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Amendment in the Government of Punjab, Department of Excise and Taxation, Notification No. S.O.17/P.A.5/2017/Ss.9, 11, 15 and 16/2017 dated the 30th June, 2017. - S.O.76/P.A.5/2017/Ss.9, 11, 15, 16 and 148/Amd./2019 - Punjab SGST
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Real estate GST amendment adjusts tax rates, ITC allocation, reverse-charge and compliance rules for property promoters. Amendment revises taxation of construction and works-contract services by promoters: it prescribes specific state tax rates for categories of apartments (including 0.75% for affordable RREP and 3.75% for other residential RREP), requires cash payment of state tax, limits ITC claim to amounts and methods in Annexure I (REP) and Annexure II (RREP), imposes an 80% procurement-from-registered-suppliers threshold with reverse-charge on shortfalls and on cement from unregistered suppliers, provides a one-time elective option for ongoing projects by 10 May 2019, inserts recipient-liability entry for services from unregistered persons, and adds detailed definitions plus project-wise formulas (Tx/Te and F-factors) for computing eligible ITC and transitional reversals.
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.
Real estate GST amendment adjusts tax rates, ITC allocation, reverse-charge and compliance rules for property promoters.
Amendment revises taxation of construction and works-contract services by promoters: it prescribes specific state tax rates for categories of apartments (including 0.75% for affordable RREP and 3.75% for other residential RREP), requires cash payment of state tax, limits ITC claim to amounts and methods in Annexure I (REP) and Annexure II (RREP), imposes an 80% procurement-from-registered-suppliers threshold with reverse-charge on shortfalls and on cement from unregistered suppliers, provides a one-time elective option for ongoing projects by 10 May 2019, inserts recipient-liability entry for services from unregistered persons, and adds detailed definitions plus project-wise formulas (Tx/Te and F-factors) for computing eligible ITC and transitional reversals.
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