(1O BE PUBLISHED IN PART IV OF THE DELHI GAZETTE EXTRAORDINARY) GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI FINANCE (REVENUE-1) DEPARTMENT DELHI SACHIVALAYA, LP. ESTATE: NEW DELHI-110 002 Dated: O// 6/26 Notification No 04/2019- State Tax (Rate) No. F.3(3 )/Fin (Rev-1)/2020-21/DS-VU / 6 No. F.3(3)/Fin(Rev-1)/2020-21/- In exercise of the powers conferred by sub-section (1) of section |1 of the Delhi Goods and Services Tax Act, 2017 (03 of 2017), the Lt. Governor of National Capital Territory of Delhi, on being satisfied that it is necessary in the public interest so to do, on the recommendations of the Couneil, hereby makes the following further amendments in the notification of the Government of Delhi, in the Department of Finance ( Revenue-l), No.12/2017- State Tax (Rate), dated the 30'" June, 2017, published in the Gazette of Delhi, Extraordinary, Part IV, vide number No. F.3 (15 )/Fin (Rev-1)/2017-18/DS-VI/ 380, dated the 30" June, 2017, namely:- In the said notification, -
(1) 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 | ],sub-section (5) of section 15 and section 148,” shall be substituted;
(11) in the Table, -
(a) after serial number 41 and the entries relating thereto, the following serial numbers and entries shall be inserted, namely: - ra | @ | (3) _|@ (5) i “41A | Heading Service by way of | Nil | Provided that the promoter shall be liable to | 9972 transfer of development | pay tax at the applicable rate, on reverse rights (herein refer | | TDR) or Floor Space development rights, or FSI charge basis, on such proportion of value of (including Index (FSI) (including additional FSI) on or after 1° April, 2019 for construction of apartments by a promoter in a project, intended for sale to a buyer, wholly or partly, except where the entire consideration has been | residential after issuance of completion certificate, required, by received where the additional FSI), or both, as is attributable to the residential apartments, which remain unbooked 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 TDR or FSI (including additional FSI) or both for construction of the residential 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 apartments in | | | | |__| competent authority or after its first occupation, whichever is earlier.
GST The amount of | exemption available for | construction of residential apartments in the project under this notification shall be calculated as under:
[GST payable on TDR or FSI (including additional FSI) or both for construction of the project] x (carpet area of the residential apartments in the project + Total carpet area of the commercial residential and apartments in the project ) + 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 lability to pay state tax on the said portion of the development rights or FSI, or both, calculated as above, shall arise on the date of completion or first occupation of the project, as the case may be, whichever is earlier.
“Heading | 41B 9972 Upfront amount (called as premium, — salami, cost, price, development charges or by any other name) payable in respect of service by way of granting of long. term lease of thirty years, or more, on or after
01.04.2019, for | construction of residential apartments by a promoter in a intended for sale to a buyer, wholly project, or partly, except where | the entire consideration | has been received after issuance of completion | certificate, where required, by the competent authority or after its first occupation, Nil
Provided that the promoter shall be liable to pay tax at the applicable rate, on reverse charge basis, on such proportion 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 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 construction of whichever is earlier.
|The amount of GST exemption available for | construction of | residential apartments in | the project under this notification shall be | calculated as under:
{GST upfront amount (called as premium, payable on salami, cost, price, development charges or by any other term lease of land for construction of — the name) payable for long | the residential apartments in the project);
Provided further that the tax payable in terms of the first proviso 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 state tax on the said proportion of upfront amount (called as premium, salami, cost, price, development charges or by any other name) paid for long term lease of land, calculated as above, shall arise on the date of issue of completion certificate or first occupation of the project, | | peajees) 3 eniory Us a as the case may be.
| the residential apartments in the project | | + Total carpet area of | the commercial residential = and apartments in the project).
(il1) after paragraph |, the following paragraphs shall be inserted, namely, - “1A. Value of supply of service by way of transfer of development rights or FSI by a person to the promoter against consideration in the form of residential or commercial apartments shall be deemed to be equal to the value of similar apartments charged by the promoter from the independent buyers nearest to the date on which such development rights or FSI] 1s transferred to the promoter.
1B. Value of portion of residential or commercial apartments remaining un-booked on the date of issuance of completion certificate or first occupation, as the case may be, shall be deemed to be equal to the value of 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), published in the Gazette of Delhi, Extraordinary, Part IV, dated 30" June, 2017 vide F.3 (15 )/Fin (Rev-1)/2017-18/DS-VI/ 381, dated 30°" June, 2017, as amended.
(vii) 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),
(vill) The term “project” shall mean a Real Estate Project or a Residential Real Estate Project.
(ix) the term “Real Estate Project (REP)” shall have the same meaning as assigned to it in clause
(zn) under section 2 of the Real Estate (Regulation and Development) Act, 2016 (16 of 2017).
(x) 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;
(xi) The term “carpet area” shall have the same meaning as assigned to it clause (k) under section 2 of the Real Estate (Regulation and Development) Act, 2016 (16 of 2017).
(xt) “an apartment booked on the date of issuance of completion certificate or first occupation of the project” shall mean an apartment which meets all the following three conditions, namely-
(a) part of supply of construction of the apartment service has time of supply on or before the said date; and
(b) consideration equal to at least one instalment has been credited to the bank account of the registered person on or before the said date; and
(c) an allotment letter or sale agreement or any other similar document evidencing booking of the apartment has been issued on or before the said date.
(xi) “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 noufication shall come into force with effect from the 1 day of April, 2019.
By order and in the name of the Lt. Governor of the National Capital eee (Sunil Sehgal) Dy. Secretary VI (Finance) No. F.3(3 )/Fin (Rev-1)/2020-21/DS-VU//Z & Dated: OWE, Sof 0 Copy forwarded for information to:- |. The Principal Secretary to the Hon’ble Lieutenant Governor, Delhi
2. The Secretary (Finance), Govt. of NCT of Delhi, Delhi Sachivalaya, I.P. Estate, New Delhi lo a The Secretary (GAD), Govt. of NCT of Delhi with the request to publish the notification in Delhi Gazette Part-1V (Extraordinary) in today’s date.
4, The Commissioner, State Tax, Delhi, Vyapar Bhawan, |.P. Estate, New Delhi.
5. The Additional Secretary to the Hon’ble Chief Minister, Govt. of NCT of Delhi, Delhi Sachivalaya, I.P Estate, New Delhi
6. The Secretary to Finance Minister, Govt. of NCT of Delhi, Delhi Sachivalaya, I.P.
Estate, New Delhi
7. The Additional Secretary (Law), Govt. of NCT of Delhi, Delhi Sachivalaya, I.P. Estate, New Delhi
8. The P.S. to the Leader of Opposition, 29, Delhi Legislative Assembly, Old Secretariat, Delhi.
9, OSD to Chief Secretary, Govt. of NCT of Delhi, Delhi Sachivalaya, I.P. Estate, New Delhi.
10. Aiuard File.
LX Website.
(Sunil Sehgal) Dy. Secretary VI (Finance) Note: -The principal notification No. 12/2017 - State Tax (Rate), dated the 30" June, 2017 was published in the Gazette of Delhi, Extraordinary- [V, published vide No.
F.3(15)/Fin.(Rev-1)/2017-18/DS-VI/380, dated the 30"" June, 2017 and was last amended by notification No. 28/2018 - State Tax (Rate), dated 12/09/2019 vide no F.3(53)/Fin.(Rev-1)/ 2019-20/DS-V1I/422 dated the 12/09/2019.