Seeks to amend Notification No. 12/2017- State Tax (Rate), dated the 30th June, 2017

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...., in the Department of Finance (Revenue-I), No.12/2017- State Tax (Rate), dated the 30th June, 2017, published in the Gazette of Delhi, Extraordinary, Part IV, vide number No. F.3 (15 )/Fin (Rev-I)/2017-18/DS-VI/ 380, dated the 30th June, 2017, namely:- In the said notification, - (i) in the opening paragraph, for the word, brackets and figures "sub-section (1) of section 11" the word, brackets and figures, " sub-section (3) and sub-section (4) of section 9, sub-section (1) of section 11,sub-section (5) of section 15 and section 148," shall be substituted; (ii) in the Table, - (a) after serial number 41 and the entries relating thereto, the following serial numbers and entries shall be inserted, namely: - (1) (2) (3) ....

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....on contained herein] x (carpet area of the residential apartments in the project which remain un- booked on the date of issuance of completion certificate or first occupation / Total carpet area of the residential apartments in the project) Provided further that tax payable in terms of the first proviso hereinabove shall not exceed 0.5 per cent. of the value in case of affordable residential apartments and 2.5 per cent. of the value in case of residential apartments other than affordable residential apartments remaining un- booked on the date of issuance of completion certificate or first occupation The liability to pay state tax on the said portion of the development rights ....

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.... land, as is attributable to the residential apartments, which remain un- booked on the date of issuance of completion certificate, or first occupation of the project, as the case may be, in the following manner - [GST payable on upfront amount (called as premium, salami, cost, price, development charges or by any other name) payable for long term lease of land for construction of the residential apartments in the project but for the exemption contained herein] x (carpet area of the residential apartments in the project which remain un- booked on the date of issuance of completion certificate or first occupation / Total carpet area of the residential apartments in the proje....

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....arest to the date of issuance of completion certificate or first occupation, as the case may be." (iv) in paragraph 3 relating to Explanation, after clause (iv), the following clause shall be inserted, namely: - "(v) The term "apartment" shall have the same meaning as assigned to it in clause (e) under section 2 of the Real Estate (Regulation and Development) Act, 2016 (16 of 2017). (vi) The term "affordable residential apartment" shall have the same meaning as assigned to it in the notification No. 11/2017-State Tax (Rate), published in the Gazette of Delhi, Extraordinary, Part IV, dated 30th June, 2017 vide F.3 (15 )/Fin (Rev-I)/2017-18/DS-VI/ 381, dated 30th June, 2017, as amended. (vii) The term "promoter" shall have the sam....