Finance Ministry will do its best in reducing the 18% GST levied on private security industry: MoSF
New Delhi, Aug 4 (KNN) The finance ministry will examine the private security industry's demand to cut GST rate from 18 per cent at present, said Minister of State for Finance, Shiv Pratap Shukla.
Speaking at FICCI's Private Security Industry (PSI) Conclave-2018 on the theme, 'Job Creation & Skill Development', he said that the government was fully conscious of the significant contribution of the private security industry in creating jobs for the poor, those that have migrated from the villages, and ex-servicemen.
"We have received a FICCI representation on the issue and will do whatever is possible to reduce the 18% GST levied on the industry," Shukla added.
On the occasion, Shukla released a FICCI-BDO report on 'Private Security Industry: Job Creation and Skill Development'.
The report dwells on skill development and jobs creation in PSI, policy issues concerning the sector, GST and its impact, shift from unorganized to the organized sector and integration of manpower and technology.