The Union Finance Minister Nirmala Sitharaman chaired the 55th meeting of the GST Council today (21st December 2024) at Jaisalmer, Rajasthan. The Union Finance Minister announced that training partners affiliated with the Skill Training Council will be exempted from Goods and Services Tax (GST) during the press conference.
The National Skill Development Corporation (NSDC) stands at the forefront of India’s mission to empower its youth through world-class skill development. Established on July 31, 2008, as a not-for-profit public limited company under Section 25 of the Companies Act, 1956 (now Section 8 of the Companies Act, 2013), NSDC has been instrumental in shaping the country’s skill ecosystem.
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Operating under the Ministry of Skill Development & Entrepreneurship (MSDE), NSDC represents a unique Public Private Partnership (PPP) model, where 49% of its share capital is held by the government and 51% by the private sector.
NSDC’s vision aligns closely with India’s aspirations to build a globally competitive workforce. As the strategic implementation and knowledge partner for the Skill India Mission, NSDC focuses on breaking down financial and systemic barriers to vocational training. Its initiatives aim to create opportunities in emerging fields and equip the nation’s youth with futuristic skills.
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The exemption move is seen as a step toward promoting affordable skill development initiatives in the country. The exemption is expected to lower the operational costs for training institutions, thereby encouraging more individuals to participate in vocational training programs.
The meeting was attended by Union Minister of State for Finance, Shri Pankaj Chaudhary, Ajay Seth ( Revenue Secretary) along with Chief Ministers from Goa, Haryana, Jammu and Kashmir, Meghalaya, and Odisha, and Deputy Chief Ministers from Arunachal Pradesh, Bihar, Madhya Pradesh, and Telangana.
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The meeting also discussed other matters. The GST Council approved a GST exemption for payment aggregators handling transactions below Rs. 2,000. However, states rejected the inclusion of Aviation Turbine Fuel (ATF) under GST, viewing it as part of the crude and petroleum basket.
The proposal to tax food delivery services by electronic commerce operators (ECOs) at 5% as a composite service was deferred for further analysis by the fitment committee. Discussions on health insurance premium GST are pending inputs from IRDAI. Contrary to expectations, online gaming GST was not discussed during this meeting.
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