https://www.taxtmi.com/notifications?id=137762 The amendment adds GST exemption entries for transfer of development rights/FSI and upfront long term lease amounts used for construction of residential apartments, with exemption apportioned by carpet area of residential apartments relative to total project carpet area. Promoters bear reverse charge tax on the proportion attributable to un booked residential apartments on completion or first occupation, capped at 0.5% for affordable units and 2.5% for other units. Valuation of transferred rights and un booked apartments is deemed equal to similar apartments charged by the promoter nearest the relevant date. Definitions for key terms and project scope are specified. en-us Sat, 30 Mar 2019 00:00:00 +0530 Tue, 01 Mar 2022 17:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=137762 The amendment adds GST exemption entries for transfer of development rights/FSI and upfront long term lease amounts used for construction of residential apartments, with exemption apportioned by carpet area of residential apartments relative to total project carpet area. Promoters bear reverse charge tax on the proportion attributable to un booked residential apartments on completion or first occupation, capped at 0.5% for affordable units and 2.5% for other units. Valuation of transferred rights and un booked apartments is deemed equal to similar apartments charged by the promoter nearest the relevant date. Definitions for key terms and project scope are specified. Notifications GST - States Sat, 30 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/notifications?id=137762