Seeks to amend Notification No. 19877- FIN-CT1-TAX-0022/2017, dated the 29th June,2017 - 11246 – FIN-CT1-TAX-0043/2017/FIN - S.R.O. No.122/2019 - Orissa SGST

FINANCE DEPARTMENT NOTIFICATION The 30th March, 2019 S.R.O. No.122/2019- In exercise of the powers conferred by sub-section (3) of Section 9 of the Odisha Goods and Services Tax Act, 2017 (Odisha Act 7 of 2017), the State Government, on the recommendations of the Goods and Services Tax Council, hereby make the following further amendments in the notification of the Government of Odisha, in the Finance Department No. 19877- FIN-CT1-TAX-0022/2017, dated the 29th June,2017 published in the Extraordinary issue No.1145 of the Odisha Gazette, dated the 29th June,2017 bearing S.R.O. No. 307/2017, as amended from time to time, and the last such amendment is in the notification of Government of Odisha, in the Finance Department No. 40958-FIN-CT1-TAX-0043/2017, dated the 31st December,2018 published in the Extraordinary issue No.2466 of the Odisha Gazette, dated the 31st December,2018 bearing S.R.O. No. 496/2018 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 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. [No.11246 FIN-CT1-TAX-0043/2017/FIN.] By Order of the Governor SAUMYAJIT ROUT Deputy Secretary to the Government