Issue No: 21 Moneta July 2017
Annum then the Society need to be |
Registered. |
� |
A person who is registered or liable |
to |
be |
registered becomes |
a“ Taxable |
Person” as |
per Sec |
2( 107) of CGST Act. |
� |
As |
per Sec |
9. |
( 1) |
0f |
CGST |
Act GST is Levied & Collected and |
shall be payable by the Taxable |
Person. |
Thus |
Co-operative |
Housing |
Society |
or Residential |
Welfare |
Association |
who’ s |
Turnover |
( collection money) crosses Rs. 20 |
Lakhs per Annum become liable |
for Registration under GST and |
should |
charge |
GST |
( CGST |
+ |
SGST) from its members. |
Applicability of Tax Rate:
As per Notification No. 11 / 2017- Central Tax( Rate), for services related to Services furnished by business, employers and professional organizations Services, Services furnished by trade unions & Services furnished by other membership organizations falling under SAC 9995 the Central Tax Rate is 9 %. Similar Provisions are made under SGST Acts also. Therefore there will a levy of 18 %( CGST @ 9 % + SGST @ 9 %).
Relaxation under GST
Exemption Notification No. 12 / 2017- Central Tax( Rate), 28th June, 2017
Entry No: 77 – Heading 9995
Service by an unincorporated body or a non- profit entity registered under any law for the time being in force, to its own
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