Seeks to notify certain class of persons by exercising powers conferred under section 148 of MGST Act, 2017. - ERTS(T) 4/2019/198 - 06/2019-State Tax (Rate) - Meghalaya SGST

GOVERNMENT OF MEGHALAYA EXCISE, REGISTRATION, TAXATION STAMPS DEPARTMENT NOTIFICATION No. 06/2019-State Tax (Rate) Dated Shillong the 29 th March, 2019 No. ERTS(T) 4/2019/198 In of the powers conferred by section 148 of the Meghalaya Goods and Services Tax Act, 2017 (Act 10 of 2017),, the Government of Meghalaya, on the of the Council, hereby notifies the following classes of registered namely:- (i) a promoter who development rights or Space Index (FSI) (including additional FSI) on or after 1 st April, 2019 for construction of a project against consideration payable or paid by him, wholly or partly, in the form of construction service of commercial or residential apartments in the project or in any other form including in cash; (ii) a promoter, who receives long term lease of land on or after April, 2019 for construction of residential apartments in a project against consideration payable or paid by him, in the form of upfront amount (called as premium, salami, cost, price, development charges or by any other name), as the registered in whose case the liability to pay central tax on, - (a) the consideration paid by him in the form of construction service of commercial or residential apartments in the project, for supply of development rights or FSI (including additional FSI); (b) the monetary consideration paid by him, for supply of development rights or FSL (including additional FSI) relatable to construction of residential apartments in project; (c) the upfront amount (called as premium, salami, cost, development charges or by any other name) paid by him for long term lease of land relatable to construction of residential apartments in the project; and (d) the supply of construction service by him against consideration in the form of development rights or FSI(including additional FSI), - shall arise on the date of issuance of completion certificate for the project, where required, by the competent authority or on its first occupation, whichever is earlier. 2. Explanation :- For the purpose of this notification,- (i) The term apartment shall have the same meaning as assigned to it in clause (e) of section 2 of the Real Estate (Regulation and Development) Act, 2016 (16 of 2016); (ii) the term promoter shall have the same meaning as assigned to it in in clause (zk) of section 2 of the Real Estate (Regulation and Development) Act, 2016 (16 of 2016); (iii) the term project shall mean a Real Estate Project (REP) or a Residential Real Estate Project (RREP); (iv) the term Real Estate Project (REP) shall have the meaning as assigned to it in in clause (zn) of section 2 of the Real Estate (Regulation and Development) Act, 2016 (16 of 2016);. (v) 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 cent. of the total carpet area of all the apartments in the REP. (vi) the term floor space index (FSI) shall mean the ratio of a building's total area (gross floor area) to the size of the piece of land upon which it is built. (vii) Tax on services covered by sub-para (i) and (ii) of paragraph 1 above is required to be paid under reverse charge basis in accordance with notification No. ERTS(T) 65/2017/13, 29-06-2017 published in the Gazette of Meghalaya, Extraordinary, Part II A, vide No. 100, dated 05.07.2017, as amended. 3. This notification shall come into force with effect from the 1 st day of April, 2019. Sd/- H. Marwein Additional Chief Secretary to the Government of Meghalaya Excise, Registration, Taxation Stamps Department Memo No. ERTS(T) 4/2019/198-A Dated Shillong the 29 th March, 2019.