Tax on Education? IIT-Delhi Gets Notice Demanding INR 120 Crore GST on Research Funds: Reports
The Indian Institute of Technology-Delhi (IIT-D) has been issued a show-cause notice by the Directorate General of GST Intelligence, demanding INR 120 crore in GST on research grants received between 2017 and 2022, including interest and penalties. IIT-Delhi has 30 days to respond.
The Indian Institute of Technology-Delhi (IIT-D) has been issued a show-cause notice by the Directorate General of GST Intelligence, demanding INR 120 crore in GST on research grants received between 2017 and 2022, including interest and penalties. IIT-D has 30 days to respond. The notice has sparked concern within the education sector, with a senior Ministry of Education official describing it as a "misinterpretation" and emphasising that GST should not apply to government-funded research. The ministry plans to contest the notice, arguing that research should be supported rather than taxed. Despite repeated attempts, IIT-D's administration has not commented on the issue. The official added, "It is regrettable that such notices are issued, potentially hindering academic research." GST on Medical Insurance: Nitin Gadkari Urges Finance Minister Nirmala Sitharaman To Scrap 18% GST on Life and Health Insurance Premiums.
IIT-Delhi Faces INR 120 Crore GST Demand on Research Funds
Believe it or not
The Government has sent a notice to IIT, Delhi demanding ₹120 crore in GST on research funding acquired between 2017 and 2022, as well as interest and penalties. 🫡 https://t.co/0w7LdlDHx3
— Snehesh Alex Philip (@sneheshphilip) August 16, 2024
(The above story first appeared on LatestLY on Aug 16, 2024 11:06 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
