Service Tax : We have raised our objections to  Service Tax  being charged from students, with the Commissioner, Central Excise. Our claim for refund of it which we paid in 2004 - 05 is now with the Tribunal in Mumbai. In spite of these if it is made / become applicable, the beneficiaries - the students will have to pay the tax @12.24%. We are not collecting it from students now as the matter is under dispute. Therefore you must be ready to pay as and when demand is raised consequent to our being forced to remit / dispute goes contrary to our view / stand / objection.

The Alumni fund is not for day to day operations of the institute. It is exclusively for expenses related to alumni meets, updation, communication, relationship building and maintenance of its secretariate and allied activities / aspects which together cannot exceed 40% of the collection. 60% will form part of the endowment corpus for establishing "Alumni Chair" and meeting other institutional commitments.  The fines if any collected will also be credited to this endowment fund.