Seeks to amend notification No. 10/2017- Integrated Tax (Rate) so as to specify services to be taxed under Reverse Charge Mechanism (RCM) as recommended by Goods and Services Tax Council for real estate sector. - 05/2019 - Integrated GST (IGST) Rate
📋
Contents
Cases Cited
Referred In
Notifications
Circulars
Forms
Manuals
Acts
Rules & Regulations
Case Laws New
Ref Provisions New
Plus +
Source NTF
Summary
Similar
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Reverse charge mechanism: supplies of development rights or long-term land leases for promoter construction are taxable under IGST. Inserts two entries making supplies taxable under the Reverse Charge Mechanism: (i) transfer of development rights or FSI (including additional FSI) supplied for construction of a project by a promoter; and (ii) long term lease of land by any person for construction of a project by a promoter where consideration is upfront and/or periodic rent. Adds definitions for apartment, promoter, project, Real Estate Project, Residential Real Estate Project, and floor space index (FSI). Effective from 1 April 2019.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Reverse charge mechanism: supplies of development rights or long-term land leases for promoter construction are taxable under IGST.
Inserts two entries making supplies taxable under the Reverse Charge Mechanism: (i) transfer of development rights or FSI (including additional FSI) supplied for construction of a project by a promoter; and (ii) long term lease of land by any person for construction of a project by a promoter where consideration is upfront and/or periodic rent. Adds definitions for apartment, promoter, project, Real Estate Project, Residential Real Estate Project, and floor space index (FSI). Effective from 1 April 2019.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
