Jammu & Kashmir GST Act: Special Tax Procedure for Construction Services and Development Rights Transfers Effective January 25, 2018.
The Government of Jammu and Kashmir issued a notification under the Jammu and Kashmir Goods and Services Tax Act, 2017, establishing a special procedure for tax payment by registered persons involved in construction services against the transfer of development rights. This applies to those supplying development rights to developers or builders in exchange for construction services and vice versa. The tax liability arises when possession or rights in the constructed property are transferred through a conveyance deed or similar instrument. This notification is effective from January 25, 2018.
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