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of <h1>Bihar GST Act: Promoters Liable for State Tax on Development Rights, FSI, Long-term Leases from April 2019.</h1> Under the Bihar Goods and Services Tax Act, 2017, a notification effective from April 1, 2019, designates specific registered persons liable for state tax under certain conditions. These include promoters receiving development rights or Floor Space Index (FSI) for project construction, or long-term land leases for residential projects. Tax liability arises upon the project's completion certificate issuance or first occupation. The notification clarifies terms like 'apartment,' 'promoter,' and 'project' as per the Real Estate (Regulation and Development) Act, 2016. Tax on specified services is payable under reverse charge according to a prior notification.
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