Living in a flat become expensive! Govt took a big decision!
A big news is coming out for the people living in flats. If you pay more than Rs 7500 every month for the maintenance of the housing society, then now you will have to spend more on it. This is because the government is going to impose 18 percent GST on the maintenance of the housing society.
The government made this big change in the housing rules
According to a report by The New indian Express, the government has changed the housing rules. Under this, if the maintenance of the apartment is costing more than Rs 7500 every month and more than Rs 20 lakh in a year, then 18 percent GST will have to be paid on it. However, if a person has two or more flats in a housing society and he pays maintenance of Rs 7,500-7,500 every month, totaling Rs 15,000, then he will not have to pay any GST for each flat. They will have to pay GST on the entire amount. In its 25th meeting in january 2018, the GST Council increased the exemption limit by Rs 5,000 to Rs 7,500 per month to benefit RWAs and housing societies.
How to check the status of your apartment
Suppose you have to spend Rs 9,000 on maintenance every month and the annual turnover of the entire society is more than Rs 20 lakh, then now you will be charged an additional Rs 1,620 as GST, due to which you will have to pay Rs 10,620 per month instead of Rs 9,000. However, this rule of 18 percent GST will not apply to all flats. In such a situation, to check the status of your apartment, you can go to the local commercial tax office and check the status of your society by paying Rs 500.
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