Last Updated Aug - 17 - 2024, 05:04 PM | Source : Education Times | Visitors : 36
IIT Delhi has received a GST notice demanding ₹120 crore for research funds from 2017-2022. Similar notices have been sent to other institutions. This move coul
A notice to show cause has been sent by the Directorate General of Goods and Services Tax (GST) Intelligence to the Indian Institute of Technology Delhi (IIT-D). According to a Times of India story, the notice requests Rs 120 crore in GST from the renowned institute for research funds obtained between 2017 and 2022, along with interest and penalties.
The notice gives IIT-D 30 days to explain why the sum and any related penalties should not be collected. Several other educational establishments, including central universities, IlTs, and state-run and private universities, have also received similar notifications from GST authorities, according to the report.
The head of a private deemed university was reported as saying that implementing GST on research funds to universities is a ‘major setback’ for the growth of Indian higher education institutions and that the finance ministry has failed to notice that a significant amount of the money is being utilized to buy consumables and assets that are already covered by GST.
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