Water, Power Charges Not In Tax Ambit
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) are 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 a flat 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. A total of 50,000 cooperative housing societies (CHS) in Mumbai Metropolitan
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