Central Taxes Replaced by GST State taxes have been replaced by GST-

 Additional duties of excise  State VAT/Sales Tax

 Central Excise Duty  Central Sales Tax
 Excise duty levied under Medicinal &  Purchase Tax
Toiletries Preparation Act  Entertainment Tax (Other than those
 Additional duties of Excise levied under levied by local bodies)
Textiles & Textile Products  Luxury Tax
 Additional duties of Customs (CVD &  Entry Tax (All Forms)
SAD)  Taxes on lottery, betting & gambling
 Service Tax  Surcharges & Cesses
 Surcharges & Cesses  Taxes on advertisements
 Central Sales tax

Taxes Not Covered by GST

1. Property Tax & Stamp Duty
2. Electricity Duty
3. Excise Duty on Alcohol
4. Basic Custom Duty
5. Petroleum crude, Diesel, Petrol, ATF & Natural Gas

Sectors that are benefited:

1. GST's Impact on Retailers, Distributors, and Manufacturers
The Goods and Services Tax (GST) has improved India's retail, distribution, and
manufacturing sectors' performance and competitiveness. Exports are declining, and costs are
rising, to name a few concerns for this industry. Previously enacted indirect taxes boosted
distributors' and manufacturers' costs. The problems of the earlier indirect tax system have
evaporated, and this sector will flourish much better now that the Goods and Services Tax
system is in place.
2. The Agricultural Sector and the GST
The impact of the GST on agriculture, or the effect of the GST on agriculture, is favourable.
The agricultural industry contributes significantly to India's overall Gross Domestic Product.
It accounts for approximately 16 % of the Indian GDP.
The Goods and Services Tax (GST) has had an impact on various aspects of society.
Transportation of agricultural commodities across states in India is one of the major concerns
that the agricultural sector is looking into.
In terms of the Goods and Services Tax, transportation may be the most pressing issue for the
agriculture sector. The Goods and Services Tax (GST) could assist India in establishing its
first National Market for agricultural products.
3. GST's Impact on the Textile Industry
One of the GST benefit sectors has been readymade and textile garments, which have showed
a beneficial influence. They will benefit from the new system. The textile industry benefited
from GST in the following ways:
 The framework or chain of the Input Tax Credit, or ITC.
 On capital goods, an input tax credit, or ITC, is currently offered.
 In comparison to the previous tax scheme, the cost of transportation is now cheaper.
4. GST's Impact on the IT Industry
Despite the fact that the Goods and Services Tax rate for services has raised to 18 %, the
Information Technology Sector is one of the GST advantage industries when compared to the
previous system. Different elements, such as the availability of the Input Tax Credit, or ITC,
will reduce operational costs and, as a result, increase the overall productivity of the
Information Technology sector. The following are the primary areas where the GST will have
an impact on the IT industry:
 Administration of Tax Rates is Made Easier
 The Effects of Taxes Cascading (Double Taxation) are Removed
 Reorganization of the Business
 E-commerce
 Possibilities for GST software development
5. Impact of the Goods and Services Tax (GST) on Iron and Steel
On the production of iron and steel, three types of taxes were imposed. These were the duties:
The CST, or Central Sales Tax, is 2%.
VAT (Value Added Tax) is a 5% tax on goods and services.
Excise duty of 12.5 %
At old times iron and steel are subjected to a total of 19.5 % net tariff. The majority of
manufactured commodities fall into the 12 % and 18 % GST categories, with a few things
falling into the 28 % category. As can be seen, the iron and steel industry are one of the
industries that will benefit from the GST.
6. The Effects of the GST on Real Estate
This industry has had rapid expansion in recent years and is a large corporate sector. It's a
business that relies heavily on tax rates. The implementation of the Goods and Services Tax
on real estate has resulted in increased productivity and the emergence of a slew of new
brands. As a result, these brands have been able to significantly contribute to the nation's
economy. As a result, this is another industry that has benefited from GST.
7. The Education Sector's Impact on the GST
Whenever there is a discussion regarding a country's development and growth, the strength of
that country's education system is always brought up. One of the GST-advantaged industries
is education. People's education plays an important role in a country's strength.
As a result, the government has attempted to exclude educational institutions from the new
Goods and Services Tax system's responsibilities and levies. These services include those
provided by any educational institution to its employees, instructors, and students.
8. Impact of GST on Automobile Sector
Following Goods & Services Tax implementation, a wide range of taxes like Excise Duties,
VAT, Sales Tax, and Road Tax cleared a path for a unified Goods & Services Tax. This
brought an increase in automobile deals. Numerous huge automobile brands experienced
record growth in the year 2018 and 2019. Customers believed it to be the ideal chance to buy
vehicles. Thus, the automobile is another of the GST benefit sectors.
9. Telecommunications
In the telecom sector, prices will come down after GST. Manufacturers will save on costs
through efficient management of inventory and by consolidating their warehouses. Handset
ropping as the economy returns to normal. According to monthly time series statistics from
the Centre for Monitoring Indian Economy, India's overall unemployment rate was 8.10 % in
February 2022, but declined to 7.6 % in March.
Various Government Schemes for Unemployment in India
Pradhan Mantri Mudra Yojana (PMMY)
The Ministry of Labour and Employment started it in 2016-17. For the next three years from
the date of registration of the new employee, the government pays the entire employer's
contribution (12 % or as applicable) to the EPS and EPF for all sectors to all eligible new
employees.
Skill India Mission
It is being executed by the Ministry of Skill Development and Entrepreneurship with the goal
of providing skilling to one crore individuals across the country for four years through Short
Term Training (STT), Recognition of Prior Learning (RPL), and Special Projects (SP) at a
cost of Rs. 12,000 crores.
A short-term skill development training programme is provided to all prospective candidates,
including those from the BPL in the country, as part of the plan.
Pradhan Mantri Garib Kalyan Yojana (PMGKY)
Under the Employees Provident Fund (EPF), the government of India contributes 12 % of the
employer's share and 12 % of the employee's share, totalling 24 % of the wage for wage
months from March to August 2020 for organisations with up to 100 employees and 90 % of
those employees earning less than Rs. 15000/-.

