In a regressive move the Finance Minister, Mr. Arun Jaitley, has announced an increase in Service Tax to 14%. It will increase the price of many essential services including electricity, telephone and others. It will also affect the education sector.
Most professional training programs have a component of service tax. Current rate of service tax is 12.36%, which will go up to 14%. Service Tax is payable by the service recipient and the students will need to pay a higher amount.
Ivory advises the students enrolling for the programs in 2015 to make upfront payment to save on both service tax and the difference in downpayment and installment option.