Input tax credit adjustment required when a registered person opts composition-style taxation; unpaid credit balance lapses after prescribed ledger payment.
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 credit on inputs in stock, inputs in semi-finished or finished goods in stock, and capital goods, treating the supply as attracting the reversal provision; after such payment any remaining input tax credit balance in the electronic credit ledger shall lapse. Procedural rules applicable to persons paying tax under the composition scheme shall, mutatis mutandis, apply to persons paying tax under this notification.

Reverse charge on supplies to promoters applies to unregistered suppliers of specified construction goods for real estate projects.
A new rate schedule entry applies the reverse charge to supplies of goods (excluding capital goods and cement under the specified tariff heading) made by unregistered persons to promoters for construction projects, rendering the promoter liable to pay State tax; definitions of "promoter", "project", "Real Estate Project", and "Residential Real Estate Project" (with a carpet area threshold for commercial apartments) are provided and the entry overrides more specific tariff classifications where goods satisfy the stated conditions.

Reverse charge on promoters for unregistered-supplier supplies in real estate projects, covering shortfall purchases, cement and capital goods.
The notification imposes the reverse charge obligation on a registered promoter to pay tax for supplies received from unregistered suppliers where such supplies comprise: the shortfall from the promoter's prescribed minimum purchases for construction, cement falling under chapter 2523 constituting that shortfall, and capital goods supplied for construction on which tax is payable at the prescribed project rates; it also defines promoter, project, RREP and FSI for application.

Tax liability on development rights arises on issuance of completion certificate or on first occupation.
Notification designates promoters as liable for State tax where consideration for development rights or FSI, or for long-term land lease, is paid in construction services or upfront monetary amounts, and provides that liability for tax on such consideration or on construction services supplied against development rights or FSI arises on the date of issuance of the completion certificate for the project or on its first occupation, whichever is earlier; it treats specified services as payable under the reverse charge mechanism and adopts statutory definitions for apartment, promoter, REP and RREP.

Reverse Charge Mechanism for real estate services expanded to include development rights transfers and long term land leases to promoters.
Amendment expands the scope of services taxable under the Reverse Charge Mechanism to include transfers of development rights or Floor Space Index (including additional FSI) supplied for construction of a project by a promoter, and long term leases of land (30 years or more) where consideration is received as upfront amounts and/or periodic rent for construction of a project by a promoter; it adds explanatory definitions for apartment, promoter, project, Real Estate Project, Residential Real Estate Project, and floor space index (FSI).

GST exemption for development rights and lease premiums with promoter reverse charge for unbooked residential units at completion.
The notification exempts GST on services by way of transfer of development rights or FSI and on upfront amounts for long term leases used for construction of residential apartments, apportioned by carpet area between residential and commercial components. Promoters must pay tax on a reverse charge basis for proportions attributable to residential apartments that remain un booked at completion or first occupation, with liability timed to completion/first occupation and subject to capped percentages for affordable and other residential apartments. Deemed valuation rules and defined terms are prescribed.

Goods and Services Tax on real estate construction: revised state-tax rates and ITC transition rules for promoters.
Amendments restructure State-tax rates and conditions for construction services in REP and RREP, specifying reduced cash-paid rates for affordable apartments and higher rates for other categories, with an option for ongoing projects to elect higher rates. They restrict ITC availability except as permitted in Annexures I and II, prescribe project-wise transitional ITC adjustment (Tx = T - Te) using area, booking, invoicing and completion factors, impose an 80% registered-supplier procurement threshold with reverse-charge on shortfalls and cement from unregistered suppliers, and set compliance, reporting and one-time option procedures, effective 1 April 2019.

Transfer of development rights and long-term land lease classified as taxable services when supplied for construction to a promoter.
Inserts two new taxable service entries: services by any person transferring development rights or Floor Space Index (FSI), including additional FSI, for construction of a project by a promoter; and long term lease of land by any person for construction of a project by a promoter against upfront consideration and/or periodic rent. Adds definitions aligning "apartment", "promoter", "Real Estate Project (REP)", "Residential Real Estate Project (RREP)" and "floor space index (FSI)" with the Real Estate (Regulation and Development) Act, and defines RREP by commercial carpet area limits.

Taxability of development rights and long-term land leases clarified, bringing such supplies under state GST for promoter-led projects.
Inserts two taxable entries: supply of transfer of development rights or FSI to a promoter for construction of a project, and long term lease of land for construction of a project against upfront consideration and/or periodic rent. Adds definitions for apartment, promoter, project (REP or RREP), REP, RREP and floor space index (FSI), including a threshold rule distinguishing residential projects. Effective from the commencement date specified in the amendment.

GST exemption for development rights and FSI with reverse-charge tax for unbooked residential units.
Grants exemption for services by way of transfer of development rights or FSI and upfront amounts for long term leases used for construction of residential apartments, calculated pro rata by (carpet area of residential apartments / total carpet area of residential and commercial apartments). Promoters must pay tax on the proportion attributable to apartments un booked by completion or first occupation, with liability arising on completion or first occupation. Deemed valuation rules for TDR/FSI and un booked apartments and definitions for apartment, promoter, project, RREP, carpet area and FSI are specified.

