GST rate amendment expands tax credit use for landowner-promoter apartments and adds concessional ship repair services. The Uttarakhand GST notification amends the existing rate framework to permit a landowner-promoter to utilise tax credit charged by the developer-promoter for payment of tax on apartments supplied in the project, subject to the specified conditions. It also inserts maintenance, repair or overhaul services in respect of ships and other vessels, their engines and other components or parts at a concessional rate of 2.5 per cent, with the related entry adjusted accordingly. The amendment is given retrospective effect from 2 June 2021.
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GST rate amendment expands tax credit use for landowner-promoter apartments and adds concessional ship repair services.
The Uttarakhand GST notification amends the existing rate framework to permit a landowner-promoter to utilise tax credit charged by the developer-promoter for payment of tax on apartments supplied in the project, subject to the specified conditions. It also inserts maintenance, repair or overhaul services in respect of ships and other vessels, their engines and other components or parts at a concessional rate of 2.5 per cent, with the related entry adjusted accordingly. The amendment is given retrospective effect from 2 June 2021.
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