https://www.taxtmi.com/news?id=21313 The FAQs implement a revised GST rate structure for real estate from 01 04 2019: concessional single rate schemes without ITC for defined affordable and residential categories, mandatory application to new projects, and a one time project wise option for ongoing projects to continue under old rates with ITC. Definitions of ongoing project and affordable apartment, procurement thresholds from registered suppliers, reverse charge rules for TDR/FSI/long term leases, timing of tax liabilities, required project wise accounting, ITC reversal/reporting, and procedures for invoice adjustment and credit notes are set out to govern compliance and transitional treatment. en-us Wed, 15 May 2019 12:41:47 +0530 Wed, 15 May 2019 13:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=21313 The FAQs implement a revised GST rate structure for real estate from 01 04 2019: concessional single rate schemes without ITC for defined affordable and residential categories, mandatory application to new projects, and a one time project wise option for ongoing projects to continue under old rates with ITC. Definitions of ongoing project and affordable apartment, procurement thresholds from registered suppliers, reverse charge rules for TDR/FSI/long term leases, timing of tax liabilities, required project wise accounting, ITC reversal/reporting, and procedures for invoice adjustment and credit notes are set out to govern compliance and transitional treatment. News - Wed, 15 May 2019 12:41:47 +0530 https://www.taxtmi.com/news?id=21313