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Seeks to amend Notification No. 12/2017- State Tax (Rate), dated the 30th June, 2017 - 04/2019- State Tax (Rate) - Delhi SGST

Extract

..... , 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) (4) (5) “41A Heading 9972 Service by way of transfer of development rights (herein refer TDR) or Floor Space Index (FSI) (including additional FSI) on or after 1st April, 2019 for construction of residential a .....

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Seeks to amend Notification No. 12/2017- State Tax (Rate), dated the 30th June, 2017 - 04/2019- State Tax (Rate) - Delhi SGST

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..... yable 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 or FSI, or both, calculated as above, shall arise on the date of completion or first occupation of the project, as the case may be, whichever is earlier. 41B Heading 9972 Upfront amount (called as premium, salami, cost, price, development charges or by any other name) payable in respect of service by way of granting of long term leas .....

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Seeks to amend Notification No. 12/2017- State Tax (Rate), dated the 30th June, 2017 - 04/2019- State Tax (Rate) - Delhi SGST

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..... 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 project); Provided further that the tax payable in terms of the first proviso 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 proportion of upfront amount (called as premium, sala .....

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Seeks to amend Notification No. 12/2017- State Tax (Rate), dated the 30th June, 2017 - 04/2019- State Tax (Rate) - Delhi SGST

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..... 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 same meaning as assigned to it in clause (zk) under section 2 of the Real Estate (Regulation and Development) Act, 2016 (16 of 2017). (viii) The term “project” shall mean a Real Estate Project or a Residential Real Estate Project. (ix) the term “Real Estate Project (REP)” shall have the same meaning as assigned to it in clause (zn) under section 2 of the Real Estate (Regulation and Development) Act, 2016 (16 of 2017). (x) The term “Residential Real Estate Project (RREP .....

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Seeks to amend Notification No. 12/2017- State Tax (Rate), dated the 30th June, 2017 - 04/2019- State Tax (Rate) - Delhi SGST

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