This notification amends Notification No. 9/2017–Integrated Tax (Rate) to grant conditional exemption on services by way of transfer of development rights, FSI, and long-term lease of land used for construction of residential apartments. Tax under reverse charge is payable on the portion attributable to unsold apartments at the time of completion or first occupation. Valuation rules and caps on tax liability are also prescribed.

Issued for earlier notification?
Yes — it amends Notification No. 9/2017–Integrated Tax (Rate).