Discover the Igst Invoice Format for Higher Education to Simplify Your Processes

Igst invoice format for Higher Education

schools and colleges impart education and hence there should be no gst applicable right but does the government have the same viewpoint what about other educational institutions what about coaching centers what about school books well that's what today's video is all about in this video i will decode the applicability of gst on educational institutions in india hello and welcome i'm anuparna from clear from the makers of clear tax it is india's largest tax and financial services platform clear serves more than 3 000 large enterprises and more than 4 lakh growing businesses if you would like to get clear explanations of updates relating to gst invoicing e-weapons and much more then please do subscribe to our channel under gst an educational institution is defined as an institution providing some services by the way of preschool education and education up to higher secondary school or equivalent then education as a part of curriculum for obtaining qualification recognized by any law for the time being in force and education as a part of an approved vocational education course under the gst law the following services provided by an educational institution to its students faculty and staff or to an educational institution are not liable to tax or gst buy an educational institution to its students faculty and staff buy an educational institution by way of conduct of entrance examination against consideration in the form of entrance fees to an educational institution by way of transportation of students faculty and staff catering including any midday meal schemes sponsored by the central government state government or union territory security or cleaning or housekeeping services performed in such educational institution services relating to admission to or conduct of examination by such institution then supply of online educational journals or periodicals however it should be noted that any service provided to an educational institution other than an institution providing services by way of preschool education and education up to higher secondary school or equivalent will be treated as a taxable service other than services relating to admission to or conduct of examination also note that the supply of online educational journals or periodicals provided to an educational institution other than an institution providing services by way of pre-school education and education up to higher secondary school or equivalent or education as a part of an approved vocational education course will be treated as a taxable service so what about services provided by coaching centers tuitions and private tutorials well services provided by coaching centers tuitions and private tutorials do not fall under the approved vocational education courses approved by government under law hence they are liable to a tax at the rate of 18 percent gst apart from the general exemption available to all educational institutions charitable activities of entities registered under section 12a of the income tax act are also exempt hence if charitable trusts are running schools colleges or any other educational institutions or performing activities relating to advancement of educational programs specifically for abandoned orphans than homeless children physically or mentally abused persons prisoners or persons of age 65 years or above residing in rural area same would be exempt under gst services by way of training or coaching in recreational activities relating to arts or culture sports by the charitable entities registered under section 12a of the income tax act or exempted from gst government or local authority or governmental authority carrying on activity of education up to primary and secondary level is also exempt from gst for example the government schools or municipal schools any services provided by the national skill development corporation set up by the government of india a sector skill council approved by the national skill development corporation an assessment agency approved by the sector skill council or the national skill development corporation a training partner approved by the national skill development corporation or the sector skill council in relation to the national skill development program implemented by the national skill development corporation or a vocational skill development course under the national skill certification and monetary rewards scheme or any other scheme that's been implemented by the national skill development corporation exemption has also been granted to the following services provided by the indian institute of management or iims excluding any executive development programs a two-year full-time residential pg programs in management post-graduate diploma in management admission which is granted via cat that is cat fellow programs in management and five-year integrated programs and management studies services provided by training providers that is project implementation agencies under the deen upadhyay grameen kaushalia yojana implemented by the ministry of rural development government of india by way of offering skill or vocational training courses as certified by the national council for vocational training services provided to the central government state government union territory administration under any training program for which 75 percent or more of total expenditure is borne by the central government state government or union territory administration where an education institution is providing only education as a service and such fees are not taxable under gst then such educational institutions are not required to be registered under gst but whether education institutions are also providing other supplies or services that attract gst such as the sale of notebooks or uniforms renting of its premises etc then in such cases such institutions are liable to get themselves registered under the gst law i hope you found this video useful so far if you did then please type yes yes in the comment section of this video we will next move on to the applicability of gst on higher educational institutions coaching centers and more but meanwhile if you have any doubts please type in your queries in the comments section of this video we'll be happy to answer them for you while services provided by an educational institution are not liable to gst the same is not the case with services provided to an educational institution in the case of higher educational institutions the gst exemption on procurements that is the input services as mentioned earlier such as transportation catering or housekeeping services is available only to schools from preschool up to higher secondary school or its equivalent so in case of higher educational institution they will have to bear gst levy this will have to be born by the higher educational institution what about training programs summer camps yoga programs and other events will gst be applicable in this case also yes such training programs summer camps and events would be considered commercial activity and hence liable to gst will gst apply to book stationery and uniforms distributed to students the supply of printed books is exempt under gst however uniform stationary notebooks and other non-academic related supplies will be taxable under gst besides supplies provided by any third party such as musical instruments computers sports equipment then after school activities offered directly by any third parties will also be taxable under gst these days it is quite common for students to take coaching classes from private coaching centers in addition to their school classes so is gst applicable on the services provided by private coaching centers well since private institutions and coaching centers do not have any specific curriculum and do not conduct any examination or award any qualification gst will be applicable on the services provided by private coaching centers the rate of gst is 18 percent what about in case of distance education distance education is taken up generally for higher education and hence taxable at the rate of 18 percent gst note that the private tutors and coaching centers must file gst returns just like any other taxpayers in gstr1 and gstr-3b either monthly or quarterly depending on their turnover and whether or not they opt into the qrmp scheme if they have opted into the composition scheme for service providers then they must pay tax in cmp-08 and file gstr 4 once in a year are you confused about the gst returns to file do you find gst reconciliations every month to be time consuming and error prone well it's time for you to check out the clear gst software or solution it is india's most trusted gst software and offers users so many exclusive features that are sure hassle-free reconciliation and hundred percent accurate gst return filing with clear tax gst you can connect with hundreds of erps and import data error free file all returns from jstr1 to gstr9c and many more made at least three times faster match over 6000 invoices in less than a minute and detect 100 tax credits with ai powered matching get two to seven percent tax savings with smart reconciliation reports get multiple validations done at every step reviewed by over 60 tax experts and a variety of smart analytic reports available on tap if you would like to get a demo of clear gst filing software then please click on the link given in the video description and enter your contact details one of our product experts will schedule a demo at your convenience we have now come to the end of this video i hope you found this video useful and if you did then please do subscribe to our channel and support us also please don't forget to click on the link given in the video description to explore clear gst filing solution now for a quick and every gst return filing thank you you