GST on Hou Sco.

Q: Housing Societies and the current indirect tax structure
Currently, the housing societies are covered under the provision of Service Tax Act.

Mr. Prabhat Jain, Apartment Resident

3rd October 2017

Legal in Kharadi, Pune

gst

gst on housing society

service tax implication on co-operative society

maharashtra housing society is covered under gst

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Replies (5)

Impact of changes post GST council meeting dated 06 Oct 2017
1 Quarterly Return filling if Society is turnover or annual receipts are less than 15 crore than SocietyRWA is require to file quarterly returns instead of monthly return
2 No RCM on purchases There wont be any RCM on input Purchases Section 94 CGST And 54 IGST from unregistered dealers so no more GST liability on RCM till March 2018
3 No Requirement to pay GST at the time of receipt of advances if taxpayer having annual turnover below 15 crore
All these amendments will provide relief to the small tax payers and the CHSRWA in following the GST compliance requirement

Mr. Prabhat Jain, Apartment Resident

21st November 2017

Comment

Hi Folks,
I would like to know why is Maharashtra Housing Societies covered under GST?Can anybody provide me the details on it?

Manisbapu, Mumbai

5th October 2017

Comment

Hi Manis,
GST is applicable to the dealer-person who is rendering service or supplying goods in the regular course of business activity. ‘Person’ has been defined under 2(84) as follows: a) an individual; (b) a Hindu Undivided Family; (c) a company; (d) a firm; (e) a Limited Liability Partnership; (f) an association of persons or a body of individuals, whether incorporated or not, in India or outside India; (g) any corporation established by or under any Central Act, State Act or Provincial Act or a Government company as defined in clause (45) of section 2 of the Companies Act, 2013; (h) any corporate incorporated by or under the laws of a country outside India; (i) a co-operative society registered under any law relating to co-operative societies; j) a local authority; (k) Central Government or a State Government; (l) society as defined under the Societies Registration Act, 1860; (m) trust; and (n) every artificial juridical person, not falling within any of the above.

Devika, Mumbai

5th October 2017

As per this provision, every housing society having receipt above the threshold i.e 20 lakh rupees or 10 lakh rupees as specified shall be required to get registered under the GST. Turnover includes the exempted supplies. For example, if a housing society collects the maintenance fees from its member above 20 lakh rupees in a year ( or 10 Lakh rupees as specified) will require to get registered irrespective of the fact the fee is less than five thousand rupees per month per member.

Mr. Prabhat Jain, Apartment Resident

3rd October 2017

Comment

Registration under the GST

every supplier ,including his agent, who makes a taxable supply ie supply of goods and or services which are leviable to tax under GST law, and his aggregate turnover in a financial year exceeds the threshold limit of twenty lakh rupees shall be liable to register himself in the State or the Union territory of Delhi or Puducherry from where he makes the taxable supply

In case of eleven special category states ,as mentioned in Art279A,4,,g, of the Constitution of India,, this threshold limit for registration liability is ten lakh rupees

Aggregate turnover shall include the aggregate value of all taxable supplies, exempt supplies and exports of goods and or services and exclude taxes viz GST

Mr. Prabhat Jain, Apartment Resident

3rd October 2017

Comment

Housing Societies and the current indirect tax structure
Currently, the housing societies are covered under the provision of Service Tax Act. All Apartment Owners Associations Housing Societies where the taxable Income i.e. total receipts less exempted amounts during last year exceed Rs 12 lacs are required to be registered under Service Tax and pay the same.

The service tax is exempted up to an amount of five thousand rupees per month per member for sourcing of goods or services from a third person for the common use of its members in a housing society or a residential complex

Service Tax is applicable to the Commercial Association or Units, no exemption is applicable. The Exemption is applicable for Residential Units or housing societies only.

Mr. Prabhat Jain, Apartment Resident

3rd October 2017

Comment