Changes In Maintenance Charges Levied Under GST
Under the GST regime, buyers of under-construction properties have to pay an effective rate of 12%, which in effect would be lower than the taxes buyers earlier paid. While buyers could rejoice this positive change, homeowners in apartment societies and Resident Welfare Associations have been burdened with increased maintenance charges under the GST. The rate for maintenance charges has been increased to 18 per cent from 15.55 per cent. This is applicable only for maintenance charges exceeding Rs 7,500 per month for an owner or an annual balance of Rs 20 lakh for the society.