https://www.taxtmi.com/notifications?id=129316 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. en-us Sat, 30 Mar 2019 00:00:00 +0530 Wed, 10 Apr 2019 16:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=129316 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. Notifications GST - States Sat, 30 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/notifications?id=129316