PM SVANidhi
 This scheme was initiated by the Ministry of Housing and Urban Affairs.
 It focuses to provide affordable working capital loans to street vendors to resume their
livelihoods that were impacted during the Covid-19 lockdown.
 The vendors can avail of a working capital loan of up to Rs. 10,000, which is repayable in
monthly instalments in the tenure of one year.
Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA)
 It was initiated in the 10th five-year plan in 2005 and works under the Ministry of Rural
Development.
 It is a centrally sponsored scheme with the pattern 90:10.
 It provides a legal guarantee of at least 100 days of unskilled manual work in rural areas.
 Any member greater than 18 years of age of a rural household, willing to do unskilled
manual work can apply to the local Gram Panchayat (which will issue a Job Card).
National Career Service
 It was envisioned for transforming the National Employment Service to provide various
employment-related services such as job matching, career counselling, vocational
guidance, information on skill development courses, apprenticeships, internships, etc
through an online portal.
 National Career Service (NCS) focuses on a one-stop solution to provide various
services related to employment and career-related services to the citizens of India.
 This program is implemented by the Directorate General of Employment, Ministry of
Labour & Employment.
National Rural Livelihood Mission (NRLM)
 The scheme named Deendayal Antyodaya Yojana- NRLM (national rural livelihood
mission) was launched by the Ministry of rural development, govt.
 In India in June 2011 a restructured form of the Swarna Jayanti gram Saroja Yojna
(SGSY).
 This scheme is fully focused on promoting self-employment and the organization of the
people who live in rural areas.
 In this program, the main idea is to organize the poor into a self-help group.
 This scheme aims to create efficient and effective institutional platforms for the rural
poor, enabling them to make their livelihood and good standard of living.
 It aims to cover 7 crore low households, 600 districts, 6000 blocks, 2.5 lakh gram
panchayats, and 6 lakh villages across the country through self-help groups and helps
them for livelihood in a period of 8 to 10 years.
National Urban Livelihood Mission (NULM), 2013
 It is a scheme initiated by the Ministry of Housing and Urban Affairs.
 A Centrally Sponsored Swarna Jayanti Shahari Rozgar Yojana (SJSRY) since 1997 has
been restructured as DAY - National Urban Livelihoods Mission since 2013.
 It is for all cities with a population of more than 1 lakh or more.
 It was brought in to decrease poverty, gain self-employment and skilled wage
employment, and build strong grassroots level institutions.
 The mission would aim at providing shelter equipped with essential services to the urban
homeless
Unemployment affects FMCG, education, tourism etc sectors as most of the spending is done
by the youth and unemployment sucks the spending power of youth.
Youth Perspective:
Unemployment is one of the pain areas and prickly issues being faced by any economy.
Unemployment not just in uneducated but also has branched its roots in the educated sectors.
India being a young country constitutes a major chunk of its population be youth and to tap
their full potential we need to empower our youth with the right set of skills and
opportunities.
Many young people today recognise the significance of focusing on continuous business
growth, establishing the proper team, and empowering them to achieve that success. Because
metros and big towns are already saturated, entrepreneurs should focus on rural areas and tier
2-3 cities with superior products and services. According to industry analysts, any company
that improves the quality of life for children and teenagers will prosper. Start-ups have the
potential to develop and become large corporations. Continue to push yourself and set new
goals for yourself.
Entrepreneurship is our greatest weapon to counteract this issue and to empower our youth.
Youth by default are energized and empowered, they are willing to explore new territories
and take up new challenges and risks. While working as an entrepreneur, an individual gets to
work on multiple things, juggle different roles and turn them into better leaders and better
individuals. Put aside the fact that Entrepreneurship brings big money from investors and
even foreign clients, it also has a key role to play in building a character.
When battling unemployment, entrepreneurship is a solution, entrepreneurs open doors to
new ventures, new business, new alliances etc. When an investor puts money into a start-up
or a venture, the entrepreneur automatically gets to expand its team to scale the venture and
hence providing employment to more people.
These days entrepreneurs are willing to hire to even resources who do not have formal
education or a degree but have the right attitude, skillset and willingness to learn, which is a
big shift in the thought process in comparison to corporate or big companies who are adamant
on hiring from Ivy League colleges or shortlist candidates on the basis of qualifications not
capabilities.