GST demand of Rs 120 crore from IIT Delhi over govt research fund raises concerns
4 months, 1 week ago

GST demand of Rs 120 crore from IIT Delhi over govt research fund raises concerns

Op India  

On Friday, 16th August, the Indian Institute of Technology-Delhi was issued a show-cause notice from the Directorate General of Goods and Services Tax Intelligence, seeking ₹120 crore GST on research funds acquired by the institute between 2017 and 2022, along with interest and penalties. According to the reports, other educational institutions in India, including famous IITs, central universities, and state-run and private universities, have also recently received similar notices from the GST officials. While talking to TOI, he said, “Imposing GST on research grants to universities is a major setback for the progress of Indian higher education institutions. Viewing educational institutions as sources of tax revenue will only increase the cost of education.” Earlier on Wednesday, 14th August, there was a clash between the Union and Tamil Nadu governments when the Chennai zonal unit of the Directorate General of GST Intelligence ordered that Anna University pay Rs 5.4 crore in GST on research funding received between 2017 and 2022.

Education Research Notice Fund Iit Gst Research Funding  iit  govt  demand  fund  delhi  education  notice  notices  institute  funding  rs  universities  gst  crore  received  raises  institutions  research

History of this topic

Research funds totally exempt from GST, notices sent to private institutions like IIT, Anna, Punjab University no longer to be sought
3 months, 1 week ago

Research funds totally exempt from GST, notices sent to private institutions like IIT, Anna, Punjab University no longer to be sought

Op India  

Following the GST Council’s decision to exempt central and state-governed higher education institutions from settling GST on their research funding, notices issued to some prominent institutions, including IIT-Delhi, Anna University, and Punjab University, concerning their outstanding GST pays will no longer be sought out. “The recent exemption of GST on research grants in educational institutions has been broadly welcomed within …

GST on research grants : AAP’s Atishi says the GST Council has decided to exempt research grants from the GST net
3 months, 1 week ago

GST on research grants : AAP’s Atishi says the GST Council has decided to exempt research grants from the GST net

The Hindu  

Delhi Finance Minister Atishi on Monday said the GST Council has decided to exempt research grants from the GST net, and called it a victory for the entire nation. Addressing a digital press conference, Atishi said last month, six educational institutions, including IIT-Delhi and Punjab University were sent showcause notices over research grants. It is good news that the GST …

AAP calls GST on research grants 'tax terrorism', demands withdrawal
3 months, 2 weeks ago

AAP calls GST on research grants 'tax terrorism', demands withdrawal

India Today  

The Aam Aadmi Party slammed the BJP-led central government on Saturday over the imposition of Goods and Services Tax on research grants, describing the move as "tax terrorism". For the first time in history, a government is imposing a tax on grants received by research institutes, AAP general secretary Sandeep Pathak said at a press conference. The Modi government has …

IIT Bombay gets ₹700 crore funds for research and development
3 months, 2 weeks ago

IIT Bombay gets ₹700 crore funds for research and development

Hindustan Times  

Mumbai: The Indian Institute of Technology Bombay has reported a substantial increase in research and development funding, with an almost 39.44% rise compared to 2021. IIT Bombay The press statement issued by IIT Bombay stated that the significant boost in funding comes as part of IIT Bombay’s dedicated efforts to align its R&D objectives with India’s broader goal of achieving …

IIT Delhi faces ₹120 crore GST show-cause notice over research grants: Report
4 months, 1 week ago

IIT Delhi faces ₹120 crore GST show-cause notice over research grants: Report

Hindustan Times  

The Indian Institute of Technology Delhi has reportedly been issued a show-cause notice by the directorate general of Goods and Services Tax Intelligence, demanding ₹120 crore in tax on research grants received between 2017 and 2022, along with interest and penalties. Government officials have said that various educational institutions throughout India such as leading IITs, central universities and both state-run …

Average monthly GST mop-up at ₹1.66 lakh crore so far this fiscal: Finance Minister Nirmala Sitharaman
1 year ago

Average monthly GST mop-up at ₹1.66 lakh crore so far this fiscal: Finance Minister Nirmala Sitharaman

The Hindu  

The Goods and Services Tax collection has been showing an upward trend on an annual basis since its roll-out on July 1, 2017, and the average gross monthly mop-up in the current fiscal so far is ₹1.66 lakh crore, Finance Minister Nirmala Sitharaman said on December 4. The average gross monthly GST collection in FY 2023-24 now stands at ₹1.66 …

