Remove 18% GST on Cooperative Housing Society
1. Cooperative housing society is formed by members for their convenience.
2. Cooperative housing society is not a business entity.
3. Cooperative housing society is managed by members on voluntary basis without any remuneration.
4. Members pay contribution from their tax paid income. Therefore 18%GST on members contribution towards common expenses in a cooperative housing society is double taxation.
5. There is exemption from GST on members contribution of Rs.7500 per month. Therefore government may not collect substantial revenue.
6. However every society having a total contribution by members of Rs.20 lakhs in a year has to register for GST. This is resulting in a heavy burden of compliance in terms of expenses and filing of many returns.
7. In the past Courts have held that cooperative housing society are run on concept of mutuality. Therefore a tax can not be levied on members contribution towards common expenses.
8. However to impose GST government has changed the definition of cooperative housing society in GST Act.
9. GST on members contribution towards common expenses in a cooperative housing society is enriching Chartered Accountants.
In view of what is stated herein above we request Finance Minister to exempt Cooperative Housing Society from 18%GST in the interest of common man.
Kindly sign the petition if you agree with the above request for exemption from 18%GST on members contribution towards common expenses in a cooperative housing society.
Shri Sushil Kumar Modi
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"To Finance Minister
ajaitley@sansad.nic.in (Request a correction)"-
What really needs to be urged, forcefully, and in details/at length, is for a clearcut- clarification, on the points of grievance, and of common concern to the housing assciations, across the country.
ALL SAID; but most points are noted to have yet to percolate through , hence seem to have been omitted to be fully covered in the proposed Petition?!
The petition , having broadly sketched/itemised the grounds for objecting to the GST Levy on housing associations, need to cover all those spcific grounds / logic behind the MOVE !
If remember right, most such aspects requiring to be laid stress on and addressed have been already made a mention of through Posts (FEED Input) on the website of local circles itself , besides elsewhere - Suggest to check up !
courtesy more
income. Hence the government of a welfare state which India purports to be should not inflict multiple taxes on the same unsuspecting taxpaying public.
Similarly RBI reserves should not be handed over to Government but used to expand the compensation payable by DEposit Insurance Corporation to bank depositors which is currently only Rs.1lac per depositor per Bank, a pittance in these days. The amount has been decided from inception and is to be enhanced especially in view of current heightened risk.
L.Kalavathi
Retired Bank Official,
Chennai, Tamilnadu
India
21/01/2019 more