Amendments in the Notification of the Government of Tripura, in the Finance Department, No. 13/2017- State Tax (Rate), dated the 29th June, 2017. - 05/2019-State Tax (Rate) - Tripura SGST
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Transfer of development rights and long term land leases to promoters treated as taxable services under SGST amendment. The notification inserts taxable service entries covering (a) transfer of development rights or FSI (including additional FSI) to a promoter for project construction, and (b) long term land leases (30 years or more) for project construction against upfront consideration and/or periodic rent to a promoter. It adds explanatory definitions: apartment and promoter as per the Real Estate (Regulation and Development) Act, project as REP or RREP, REP as per the Act, RREP where commercial carpet area is not more than 15% of total carpet area, and FSI as the ratio of gross floor area to land area. Effective 1 April 2019.
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.
Transfer of development rights and long term land leases to promoters treated as taxable services under SGST amendment.
The notification inserts taxable service entries covering (a) transfer of development rights or FSI (including additional FSI) to a promoter for project construction, and (b) long term land leases (30 years or more) for project construction against upfront consideration and/or periodic rent to a promoter. It adds explanatory definitions: apartment and promoter as per the Real Estate (Regulation and Development) Act, project as REP or RREP, REP as per the Act, RREP where commercial carpet area is not more than 15% of total carpet area, and FSI as the ratio of gross floor area to land area. Effective 1 April 2019.
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