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AAR ruled that corpus/sinking fund collection by a Resident Welfare Association constitutes a taxable supply under GST. The key findings are: (1) amounts collected from members for maintenance and building work are considered advance payments towards future services, (2) such collections are subject to CGST and SGST, (3) input tax credit can be utilized with restrictions under Rule 42, and (4) monthly subscriptions under Rs. 7,500 per member remain GST-exempt. The housing society must register under GST if turnover exceeds 20 Lakhs and comply with applicable tax regulations when collecting funds for maintenance and capital improvements.
AAR ruled that corpus/sinking fund collection by a Resident Welfare Association constitutes a taxable supply under GST. The key findings are: (1) amounts collected from members for maintenance and building work are considered advance payments towards future services, (2) such collections are subject to CGST and SGST, (3) input tax credit can be utilized with restrictions under Rule 42, and (4) monthly subscriptions under Rs. 7,500 per member remain GST-exempt. The housing society must register under GST if turnover exceeds 20 Lakhs and comply with applicable tax regulations when collecting funds for maintenance and capital improvements.
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