GST means 2.5% more tax on a flat's maintenance charge

    Once the GST regime rolls in on July 1, apartment owners will have to pay about 2.5% additional tax on maintenance charges. The tax is applicable on flat owners who pay a maintenance charge of above Rs 5,000, excluding property tax , stamp duty , and electricity and water charges. Under GST, the existing rate of 15.55% on maintenance charges will be replaced by 18%. The new rate is a…