Resident Welfare Association to pay GST on receipt of funds towards sinking fund, holds AAAR

MUMBAI: The Appellate Advance Ruling Authority (AAAR), West Bengal bench, has held that contribution received by a resident welfare association (RWA) from its members towards Corpus or Sinking Fund is taxable at the time of receipt. The RWA has to pay GST at the time of receipt of such sums. The Appellate AAR observed that a member contributes to such funds with an agreed condition that the RWA wi…