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IIMB has been granted an exemption from goods and service tax (GST) for its long durations programs, which is significant relief from the student's point of view. PGP (Post Graduate Program), FPM (Fellow Programme in Management), PGPPM (Post Graduate Programme in Public Policy), EPGP(Executive PGP) & PGPEM (Post Graduate Programme in Enterprise Management) are the courses exempted from the GST at Indian Institute of Management Bangalore.
IIM Bangalore will now receive a refund of Rs 4.03 crore in taxes it paid in the 2018-19 year The institute has started refunding the students who have graduated in the three-year programme in March 2019. According to the IIMB spokesperson so far the institute has refunded Rs 3.93 crore to the 235 students. For example, the GST on the EPGP tuition fee was 18% of Rs 19.6 lakh or Rs 3.5 lakh.
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After the implementation of IIM Act, 2017. The top-ranked institute has applied to AAR (Authority for Advance Ruling) seeking clarification of tax liability of PGPPM, EPGP, and PGPEM. IIM-B again appealed to the authority and sent a request to the GST Council to consider their case after AAR did not give a positive ruling. It is when the council finally exempted the tax from all the programmes.
Indian Institute of Management Director, G Raghuram said that with this one extra item in the fees has been removed. However, he did not say anything about the overall fee structure. According to him, fees depend upon various factors.
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