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GST - Highlights / Catch Notes

Home Highlights March 2023 Year 2023 This

Taxability of amount received - Co-operative Housing Society - ...

GST

March 27, 2023

Taxability of amount received - Co-operative Housing Society - receipt of a gratuitous payment from an outgoing member for the time he has resided in the society - no corresponding service being provided separately by the tax payer society - the said contribution by the outgoingmember is nothing but Advance amounts paid to the society for services carried out or to be carried out for the members of the Society and is therefore taxable as per the GST Laws. - AAAR

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