MONETA VOL 21 MONETA VOL 21 | Page 25

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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