Maintenance Charges levied by Co-operative Societies and the GST thereon : (Very Important).
Sahakarsutra Infoseries: Maintenance Charges levied by Co-operative Societies and the GST thereon : (Very Important). 1. Tax Rate: - All the Co-operative Societies registered under GST laws are liable to collect GST on the services provided by them to their members. The rate of tax is 18% to be charged separately under two headings namely; CGST @ 9% and SGST @ 9%. 2. Issue of Tax Invoice: - The services include exempt services, zero rated services as well as other rated taxable services. The Society has to issue “Tax Invoice” for taxable services and separate “Bill of Supply” for exempt services rendered by society. Supply of zero rated services will be part of Tax Invoice. 3. Taxes on the Basis of RCM: - A society is required to pay the GST on the basis of Reverse Charge Mechanism (RCM) on the services such as legal services from Advocates, Transport Services from Good Transport Agency (GTA) and Inward supply ...