Car Parking Charges & Sinking Fund

By Accommodation Times News Service By FCA, Rajkumar Adukia Introduction Sinking Fund and Car Parking Charges are two major components amongst the list of charges levied by a Cooperative Society. The contribution collected from the members of a society is known as ‘charges’ and may include – property taxes, Water Charges, Common Electricity Charges, charges for

GST on Society

CA Pathik Shah, Partner, B. P. Shah & Co. 1. The society collects the following charges from the members on the quarterly basis as follows: a. Property Tax-actual as per Municipal Corporation of Greater Mumbai (MCGM) b. Water Tax- Municipal Corporation of Greater Mumbai (MCGM) c. Water charges d. Electricity charges e. Sinking Fund- mandatory under