When the aggregate turnover of a Cooperative Societies in a financial year exceeds twenty lakh rupees, such Cooperative Societies become liable for Registration under GST as per Sec 22 (1) of CGST Act. That means the collection of maintenance charges by society exceeds Rs 20 Lakhs per annum then the Society need to be registered under GST.
Housing Society is liable to register, if total of all the receipts (including exempted receipts) exceeds Rs. 20 Lakh in a financial year wwhich generally includes society maintenance charges from its members, receipts from investments, income receipts from advertisement board, receipts from mobile towers in premises, share transfer fee from members, receipts from special purpose use of common area by member (marriage function ) etc.
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. Our Team of GST Experts in Udaipur Rajasthan India Provide GST Consultancy to Cooperative society