TMI BlogSeeks to amend notification No. 13/2017- Union Territory Tax (Rate) so as to specify services to be taxed under Reverse Charge Mechanism (RCM) as recommended by Goods and Services Tax Council for real estate sector.X X X X Extracts X X X X X X X X Extracts X X X X ..... ue) Notification No. 05/2019- Union Territory Tax (Rate) New Delhi, the 29th March, 2019 G.S.R. 264 (E).- In exercise of the powers conferred by sub-section (3) of section 7 of the Union Territory Goods and Services Tax Act, 2017 (14 of 2017) , the Central Government, on the recommendations of the Council, hereby makes the following further amendments in the notification of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Promoter. 5C Long term lease of land (30 years or more) by any person against consideration in the form of upfront amount (called as premium, salami, cost, price, development charges or by any other name) and/or periodic rent for construction of a project by a promoter. Any person Promoter. ; (ii) in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... P) 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 in the REP. (n) floor space index (FSI) shall mean the ratio of a building s total floor area (gross floor area) to the size of the piece of land upon which it is built. . 2. This notification shall come into force with effect from the 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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