- ICMAI’s Tax Research Department released the Handbook on GST on Co-operative Sector – March, 2024 edition
- The handbook was produced with contributions from the Tax Research Department and various resource persons
- The support and mentorship from experts have benefited stakeholders, students, and learners
- Cooperatives are democratic enterprises aimed at meeting common economic, social, and cultural needs
- Cooperative societies must maintain comprehensive records for income computation and undergo audits if engaged in business activities
- Cooperative societies with turnovers over Rs. 20 lakhs must adhere to GST regulations, making the handbook important for understanding these requirements.
Source: a2ztaxcorp.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
