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Applicability of entry 66 of exemption on ICAI
Is ICAI or ICMA or ICSI or any similar institutions in line with it is covered under purview of definition of educational institution given under entry 66?
Replies (7)
Quick Summary
Yes they are covered under the definition for services to students
But Sir, i have doubt that these all institutes are providing certified courses i.e CA,CS,CMA are certified courses and not degree qualifications
The word given is qualification. And these qualifications are recognised by law.
Yes they are covered since they are recongnised by Law like ICAI is a statutory body established under an Act of Parliament i.e. CHARTERED ACCOUNTANTS Act of 1949.
Agreed ,But on a further note to be "a qualification recognized by law in India for time being in force" it should be i.e ICAI and other similar bodies should be approved under University Grants Comission..
Not necessarily. There is a separate act for all these institutions.
If ICAI branches are qualified as educational institute then will the services provided by a teacher to institute liable for GST.
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