Seeks to amend KGST Tax Rate Notification(01/2019) dated the 29th June, 2017 - 08/2019 No. FD 48 CSL 2017 - Karnataka SGST

FINANCE SECRETARIAT NOTIFICATION (08/2019) No. FD 48 CSL 2017, Bengaluru, dated: 29.03.2019 In exercise of the powers conferred by sub-section (1) of Section 9 and sub- section (5) of Section 15 of the Karnataka Goods and Services Tax Act, 2017 (Karnataka Act 27 of 2017), the Government of Karnataka, on the recommendations of the Council, hereby makes the following further amendments in the Government of Karnataka Notification (01/2017) No. FD 48 CSL 2017, dated the 29th June, 2017, published in the Karnataka Gazette, Extraordinary, Part-IVA, No.591, dated the 29th June, 2017, namely :- In the said Notification, in Schedule III - 9%, after serial number 452P in column (1) and the entries relating thereto, the following serial number and entries shall be inserted, namely: - (1) (2) (3) 452Q Any chapter Supply of any goods other than capital goods and cement falling under chapter heading 2523 in the first schedule to the Customs Tariff Act, 1975 (51 of 1975), by an unregistered person to a promoter for construction of the project on which tax is payable by the promoter as recipient of goods under sub- section 4 of section 9 of the Karnataka Goods and Services Tax Act, 2017 (Karnataka Act 27 of 2017), as prescribed in notification No. 07 / 2019- No. FD 48 CSL 2017, dated 29.03.2019 Explanation - (i) Promoter shall have the same meaning as assigned to it in Real Estate (Regulation and Development) Act, 2016. (ii) project shall mean a real estate project (REP) or a Residential Real Estate Project (RREP); (iii) Real estate project (REP) shall have the same meaning as assigned to it in Real Estate (Regulation and Development) Act, 2016; (iv) Residential real estate project (RREP) shall mean a REP in which the carpet area of the commercial apartments is not more than 15% of the total carpet area of all the apartments in the REP. . (v) This entry is to be taken to apply to all gocxls which satisfy the conditions prescribed herein, even though they may be covered by a more specific chapter/ heading/ sub heading or tariff item elsewhere in this notification. 2. This Notification shall come into force with effect from 1 st of April, 2019. By Order and in the name of the Governor of Karnataka, NETRAPRABHA M.DHAYAPULE Under Secretary to Government (I/ c), Finance Department [C.T- l].