Taxation of development rights and long-term land leases: supply to promoters treated as taxable for project construction. Adds taxable supply entries treating transfer of development rights/FSI and long term land leases for construction as supplies from any person to a promoter; inserts definitions for apartment, promoter, project (REP and RREP), Real Estate Project, Residential Real Estate Project (limited by commercial apartment carpet area), and floor space index (FSI). Changes effective from 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.
Taxation of development rights and long-term land leases: supply to promoters treated as taxable for project construction.
Adds taxable supply entries treating transfer of development rights/FSI and long term land leases for construction as supplies from any person to a promoter; inserts definitions for apartment, promoter, project (REP and RREP), Real Estate Project, Residential Real Estate Project (limited by commercial apartment carpet area), and floor space index (FSI). Changes effective from 1 April 2019.
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