Availment of itc by housing societies

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tushar sawant (Querist)
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11 January 2019 Housing Societies are not collecting GST from its members since monthly subscription is less than Rs.7,500/-(Less than exemption limit).Society is getting income from tower rent on which they are collecting GST.

Now my query is;

Whether society is entitle to avail entire credit or it has to reverse the credit because they are not collecting GST from members as ITC is utilised for providing exempt services(No collection of GST from members as subscription is less than Rs.7,500/-) So whether proportionate reversal of ITC is required every month.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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12 January 2019 You have to collect and pay GST on tower rent if it's exceed 20 Lacs per annum. Who is collecting GST from you.

tushar sawant

tushar sawant (Querist)
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12 January 2019 Sir,

Society is collecting GST on tower rent but my query is since society is providing taxable (Tower rent) as well as exempted services(GST not collected from members on maintainance charges as monthly subscription is less than Rs.7500/-) so whether we need to reverse input tax credit proportionately on monthly basis.

ACA Sarita Laddha

ACA Sarita Laddha (Expert)
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12 January 2019 In my opinion, ITC is need to be reversed proportionately.

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