GST Chargeable by Builders on Maintenance of Buildings! #realestatewithmayank #shots #mayankagarwal

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GST Chargeable by Builders on Maintenance of Buildings! #realestatewithmayank #shots #mayankagarwal

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Maintenance is counted as a service and hence the GST payable is 18%. A builder has to charge GST at 18% on the maintenance component of the apartment.
For eg: if your monthly maintenance is ₹10,000 per month, then your total maintenance including the GST component is going to ₹11,800.

⭐️ Do not confuse this GST amount with the GST that’s charged by the builder against purchase of the under construction apartment.

In July 2020, the Central Board of Indirect Taxes and Customs (CBIC) had said a cooperative housing society will also have to levy and collect GST (at 18%) on the total amount collected as maintenance charges, if it exceeds Rs 7,500 per month.

Also, Societies with an annual turnover of less than Rs 20 lakh ( or Rs.10 lakh, as applicable depending on the different States) will not have to register under GST, and hence no GST will be implemented, even if the maintenance is above Rs 7,500 per month!

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RYD date created : 2023-10-20T17:05:39.186882Z
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