GST applicable on Sinking Fund collecting by Residential Society from Members

In re Olety Landmark Apartment Owner’s Association (GST AAR Karnataka) Whether the Applicant is liable to pay GST on amounts which it collects from its members for setting up the ‘Sinking Fund’/Corpus Fund? The amounts collected by the applicant towards Sinking Fund amount to advances meant for future supply of services to members, covered under SAC 9995 as “Services of Membership Association” and are taxable to GST @ 18% in terms of Sl.No.33 of Notification No.11/2017-Central Tax (Rate) dated 28/06/2017 as amended, as the time of supply is receipt of the advance ...