50,000 co-op hsg so­ci­eties in city & sub­urbs in GST net

The Times of India (Mumbai edition) - - FRONT PAGE - Chit­taran­jan.Tem­b­hekar @times­group.com

Mum­bai: As many as 70,000 co-op­er­a­tive hous­ing so­ci­eties (CHS) in the state, in­clud­ing 50,000 in the Mum­bai Metropoli­tan Re­gion (MMR), will have to reg­is­ter un­der the Goods and Ser­vices Tax (GST) regime as their an­nual col­lec­tions (turnover) is likely to ex­ceed the thresh­old of Rs 20 lakh. This num­ber was con­firmed by se­nior co-op­er­a­tive of­fi­cials.

In many in­stances, trans­fer fees, which are charged by the CHS and paid by in­com­ing and out­go­ing mem­bers when

If a so­ci­ety has an­nual turnover of over Rs 20 lakh, it has to reg­is­ter un­der GST

For flat own­ers, no GST on monthly main­te­nance charges of up to Rs 5,000, even if so­ci­ety’s turnover is in ex­cess of Rs 20L aflat in the CHS is sold, con­trib­ute sig­nif­i­cantly to­wards a so­ci­ety’s an­nual col­lec­tion.

While the model by­laws un­der the Ma­ha­rash­tra Co­op­er­a­tive So­ci­eties Act have placed a limit of Rs 25,000 on trans­fer fees, in re­al­ity the fees run into a lakh or more per trans­fer. New Delhi: Mar­shal of the In­dian Air Force Ar­jan Singh passed away in Delhi on Satur­day, mark­ing the end of a life and ca­reer closely in­ter­twined with events that shaped In­dia post- In­de­pen­dence. He was 98.

Born on April 15, 1919, in what is now Faisal­abad in Pak­istan, he joined the IAF in 1938 at the age of 19 and went on to com­mand the force dur­ing the 1965 war with Pak­istan when he was 44. He earned a Padma Vib­hushan for his lead­er­ship that saw the IAF shake off ini­tial jolts and counter Pak­istan in air bat­tles. He is the only IAF vet­eran to get 5-star rank.

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