GST INDIA Biz — Amendment to Notification No. 13/2017–CT (Rate) prescribing Reverse Charge Mechanism for TDR, FSI and long-term lease in real estate sector.

Notification No. 05/2019

Date: April 1, 2019

Subject: Amendment to Notification No. 13/2017–CT (Rate) prescribing Reverse Charge Mechanism for TDR, FSI and long-term lease in real estate sector.

Description:

This notification inserts S. Nos. 5B and 5C, making promoters liable to pay GST under RCM on transfer of development rights, FSI (including additional FSI) and long-term lease of land (30 years or more). Definitions of apartment, promoter, project, REP and RREP are inserted for uniform application.

Issued for earlier notification?

Yes — amends Notification No. 13/2017–Central Tax (Rate).

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