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    <title>CERTAIN AMENDMENTS TO THE NOTIFICATION ISSUED IN G.O.MS.NO.588, REVENUE (CT.II) DEPARTMENT, DATED: 12.12.2017 RELATED TO SERVICES OF NIL RATE OF TAX.</title>
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    <description>Services by way of transfer of development rights (TDR) or Floor Space Index (FSI), and upfront amounts for long term land leases used for construction of residential apartments, receive an exemption calculated pro rata by carpet area; promoters must pay tax on the proportion attributable to residential apartments that remain un booked at completion or first occupation on reverse charge, subject to caps for affordable and other apartments, with deemed valuation rules tying values to similar apartments and added definitions including apartment, promoter, project, carpet area and FSI.</description>
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      <description>Services by way of transfer of development rights (TDR) or Floor Space Index (FSI), and upfront amounts for long term land leases used for construction of residential apartments, receive an exemption calculated pro rata by carpet area; promoters must pay tax on the proportion attributable to residential apartments that remain un booked at completion or first occupation on reverse charge, subject to caps for affordable and other apartments, with deemed valuation rules tying values to similar apartments and added definitions including apartment, promoter, project, carpet area and FSI.</description>
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