GST Exemption for Universities, Research Centers: FM Sitharaman

By A Staff Reporter

Delhi: Following the GST Council meeting, Union Finance Minister Nirmala Sitharaman addressed the media with an important announcement regarding tax exemptions for universities and research institutions. According to Sitharaman, universities and research centers established by either central or state government laws, as well as those that have secured income tax exemptions, will no longer be required to pay Goods and Services Tax (GST) on research funds.

"Universities and research centers established by a law of the central or state governments, or those with income tax exemption status, can receive research funding from both government and private sources without being subject to GST," Sitharaman explained.

This move is expected to ease the financial burden on educational and research institutions, allowing them to channel more resources into their research efforts. The decision aims to promote academic and scientific research across the country by removing the GST obligations on crucial funding sources.