Prescribing persons liable to pay tax on reverse charge for the Jammu and Kashmir Goods and Services Tax Act, 2017 - SRO-291 - Jammu and Kashmir SGST

GOVERNMENT OF JAMMU AND KASHMIR CIVIL SECRETARIAT-FINANCE DEPARTMENT Notification Jammu, the 16th April, 2019 SRO-291.- In exercise of the powers conferred by sub section (4) of section 9 of the Jammu and Kashmir Goods and services Tax Act, 2017 (Act No.V of 2017). the State Government, on the recommendations of the council, hereby notifies that the registered person specified in column (3) of the table below, shall in respect of supply of goods or services or both specified in column (2) of the Table below, received from an unregistered supplier shall pay tax on reverse charge basis as recipient of such goods or services or both, namely :- Table S. No. Category of supply of goods and services Recipient of goods and services 1 2 3 1 Supply of such goods services or both [other than services by way of grant of development rights, long term lease of land (against upfront payment in the form of premium, salami, development charges etc.) or FSI (including additional FSI) which constitue the shortfall from the minimum value of goods or services or both required to be purchased by a promoter for construction of project, in a financial year (or part of the financial year till the date of issuance of completion certificate or first occupation, whichever is earlier) as prescribed in the SRO no t i f i c a t io n No . -GST-11 Dated 08-07-2017 issued by Finance Department, Government of Jammu and Kashmir, as amended. Promoter. 2 Cement falling in chapter heading 2523 in the first schedule to the Customs Tariff Act, 1975 (51 of 1975) which constitute the shortfall from the minimum value of goods or services or both required to be purchased by a promoter for construction of project, in a financial year (or part of the financial year till the date of issuance of completion certificate or first occupation whichever is earliar) as prescribed in the SRO notification No. SRO-GST-11 Dated 08-07-2017 issued by Finance Department, Government of Jammu and Kashmir, as amended Promoter. 3. Capital goods falling under any chapter in the first schedule to the Customs Tarrif Act, 1975 (51 of 1975 ) supplied to a promoter for construction of a project on which tax is payable or paid at the rate prescribed for items (i), (ia), (ib), (ic), and (id) against serial number 3 in the Table, in the Table, in the SRO notification No. SRO-GST-11 Dated 08-07-2017 issued by Finance Department, Government of Jammu and Kashmir, as amended. Promoter Explanation .-For the purpose of this notification,- (i) 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) ; (ii ) project shall mean a Real Estate Project (REP)or a Residential Real Estate Project (RREP) ; (iii) 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) ; (iv) 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. (v) the term 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. This notification shall deemed to have come into force w.e.f. 1 st day of April, 2019. By order of the Government of Jammu and Kashmir. (Sd.) DR. ARUN KUMAR MEHTA, IAS, Principal Secretary to the Government.