GST is applicable on Repair and Maintenance Fund and Sinking Fund. If the total value of Charges exceed the limit of Rs. 7500/- per member per month, then the total value of the amount in said bill would be held as taxable to levy GST thereon and GST would be applicable @ 18%.
Authority for Advance Ruling – GST on Repair and Maintenance Fund – The applicant is an unincorporated body and a non-profit entity registered under THE MAHARASHTRA CO-OPERATIVE SOCIETIES ACT, 1960. It collects Maintenance charges from its members on a quarterly basis for providing services and goods for the common use of its members. The applicant sought an Advance Ruling regarding applicability of GST on Repair and maintenance fund and sinking fund; whether or not exemption Limit of Rs. 7500/- per member is applicable on above two components of maintenance bill by the housing co-operative Society to members of society.
Held that:- The Hon’ble Authority for Advance Ruling held that GST is applicable on Repair and Maintenance Fund and Sinking Fund. If the gross amounts collected by the applicant in their bills/invoices exceeds Rs. 7500/- then exemption limit of 7500/-is not applicable on two components of maintenance bills.
GST is applicable on Repair and Maintenance Fund and Sinking Fund. If the total value of Charges exceed the limit of Rs. 7500/- per member per month, then the total value of the amount in said bill would be held as taxable to levy GST thereon and GST would be applicable @ 18%.
Authority for Advance Ruling – GST on Repair and Maintenance Fund – The applicant is an unincorporated body and a non-profit entity registered under THE MAHARASHTRA CO-OPERATIVE SOCIETIES ACT, 1960. It collects Maintenance charges from its members on a quarterly basis for providing services and goods for the common use of its members. The applicant sought an Advance Ruling regarding applicability of GST on Repair and maintenance fund and sinking fund; whether or not exemption Limit of Rs. 7500/- per member is applicable on above two components of maintenance bill by the housing co-operative Society to members of society.
Held that:- The Hon’ble Authority for Advance Ruling held that GST is applicable on Repair and Maintenance Fund and Sinking Fund. If the gross amounts collected by the applicant in their bills/invoices exceeds Rs. 7500/- then exemption limit of 7500/-is not applicable on two components of maintenance bills.