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Applicability of entry 66 of exemption on ICAI

01 May 2020

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?

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7 Replies

CA Altamush Zafar (GST Consultant) (15971 Points)
Replied 01 May 2020

Yes they are covered under the definition for services to students

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Jaimin Thakkar (33 Points)
Replied 01 May 2020

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

CA Altamush Zafar (GST Consultant) (15971 Points)
Replied 01 May 2020

The word given is qualification. And these qualifications are recognised by law.

Shivam RC (Student) (23683 Points)
Replied 01 May 2020

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.

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Jaimin Thakkar (33 Points)
Replied 02 May 2020

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..