https://www.taxtmi.com/notifications?id=129626 Notification inserts entries 41A and 41B exempting GST on transfer of development rights/FSI and upfront long term lease consideration used for construction of residential apartments, with exemption apportioned by carpet area. Promoter must pay tax on reverse charge basis for the proportion of residential apartments remaining un booked at completion or first occupation, subject to prescribed caps; liability arises on the date of completion or first occupation. Deemed valuation rules equate in kind consideration and un booked apartment value to promoter's prevailing sale prices; key terms are defined or cross referenced to RERA. en-us Mon, 06 May 2019 00:00:00 +0530 Thu, 09 May 2019 12:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=129626 Notification inserts entries 41A and 41B exempting GST on transfer of development rights/FSI and upfront long term lease consideration used for construction of residential apartments, with exemption apportioned by carpet area. Promoter must pay tax on reverse charge basis for the proportion of residential apartments remaining un booked at completion or first occupation, subject to prescribed caps; liability arises on the date of completion or first occupation. Deemed valuation rules equate in kind consideration and un booked apartment value to promoter's prevailing sale prices; key terms are defined or cross referenced to RERA. Notifications GST - States Mon, 06 May 2019 00:00:00 +0530 https://www.taxtmi.com/notifications?id=129626