GST treatment for construction services: differentiated rates, ITC transition formulas and compliance conditions for promoters. Amendment restructures Haryana GST provisions effective 1 April 2019 to prescribe differentiated central tax rates for construction services by promoters (affordable residential, non affordable residential, commercial, composite works contracts), establishes a one time option for ongoing projects to elect specified rates by 10 May 2019, and sets detailed ITC allocation and transitional adjustment formulas (Tx = T - Te) in Annexures I and II. It imposes an 80% registered supplier procurement threshold, reverse charge treatment for cement from unregistered suppliers, project wise accounting and electronic reporting, and inserts definitions and illustrative computations.
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GST treatment for construction services: differentiated rates, ITC transition formulas and compliance conditions for promoters.
Amendment restructures Haryana GST provisions effective 1 April 2019 to prescribe differentiated central tax rates for construction services by promoters (affordable residential, non affordable residential, commercial, composite works contracts), establishes a one time option for ongoing projects to elect specified rates by 10 May 2019, and sets detailed ITC allocation and transitional adjustment formulas (Tx = T - Te) in Annexures I and II. It imposes an 80% registered supplier procurement threshold, reverse charge treatment for cement from unregistered suppliers, project wise accounting and electronic reporting, and inserts definitions and illustrative computations.
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