https://www.taxtmi.com/notifications?id=130171 Amendment grants a GST exemption for transfer of development rights (TDR)/FSI and upfront long term lease amounts used for construction of residential apartments for sale, calculated by applying the ratio of residential carpet area to total carpet area. Promoters must pay tax on the proportion attributable to residential apartments that remain un booked at completion or first occupation on a reverse charge basis, with tax computed by a specified formula and subject to prescribed caps. Valuation of TDR/FSI transfers and un booked units is to be deemed equal to the promoter's nearest comparable apartment values. en-us Thu, 06 Jun 2019 00:00:00 +0530 Wed, 10 Jul 2019 18:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=130171 Amendment grants a GST exemption for transfer of development rights (TDR)/FSI and upfront long term lease amounts used for construction of residential apartments for sale, calculated by applying the ratio of residential carpet area to total carpet area. Promoters must pay tax on the proportion attributable to residential apartments that remain un booked at completion or first occupation on a reverse charge basis, with tax computed by a specified formula and subject to prescribed caps. Valuation of TDR/FSI transfers and un booked units is to be deemed equal to the promoter's nearest comparable apartment values. Notifications GST - States Thu, 06 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/notifications?id=130171