Gst on housing society latest advance ruling
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. WebSep 6, 2024 · From April 1, 2024, on housing projects that do not fall in the affordable housing category, GST is levied at 5% without input tax credit (ITC). For ongoing projects the builder has the option to pay GST at the old rate of 12% with ITC, which means taxes paid on inputs can be set off.
Gst on housing society latest advance ruling
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WebAug 10, 2024 · GST at 18% is applicable on repair and maintenance funds and sinking funds collected by residents’ welfare association ( RWA) or Housing Society if the total … WebJul 19, 2024 · The Authority for Advance Rulings ( AAR ), Maharashtra bench, recently held that GST is chargeable against maintenance charges collected by a cooperative …
WebNov 2, 2024 · According to circular number 109/28/2024-GST dated 22 July 2024 RWAs are entitled to take ITC on GST paid by them on capital goods (generators, water pumps, lawn furniture etc.), goods taps, pipes, other sanitary and hardware fittings etc.) and input services such as repair and maintenance services. WebApr 8, 2024 · The Gujarat Authority for Advance Ruling (hereinafter referred to as “GAAR”) vide its Advance Ruling No. GUJ/GAAR/R/51/2024 dated 06.09.2024., gave the following ruling to the above question. “1. The subject supply for the purpose of security, cleaning and housekeeping services provided to the cited schools are exempt from GST. 2.
WebNov 17, 2024 · GST Appellate Authority for Advance Rulings (AAAR), Maharashtra bench rules that activities of societies or clubs constitute ‘supply’ and is liable for GST. …
WebApr 7, 2024 · For flat owners paying more than Rs 7,500, the GST on maintenance charges will be 18%. If a flat owner's monthly contribution to the residents' welfare association (RWA) exceeds Rs 7,500, the Finance Ministry announced on July 22, 2024, that they would be subject to 18% GST.
WebSep 17, 2024 · FULL TEXT OF ORDER OF AUTHORITY OF ADVANCE RULING, KARNATAKA. ORDER ... 2024 KGST Act 2024 read with Rule 104 of CGST Rules, … local printer share 709 errorWebApr 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. indian footwear sizing systemWebGST on Housing Society – July 2024 Update. Housing society are non profit oriented organization, which works for its members. Housing, under GST, it is important that said … indian forceWebApr 10, 2024 · From April 1, 2024, the revised GST rate for construction services has been 5% without input tax credit for housing projects that do not fall in the affordable housing segment. For ongoing projects, though, builders can … indian footwear onlineWebJul 19, 2024 · Mumbai. Recently the Authority for Advance Rulings (AAR), Maharashtra bench, has held that Goods and Services Tax (GST) is chargeable against the … indian footwear mojari mens onlineWebMar 15, 2024 · Employee health check-ups shouldn't face any GST: AAAR The AAAR modified an earlier ruling by the Gujarat Authority for Advance Ruling (AAR) that had said 18% GST would be applicable on such health services. 06 Jun, 2024, 12:17 AM IST School canteen, bus services not under GST purview: AAR indianforce.nic.inWeb1 day ago · The Goods and Services Tax (GST) are set to issue show cause notices to insurance companies, banks, lenders ..etc. According to the reports 29 insurance companies, 5 Non-Banking Financial Companies (NBFCs) and more than 100 vendors were included by the authorities. indian for aubergine