WebFeb 4, 2024 · In order for housing societies to charge GST on their maintenance costs, they must comply with the following requirements, as per a circular released by the Finance Ministry on July 22nd, 2024. ... GST is applicable if the total yearly maintenance cost turnover exceeds Rs. 20 Lacs. A housing society is required to pay 18% GST if its per … WebJun 15, 2024 · An Authority for Advance Ruling ruling has said that any voluntary payment made to a housing society by a member or a resident should attract Goods and …
Income Tax Amendments Applicable For A.Y. 2024-24 …
WebApr 13, 2024 · So, can a service provided by a Housing Society to its members be treated as service provided by one person to another. The answer is yes. The following extracts … WebMay 2, 2024 · In this article, we discuss the GST implication on Housing Societies and Residential Welfare Associations. Site. Courses. Login Register. Professional Courses. GST ... (and the same is on account of services for common use of its members), will GST be applicable on Rs. 9,000/- or Rs. 1,500/- which is in excess of Rs. 7500/-. In such cases ... lutherville plastic surgery
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WebDec 9, 2024 · Criteria for applicable GST payment. If the society’s monthly maintenance bill is more than ₹7500 per house, 18% GST is applicable on the entire amount. If a person owns more than one residence in a society, then a ‘separate’ ceiling of ₹7500 is … WebAug 10, 2024 · No.77 provides for the following exemption to housing societies, “a society may be registered under GST, however if the monthly contribution received from members is less than Rs. 7500/- (and the amount is for the purpose of sourcing of goods and services from a third person for the common use of its members), no GST is to be charged by the ... WebJan 7, 2024 · Flat owners are liable to pay 18% GST on residential property, if they pay at least Rs 7,500 as maintenance charge to their housing society. Housing societies or residents’ welfare associations ... lutherville pharmacy hours