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RWAs Liable To Pay GST For Over-Charging Electricity Tariff From Flat Owners

Real estate developers and RWAs will be liable to pay 18 per cent GST on electricity bills if they charge from flat owners more than the power tariff prescribed by Discoms.

Real estate developers, RWAs liable to pay GST for over-charging electricity tariff from flat owners

The Central Board of Indirect Taxes and Customs (CBIC) has clarified that real estate developers and Resident Welfare Associations (RWAs) will be liable to pay 18% GST on electricity bills if they charge flat owners more than the power tariff set by Discoms. However, if they charge the same amount for electricity as state electricity boards or Discoms, they will be considered pure agents and GST won t apply. According to experts, this ruling may lead to an increase in rental costs.

gst: FinMin notifies prospective levy of GST on corporate guarantees

The finance ministry has released an official notice indicating that, going forward, goods and services tax (GST) will be applied to corporate guarantees offered by companies to their subsidiaries. Earlier this month, the GST council provided clarification on the taxation of corporate guarantees, specifying that they would be subject to an 18 percent GST.

Finance ministry notifies prospective levy of GST on corporate guarantees

Finance ministry notifies prospective levy of GST on corporate guarantees
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FinMin notifies prospective levy of GST on corporate guarantees

FinMin notifies prospective levy of GST on corporate guarantees
financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.

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