Tax liability on development rights and FSI arises on completion certificate or first occupation, with reverse charge applicable. Notification designates promoters who receive development rights/FSI or long term land leases in exchange for construction services, cash or upfront lease premium as registered persons for state GST; it provides that state tax on consideration payable or paid in the form of construction service, monetary consideration, or upfront lease amount shall arise on the earlier of issuance of a completion certificate or first occupation, adopts RERA definitions for key terms and confirms that tax on the covered services is payable under the reverse charge mechanism.
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.
Tax liability on development rights and FSI arises on completion certificate or first occupation, with reverse charge applicable.
Notification designates promoters who receive development rights/FSI or long term land leases in exchange for construction services, cash or upfront lease premium as registered persons for state GST; it provides that state tax on consideration payable or paid in the form of construction service, monetary consideration, or upfront lease amount shall arise on the earlier of issuance of a completion certificate or first occupation, adopts RERA definitions for key terms and confirms that tax on the covered services is payable under the reverse charge mechanism.
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