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of <h1>Meghalaya Amends GST Act: Exempts Services in Real Estate Sector, Including TDR and FSI Transfers for Residential Projects.</h1> The Government of Meghalaya has amended the Meghalaya Goods and Services Tax Act to exempt certain services related to the real estate sector, effective from April 1, 2019. The amendment, based on recommendations from the Goods and Services Tax Council, introduces exemptions for services involving the transfer of development rights (TDR) or Floor Space Index (FSI) for residential apartment construction, provided specific conditions are met. It also covers upfront payments for long-term land leases. The exemptions are subject to conditions, including tax liabilities on unbooked apartments and specific rates for affordable housing. Definitions for terms such as 'apartment,' 'promoter,' and 'project' are clarified in accordance with the Real Estate (Regulation and Development) Act, 2016.
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