https://www.taxtmi.com/notifications?id=129236 Amendment inserts entries providing Nil GST for services by way of transfer of development rights or FSI and for upfront premiums for long term leases used for construction of residential apartments, with the exemption quantified by apportionment: [GST payable on TDR/FSI or upfront amount] x (carpet area of residential apartments / total carpet area). Promoters must pay tax on reverse charge for the proportion of value attributable to residential apartments remaining un booked on completion or first occupation, calculated by a similar carpet area apportionment and subject to prescribed caps. Deemed valuation rules require using promoter's nearest comparable prices and specified definitions govern applicability. en-us Fri, 29 Mar 2019 00:00:00 +0530 Wed, 03 Apr 2019 11:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=129236 Amendment inserts entries providing Nil GST for services by way of transfer of development rights or FSI and for upfront premiums for long term leases used for construction of residential apartments, with the exemption quantified by apportionment: [GST payable on TDR/FSI or upfront amount] x (carpet area of residential apartments / total carpet area). Promoters must pay tax on reverse charge for the proportion of value attributable to residential apartments remaining un booked on completion or first occupation, calculated by a similar carpet area apportionment and subject to prescribed caps. Deemed valuation rules require using promoter's nearest comparable prices and specified definitions govern applicability. Notifications GST - States Fri, 29 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/notifications?id=129236