GST revenue collection for April 2023 reaches an all-time high at Rs 1.87 lakh crore
1 year, 7 months ago

GST revenue collection for April 2023 reaches an all-time high at Rs 1.87 lakh crore

Op India  

In a vindication of the efforts taken by the Modi-led government to revive the Indian economy following the Covid-19 pandemic, the Ministry of Finance released the GST collection report on Monday and stated that the revenue collection for April 2023 was the highest ever at Rs 1.87 lakh crore. “Gross GST collection in April 2023 is all time high, Rs …

GST mop-up rises 13 pc to Rs 1.60 lakh cr in March, second highest collection ever
1 year, 8 months ago

GST mop-up rises 13 pc to Rs 1.60 lakh cr in March, second highest collection ever

Deccan Chronicle  

New Delhi: GST collection grew 13 per cent in March to Rs 1.60 lakh crore Â- the second highest mop-up since the rollout of the indirect tax regime. The total gross collection for full 2022-23 fiscal stands at Rs 18.10 lakh crore, 22 per cent higher than the previous year. It is for the fourth time in the just gone …

High govt revenue: What it means for Budget 2023
1 year, 10 months ago

High govt revenue: What it means for Budget 2023

Live Mint  

New Delhi: As it prepares to present the 2023-24 budget, the Centre finds itself blessed with a good revenue position. For each of the three years till 2020-21, growth in overall GST collections lagged nominal GDP growth. The three major tax heads of the Centre—income tax, corporation tax, and central GST, which account for about 80% of its gross tax …

IIT Delhi Placement Drive 2022-23: Highest International Offer Rs 2.4 Cr on 1st Day
2 years ago

IIT Delhi Placement Drive 2022-23: Highest International Offer Rs 2.4 Cr on 1st Day

News 18  

Students from the Institute of Indian Technology, Delhi have received over 1,300 job offers in the first phase of placements this year. Most students have opted for jobs in their technical core.” She said that IT and Analytics are core to some departments like Computer Science, Mathematics, and Computing, adding that “many companies registering under the ‘Finance’ track are recruiting …

IIT Delhi opens its ‘Central Research Facility’ for researchers from across country
3 years, 2 months ago

IIT Delhi opens its ‘Central Research Facility’ for researchers from across country

India TV News  

The Indian Institute of Technology launched a new platform on Tuesday where anyone from across India can create a user account, log in to the Central Research Facility, and book an instrument online for their research work. As a result, all facilities of the CRF on the Institute’s main campus in New Delhi as well as in the Sonipat campus …

GST collections cross Rs 1-L cr mark in July
3 years, 4 months ago

GST collections cross Rs 1-L cr mark in July

Deccan Chronicle  

New Delhi: With more relaxation in Covid restrictions, the gross goods and services tax revenue collected in July has again crossed the Rs 1-lakh mark to Rs 1,16,393 crore, up by 33 per cent as compared to the same month last year. As per the ministry data, out of the gross GST collection of Rs 1,16,393 crore, the CGST is …

The GST's uncertain future
4 years, 2 months ago

The GST's uncertain future

India Today  

The true test of leadership comes in times of adversity—the ability to develop consensus when the going gets tough. On November 27, 2019 the GST council wrote to state governments, informing them that GST and compensation cess collections in the previous few months had become ‘a matter of concern’ and that compensation requirements were ‘unlikely to be met’. The GST …

Centre to Release Rs 20,000 Cr to States as GST Compensation, Cess to Be Levied Beyond 2022
4 years, 2 months ago

Centre to Release Rs 20,000 Cr to States as GST Compensation, Cess to Be Levied Beyond 2022

News 18  

The Centre on Monday said it will tonight release Rs 20,000 crore to states on account of GST compensation dues. Briefing reporters after the meeting of the 42nd GST Council here, Finance Minister Nirmala Sitharaman said the states which received less apportionment of Integrated GST for 2017-18, the Centre will next week transfer a cumulative Rs 24,000 crore to them. …

Why the GST framework is in trouble
4 years, 3 months ago

Why the GST framework is in trouble

Hindustan Times  

The switch to the Goods and Services Tax in July 2017 was a historic moment in India’s fiscal trajectory. The Union has not paid the constitutionally mandated ₹1.5 lakh crore of GST compensation to states for the months of April-July in the current fiscal year. It also expects that the total shortfall in GST compensation to the states will be …

Discover Related