Reverse Charge Mechanism expanded to include development rights transfers and long-term land leases for promoter projects.
Amendment inserts two entries bringing services of transfer of development rights or FSI (including additional FSI) and long-term lease of land (30 years or more) where consideration is upfront and/or rent, when supplied for construction of a project, under Reverse Charge Mechanism payable by the promoter. It further defines "apartment", "promoter", "project" (REP and RREP), RREP commercial-area threshold, and "floor space index (FSI)". The notification is effective from 1 April 2019.

Transfer of development rights and long term land leases to promoters treated as taxable services under SGST amendment.
The notification inserts taxable service entries covering (a) transfer of development rights or FSI (including additional FSI) to a promoter for project construction, and (b) long term land leases (30 years or more) for project construction against upfront consideration and/or periodic rent to a promoter. It adds explanatory definitions: apartment and promoter as per the Real Estate (Regulation and Development) Act, project as REP or RREP, REP as per the Act, RREP where commercial carpet area is not more than 15% of total carpet area, and FSI as the ratio of gross floor area to land area. Effective 1 April 2019.

GST exemption on development rights and lease premiums for residential projects, with reverse charge tax for unbooked apartments.
Amendment grants GST exemption for transfer of development rights (TDR)/FSI and upfront lease amounts used for construction of residential apartments intended for sale, with the exempt amount pro rata based on carpet area of residential apartments relative to total carpet area. Promoters must pay tax on the proportion attributable to apartments remaining un booked at completion/first occupation on a reverse charge basis, calculated by applying the carpet area ratio to the GST otherwise payable, subject to capped tax percentages for affordable and other residential apartments. Deemed valuation rules and defined terms are prescribed.

GST exemption for development rights and long term lease provides calculation and reverse charge on unsold units with capped tax liabilities.
Amendments add entries 41A and 41B exempting GST on transfer of development rights/FSI and on upfront long term lease amounts for construction of residential apartments, with the exemption apportioned by carpet area. Promoters must pay tax on the proportion attributable to unsold residential apartments on issuance of completion certificate or first occupation under reverse charge, subject to caps; valuation of transferred rights and unsold apartments is deemed to be the value of similar apartments charged by the promoter nearest the relevant date.

Real estate construction tax rules: promoters must follow new SGST rates, ITC apportionment, and reverse charge obligations.
Amendments to Tripura's SGST rate notification (effective 1 April 2019) reclassify construction services in REP and RREP, prescribe distinct state tax rates (some payable only from electronic cash ledger), restrict and apportion input tax credit for construction through project wise formulas in Annexures I and II, mandate an 80% registered supplier threshold (with reverse charge on shortfall and on cement from unregistered suppliers), provide valuation rules where development rights/FSI are transferred, and create a one time promoter option (by 10 May 2019) to pay at specified concessional rates, with new definitions and procedural filing requirements.

GST rate change for construction services: differentiated state tax rates, ITC transition rules, and promoter option to elect alternate rate.
Amendments restructure state tax rates for construction services, distinguishing affordable residential, other residential, commercial and composite works, permit a one time option for promoters of ongoing projects to elect an alternate rate, require payment of specified state tax from the electronic cash ledger, and tightly regulate input tax credit use through project wise computation and Annexure formulas. The changes impose reverse charge for supplies from unregistered persons (including a specific entry for services supplied by unregistered persons to promoters), mandate project wise records, end of year shortfall calculations and prescribed reporting, and add detailed definitions and procedural forms for compliance under the transitional regime.

GSTR-1 filing timeline for small taxpayers to submit quarterly outward supply details by notified deadline.
SRO-242 notifies registered persons with aggregate turnover up to 1.5 crore rupees as a class required to furnish outward supply details in FORM GSTR-1 quarterly under the Jammu and Kashmir GST Rules; the April-June 2019 quarter must be filed by 31st July, 2019, and time limits for returns for July 2017-June 2019 will be notified subsequently.

Composition Levy option preserves simplified tax payment but excludes manufacturers of certain tariff classified goods from eligibility.
An eligible registered person may opt for the composition levy instead of tax under section 9, subject to an aggregate turnover ceiling in the preceding financial year and a lower ceiling for eligible persons registered under section 25 in specified States; manufacturers of ice cream, pan masala, and tobacco/manufactured tobacco substitutes are ineligible. The notification relies on the First Schedule to the Customs Tariff Act, 1975 for tariff classification and interpretation and supersedes the earlier SRO.

