Amendment in Notification No. 38/1/2017- -Fin(R&C)(13/2017-Rate), dated the 30th June, 2017 - 38/1/2017-Fin(R&C)(5/2019-Rate) - Goa SGST

GOVERNMENT OF GOA Department of Finance Notification 38/1/2017-Fin(R C)(5/2019-Rate) In exercise of the powers conferred by sub-section (3) of section 9 of the Goa Goods and Services Tax Act, 2017 (Goa Act 4 of 2017), the Government of Goa, on the recommendations of the Council, hereby makes the following further amendments in the Notification No. 38/1/2017- -Fin(R C)(13/2017-Rate), dated the 30th June, 2017, published in the Extraordinary Official Gazette No. 3, Series I No. 13, dated the 30th June, 2017, namely:- In the said notification,- (i) in the Table, after serial number 5A and the entries relating thereto, the following serial number and entries shall be inserted, namely:- (1) (2) (3) (4) 5B Services supplied by any person by way of transfer of development rights or Floor Space Index (FSI) (including additional FSI) for construction of a project by a promoter. Any person 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 the Explanation, after clause (h), the following clauses shall be inserted, namely:- (i) 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). (j) 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). (k) the term project shall mean a Real Estate Project (REP) or a Residential Real Estate Project (RREP); (l) the term Real Estate Project (REP) shall have the same meaning as assigned to it in clause (zn) of section 2 of the Real Estate (Regulation and Development) Act, 2016 (16 of 2016). (m) 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 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 1st of April, 2019. By order and in the name of the Governor of Goa. Sushama D. Kamat, Under Secretary, Finance (R C). Porvorim, 29th March, 2019.