MAINTENANCE CHARGES OF THE SOCIETIES COULD BE ACCOUNTED AND AUDITED UNDER FINANCIAL ACT OF THE GST IF TURN OVER MORE THAN 20 LAKH

NO GST WILL APPLY TO THE HOUSING SOCIETIES WITH AN ANNUAL TURNOVER  LESS THAN 20 LAKH:--The major cities in the country depending upon the housing societies like Maharashtra state government has given advance ruling that GST is chargeable against the maintenance charges collected by a cooperative housing society from its members if it exceeds Rs 7500 per month however the small scale housing societies with an annual turnover less than 20 LAKH do not have to comply with the register with the GST obligations as there includes no facilities like security services, cleaning, repairs or the ancillary services like accounting and auditing by a CHS to its members and the members are not distinct entities. In contended principles no GST could be levied upon the small scale housing societies as the members are rembursing the costs .The financial Act has yet no amendments however the AAR pointed out that the amendment had received the assent of the president and the contentious issue of principles of mutuality in the case of cooperative societies have been settled.