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of <h1>Retrospective Tax Exemption for IIM Educational Services Under Section 118: Refunds Available for Services Between 2003-2016</h1> Section 118 of the Finance (No. 2) Act, 2019, provides a retrospective exemption from service tax for certain services offered by Indian Institutes of Management (IIMs) to students. This exemption applies to services provided between July 1, 2003, and March 31, 2016, for specific educational programs, excluding the Executive Development Programme. These programs include full-time Post Graduate Programmes, fellow programmes, and integrated management programmes. Refunds for service tax collected during this period can be claimed within six months from the enactment date. The provisions of the Finance Act, 1994, apply retrospectively for processing these refunds.
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