Is there GST on maintenance charges?
Yes, maintenance charges paid by residents to the Resident Welfare Association are exempt up to Rs. 7,500. In case the amount charged exceeds Rs. 7,500 per month per member, GST is chargeable on the entire amount charged.12-Jan-2022
The builder charges 18%GST on monthly maintenance charges ,which is around Rs 4000/- per month. As per GST guidelines no GST up to Rs 7500/- pm on maintenance charges.
What is annual maintenance charge GST?
18 percent of GST is levied on the AMCs. The major supply of goods and service is only contingent for the maintenance contract.28-Dec-2021
Supreme Court Ruling on Society Maintenance Charges The maintenance charges should be paid by all purchasers of the units. Irrespective of their occupancy they must pay the amount. The maintenance charges for unsold flats must be borne by the developer till they are sold.03-Aug-2022
Can we claim ITC on office maintenance charges?
Services of general insurance, servicing, repair and maintenance. No ITC is allowed on services of general insurance, servicing, repair and maintenance in so far as they relate to motor vehicles, vessels or aircraft referred to in (1).21-Oct-2021
GST is paid by the buyers or consumers at the time of purchasing the product or availing of the service.
What is GST rate for apartments?
The rate of tax is 18% subject to a tax amount which is limited to 1% or 5% of the value of the apartment depending upon whether the TDR/FSI is used for an affordable residential apartment or other than an affordable residential apartment.10-Apr-2022
Further, when Income is calculated under the head House Property, then besides statutory deduction of 30% u/s 24, an assessee is entitled only for deduction with respect to taxes levied by any local authority.
Is GST TDS applicable on AMC charges?
Any payment made for any professional and technical services would attract TDS under section 194J of the Act and if the payments have been made for works contract or any contractual payment, the same would be covered within the purview of section 194C of the Act.26-May-2019
An annual maintenance contract is an agreement between a company and a provider that sets expectations for the ongoing maintenance of machinery or property that the company purchases from the provider.03-Feb-2021
How do you escape a maintenance case?
Builders cannot force residents to pay maintenance charges without OC: NCDRC. February 4, 2022: Builders cannot demand maintenance charges for housing projects where they have yet to receive an occupancy certificate, the National Consumer Disputes Redressal Commission has said.28-Jun-2022
How are maintenance charges calculated?
Your maintenance charges will depend on the total number of square feet in your apartment. For example, if the committee decides to levy Rs 2 per square feet and your apartment is 600 sq feet, you will pay Rs 1200. But if your apartment is 1200 square feet, you will pay Rs 2400.07-Apr-2022
Nope! You cannot take that GST credit. It Would be ineligible under section 17 sub Section 5. The relevant provisions says that input tax credit on good and services used for the construction of immovable property are not allowed.
On which items GST credit not available?
Some of the Goods and Service Which are Not Eligible for ITC
Ineligible ITC/ Blocked ITC Motor vehicles used for transportation of passengers having capacity of 13 or less than 13 persons (including the driver). Input Tax Credit under GST is also not available on purchase of aircraft and vessels. This includes not only purchase but also leasing, hiring or renting thereof.
Can I refuse to pay GST?
Conclusion: – On the basis of above case law, it can be concluded that, the Department cannot demand any kind of tax liability from the buyer of goods & services, for fault of the supplier, unless proper investigation and recovery proceeding initiated against the defaulting seller.16-Sept-2021
If the supplier fails or defaults in discharging the GST liability on the supply made by it, then the recipient of such supply is not allowed to avail the credit of such GST charged, even when the recipient has done everything as per the law and borne the tax cost.23-Oct-2021
Who can claim refund in GST?
Any taxpayer can claim a refund of any tax, interest, penalty, fees or any other amount paid by him by filing an application electronically in FORM GST RFD-01 through the GST Common Portal or through a GST Facilitation Centre.
Flat owners are liable to pay 18% GST on residential property, if they pay at least Rs 7,500 as maintenance charge to their housing society. Housing societies or residents' welfare associations (RWAs) that collect Rs 7,500 per month per flat, also have to pay 18% tax on the entire amount.02-Aug-2022
How do you calculate GST on a 2022 flat?
In India, buyers of under-construction flats, apartments, and bungalows pay 1% GST for affordable housing and 5% GST for non-affordable housing.Calculating GST on non-affordable property.
Is there GST on maintenance charges?