Transfer of development rights and long-term land leases to promoters are made taxable under state GST law. The notification adds taxable entries treating the transfer of development rights or Floor Space Index (FSI) to a promoter and long term land leases where consideration is paid upfront and/or periodically for construction by a promoter as taxable supplies, and introduces definitions for apartment, promoter, project, Real Estate Project (REP), Residential Real Estate Project (RREP) and 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.
Transfer of development rights and long-term land leases to promoters are made taxable under state GST law.
The notification adds taxable entries treating the transfer of development rights or Floor Space Index (FSI) to a promoter and long term land leases where consideration is paid upfront and/or periodically for construction by a promoter as taxable supplies, and introduces definitions for apartment, promoter, project, Real Estate Project (REP), Residential Real Estate Project (RREP) and FSI.
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