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