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Is GST applicable on new member Admission Fee in club?
Rs. 150000/- rec'd. from a new member, out of which Rs. 25000/- considered as Admission fee and transferred to P&L A/c and balance Rs. 125000/- considered as corpus fund and transferred to club's capital account. What is the taxability under GST?
Replies (1)
Following the retrospective amendment to the CGST Act in 2021, clubs and their members are deemed distinct entities, making most membership-related fees taxable. While the admission fee is generally treated as a taxable supply of services, the taxability of corpus funds is often contested based on whether they qualify as "consideration." It is highly recommended to seek professional advice to review your specific club structure and accounting practices.
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