R&D grants for universities and institutions to be exempt from GST: Uttarakhand FM
Uttarakhand Finance Minister Premchand Aggarwal has said that research and development (R&D) grants for universities and institutions will now be exempt from goods and services tax (GST).
The decision was taken at the 54th GST Council meeting held on Monday, September 9, chaired by Finance Minister Nirmala Sitharaman.
As many as seven educational institutions and universities across India received GST show-cause notices from the Directorate General of GST Intelligence (DGGI) in August, demanding unpaid taxes amounting to Rs.220 crore.
According to CNBC-TV18's sources, the institutions included IIT Delhi, Punjab University, Sree Chitra Tirunal Institute for Medical Sciences and Technology, the Centre for Sponsored Research and Consultancy (Anna University), Shanmugha Arts, Science, Technology & Research Academy, Amrita Vishwa Vidyapeetham, and Kalasalingam Academy of Research and Education.
