WebHaving deputies with enough backbone to approve GST, building up, and preventing anticompetitive practices in the construction sector instead of pandering to people who would rather have zero pension than pay 5% GST, who would rather pay £800k for a house than live in or near apartments, and are too complacent in failing to train their staff and … WebApr 11, 2024 · The housing society, in turn, reflected a net sum of Rs 15 lakh under the head 'major repair fund' in its accounts. The balance Rs 2.7 lakh was the GST component. In its 2024 ruling, the AAR also held that it appears there is compulsion for an outgoing member to make a gratuitous/voluntary payment.
Income Tax Rules for Co-operative Housing Societies MyGate
WebJan 8, 2024 · GST on society maintenance charges for maintenance paid by residents to the Resident Welfare Association* are exempt if the amount charged does not exceed … Webhousing societies are obliged to follow. (2) A society is deemed to be a separate person by the GST law. Similarly, a society registered under the Maharashtra Co-operative Societies Act is deemed to be a body corporate with separate legal personality as per Section 36 of the Maharashtra Co-operative Societies Act. niger maternal mortality rate
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WebAug 28, 2024 · GST for housing societies. A housing society has to get a GST Registration if its income exceeds Rs 20 lakh in revenues. But GST does not apply if the monthly member contribution is less than Rs 7500. Property taxes, electricity bills are not to be included in the Rs 7500 and are exempt from GST. WebThe GST Authority for Advance Ruling (GST-AAR), Maharashtra bench, has said that if monthly charges collected from the members of a housing society exceed Rs 7,500 a … WebGST on Redevelopment of Co-operative Housing Society. 1. GST on Supply of Transfer of Development Rights (TDS) /Floor Space Index (FSI) by the Society to a Developer. 2. GST on Supply of Residential units by the Developer to the Society in lieu of supply of TDR / FSI by the Society.(new flats provided against old flats) 3. niger local news