Advice

Is GST applicable on non occupancy charges?

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Is GST applicable on non occupancy charges?

Sinking fund, repairs & maintenance fund, car parking charges, Non- occupancy charges or simple interest for late payment, attract GST, as these charges are collected by the RWA/ Co-operative Society for supply of services meant for its members.

Does delivery charges attract GST?

If the freight charge is included, then GST on freight charges must be levied at the tax rate same as the rate charged on supply of the goods or consignment. However, as per the GST law, if the freight is exclusive and separately charged, then the GST rate on transportation service is 5\%.

Do professional fees attract GST?

Yes you are required to charge GST since you are providing professional service (as 10\% TDS is getting deducted) and your turnover is above Rs. 20 lakh in one year. Yes, you are required to charge GST@18\% on the same.

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Does sinking fund attract GST?

How is non occupancy charges calculated?

As mentioned above, non-occupancy charges levied by society should not be more than 10 per cent of the service charges. For example, if the service charges portion in the monthly maintenance calculation are Rs 2,710 per month, non-occupancy charges would be Rs 271 (10\% of Rs 2,710) per month.

How do I add courier charges to GST invoice?

How To Add Transport Charges in GST Invoice TallyPrime

  1. Enter gateway of TallyPrime.
  2. Select Company.
  3. Under Masters, Create ledger,
  4. Click Yes to save the new ledger created.
  5. Visit back gateway of TallyPrime and now select the Accounting Voucher tile.

Can we claim ITC on courier charges?

Reply— Yes, ITC of overseas courier charges is allowed, it is not restricted; taxpayer is eligible to claim such ITC. Provided that where the transportation of goods is to a place outside India, the place of supply shall be the place of destination of such goods.

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Can Builder increase maintenance charges?

No. The builder will be responsible for maintenance charges till he hands over the possession to the homebuyer. Once the possession is delivered, society can charge such charges as per its own rules.

Are maintenance charges taxable?

Referring to the Karnataka High Court judgment in CIT vs. The expenditure on maintenance services is not to be deducted from income from house property and neither the income from maintenance charges recovered is to be treated as income from house property,” the Tribunal said.