VAT news

No GST Exemption to Mahindra Splendour CHS If monthly Contribution exceeds Rs. 7,500 per month

The Maharashtra Authority of Advance Ruling (AAR) held that no GST Exemption to Mahindra Splendour CHS if monthly contribution exceeds Rs. 7,500 per month. The applicant, M/s Mahindra Splendour Co-operative Housing Society Ltd, the Applicant is a housing society whose main objects include: managing, maintaining and administering its property; raising funds for achieving the said objects etc.. by way of collecting contributions/charges from members of the society, like Property taxes, Maintenance charges, Water and electricity charges. Sinking and Building repair Fund, Club House charges, Interest on delayed payment, etc.

Source Taxscan