https://www.taxtmi.com/notifications?id=129390 The notification amends State GST rules to exempt GST on transfer of development rights (TDR)/FSI and on upfront lease premiums used for construction of residential apartments, with the exemption apportioned by carpet area. Promoters must pay tax on a reverse charge basis for proportions attributable to un-booked residential apartments on completion certificate issuance or first occupation, subject to prescribed caps. Deemed valuation rules equate consideration for TDR/FSI or un-booked apartments to comparable apartment values charged by the promoter near the relevant dates, and defined terms from real estate law are incorporated. en-us Sat, 30 Mar 2019 00:00:00 +0530 Mon, 15 Apr 2019 18:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=129390 The notification amends State GST rules to exempt GST on transfer of development rights (TDR)/FSI and on upfront lease premiums used for construction of residential apartments, with the exemption apportioned by carpet area. Promoters must pay tax on a reverse charge basis for proportions attributable to un-booked residential apartments on completion certificate issuance or first occupation, subject to prescribed caps. Deemed valuation rules equate consideration for TDR/FSI or un-booked apartments to comparable apartment values charged by the promoter near the relevant dates, and defined terms from real estate law are incorporated. Notifications GST - States Sat, 30 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/notifications?id=129390