Reverse charge liability: promoters must pay tax on supplies from unregistered suppliers for specified construction shortfalls and inputs. The registered person who is the promoter shall pay tax on reverse charge for supplies received from unregistered suppliers consisting of (i) shortfalls from the minimum value of goods or services required to be purchased by a promoter for a construction project, (ii) cement classified under the relevant customs tariff constituting such shortfall, and (iii) capital goods supplied to a promoter for construction of a project on which tax is payable at prescribed rates; key terms including Promoter, project, Residential Real Estate Project and Floor Space Index are defined.
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.
Reverse charge liability: promoters must pay tax on supplies from unregistered suppliers for specified construction shortfalls and inputs.
The registered person who is the promoter shall pay tax on reverse charge for supplies received from unregistered suppliers consisting of (i) shortfalls from the minimum value of goods or services required to be purchased by a promoter for a construction project, (ii) cement classified under the relevant customs tariff constituting such shortfall, and (iii) capital goods supplied to a promoter for construction of a project on which tax is payable at prescribed rates; key terms including Promoter, project, Residential Real Estate Project and Floor Space Index are defined.
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