State tax liability for development rights arises on issuance of completion certificate or on first occupation for promoters. Promoters receiving development rights or FSI, or taking long term land leases for residential construction on or after 1 April 2019, are notified as registered persons liable to pay state tax on consideration including construction services given as consideration, monetary consideration relatable to residential construction, upfront lease amounts, and construction services supplied against development rights or FSI; the tax liability arises on issuance of the completion certificate where required or on first occupation, whichever is earlier, and such services are taxable under reverse charge as per the cited state notification.
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.
State tax liability for development rights arises on issuance of completion certificate or on first occupation for promoters.
Promoters receiving development rights or FSI, or taking long term land leases for residential construction on or after 1 April 2019, are notified as registered persons liable to pay state tax on consideration including construction services given as consideration, monetary consideration relatable to residential construction, upfront lease amounts, and construction services supplied against development rights or FSI; the tax liability arises on issuance of the completion certificate where required or on first occupation, whichever is earlier, and such services are taxable under reverse charge as per the cited state notification.
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