Notification No. 04/2018
Date: January 25, 2018
Subject: Deferral of GST liability on transfer of development rights and construction services.
Description:
This notification notifies specified classes of registered persons under section 148 of the CGST Act and provides that GST liability on supply of development rights against construction services, and vice versa, shall arise at the time of transfer of possession or right in the constructed property. The measure defers tax payment to align GST liability with actual monetisation of the project.
Issued for earlier notification?
No — this is an independent notification issued under section 148 of the CGST Act