https://www.taxtmi.com/forum/issue?id=117895 GST under the Reverse Charge Mechanism applies to development rights allotted to land owners; the developer must discharge tax on the allotted share by adopting the first-sale value near the joint development arrangement, with liability arising on completion or first occupation. The notification's valuation explanation (1B) determines values for unbooked units but does not create exemptions. Exemption for development rights is limited to residential units in qualifying residential projects; commercial units remain taxable. Input tax credit on GST paid under RCM is available only to the extent flats are sold prior to completion. en-us Wed, 06 Apr 2022 11:51:32 +0530 Thu, 23 Jan 2025 15:54:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=117895 GST under the Reverse Charge Mechanism applies to development rights allotted to land owners; the developer must discharge tax on the allotted share by adopting the first-sale value near the joint development arrangement, with liability arising on completion or first occupation. The notification's valuation explanation (1B) determines values for unbooked units but does not create exemptions. Exemption for development rights is limited to residential units in qualifying residential projects; commercial units remain taxable. Input tax credit on GST paid under RCM is available only to the extent flats are sold prior to completion. Discussion-Forum GST Wed, 06 Apr 2022 11:51:32 +0530 https://www.taxtmi.com/forum/issue?id=117895