Receipt below 20 lacs and monthly bill is below 5000, even then Reverse charge is payable by CHS Soc.? Accounting c

Q: No sir, if the income is below the threshold limit not required to register and Reverse charge will also not applicable in this case.

Mr. Prabhat Jain, Apartment Resident

5th October 2017

Legal in Pune

cooperative housing societies

gst on housing society

chs

why maharashtra housing society cover under gst?

reverse charges

composition scheme

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Replies (5)

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

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

Mr. Prabhat Jain, Apartment Resident

21st November 2017

Comment

Hi friends,
I think you have to update your reply as there are few changes made in it. The housing societies being service provider and not dealing in goods cannot opt for composition scheme as the composition scheme is not meant for service providers except restaurants. Further, the ceiling for composition scheme is raised to 75 lakhs. Also, it is not known as to common electricity bills which is being reimbursed to the society concern by the members is to be taxed under GST as the same is reimbursed on actual basis and role of the society is that of a pure agent.

Ramesk Polekar, Mumbai

27th October 2017

Comment

But at the same time, exemption are available on the basis of turnover. If the aggregate receipt of turnover of society is less than Rs.20 lakh, it will not be liable for registration and tax collection.

If the aggregate receipt of turnover of society is more than Rs20 lakh but less than Rs50 lakh and does not desire to claim any tax credit on its expenses paid GST, it can go for Composition Scheme under Section 10.

And If the aggregate receipt of turnover of society is more than Rs.50 Lakh, it will be fully covered like any other business entity.

Shrabani Deodhar, Pune

27th October 2017

Comment

Hello Prabhat,
It has been defined under section 2(98) that the Reverse charge means the liability to pay tax by the recipient of supply of goods or services or both instead of the supplier of such goods or services or both under sub-section (3) or sub-section (4) of section 9, or under sub-section (3) or subsection (4) of section 5 of the Integrated Goods and Services Tax Act.

Rajiv Bajaj, Pune

27th October 2017

Comment

Yes, and under the following cases the Recipient must pay the required GST- a) Any transaction notified by the Government, as on date nothing has been notified but likely it may be for a) Transport payment b) Lawyer Professional Fees c) Security Payment d) Payment where people are providing labor, etc. b) Obtaining goods or services from unregistered dealer.

Upendra Limaye, Pune

27th October 2017