The Authority may issue guidance notes or circulars to resolve difficulties in applying or interpreting regulations governing International Branch Campuses and Offshore Education Centres. On an application accompanied by the prescribed non-refundable processing fee, it may relax strict enforcement of any provision, with reasons recorded in writing.

International Branch Campuses and Offshore Education Centres must comply with all obligations applicable to their Parent Entity in its home jurisdiction concerning offshore courses or programmes. The Parent Entity may repatriate any profit without restriction. These requirements apply respectively to an IBC or OEC operating under the framework for international branch campuses and offshore education centres.

The Authority may require International Branch Campuses and Offshore Education Centres to furnish a deposit based on the scale of their operations and in such form as it considers appropriate. Entities undertaking permissible activities must pay an application fee, a one-time initial registration fee, and an annual fee from the second year onwards. Applications seeking relaxation are also subject to a separate processing fee.

SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI NARENDER KUMAR CHOUDHRY (JUDICIAL MEMBER) For the Assessee : Mr. Vijay Mehta For the Revenue : Mr. Ram Prakash Rastogi ORDER PER OM PRAKASH KANT, AM This appeal by the Revenue is directed against order dated 22.12.2022 passed by the Ld. Commissioner of Income-tax (Appeals)-53, Mumbai [in short 'the Ld. CIT(A)'] for assessment year 2016-17, raising following grounds: 1. On the facts and circumstances of the case and... ... ...

International Branch Campuses and Offshore Education Centres must retain records and documents specified by the Authority and maintain books of account in the foreign currency declared in the application. Their annual reports must disclose admissions, programmes conducted, fees collected, repatriations to the parent entity, investments, and degrees, diplomas or certificates awarded.

Currency for conduct of business requires every transaction undertaken by an International Branch Campus or Offshore Education Centre to be conducted exclusively in freely convertible foreign currency. Administrative expenses may be paid in Indian rupees where a separate Special Non-Resident Rupee Account is maintained for that purpose.

International Branch Campuses and Offshore Education Centres require prior written approval before wholly or partly discontinuing, suspending or closing approved courses or programmes in permissible subject areas. If a course or programme is disrupted or discontinued, the Parent Entity must provide affected students with an alternative, including reallocation to a course or programme conducted by it.

Inspection powers enable examination of an International Branch Campus or Offshore Education Centre at any time to assess infrastructure, quality and suitability, including after in-principle approval and before registration. One or more persons may be appointed as an Inspecting Authority, which may obtain assistance from appropriate persons or professionals. Each institution must provide full cooperation to the Inspecting Authority and authorised persons.

Default under the framework governing International Branch Campuses and Offshore Education Centres may result in enforcement action by the Authority, including suspension or cancellation of registration and imposition of penalty for regulatory violations.

International Branch Campuses and Offshore Education Centres must maintain institutional alignment with the Applicant through similar naming, documented arrangements, comparable student and faculty selection processes, and compliant grievance-redressal policies. Deviations from selection processes require prior approval supported by adequate justification. Operations must follow the Applicant's mission, vision and objectives, undergo specified quality-assurance audits at registration renewal, use factual and non-misleading marketing communications, and adhere to the applicable dispute-resolution policy.

Non-permissible activities prohibit an International Branch Campus or Offshore Education Centre from functioning as the Parent Entity's representative office. They may not undertake promotional activities for the Parent Entity's programmes in the home jurisdiction or any other jurisdiction outside GIFT IFSC.

Programmes conducted in GIFT IFSC must be identical to corresponding programmes offered by the Parent Entity in its home jurisdiction, with the same qualifications conferred directly and in the same manner. Curriculum or content changes require prior academic approval where they differ from the home-jurisdiction course and must be preceded by intimation to the Authority. Qualifications issued for such programmes retain the same recognition and status as equivalent home-jurisdiction qualifications.

Registration applications are appraised by an expert committee before in-principle approval may be granted for establishing infrastructure and engaging manpower. Time may be extended on a timely application, with limited extension by the Chairperson and further extension requiring Board approval. A registration certificate may be issued with conditions once requirements are met. Registration is renewable for successive terms, while cancellation or refusal of renewal requires recorded reasons, due procedure, and an opportunity to be heard.

Registration applications for an International Branch Campus or Offshore Education Centre must include governing-body approval, operational details, and funds sufficient for at least five years. Applicants must provide alternative arrangements for students if courses or programmes are discontinued, undertake that qualifications issued in GIFT IFSC will be recognised and treated as equivalent in the parent entity's home jurisdiction, and furnish a current quality-assurance audit report from a recognised home-jurisdiction agency.

Foreign universities must hold a position within the Top 500 in the latest QS World Universities global overall ranking and/or subject ranking, while foreign educational institutions must be reputed in their home jurisdictions. All applicants must demonstrate financial capability to establish and sustain proposed activities in GIFT IFSC and undertake to provide suitable infrastructure and facilities for courses and research programmes in permissible subject areas.

Permissible subject areas for courses and research programmes in GIFT IFSC include Financial Management, FinTech, Science, Technology, Engineering and Mathematics. International Branch Campuses and Offshore Education Centres may operate within these specified academic domains.

Pending drawback claims arising from unvalidated PFMS bank accounts require exporters and customs brokers to identify affected IECs and shipping bills. Exporters must request online registration or modification of AD code and bank account details and upload a passbook copy or bank authorisation letter through e-Sanchit. PFMS approval and acceptance status may be monitored through a dashboard for prompt rectification of deficiencies.

An IBC is a registered branch campus of a Foreign University, established on a stand-alone basis or another permitted form, to deliver home-jurisdiction-accredited courses and research programmes. An OEC correspondingly is a registered branch of a Foreign Educational Institution other than a Foreign University. The Parent Entity or Applicant is the overseas institution proposing to establish and operate the relevant IBC or OEC.

Registration under the framework applies to an International Branch Campus of a Foreign University and, respectively, an Offshore Educational Centre of a Foreign Educational Institution seeking registration. Applicability is confined to those specified campus and centre arrangements.

International Branch Campuses and Offshore Education Centres in GIFT IFSC are enabled through a registration framework for foreign universities and other foreign educational institutions. The framework supports accredited education, research and executive education in permissible subject areas, promotes financial services and technology-related disciplines, and seeks to safeguard students' interests. Offerings must be accredited in the institution's home jurisdiction and recognised for delivery in GIFT IFSC.