APPLICABILITY OF GST
In the present law, GOODS AND SERVICE TAX ACT, 2017, there is no scope for any Profitability unlike in income tax there is benefit for non-profit organisation. In GST whether an organisation makes profit or not is not relevant.
REGISTRATION UNDER GST
Limit for registration is Rs. 20,00,000 for services. Limit for registration increased to Rs.40 lakhs for Goods w e 01/04/2019.For Housing Societies’ the following table suggests registration criteria.
| Case | Condition | Liable to take registration | |
| Aggregate Turnover | Monthly Contribution per member per month | ||
| I | Less than Rs. 20 lakhs | Less than Rs.7500 | NO |
| II | Less than Rs. 20 lakhs | More than Rs.7500 | NO |
| III | More than Rs. 20 lakhs | Less than Rs.7500 | YES |
| IV | More than Rs. 20 lakhs | More than Rs.7500 | YES |
Reverse charge mechanism (RCM) means GST payable by service receiver.Earlier RCM was payable on services received from unregistered dealer; Now it is suspended.
GST Applicability on Security Service from 01.01.2019 :
With effect from 01.01.2019 Any Registered Person receiving security services (Service provided by way of supply of security personnel) from any person other than a body corporate is required to pay GST on reverse charge basis.
Composition Scheme is a simple and easy scheme under GST for taxpayers. Small taxpayers can get rid of tedious GST formalities and pay GST at a fixed rate of turnover. This scheme can be opted by any For Other Service Providers subject to threshold limit of turnover in the preceding Financial Year Rs. 50 lakhs.GST is payable at 6% on turnover.
GST Audit is applicable for societies with turnover above Rs 2 crores.
| Taxable Heads | Exempted Heads |
| 1. Maintenance and Service Charges | 1. Property tax |
| 2. Parking Charges | 2. Electricity Supply from MCGM only |
| 3. Non-Occupancy Charges | 3. Water Supply from MCGM Only |
| 4. Sinking Fund | 4. Non-Agricultural Tax |
| 5. Repair Fund | |
| 6. Share Transfer | |
| 7. Tower or other Rent | |
| 8. Interest or Penalty |
Author Bio
Co-operative Society Ltd is collecting processing fee and service charges from customer. Is Co-operative Society is liable take GST from customer
Tell me the GST and Other Tax slab on multistate Agri. credit cooperative society
now what is the turnover limit for Society GST registration
20,00,000
I am a service provider to residential Society as Housekeeping, Securities, Lift AMC, Fire AMC so can i apply GST for providing Services?
What is the exempted limit for income other than interest earned of loans for GST registration for souharda credit co operatives of karnataka
HOW TO DO GST REGISTRATION OF A CO-OPERATIVE SOCIETY,HAVE TO CHOSE AS A TAXPAYER OR ANOTHER TYPE.
Is GST Applicable on PACS Services…?
IF SOCIETY CHARGES ARE BELOW Rs.7500/ OF A MEMBER BILL-(INCLUSIVE OF PARKING CHARGES AND NOC) WILL GST BE CHARGED ON NOC?
a society having commercial buildings getting rent above 20 lakhs p.a., there is any other income to it. it is expend money which is received from rents on many programmes. The society will get GST?
if membership fees exceed RS.7500. Suppose, Membership fees Rs.10000. On Which amount GST will be quantum 10000 or 2500.
23. (1) The following persons shall not be liable to registration, namely:––
(a) any person engaged exclusively in the business of supplying goods or
services or both that are not liable to tax or wholly exempt from tax under this Act or
under the Integrated Goods and Services Tax Act;
Then as per my understanding even if RWA crosses limit of Rs.20 lakhs it wont be required to obtain registration.
Interesting caption! What is there about Co-Operative societies in this article?
In the case of exempt income and taxable income is below 20 lakh, there is no requirement to take registration. Pls. give your views
Please comment on all societies not only the housing
Please do comment on Credit Operative Societies also
INSTANT
RAndom PIck : “GST Audit is applicable for societies with turnover above Rs 2 crores.”
That sounds a great escape, to know and breath soundly a sigh of relief, for time being. And, perhaps, looking at the astronomical number specified for the threshold, as is to be readily imagined, for good or bad, no ‘housing society’ , including howsoever the high end one that be, might escape the worrisome hardship/ clutches of ‘GST Audit’.
But the most fundamental and rudimentary proposition, omitted to even be made a mention of, – Inadvertently or otherwise by the Author, a CA, – is, – whether at all a ‘housing society’ is liable for being roped in , within the net of GST Levy. According to a so-believed well articulated view, founded on logical reasoning, the Answer may have to be better taken, at least for now, as an emphatic “NO”.
For MORE, if independently care to, and painstakingly look through, for an insightful study and incisive conclusion, helpful clues may be found in the related Aricles displayed on this Website , itself – HERE >
https://taxguru.in/author/vswami/
Sl. NOs. 4,5,and 6 are of direct relevance !
Kindly give your views on House Building Co-Op
Societies, who merely take land, convert to sites and
distribute among members.