support@headlinenews360.com
Flat Maintenance GST: A big news is coming out for the people living in the flat. If you pay more than 7500 rupees every month for the maintenance of Housing Society, now you will have to spend more on it. This is because the government is going to put 18 percent GST on the maintenance of the Housing Society.
Government made this big change in housing rules
According to a report by The New Indian Express, the government has changed the housing rules. Under this, if the expenses of more than Rs 7500 in the maintenance of apartments every month and more than Rs 20 lakh in a year, then 18 percent GST will have to be given on it.
However, if a person has two or more flats in a housing society and he gives a maintenance of Rs 7,500-7,500 every month, then he will not have to pay any GST according to every flat. They have to give GST on the entire amount. In its 25th meeting in January 2018, the GST Council increased the exemption limit to Rs 5000 to Rs 7500 per month to benefit RWA and housing societies.
How to check your apartment status
Suppose you have to spend Rs 9,000 on maintenance every month and the annual turnover of the entire society is more than Rs 20 lakh, so now you will be charged an additional Rs 1,620 as GST, so that you will have to pay Rs 10,620 a month instead of 9000. However, this rule of 18 percent GST will not apply to all flats. In such a situation, to check the status of your apartment, you can go to the local commercial tax office and check the status of your society by paying Rs 500.
Also read:
(Tagstotranslate) Apartments (T) GST (T) Flat Maintenance GST (T) Flat (T) GST (T) Apartment (T) Business News
Source link
