It is a case of Residential Society in Greater NOIDA
- The Society is charging Rs 76,017 p.a. to one set of households, numbering 80 and Rs 70,949 to another set of houses numbering 70 as Maintenance Charges. Total Maint Charges come to Rs. 1,10,47,800/-
- It sources water from Govt Entity, gets a lumpsum bill on annual basis. Water is supplied to households for domestic use. It also has its own borewell to supply water for gardening in the common areas. Now Society wants to Collect Water Charges separately @ Rs 17,133 and Rs 15,990 p.a. respectively for two sets houses. Total water Charges Come to Rs 24,90,000/-
- Electricity: Society gets Elec @ Rs 6.50 per unit, but supplies to the residents @ Rs. 7.50 per unit so to cover electricity costs for common areas, like street lights and park light. Expenditure and collection of Electricity exp are equal and amount to Rs.40 lacs p.a.
- Its other sources of revenue are:
- Overgrowth of grass cutting charges for Vacant Houses @ rs 6.600 p.a. for each vacant house
- Interest from members for delayed payments
- Administrative Fee for dealing the cases of rent and/or sale of villas
- One time Charges @ 7.50 lacs and Rs 5.00 lacs at the time when any house is sold
- Interest from deposits in the Bank, and finally
- Every year collection of Rs. 5000/- per villa as in the form of capital receipt to shore up the Reserves of society for incurring Capital Expenditure in the future.
Is the Society applicable to be registered under GST. If so, which collections fall under GST and which are beyond the scope of GST.
CAclubindia
