Sector overview
Educational institutions, including schools, universities, and vocational training centers, operate under unique tax regulations. Key considerations include claiming GST exemptions on core educational services and managing tax planning for non-profit societies. We assist educational societies and universities in managing compliance, auditing financial records, and structuring auxiliary services to manage tax liabilities.
Common challenges
- Navigating GST rules on core educational services vs auxiliary services (canteen, transport).
- Auditing financial records for universities with multiple campus locations.
- Ensuring that tuition fees collected are applied to educational purposes.
- Maintaining proper accounting for student scholarships and endowments.
How we support this industry
- Statutory audits for schools, colleges, and university boards.
- GST audit and classification advisory for auxiliary educational services.
- Internal audits of fee collections, payroll, and asset management.
- Support with renewals of tax exemptions under Section 10(23C).
