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TMI BlogSeeks to notify certain class of persons by exercising powers conferred under section 148 of CGST Act, 2017X X X X Extracts X X X X X X X X Extracts X X X X ..... ction 148 of the Central Goods and Services Tax Act, 2017 (12 of 2017), , the Central Government, on the recommendations of the Council, hereby notifies the following classes of registered persons, namely:- (i) a promoter who receives development rights or Floor Space Index (FSI) (including additional FSI) on or after 1st April, 2019 for construction of a project against consideration payable or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... FSI (including additional FSI) relatable to construction of residential apartments in project; (c) the upfront amount (called as premium, salami, cost, price, development charges or by any other name) paid by him for long term lease of land relatable to construction of residential apartments in the project; and (d) the supply of construction service by him against consideration in the form of d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... P); (iv) the term "Real Estate Project (REP)" shall have the same meaning as assigned to it in in clause (zn) of section 2 of the Real Estate (Regulation and Development) Act, 2016 (16 of 2016);. (v) the term "Residential Real Estate Project (RREP)" shall mean a REP in which the carpet area of the commercial apartments is not more than 15 per cent. of the total carpet area of all the apartments ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed 02-06-2021 w.e.f. 02-06-2021 before it was read as "in whose case the liability to" 2. Substituted vide Notification No. 03/2021-Central Tax (Rate) dated 02-06-2021 w.e.f. 02-06-2021 before it was read as "shall arise on the date of issuance of completion certificate for the project, where required, by the competent authority or on its first occupation, whichever is earlier&quo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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