https://www.taxtmi.com/circulars?id=65125 The Council implemented the 33rd Meeting decisions for Real Estate: effective GST at 1% (affordable) and 5% (other than affordable) without ITC; definitions from RERA; 80% procurement from registered suppliers or tax on shortfall under RCM (cement at higher RCM); creation of related 18%/18% entries for unregistered supplies to promoters; RCM and timing shifts for TDR/FSI/long term lease; amendments to ITC apportionment rules; transitional pro rata ITC formula for ongoing projects; one time option for ongoing projects to remain under old rates; and notifications effective 1 April 2019 subject to legal vetting. en-us Tue, 19 Mar 2019 00:00:00 +0530 Wed, 06 Oct 2021 16:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=65125 The Council implemented the 33rd Meeting decisions for Real Estate: effective GST at 1% (affordable) and 5% (other than affordable) without ITC; definitions from RERA; 80% procurement from registered suppliers or tax on shortfall under RCM (cement at higher RCM); creation of related 18%/18% entries for unregistered supplies to promoters; RCM and timing shifts for TDR/FSI/long term lease; amendments to ITC apportionment rules; transitional pro rata ITC formula for ongoing projects; one time option for ongoing projects to remain under old rates; and notifications effective 1 April 2019 subject to legal vetting. Circulars GST Tue, 19 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/circulars?id=65125