GST rate amendments expand concessional treatment for affordable housing projects and clarify valuation and input tax credit rules. Amendments to the Telangana State Tax (Rate) Notification No.11/2017 modify entries and rates for specified taxable services and composite supplies under the Telangana GST Act, 2017, extending concessional treatment to in-situ slum redevelopment, EWS and other affordable housing under PMAY (Urban), adding exemptions for buildings used for mid-day meal distribution by 12AA entities, refining composite works contract entries for sub-contractors to governmental purchasers, imposing valuation rules deeming land to be one third of composite charges, and clarifying input tax credit conditions; effective 25 January 2018.
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GST rate amendments expand concessional treatment for affordable housing projects and clarify valuation and input tax credit rules.
Amendments to the Telangana State Tax (Rate) Notification No.11/2017 modify entries and rates for specified taxable services and composite supplies under the Telangana GST Act, 2017, extending concessional treatment to in-situ slum redevelopment, EWS and other affordable housing under PMAY (Urban), adding exemptions for buildings used for mid-day meal distribution by 12AA entities, refining composite works contract entries for sub-contractors to governmental purchasers, imposing valuation rules deeming land to be one third of composite charges, and clarifying input tax credit conditions; effective 25 January 2018.
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