Tax liability on development rights and FSI arises on completion or first occupation; promoters notified for reverse charge. Notification designates promoters who receive development rights/FSI or long term leases of land in consideration (including construction service or upfront amounts) as liable to pay central tax, and states that tax liability on consideration in the form of construction service, monetary consideration related to development rights/FSI, upfront lease amounts, and construction supplies against development rights/FSI arises on issuance of the completion certificate for the project or on first occupation, whichever is earlier; tax on these services is payable under the reverse charge mechanism.