9911796707
TMI BlogAmendment in Notification G. O. (P) No. 73/2017/TAXES, dated 30th June, 2017X X X X Extracts X X X X X X X X Extracts X X X X ..... dated 30th June, 2017 and published as S. R. O. No. 371/2017 in the Kerala Gazette Extraordinary No. 1361 dated 30th June, 2017, namely:- In the said notification,- (i) in the opening paragraph, for the words, brackets, symbol and figures sub-section (1) of section 11 the words, brackets, symbol 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) (3) (4) (5) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oject 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 0.5 per 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 liability to pay central tax on the said portion of the development rights or FSI, or both, calc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) 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 first occupation Total carpet area of the residential apartments in the project); Provided furth ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... upation, as the case may be. ; (iv) in paragraph 3 relating to Explanation, after clause (iv), the following clauses 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 (Central Act 16 of 2017); (vi) The term affordable residential apartment shall have the same meaning as assigned to it in the notification issued under G. O. (P) No. 72/2017/TAXES, dated the 30th June, 2017 and published as S. R. O. No. 370/2017 in the Kerala Gazette Extraordinary No. 1360 dated 30 th June, 2017, as amended; (vii) The term promoter shall have the same meaning as assigned to it in clause (zk) under section 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (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 1st day of April, 2019. By order of the Governor, VENUGOPAL, P., Secretary to Government. Explanatory Note (This does not form part of the notification, but is intended to indicate its general purport.) On recommendation of the Goods and Service Tax Council, the Government of Kerala have decided to exempt the supply of certain services from levy of the Goods and Services Tax and to amend the notification issued under G. O. (P) No. 73/2017/ TAXES, dated 30th June, 2017 and published as S. R. O. No. 371/2017 in the Kerala Gazette Extraordinary No. 1361 dated 30th June, 2017 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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