https://www.taxtmi.com/notifications?id=129172 Amendment exempts GST on transfer of development rights (TDR)/FSI and on upfront amounts for long term land leases when used for construction of residential apartments for sale, with the exemptible amount apportionable by carpet area ratio. Promoters must discharge reverse charge tax on the proportion attributable to residential apartments that remain un booked at completion or first occupation, calculated by prescribed formulas and subject to caps for affordable and other apartments. Valuation rules deem TDR/FSI and un booked apartments equal to comparable apartment prices nearest the relevant date, and statutory definitions align with the Real Estate (Regulation and Development) Act. en-us Fri, 29 Mar 2019 00:00:00 +0530 Mon, 01 Apr 2019 11:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=129172 Amendment exempts GST on transfer of development rights (TDR)/FSI and on upfront amounts for long term land leases when used for construction of residential apartments for sale, with the exemptible amount apportionable by carpet area ratio. Promoters must discharge reverse charge tax on the proportion attributable to residential apartments that remain un booked at completion or first occupation, calculated by prescribed formulas and subject to caps for affordable and other apartments. Valuation rules deem TDR/FSI and un booked apartments equal to comparable apartment prices nearest the relevant date, and statutory definitions align with the Real Estate (Regulation and Development) Act. Notifications GST Fri, 29 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/notifications?id=129172