Sinking fund contributions collected from CHS members subject to face 18% GST

MUMBAI: The Karnataka Authority for Advance Rulings (AAR) has held that contributions collected from members of a co-operative housing society towards a sinking fund - meant for future upkeep of the society, are subject to Goods and Services Tax (GST) at 18%.  It further held that the GST levy would be triggered upon receipt of the amount from the members and not in the future when the sinkin…