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2020 (2) TMI 554 - AUTHORITY FOR ADVANCE RULING, MAHARASHTRALevy of GST - sale of Transferable Development Rights (TDR)/ Floor Space Index (FSI) received as consideration for surrendering the joint rights in land in terms of Development Control Regulations - Classification under GST laws - rate of GST - Circular F. No. 354/32/2019-TRU dated the 14th May, 2019, the Government of India, Ministry of Finance, Department of Revenue (Tax Research Unit), New Delhi. HELD THAT:- GST is payable at the rate of 18% (9% + 9%) on transfer of development rights or FSI (including additional FSI), under Sl. No. 16, item (iii) of Notification No. 11/2017 - Central Tax (Rate) dated 28-06-2017 (Heading 9972). The transactions of transfer of development rights/AdditionaI FSI are taxable under GST Laws @ 18% (9% CGST+ 9% SGST) under Sl. No. 16, item (iii) of Notification No. 11/2017 - C.T. (Rate) dated 28.06.2017 (Heading 9972).
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