We have a housing society of 65 flats . Our builder had collected advance maintenance for 30 months from each flat at the time of possession along with 18% GST. Now after 15 months he his handing over the maintenance to the housing society but only the basic amount. He says the GST has been paid and cannot be refunded. Our issue is that our monthly maintenance amount is above the threshold limits and we are registered under GST. The amount received from the builder in society bank account is after the Society GST Registration date. Society member are not ready to pay GST on the same amount again.
what will be our liability towards GST in this context. kindly guide.
CAclubindia
