https://www.taxtmi.com/article/detailed?id=9298 The revised GST framework distinguishes rates for affordable, non affordable residential and qualifying commercial apartments, disallows input tax credit for supplies under the new scheme, and requires developers to opt to retain the old scheme if desired. Liability for tax on development rights depends on timing of joint development and sale agreements with supplies intended for sale generally subject to reverse charge; time of supply follows percentage completion or occupancy/completion certificate, and valuation is determined by the prescribed deeming method tied to the date development rights were transferred. en-us Fri, 26 Jun 2020 09:00:36 +0530 Fri, 26 Jun 2020 09:00:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9298 The revised GST framework distinguishes rates for affordable, non affordable residential and qualifying commercial apartments, disallows input tax credit for supplies under the new scheme, and requires developers to opt to retain the old scheme if desired. Liability for tax on development rights depends on timing of joint development and sale agreements with supplies intended for sale generally subject to reverse charge; time of supply follows percentage completion or occupancy/completion certificate, and valuation is determined by the prescribed deeming method tied to the date development rights were transferred. Articles Goods and Services Tax - GST Fri, 26 Jun 2020 09:00:36 +0530 https://www.taxtmi.com/article/detailed?id=9298