The introduction of the Goods and Services Tax regime will not lead to a rise in boarding and lodging costs for parents of under-Class X students staying in hostels. The Centre on Thursday issued a clarification on the issue after some reports claimed that 18 per cent GST will be levied on the annual fees charged by schools/hostels for lodging. The Finance Ministry also similarly rubbished reports that services provided by Resident Welfare Associations will cost more due to the GST. The Centre said that RWAs that are registered as non-profit entities will be GST exempt. ALSO READ | Selling your old gold chain or car won't attract GST, Arun Jaitley clarifiesALSO READ | GST: A tax reform so huge that confusion was inevitableALSO WATCH | Exposed: Tax thieves out to sabotage GST

Source: India Today July 14, 2017 01:18 UTC