https://www.taxtmi.com/notifications?id=129395 The amendment exempts State GST for transfer of development rights/FSI and upfront long term lease payments for construction of residential apartments from 1 April 2019, calculated by apportioning GST payable on those inputs to the residential carpet area share of the project. Promoters must pay tax on the proportion attributable to residential apartments that remain un booked on completion or first occupation on reverse charge basis, subject to statutory caps; liability arises on completion or first occupation. Deemed valuation and defined terms for apartment, promoter, carpet area, REP/RREP and FSI are prescribed. en-us Sat, 30 Mar 2019 00:00:00 +0530 Tue, 16 Apr 2019 12:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=129395 The amendment exempts State GST for transfer of development rights/FSI and upfront long term lease payments for construction of residential apartments from 1 April 2019, calculated by apportioning GST payable on those inputs to the residential carpet area share of the project. Promoters must pay tax on the proportion attributable to residential apartments that remain un booked on completion or first occupation on reverse charge basis, subject to statutory caps; liability arises on completion or first occupation. Deemed valuation and defined terms for apartment, promoter, carpet area, REP/RREP and FSI are prescribed. Notifications GST - States Sat, 30 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/notifications?id=129395