West Bengal amends GST rules; landowner-promoters can use developer tax credits, adds 2.5% tax for ship repairs.

The Government of West Bengal has issued a notification amending the previous notification No. 1135-F.T. dated 28th June 2017 concerning the rate of taxable services under the West Bengal Goods and Services Tax Act, 2017. The amendments include allowing landowner-promoters to utilize tax credits from developer-promoters for tax payments on apartments. Additionally, new entries have been added for maintenance, repair, or overhaul services for ships and other vessels, with a specified tax rate of 2.5%. These changes are effective from 2nd June 2021, as per the order by the Governor.

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