1. Registration :    

A Co-op Hsg Society is required to be registered under GST , if the Aggregate turnover exceeds Rs20 lakhs annually.Aggregate turnover shall include all taxable, and exempt services. Aggregate turnover means all billing other than Municipal Tax & Sinking Fund , but includes Interest received from banks, and members.

1. Exemptions :     

If the maintenance charges towards reimbursement of charges / contributions is less than Rs 5000/- per month  GST will not be charged to such members. However, such members will be charged GST on Vehicle parking charges, Non –occupancy charges , Facility booking, Share Transfer premium etc. which are not of the kind of contributions or reimbursement of charges.

If the maintenance charges towards reimbursement of charges / contributions exceeds Rs 5000/-  per month ,GST will be charged. [ provided the aggregate turnover is morethan Rs 20 Lakhs annually. ]

1. Reverse Charge: If the Society receives any supply of services from Advocates /   firm of advocates, the society has to pay the GST under Reverse    Charge.In case of a Society registered under GST, the GST shall be paid on Inward Supply of goods / services by an Unregistered Vendor  under Reverse charge.The liability to pay GST on reverse Charge basis on unregistered under arises only if the per day reciept of supply of goods or services or both exceeds Rs 5000 on any given day.

1. Taxation on Bills raised on members.

(i)                  Municipal Tax : is covered under Services provided by the Society to its members as an Agent of the Service Recipient and thus, outside the provisions of GST .  However, exact amount of Municipal Tax is required to be recovered from members as paid to BMC .

(iii)               Water Charges :   Water is procured by the Society from the Municipal Corporation and is supplied to the members. Water is a “goods” and attracts “zero “ rate of tax .

(iv)               All other charges, including electricity , repair fund ,sinking fund,   maintenance charges , service charges , vehicle parking charges, non – occupancy charges, any other recovery of expenditure, etc are taxable under the category “Services provided by other membership organizations n.e.c.” under SAC number “999599”

(v)                Interest/ penalty  on delayed payment of maintenance charges  is taxable under GST .

(vi)              Advance Received from members, if any, towards the maintenance charges, is taxable under GST, adjustable against GST payable on raising of monthly/ quarterly bill.

1. Taxation on other Income [ from members or non members ]

(i)                  Interest earned from banks is “Exempt” from GST .

(ii)                Rent received from any Hoarding / Cell phone tower etc, is taxable under the categories :-

                        997211 :  Rental or Leasing Services involving own or leased residential  property.

                        997212  :Rental or Leasing Services involving own or leased non- residential property .

(iii)          All  other incomes and receipts such as

                Facility booking charges

                Fit out charges

                Reimbursement of Expenditure

                Share Transfer premium

                Membership Entrance Fee / Share Transfer fee

                Exhibition in the Society premises  etc.

                Are taxable.

1. Security Deposits : All refundable security deposits are outside the provisions of GST .

1. Input Tax Credit :            

(i)                  All the GST paid on inward supply either for services or for goods , can be set off against liability to pay GST by the Society . However,

(ii)                In case of capital goods procurement, [ Fixed Assets ], the Input Tax Credit can be availed equally spread over sixty months.

(iii)          If the society is availing the benefit of Exemption, then  proportionate Input Tax Credit                 as is attributable to  exempted services will not be available for Input Tax Credit. 

1. Tax payments.

GST has to be paid on or before 20^th of Each month for the tax liability of the previous month. GST is to be paid after adjustment of Input Tax Credit available.

All GST has to paid electronically.  A challan can be downloaded from the GSTN(  This is the application of the Department to deal with all GST matters -  Returns, Refunds, Payments etc. ) and this challan can be paid at any approved Bank.

1. Returns.

Any Registered Society is required to file three Monthly returns and one Annual Return. If the  Aggregate turnover of the Society exceeds, then the Annual Report has to be submitted along with a Reconcilliation statement certified by a Chartered Accountant.

All the returns are time bound .

Return GSTR – 1. This return has to be filed on or before 10^th of Each month. In this return one will report the invoice details of all the registered recipients, and the summary of all the invoices raised to unregistered recipients. Also the return includes all tax liability arising out of Reverse Charge .

If there be any corrections in the invoices either through a Debit note / Credit note or omissions/ wrong reporting  in the previous returns etc,  the same have also to be reported under the relevant sub-returns.

There are certain other statistical informations to be furnished such as total amount of Zero rated supplies,  Exempted Supplies , Supplies outside the purview of GST , Sl no of invoices issues, invoices cancelled and net number of invoices issued. Etc.

While making the return, the Society will also state the GST liability.

GSTR – 2. This return has to be filed during the period 11^th to 15^th of each month for all the Input Services of the previous Month.  To the extent the Registered Suppliers of Goods or Services have provided the details in their GSTR -1 return, the data will be auto populated, and  the society has only to verify the same. Any corrections, omissions etc can be incorporated in this return.  

The INput credit on account of payment of GST under reverse charge needs to be mentioned in the return.

There are certain other information to be provided such total amount of Zero rated supplies,  Exempted Supplies , Supplies outside the purview of GST etc.

While filing the details of the invoices, the Society will also file the Input Tax credit available to it.

Matching :   This is an action to be undertaken by the Society between 16^th and 17^th .  Any corrections or additions made by the Registered Recipient through his GSTR -2 will be available for acceptance or corrections, or rejections by the Society. 

GSTR – 3.This return has to be filed on or before 20^th of each month after payment of GST .This is a return to show the liability of the Society to pay the GST .  This is auto populated . The return will allow the Society to adjust the GST payable by it through debit to its GST paid ledger, Input Tax ledger etc.  The interest, penalty or any other demand also can be adjusted out of the GST paid account.

Annual Return -  The annual return has to be filed on or before 31^st of December next year. This is basically a Annual Reconciliation Statement. For Aggregate annual  turnover less than Rs 1 Crore, the return is self certified. For aggregate turnover exceeding Rs 1 Crore, the return has to be certified by a Chartered Accountant./ Cost Accountant.  

Corrections reporting in GSTR 1 and GSTR 2 will be allowed for any month of the year, upto September next, or upto the date of filling of the Annual Return whichever is earlier.