https://www.taxtmi.com/notifications?id=129925 The amendment provides GST exemption on transfer of development rights/FSI and upfront amounts for long term leases for construction of residential apartments from 1 April 2019, calculated by pro rata carpet area share; promoters must pay tax on unsold residential portions on a reverse charge basis using a pro rata formula capped by specified percentages, with tax liability arising on issuance of completion certificate or on first occupation. Deeming rules fix value of TDR/FSI and unsold portions by reference to prices of similar apartments; key definitions are aligned to the Real Estate (Regulation and Development) Act. en-us Wed, 01 May 2019 00:00:00 +0530 Sat, 01 Jun 2019 13:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=129925 The amendment provides GST exemption on transfer of development rights/FSI and upfront amounts for long term leases for construction of residential apartments from 1 April 2019, calculated by pro rata carpet area share; promoters must pay tax on unsold residential portions on a reverse charge basis using a pro rata formula capped by specified percentages, with tax liability arising on issuance of completion certificate or on first occupation. Deeming rules fix value of TDR/FSI and unsold portions by reference to prices of similar apartments; key definitions are aligned to the Real Estate (Regulation and Development) Act. Notifications GST - States Wed, 01 May 2019 00:00:00 +0530 https://www.taxtmi.com/notifications?id=129925