Reverse charge on development rights and long-term land leases now applies to supplies for construction by promoters The Kerala SGST notification adds two reverse-charge entries requiring promoters to pay tax where any person supplies (i) transfer of development rights or FSI (including additional FSI) for construction of a project by a promoter, and (ii) long term lease of land (30 years or more) against upfront consideration and/or periodic rent for construction of a project by a promoter. It also inserts definitions for apartment, promoter, project (REP/RREP), REP, RREP (commercial carpet area limit), and FSI. The amendment is effective 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.
Reverse charge on development rights and long-term land leases now applies to supplies for construction by promoters
The Kerala SGST notification adds two reverse-charge entries requiring promoters to pay tax where any person supplies (i) transfer of development rights or FSI (including additional FSI) for construction of a project by a promoter, and (ii) long term lease of land (30 years or more) against upfront consideration and/or periodic rent for construction of a project by a promoter. It also inserts definitions for apartment, promoter, project (REP/RREP), REP, RREP (commercial carpet area limit), and FSI. The amendment is effective 1 April 2019.
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