Goods and Service Tax (GST) on the security deposit payable by the tenant is undergoing a change which may get some good news for tenants. Simultaneously, alteration in GST for the homeowner may invite onus for the flat holder.
Now flat/homeowners will be required to pay 18% GST rate on society maintenance if they contribute more than Rs 7,500 to resident welfare association (RWA) every month as monthly maintenance charges.
