GST Registration for Flat owners society
This query is : Resolved
07 October 2024
If a Flat Owners Society collect more than 20.00 lac during a year against society maintenance charges, whether society will be liable to be registered under GST ? If yes, what rate of gst will be applicable sir ?
07 October 2024
Yes, in case of any maintenance from one house collected above Rs 7500.
Currently, maintenance charges paid by residents to RWAs are exempt from GST up to R7,500 per month per member. However, should the monthly charge exceed this limit, GST is levied on the entire amount, provided the aggregate turnover of the RWA reaches R20 lakh or more.
Currently, maintenance charges paid by residents to RWAs are exempt from GST up to R7,500 per month per member. However, should the monthly charge exceed this limit, GST is levied on the entire amount, provided the aggregate turnover of the RWA reaches R20 lakh or more.
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