Taxability of development rights and long term land leases: state GST applies when supplied for promoter construction projects. The notification adds two taxable services: transfer of development rights or FSI (including additional FSI) supplied for construction of a project by a promoter; and long term lease of land (30 years or more) for construction of a project by a promoter where consideration is upfront and/or periodic. Both list the supplier as any person and recipient as promoter. New definitions adopt terms from the Real Estate (Regulation and Development) Act, 2016, including apartment, promoter, project (REP and RREP) and floor space index (FSI).
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.
Taxability of development rights and long term land leases: state GST applies when supplied for promoter construction projects.
The notification adds two taxable services: transfer of development rights or FSI (including additional FSI) supplied for construction of a project by a promoter; and long term lease of land (30 years or more) for construction of a project by a promoter where consideration is upfront and/or periodic. Both list the supplier as any person and recipient as promoter. New definitions adopt terms from the Real Estate (Regulation and Development) Act, 2016, including apartment, promoter, project (REP and RREP) and floor space index (FSI).
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