To notify certain class of persons by exercising powers conferred under section 148 of Jammu and Kashmir Goods and Services Tax Act, 2017

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....RO-295.--In exercise of the powers conferred by section 148 of the Jammu and Kashmir Goods and Services Tax Act, 2017 (Act No. V of 2017), the State Government on the recommendations of the Council, hereby notifies the following classes of registered persons, namely :- (i) a promoter who receives development rights or Floor Space Index (FSI) (including additional FSI) on or after 1st Apri....

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....uding additional FSI) ; (b) the monetary consideration paid by him, for supply of development rights or FSI (inciuding additional FSI) relatable to construction of residential apartments in project ; (c) the upfront amount (called as premium, salami, cost, price, development charges or by any other name) paid by him for long term lease of land relatable to construction of residen....

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....e term "project" shall mean a Real Estate Project (REP) or a Residential Real Estate Project (RREP) ; (iv) the term "Real Estate Project (REP)" shall have the same meaning as assigned to it in in clause (zn) of section 2 of the Real Estate (Regulation and Development Act, 2016 (16 of 2016) ; (v) the term "Residential Real Estate Project (RREP)" shall mean a REP in which the carpe....