GST on Housing Society Maintenance Charges
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Here's what you need to know!🏠👇🏻 1. GST – A tax levied on the sale of new properties that can affect your total cost. 2. Advanced Maintenance Charges – Upfront fees for future upkeep of common areas in the building. 3. Preferential Location Charges (PLC) – Extra costs for properties with premium locations or views. 4. Floor Rise Charges – Added costs for higher-floor units due to the elevated view and exclusivity. 5. Clubhouse & Amenities Fees – Charges for accessing community facilities like
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Understanding the difference between society maintenance and advance maintenance charges is crucial for homeowners and tenants alike. Here’s a simple breakdown: Society Maintenance Charges: These are monthly fees paid by residents to the housing society. Advance Maintenance Charges: These are collected before the formation of the housing society or during the purchase of the property. In essence, society maintenance charges are recurring payments for ongoing services, while advance maintenance c
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