Delhi Minister Atishi Opposes GST on Research Grants, GST Council Exempts Educational Institutions
The GST Council has decided that universities and research centers established by law or with income tax exemptions will not have to pay GST on research funds. Delhi Minister Atishi opposed taxing research grants, highlighting that no other country imposes such a tax. The GST Council, which includes the Union Finance Minister and state representatives, aims to simplify the tax system. This decision follows show-cause notices issued to institutions like Punjab University and IIT Delhi for not paying GST on research grants from 2017 to 2024.
Doubts Revealed
GST -: GST stands for Goods and Services Tax. It is a tax that people pay when they buy goods or services in India.
Research Grants -: Research grants are funds given to universities or research centers to help them conduct studies and experiments.
GST Council -: The GST Council is a group of people, including the Union Finance Minister and representatives from all Indian states, who decide how GST should be applied.
Delhi Minister Atishi -: Atishi is a politician from Delhi who works on education and other important issues in the city.
Educational Institutions -: These are places like schools, colleges, and universities where people go to learn.
Union Finance Minister -: The Union Finance Minister is the person in charge of managing the money and finances of the entire country of India.
Income Tax Exemptions -: This means that certain organizations do not have to pay income tax, usually because they are doing something beneficial for society, like education or research.
Show-cause notices -: These are official letters asking someone to explain why they did or did not do something, in this case, why they did not pay GST.
Punjab University -: Punjab University is a well-known university in the state of Punjab, India.
IIT Delhi -: IIT Delhi is one of the top engineering colleges in India, located in New Delhi.
