Establishing colleges for running medical courses.
This query is : Resolved
Chandrasekhar TVS
(Querist)
21 November 2019
Usually, it has been the procedure to start educational institutions like Medical colleges in the form of societies, trusts or sec 25 companies (1956 Act ) . But my query is whether a Pvt ltd company can be established for running a Medical college which will be a tax paying company and whether MCI will permit that. If so, are there any such institutions in the country now running such colleges. This apart, what are the guidelines under GST Act on this?
Please enlighten me on these aspects and also the repercussions.
Please enlighten me on these aspects and also the repercussions.
CA R SEETHARAMAN
(Expert)
21 November 2019
MCI will permit such one. No GST applicable on such approved educational institutions. Only difference is income tax exemption not available.
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