Listing obligations amendment fixes the effective date for a transaction disclosure requirement and clarifies regulatory timing.
Amends the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 by inserting into regulation 23(1A) the words "with effect from July 01, 2019," after "above," and before "a transaction", thereby fixing an effective date for the referenced transaction disclosure requirement.

Takeover regulations amendment tightens exemption criteria, removes competent authority references and defines lenders for applicability.
Amendment to regulation 10 removes references to a competent authority, omits the term "scheme," substitutes the proviso to require compliance with sub-regulation (6) of regulation 158 of the Issue of Capital and Disclosure Requirements Regulations, 2018, and inserts an explanation defining lenders as scheduled commercial banks (excluding Regional Rural Banks) and All India Financial Institutions; clause (ia) and sub-regulation (2) of regulation 10 are omitted.

Regulatory amendment defining lenders clarifies eligible lending institutions and removes scheme reference and a sub regulation from ICDR rules.
The amendment revises regulation 158 of the Issue of Capital and Disclosure Requirements Regulations, 2018 by removing the word "scheme" from sub regulation (6), inserting an explanation defining "lenders" to mean all scheduled commercial banks (excluding Regional Rural Banks) and All India Financial Institutions, and omitting sub regulation (7); the Regulations take effect on publication in the Official Gazette.

Input tax credit apportionment to be determined by taxable versus exempt construction area for construction service supplies.
The Order directs that for services under paragraph 5(b) of Schedule II, the portion of input tax credit attributable to taxable supplies, including zero-rated and exempt supplies, shall be determined by reference to the area of the complex, building, civil structure or part thereof that is taxable versus the area that is exempt, providing an area-based method for pro rata allocation of credit.

Input tax credit allocation by area clarified for construction services; taxable, zero-rated and exempt portions determined by area.
The Order clarifies that for services under clause (b) of paragraph 5 of Schedule II relating to construction, the input tax credit attributable to taxable supplies, including zero-rated supplies, and to exempt supplies shall be determined by reference to the area of the complex, building or civil structure (or part thereof) that is taxable and the area that is exempt.

Input tax credit allocation for construction services clarified: apportion credit by taxable and exempt area including zero-rated supplies.
The portion of input tax credit attributable to taxable supplies, including zero-rated supplies and exempt supplies, shall be determined on the basis of the area of the construction of the complex, building, civil structure or part thereof which is taxable and the area which is exempt.

Input tax credit apportionment by area: construction-related services' credit split between taxable, zero-rated and exempt supplies.
Allocation of input tax credit for construction-related services under clause (b) of paragraph 5 of Schedule II is determined by reference to the area of the complex, building, civil structure or part thereof that is taxable versus the area that is exempt, and applies to taxable, including zero rated, and exempt supplies.

Input tax credit apportioned by area of construction between taxable, zero-rated and exempt supplies under GST clarification.
Clarifies input tax credit apportionment for construction-related services under Schedule II: credit attributable to taxable (including zero-rated) and exempt supplies must be determined by reference to the area of the complex, building, civil structure or part that is taxable versus exempt.

Input tax credit apportionment based on construction area for taxable, zero-rated and exempt supplies clarified.
For services covered by clause (b) of paragraph 5 of Schedule II, the input tax credit attributable to taxable supplies-including zero-rated and exempt supplies-shall be determined on the basis of the area of the complex, building, civil structure or part thereof which is taxable compared to the area which is exempt.

Input tax credit apportionment by construction area determines taxable and exempt credit allocation under GST rules.
The Order clarifies that for services under paragraph 5(b) of Schedule II (construction services), input tax credit attributable to taxable supplies, including zero-rated and exempt supplies, must be apportioned based on the area of the complex, building, civil structure or part thereof that is taxable versus exempt.

Input tax credit apportionment based on taxable versus exempt construction area, guiding GST credit allocation for construction services.
For construction-related services covered by the relevant entry in the Act, the amount of input tax credit attributable to taxable supplies, including zero rated and exempt supplies, shall be determined by reference to the area of the construction, complex, building, civil structure or part thereof that is taxable and the area that is exempt.

Input tax credit apportionment based on taxable versus exempt area determines credit allocation for construction services under the relevant schedule.
For services under item (b) of paragraph 5 of Schedule II, input tax credit attributable to taxable (including zero-rated) and exempt supplies shall be determined by reference to the area of the construction, building, civil structure or part thereof that is taxable versus the area that is exempt.