the Income Tax Act's Section 10(23C) for better workforce development.

Potential Impact on Job Creation

These proposed changes may foster job creation and skill-building initiatives nationwide.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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