Composition scheme: registered persons with input tax credit must reverse credit and pay equivalent amount when opting for composition.
Registered persons who have availed input tax credit and opt to pay tax under the notification must pay, by debit to the electronic credit or cash ledger, an amount equivalent to the input tax credit on inputs in stock, inputs in semi finished or finished goods in stock, and on capital goods as if the credit reversal provision applied; after payment any remaining input tax credit in the electronic credit ledger shall lapse. The Meghalaya GST Rules applicable to composition taxpayers shall apply mutatis mutandis to persons paying under this notification.

GST rate notification for supplies to promoters where promoter is recipient under law; tax applies to prescribed construction goods.
An amendment inserts an entry taxing supplies of construction-related goods by unregistered persons to promoters when the promoter is liable as recipient under the Meghalaya GST Act, excluding capital goods and cement under the referenced customs heading; it applies to all goods meeting the conditions even if covered elsewhere, defines promoter, project, REP and RREP by reference to the Real Estate (Regulation and Development) Act and links to the related State Tax rate notification, with the amendment effective from the notified commencement date.

Reverse charge on shortfall supplies and specified inputs shifts tax liability to promoters for unregistered suppliers.
The notification imposes tax liability on promoters under the reverse charge mechanism for supplies received from unregistered suppliers that constitute the shortfall from the minimum value of inputs required to be purchased for a project, specifically covering such shortfall supplies, cement falling under the relevant Customs Tariff chapter, and capital goods supplied for projects taxed at prescribed rates; definitions for promoter, REP, RREP and FSI are provided and the measure takes effect from 1 April 2019.

Reverse charge on development rights and upfront lease consideration shifts central tax liability to promoters upon completion or first occupation.
Notification designates promoters who acquire development rights/FSI or long term land leases for residential construction-whether paying by construction service, monetary consideration, or upfront premium-as the registered persons on whom central tax liability arises; that liability arises on the earlier of issuance of the completion certificate or first occupation. The notification adopts statutory definitions from the Real Estate (Regulation and Development) Act, defines FSI, and confirms taxability under the reverse charge mechanism consistent with a referenced prior notification.

Reverse charge mechanism: specified real estate supplies like transfer of development rights and long term leases taxed on recipient.
The amendment subjects specified real estate supplies to the reverse charge mechanism: transfer of development rights or FSI (including additional FSI) and long term leases of land (30 years or more) provided for construction of a project by a promoter where consideration is upfront and/or periodic rent. It adds definitions aligning GST terms with the Real Estate (Regulation and Development) Act for apartment, promoter, project (REP/RREP), REP, RREP and defines floor space index (FSI). The notification takes effect from April 2019.

GST exemption for development rights and long term lease premiums enables relief for residential construction, with reverse charge on unbooked units.
Amendments provide GST exemptions for transfer of development rights (TDR) or FSI and for upfront amounts for long term land leases used for construction of residential apartments intended for sale, with the exemption amount pro rata to the carpet area of residential apartments. Promoters must pay tax on the proportion attributable to residential apartments that remain un booked on issuance of completion certificate or first occupation on a reverse charge basis, subject to specified caps. Deemed value rules and definitions for apartment, promoter, project, REP, RREP, carpet area and FSI are prescribed; effective 1 April 2019.

Real estate sector: conditional GST rates and ITC rules tying lower tax treatment to option exercise, invoicing and supplier registration.
Prescribes differentiated State tax treatment and conditional lower tax rates for construction services in REPs and RREPs, links eligibility to timing of consideration and a one time option, and conditions input tax credit by an 80% registered supplier threshold with reverse charge on shortfalls and specific rules for cement from unregistered suppliers; Annexures provide formulae for apportioning and transitioning ITC using carpet area, booking, invoicing and completion factors.

Input tax credit adjustment: registered persons opting specified scheme must debit electronic ledgers for stock and capital goods, balance lapses.
Registered persons who have availed input tax credit and opt to pay tax under the notification must debit their electronic credit or cash ledger an amount equal to the input tax credit on inputs in stock, inputs in semi finished or finished goods held in stock, and on capital goods as if the reversal provision for unused input tax credit applied; after such debit any remaining input tax credit in the electronic credit ledger shall lapse.

Input tax credit adjustment when opting for composition triggers payment equivalent to stock credits and lapse of remaining credit.
Registered persons who have availed input tax credit and opt to pay tax under this notification must debit their electronic credit or cash ledger an amount equal to the credit on inputs in stock, inputs in semi finished or finished goods in stock, and on capital goods as if the law's credit reversal provision applies; after payment any remaining input tax credit in the electronic credit ledger shall lapse.

