Seeks to amend MGST Act so as to specify services to be taxed under Reverse Charge Mechanism (RCM) as recommended by Goods and Services Tax Council for real estate sector. - ERTS(T) 4/2019/197 - 05/2019-State Tax (Rate) - Meghalaya SGST

GOVERNMENT OF MEGHALAYA EXCISE, REGISTRATION, TAXATION STAMPS DEPARTMENT NOTIFICATION No. 05/2019-State Tax (Rate) Dated Shillong the 29 th March, 2019 No. ERTS(T) 4/2019/197 In exercise of the powers conferred by sub-section (3) of section 9 of the Meghalaya Goods and Services Tax Act, 2017 (Act 10 of 2017), the Government of Meghalaya, on the recommendations of the Council, hereby makes the following further amendments in the ERTS Department notification No. ERTS (T) 65/2017/13, dated 29 th June, 2017, published in the Gazette of Meghalaya, Extraordinary, Part II A, vide number 100, dated the 29 th June, 2017, namely:- In the said notification, - (i) in the Table, after serial number 5A and the entries relating thereto, the following serial 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 Promotor. 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 Promotor. ; (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); (I) 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 of April, 2019. Sd/- H. Marwein Additional Chief Secretary to the Government of Meghalaya Excise, Registration, Taxation Stamps Department Memo No. ERTS(T) 4/2019/197-A Dated Shillong the 29 th March, 2019.