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of <h1>India Amends GST Rules: Real Estate Services Get Tax Exemption on TDR, FSI, and Long-Term Leases.</h1> The Government of India issued Notification No. 04/2019 to amend Notification No. 12/2017-Central Tax (Rate), exempting certain services in the real estate sector from GST, effective April 1, 2019. Key amendments include exemptions for services related to the transfer of development rights (TDR) or Floor Space Index (FSI) and long-term leases for constructing residential apartments. The notification outlines conditions for GST exemptions and tax liabilities on un-booked apartments at project completion. Definitions for terms like 'apartment,' 'promoter,' and 'carpet area' are clarified under the Real Estate (Regulation and Development) Act, 2016.
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