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<h1>Gujarat GST Rules Amended: New ITC and Asset Valuation Guidelines for Real Estate Projects Effective April 1, 2019.</h1> The Gujarat Goods and Services Tax (Second Amendment) Rules, 2019, effective from April 1, 2019, introduce several amendments to the Gujarat GST Rules, 2017. Key changes include clarifications on the valuation of assets and input tax credit (ITC) calculations for construction projects, particularly those involving residential and commercial real estate. The amendments specify procedures for ITC reversal and allocation across multiple projects and include new forms for GST assessments and demands. The rules also outline the order of ITC utilization and provide detailed guidelines for the calculation of common credit for exempted supplies.