GST impact: XIM-B may hike fees for next academic session

The premier B-school is expected to make the budget estimates soon

Xavier Institute of Management - Bhubaneswar (XIM-B), a premier B-school, may go for hike in fees from the 2018-19 session as a possible impact of the newly introduced indirect tax regime - Goods and Services Tax(GST).

"The impact of GST may be on the fees of students, not this year, from next year (2018-19) depending on how much contract renewals will cost. There are multiple service providers and the cost of their charges is most likely to go up after GST", said father Paul Fernandes, director, XIM-B.

"Certainly from 2018-19 academic year, it will have an impact. Contract renewals are the areas where the major impact probably will come. There might be some percentage of hike in fees", he added.

In the admission bulletin for 2017, XIMB has announced course fee of Rs 15,40, 000 each for its flagship prgrammes, MBA in Business Management and MBA- Human Resource Management (HRM). For MBA in Rural Management (RM), it was fixed the course fee at Rs 11 00 000. While the full time business management program has 360 seats there are 120 seats each for HRM and RM courses.

"We had announced the fee structure for 2017-18 in September 2016 and we are not going to change it for the current session", said the director.

For 2018-19, the premier institute is expected to make the budget estimates soon in view the obligation of new tax compliances.

"We do not know whether the announcement we make in September can be actually done this time. We may make it in November this year. The indications of what the companies will charge under the new tax regime will come atleast in a month", added the director.

The landmark GST, one of the sweeping taxation reforms since independence, was rolled out at midnight on July 1 in a special midnight session in the central Hall of Parliament.