Input tax credit adjustment requires payment equivalent to credit when switching to composition and lapse of remaining credit.
Requires a registered person who availed input tax credit and opts for composition to debit the electronic credit or cash ledger an amount equivalent to credit attributable to inputs in stock, inputs in semi-finished or finished goods in stock, and capital goods, treating the supply as triggering reversal of input tax credit, and any remaining input tax credit balance in the electronic credit ledger shall lapse; CGST Rules for composition shall apply mutatis mutandis.

Reverse charge on supplies to promoters for real estate projects makes promoters liable for GST on such unregistered supplies.
A new Schedule III entry subjects supplies of any goods (excluding capital goods and cement under the specified customs chapter) by unregistered persons to a promoter to tax payable by the promoter under the reverse charge mechanism; definitions adopt RERA meanings for promoter, Real Estate Project (REP), and Residential Real Estate Project (RREP), with RREP limited by commercial carpet area, and the entry applies to all goods meeting these conditions even if covered by a more specific tariff heading.

Reverse charge on supplies to promoters by unregistered persons; promoter bears tax liability under prescribed conditions.
Inserts 9% State Tax entry 452Q treating supplies of goods (other than capital goods and cement under chapter heading 2523) by an unregistered person to a promoter for construction of a real estate project as taxable with tax payable by the promoter under the reverse charge mechanism, and defines promoter, project, REP and RREP; the entry applies to all goods meeting these conditions even if covered elsewhere.

Reverse charge mechanism requires promoters to pay tax on specified shortfall supplies received from unregistered suppliers.
Notification imposes reverse charge liability on promoters to pay tax for supplies received from unregistered suppliers that constitute the shortfall from the minimum prescribed purchases for a project, including specified goods and services, cement, and capital goods supplied for construction, with application limited to the financial year (or part year) until completion certificate or first occupation and reference to the applicable State tax rate notification.

Reverse charge on promoters for shortfall purchases in real estate projects makes promoters liable to pay GST received from unregistered suppliers.
Notification imposes reverse charge liability on a registered promoter to pay tax for supplies received from unregistered suppliers that constitute the shortfall from minimum purchases required for a real estate project (or until completion/first occupation), specifically covering certain goods and services, cement under chapter 2523, and capital goods supplied for construction where tax is payable at prescribed real estate rates.

Tax liability on development rights and FSI accrues at completion certificate issuance or first occupation under reverse charge.
Notification designates promoters receiving development rights or FSI, or long term lease of land for residential construction on or after 1 April 2019, as liable for State tax. Tax liability on consideration in the form of construction services, monetary consideration, upfront lease amounts (premium, salami, cost, price, development charges or otherwise), and supplies of construction service against development rights/FSI arises on issuance of the completion certificate where required or on first occupation, whichever is earlier.

Liability to pay central tax on promoters receiving development rights or long leases arises on completion or first occupation.
Notification under section 148 notifies promoters who receive development rights or FSI, or long term leases for residential construction, as persons in whose case liability to pay central tax arises on consideration paid in the form of construction services, monetary consideration for development rights or FSI, and upfront amounts for long term leases. The tax liability is triggered on issuance of the completion certificate where required or on first occupation, whichever is earlier. Key terms follow definitions in the Real Estate (Regulation and Development) Act; FSI and RREP are specifically defined and the reverse charge mechanism under an earlier notification is affirmed.

Rebate on State and Central Taxes and Levies incorporated into Foreign Trade Policy, enabling DGFT to implement RoSCTL scheme.
A new sub paragraph is inserted into para 4.01 of the Foreign Trade Policy to incorporate the Scheme for Rebate on State and Central Taxes and Levies (RoSCTL), as notified by the Ministry of Textiles, and to provide for its implementation by the Directorate General of Foreign Trade with immediate effect.

Transport and Marketing Assistance for agricultural exports incorporated into the Foreign Trade Policy, assistance available under Handbook procedure.
Addition of Chapter 7(A) to the Foreign Trade Policy incorporates the Transport and Marketing Assistance (TMA) for Specified Agriculture Products scheme, making TMA available for export of specified agricultural products to specified destinations as per Department of Commerce Notification No. 17/3/2018-EP (Agri.IV) dated 27.2.2019, and directing that procedural access is governed by Chapter 7(A) of the Handbook of Procedures, 2015-20.

Input tax credit apportionment by area for mixed taxable and exempt construction services clarified under GST.
For construction-related services covered by the specified clause 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 complex, building, civil structure or part thereof that is taxable compared with the area that is exempt, thereby allocating credit proportionately between taxable and exempt areas.

Input tax credit allocation for real estate construction now requires project level carpet area ratios and specified credit reversals.
Amendments revise valuation and input tax credit rules for real estate construction services by requiring project level calculation of the E/F ratio using defined carpet area metrics, finalisation of common input and capital goods credits per project with specified aggregation and months used formulas, separate computation and declaration of credit components by tax type, assignment of credit where inputs or capital goods span multiple projects, interest and reversal timelines, and substitution of assessment and demand forms with mandatory electronic summaries.