9911796707
TMI BlogAmendment in notification No. 12/2017- State Tax (Rate), dated the 7th July, 2017X X X X Extracts X X X X X X X X Extracts X X X X ..... Government of Mizoram, No.12/2017- State Tax (Rate), dated the 7th July, 2017, published in the Mizoram Gazette, Extraordinary, VOL-XLVI, Issue No,327 dated 11thJuly, 2017, namely:- In the said notification, - (i) in the opening paragraph, for the word, brackets and figures sub-section (1) of section 11 the word, brackets and figures , sub-section (3) and sub-section (4) of section 9, sub-section (1) of section 11,sub-section (5) of section 15 and section 148, shall be substituted; (ii) in the Table, - (a) after serial number 41 and the entries relating thereto, the following serial numbers and entries shall be inserted, namely: - (1) (2) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... DR or FSI(including additional FSI) or both for construction of the residential apartments in the project but for the exemption contained herein] x (carpet area of the residential apartments in the project which remain un- booked on the date of issuance of completion certificate or first occupation Total carpet area of the residential apartments in the project) Provided further that tax payable in terms of the first proviso hereinabove shall not exceed 0.5per cent. of the value in case of affordable residential apartments and 2.5 per cent. of the value in case of residential apartments other than affordable residential apartments remaining un- booked on the date of issuance of completion certificate or first occupation The liab ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion of upfront amount (called as premium, salami, cost, price, development charges or by any other name) paid for long term lease of land, as is attributable to the residential apartments, which remain un- booked on the date of issuance of completion certificate, or first occupation of the project, as the case may be, in the following manner - [GST payable on upfront amount (called as premium, salami, cost, price, development charges or by any other name) payable for long term lease of land for construction of the residential apartments in the project but for the exemption contained herein]x(carpet area of the residential apartments in the project which remain un- booked on the date of issuance of completion certificate or firs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... similar apartments charged by the promoter nearest to the date of issuance of completion certificate or first occupation, as the case may be. (iv) in paragraph 3 relating to Explanation, after clause (iv), the following clause shall be inserted, namely: - (v) 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). (vi) The term affordable residential apartment shall have the same meaning as assigned to it in the notification No. 11/2017-State Tax (Rate), dated the 7th July, 2017, published in the Mizoram Gazette, Extraordinary, VOL-XLVI, Issue No,326, dated 11thJuly, 2017, as amended. (vii ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed on or before the said date. (xiii) 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 1stday of April, 2019. Sd/- VANLAL CHHUANGA Commr. Secretary to the Govt. of Mizoram Taxation Department Note: - The principal notification No. 12/2017 - State Tax (Rate), dated the 7thJuly, 2017 was published in the Mizoram Gazette, Extraordinary, VOL-XLVI, Issue No,327 dated 11thJuly, 2017 and was last amended by notification No. 28/2018 - State Tax (Rate), dated the 18 th January, 2019. - Notificatio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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