https://www.taxtmi.com/notifications?id=129932 The amendment adds exemptions from state GST for services by way of transfer of development rights or FSI and for upfront amounts for long term land lease where used for construction of residential apartments intended for sale, with the exempt amount apportioned by the ratio of residential carpet area to total project carpet area. Promoters remain liable on reverse charge for proportions attributable to residential apartments that remain un-booked at completion or first occupation, subject to capped rates, and the liability arises on completion or first occupation. Deemed valuation and defined terms for apartment, promoter, project and carpet area are prescribed. en-us Fri, 17 May 2019 00:00:00 +0530 Mon, 03 Jun 2019 16:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=129932 The amendment adds exemptions from state GST for services by way of transfer of development rights or FSI and for upfront amounts for long term land lease where used for construction of residential apartments intended for sale, with the exempt amount apportioned by the ratio of residential carpet area to total project carpet area. Promoters remain liable on reverse charge for proportions attributable to residential apartments that remain un-booked at completion or first occupation, subject to capped rates, and the liability arises on completion or first occupation. Deemed valuation and defined terms for apartment, promoter, project and carpet area are prescribed. Notifications GST - States Fri, 17 May 2019 00:00:00 +0530 https://www.taxtmi.com/notifications?id=129932