Exemption from GST to Housing Society RWA
Services provided by RWA (unincorporated body or a registered non- profit entity) to its own members by way of reimbursement of charges or share of contribution up to an amount of Rs. 5000/- per month per member for providing services and goods for the common use of its members in a housing society or a residential complex are exempt from GST.
Relaxation upto Rs. 20 lakh
If the aggregate turnover of such RWA is upto Rs.20 Lakh in a financial year, then such supplies would be exempted from GST even if charges per member are more than Rs. 5000/-
Applicability of GST
RWA shall be required to pay GST @ 18% on monthly subscription/contribution charged from its members if such subscription is more than Rs. 5000 per member AND the annual turnover of RWA by way of supplying of services and goods is also Rs. 20 lakhs or more.
Entitlement of ITC with respect to capital goods & Input services
Unlike earlier, they would now be entitled to ITC in respect of taxes paid by them on capital goods (generators, water pumps, lawn furniture etc.), goods (taps, pipes, other sanitary/hardware fillings etc.) and input services such as repair and maintenance services.