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Council to discuss GST on RWA maintenance charges
The New Indian Express
|September 09, 2024
IN a significant development for residents and Resident Welfare Associations (RWAs) across the country, the GST Council in its 54th meeting on September 9, is expected to deliberate on increasing the threshold limit for the Goods and Services Tax (GST) applicable on maintenance charges.
According to sources, the threshold limit may be increased to 9,000-10,000 per month. Currently, maintenance charges paid by residents to RWAs are exempt from GST up to 7,500 per month per member. However, should the monthly charge exceed this limit, GST is levied on the entire amount, provided the aggregate turnover of the RWA reaches lakh or more. Also, the GST applicability on the transfer of development rights within the joint development agreements (JDAS) in the real estate will likely be discussed. A JDA is a legal contract that facilitates collaboration between landowners and developers to un20 dertake construction projects on the landowner's property
Esta historia es de la edición September 09, 2024 de The New Indian Express.
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