School Fees is exempt from Goods and Services Tax in India under SAC code 999210.
School Fees is classified under SAC code 999210 for GST purposes. The Services Accounting Code (SAC) is used to classify services under GST. This code must be mentioned on GST invoices when billing for school fees.
Education services by institutions from pre-school to higher secondary are fully exempt from GST. This exemption has been in place since July 2017.
Since school fees is exempt from GST, input tax credit is not available on exempt supplies. Businesses dealing exclusively in exempt goods/services cannot claim ITC on their inputs.
More in Education:
School Fees is exempt from GST in India (0% rate). No GST is charged on the supply of school fees.
The SAC code for School Fees is 999210. SAC (Services Accounting Code) is used to classify services under GST. This code should be mentioned on all GST invoices.
Since school fees is exempt from GST, no GST needs to be calculated. The selling price is the final price with no additional tax.
No, input tax credit is not available on exempt supplies like school fees. Businesses dealing in exempt goods cannot claim ITC on related inputs.
Education services by institutions from pre-school to higher secondary are fully exempt from GST. This exemption has been in place since July 2017.