Input tax credit adjustment: payment required when opting composition scheme; remaining credit to lapse under Goa GST rules.
Registered persons who 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 equal to input tax credit on inputs in stock, inputs in semi finished or finished goods in stock, and on capital goods as if section 18(4) applied; after such payment any balance of input tax credit in the electronic credit ledger shall lapse. The Goa GST Rules applicable to persons under section 10 apply mutatis mutandis to persons paying under this notification.

Reverse charge on supplies to promoters: unregistered suppliers' goods to project promoters taxed with promoter as recipient.
Entry 452Q provides that supplies of any goods, other than capital goods and cement under the specified chapter heading, by an unregistered person to a promoter for construction of a project are taxable with the promoter liable to pay tax as the recipient under the reverse charge mechanism. Definitions adopt the meanings of promoter, Real Estate Project (REP) and Residential Real Estate Project (RREP) from the Real Estate (Regulation and Development) Act, and the entry applies to all goods meeting these conditions. The amendment is effective from 1 April 2019.

Reverse charge on promoter liability: promoters must pay GST on specified shortfall supplies and related cement and capital goods.
Notification applies the reverse charge mechanism under section 9(4) to make promoters liable to pay GST on supplies from unregistered suppliers that constitute the shortfall from prescribed minimum procurements for a project, on cement constituting such shortfall, and on capital goods supplied to a promoter for construction of a project taxed at prescribed rates; key terms such as promoter, project, Residential Real Estate Project and floor space index are defined, and the notification takes effect from 1 April 2019.

Liability to pay central tax arises on completion certificate or first occupation for promoters receiving development rights or land lease.
Notification under section 148 designates promoters receiving development rights/FSI or obtaining long term land lease as persons in whose case liability to pay central tax for consideration in the form of construction services, monetary consideration for residential construction, upfront lease amounts, and supply of construction service against development rights/FSI shall arise on the date of issuance of the completion certificate or on first occupation, whichever is earlier, with relevant terms defined by reference to the Real Estate (Regulation and Development) Act, 2016.

Transfer of development rights and long-term land leases as services to promoters, affecting GST treatment from notified effective date.
Amendment adds entries treating transfer of development rights or FSI and long term leases of land (with upfront consideration and/or periodic rent) supplied for construction of a project by a promoter as services supplied by any person to a promoter. It further inserts definitions for apartment, promoter, project, REP, RREP and floor space index (FSI) aligned to the Real Estate (Regulation and Development) Act; the notification is effective from the notified date in April, 2019.

GST exemption for TDR/FSI and long term lease premiums with reverse charge on unbooked residential units and capped liability.
Inserts exemptions for GST on TDR/FSI transfers and upfront long term lease payments when used for construction of residential apartments intended for sale, with exemption apportioned by residential carpet area. Promoters must pay tax on reverse charge for residential apartments remaining un booked at completion or first occupation, calculated by apportioning hypothetical GST and capped at specified percentages for affordable and non affordable apartments. Deeming rules fix values for transfers and un booked units and statutory definitions for apartment, promoter, project, carpet area and FSI are added. Effective 1 April 2019.

Real estate construction rules: Goa prescribes new GST rates, ITC apportionment, 80% registered supplier threshold and reverse charge duties.
Amendment prescribes distinct State tax rates and compliance for construction and composite works contracts in REP/RREP effective 1 April 2019, including cash only payment of specified State tax, 80% procurement from registered suppliers threshold with reverse charge on shortfall (and on cement from unregistered persons), project wise ITC apportionment and repayment rules set out in Annexures I and II, a one time option for ongoing projects to elect alternate tax rates by prescribed form, and detailed definitions and valuation rules for transfers of development rights or FSI.

Real estate GST: new itemised tax rates, ITC allocation formulas, and reverse charge rules for construction services.
Amendment prescribes new itemised GST treatment for construction services in REPs/RREPs effective 1 April 2019: separate categories for affordable and other residential and commercial apartments; timing and valuation of supply tied to completion certificate or first occupation; central tax to be paid in cash at prescribed rates where applicable; inclusion of supplies from unregistered persons to promoters under reverse charge; an 80% registered supplier procurement threshold with reverse charge consequences for shortfalls and cement; project wise ITC allocation rules and formulae (Tx = T - Te) in Annexures; and a one time option form to elect alternate central tax rates by 10 May 2019.

Fixation of tariff values sets declared customs values for edible oils, metals and select agricultural commodities under Customs Act.
The Central Board of Indirect Taxes & Customs amends the principal customs notification by substituting TABLE-1, TABLE-2 and TABLE-3 to fix declared tariff value rates for specified imports. Revised values are prescribed for edible oils (crude, RBD and others), palmolein, crude soybean oil, brass scrap, poppy seeds, areca nuts, and unit tariff values for gold and silver where certain notification entries are availed, thereby establishing the reference customs valuation for those tariff items.

Real estate input tax apportionment restructured to require project wise ITC finalisation, reversal and reporting in specified forms.
The amendment clarifies that "value of assets" includes all business assets irrespective of ITC availed and revises Rules 42 and 43 to require project level calculation and finalisation of input tax credit for construction services. It prescribes E/F and related area based apportionment formulas, separate computation across tax heads, rules for transition adjustments, assignment of shared inputs and capital goods across projects, reversal or claim procedures through specified returns or recovery forms with interest, and links definitions to the Real Estate (Regulation and Development) Act.