Seeks to notify certain services to be taxed under RCM under section 5(4) of IGST Act as recommended by Goods and Services Tax Council for real estate sector. - 07/2019 - Integrated GST (IGST) Rate
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Reverse charge mechanism: promoter to pay GST on specified supplies from unregistered suppliers in real estate sector. Notification under section 5(4) IGST Act requires the recipient to pay tax on reverse charge basis for supplies from unregistered suppliers to a promoter: (i) shortfall supplies required under prior rate notification (excluding certain development rights, long term leases and FSI transactions); (ii) cement falling under the specified Customs Tariff chapter; and (iii) capital goods supplied for construction of projects taxed at prescribed concessional rates. Definitions for promoter, project, REP, RREP and FSI are provided and the notification states its effective date.
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: promoter to pay GST on specified supplies from unregistered suppliers in real estate sector.
Notification under section 5(4) IGST Act requires the recipient to pay tax on reverse charge basis for supplies from unregistered suppliers to a promoter: (i) shortfall supplies required under prior rate notification (excluding certain development rights, long term leases and FSI transactions); (ii) cement falling under the specified Customs Tariff chapter; and (iii) capital goods supplied for construction of projects taxed at prescribed concessional rates. Definitions for promoter, project, REP, RREP and FSI are provided and the notification states its effective date.
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