Seeks to amend notification No. 13/2017- Union Territory 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 - Union Territory GST (UTGST) Rate

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Reverse Charge Mechanism expands to include transfer of development rights and long term land leases to promoters for construction projects. Prescribes that supplies to a promoter taxed under the Reverse Charge Mechanism include transfer of development rights or FSI (including additional FSI) for construction of a project, and long term lease of land (30 years or more) with upfront consideration and/or periodic rent for construction of a project; and inserts definitions for apartment, promoter, project, Real Estate Project, Residential Real Estate Project, and floor space index (FSI).

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 expands to include transfer of development rights and long term land leases to promoters for construction projects.

Prescribes that supplies to a promoter taxed under the Reverse Charge Mechanism include transfer of development rights or FSI (including additional FSI) for construction of a project, and long term lease of land (30 years or more) with upfront consideration and/or periodic rent for construction of a project; and inserts definitions for apartment, promoter, project, Real Estate Project, Residential Real Estate Project, and floor space index (FSI).

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Seeks to amend notification No. 13/2017- Union Territory 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 - Union Territory GST (UTGST) Rate

Reverse Charge Mechanism expands to include transfer of development rights and long term land leases to promoters for construction projects.

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Seeks to amend notification No. 13/2017- Union Territory 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 - Union Territory GST (UTGST) Rate

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Reverse Charge Mechanism expands to include transfer of development rights and long term land leases to promoters for construction projects.

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