TMI BlogAmendment in Notification No. 12/2017-State Tax (Rate), dated the 30th June, 2017X X X X Extracts X X X X X X X X Extracts X X X X ..... the Government of Himachal Pradesh, No.12/2017-State Tax (Rate), dated the 30th June, 2017, published in the Gazette of Himachal Pradesh, vide number EXN-F(10)- 15/2017, 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 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ner- [GST payable on TDR or FSI (including additional FSI) or both for construction of the residential 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 tax payable 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 unbooked on the date of issuance of completion ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... all be liable to pay tax at the applicable rate, on reverse charge basis, on such proportion of upfront amount (called as premium, salami, cost, price, development charges or by any other name) paid for long term lease of land, as is attributable to the residential apartments, which remain un- booked on the date of issuance of completion certificate, or first occupation of the project, as the case may be, in the following manner- [GST payable on upfront amount (called as premium, salami, cost, price, development charges or by any other name) payable for long term lease of land for construction of the residential apartments in the project but for the exemption contained herein] x (carpet area of the residential apartments in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or first occupation, as the case may be, shall be deemed to be equal to the value of similar apartments charged by the promoter nearest to the date of issuance of completion certificate or first occupation, as the case may be. (iv) in paragraph 3 relating to Explanation, after clause (iv), the following clause shall be inserted, namely:- (v) The term apartment shall have the same meaning as assigned to it in clause (e) under section 2 of the Real Estate (Regulation and Development) Act, 2016 (16 of 2017). (vi) The term affordable residential apartment shall have the same meaning as assigned to it in the notification No. 11/2017-State Tax (Rate) dated 30th June, 2017, published in the Gazette of Himachal Pra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ement or any other similar document evidencing booking of the apartment has been issued on or before the said date. (xiii) 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 1st day of April, 2019. By order, JAGDISH CHANDER SHARMA, Principal Secretary (E T). Note.- The principal notification No. 12/2017-State Tax (Rate), dated the 30th June, 2017 was published in the Gazette of Himachal Pradesh number No. EXN-F(10)-15/2017, dated the 30th June, 2017 and was last amended by notification No. 28/2018 - State Tax (Ra ..... X X X X Extracts X X X X X X X X Extracts X X X X
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