GST attracts 18% on Apartment Maintenance Charges
- By Admin
- 24 Jul
Now owners will have to pay 18 percent GST on Apartment Maintenance Charges if charges exceeds 7500/- per month per member i.e In case any member have acquired two or more Flats in the complex.
Further, GST Department have clarified the fact that GST will be charged on full amount.
For example If Maintenance Charges are 10000/- per month then GST will not be charged over an above 7500. It will be charged on 10000/- i.e 1800/-
Earlier the exemption was provided if charges did not exceeds 5000/- which was increased to 7500/- w.e.f 25th January, 2018
GST Department have further clarfied that if Resident welfare society have not crossed the limit of 20lacs then there is no need to charge GST.