https://www.taxtmi.com/circulars?id=68176 Revisions to GST for real estate effective 1 April 2019 prescribe differentiated effective rates for residential construction after deduction of land, define affordable residential apartment by carpet area and price ceiling, and permit promoters of ongoing projects a one time, project wise option to remain under pre existing rates with input tax credit if exercised by the specified deadline. The FAQs set out the detailed definition of an ongoing project, procurement thresholds from registered suppliers with reverse charge for shortfalls, valuation abatement rules, timing and reverse charge obligations for TDR/FSI/long term leases, and compliance requirements including project wise accounting and invoice adjustment mechanisms; new projects commencing on or after 1 April 2019 must apply the new regime without option. en-us Tue, 07 May 2019 00:00:00 +0530 Tue, 04 Mar 2025 10:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=68176 Revisions to GST for real estate effective 1 April 2019 prescribe differentiated effective rates for residential construction after deduction of land, define affordable residential apartment by carpet area and price ceiling, and permit promoters of ongoing projects a one time, project wise option to remain under pre existing rates with input tax credit if exercised by the specified deadline. The FAQs set out the detailed definition of an ongoing project, procurement thresholds from registered suppliers with reverse charge for shortfalls, valuation abatement rules, timing and reverse charge obligations for TDR/FSI/long term leases, and compliance requirements including project wise accounting and invoice adjustment mechanisms; new projects commencing on or after 1 April 2019 must apply the new regime without option. Circulars GST Tue, 07 May 2019 00:00:00 +0530 https://www.taxtmi.com/circulars?id=68176