https://www.taxtmi.com/notifications?id=129865 Amendments create a GST exemption for TDR/FSI transfers and upfront long term lease payments used for construction of residential apartments intended for sale, with exemption apportioned by residential carpet area; promoters must pay tax on un booked apartments on reverse charge at completion or first occupation, subject to specified caps. Deemed valuation rules equate in kind consideration and un booked apartment values to the promoter's prevailing prices for similar apartments near the relevant date. Defined terms align with the Real Estate regulatory definitions and conditions for a booked apartment are prescribed. en-us Fri, 29 Mar 2019 00:00:00 +0530 Fri, 24 May 2019 13:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=129865 Amendments create a GST exemption for TDR/FSI transfers and upfront long term lease payments used for construction of residential apartments intended for sale, with exemption apportioned by residential carpet area; promoters must pay tax on un booked apartments on reverse charge at completion or first occupation, subject to specified caps. Deemed valuation rules equate in kind consideration and un booked apartment values to the promoter's prevailing prices for similar apartments near the relevant date. Defined terms align with the Real Estate regulatory definitions and conditions for a booked apartment are prescribed. Notifications GST - States Fri, 29 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/notifications?id=129865