Reverse charge shall be applicable on the promoter if supplies are received from an unregistered person in case of the following:
1.Supply of goods and services or both [other than services by way of grant of development rights, long term lease of land (against upfront payment in the form of premium, salami, development charges etc.) or FSI (including additional FSI)]
2. Cement falling in chapter heading 2523 in the first schedule to the Customs Tariff Act, 1975 (51 of 1975)
which constitute the shortfall from the minimum value of goods or services or both required to be purchased by a promoter for construction of project, in a financial year(or part of the financial year till the date of issuance of completion certificate or first occupation, whichever is earlier)
3.Capital goods falling under any chapter in the first schedule to the Customs Tariff Act, 1975 (51 of 1975) supplied to a promoter for construction of a project on which tax is payable or paid at the rate specified in the notification.
Notification no : 07/2019
Subject:Seeks to notify certain services to be taxed under RCM under section 9(4) of CGST Act as recommended by Goods and Services Tax Council for real estate sector.
Date of Issue: 29-03-2019
English File: Click Here
Hindi File: Click Here
