RNI No. MAHBIL/2009/37831 W A RN IE TS0 STHIRUT HET A= ¥ u, @i® ¥3(8)] wfFaw, W 30, 3088/ ?, W R¥R [q2 w, fhme : &@@ Q.00 TR FHHH 22 Wity TERTZ YA HERTE siffami=e aaw doet (T T, TH-3T AT Th-of Ti0eA WiGg holel a0 @ ARY FGeafaie) fam a amer FINANCE DEPARTMENT Madam Cama Marg, Hutatma Rajguru Chowk, Mantralaya, Mumbai 400 032, dated the 30th March 2019 NOTIFICATION Notification No. 04/2019—State Tax (Rate) MAHARASHTRA GOODS AND SERVICES TAX ACT, 2017.
No. GST-1019/C.R.51/Taxation-1. — In exercise of the powers conferred by sub-section (1) of section 11 of the Maharashtra Goods and Services Tax Act, 2017 (Mah. XLII of 2017), the Government of Maharashtra, on being satisfied that it is necessary in the public interest so to do, on the recommendations of the Council, hereby makes the following further amendments in the Government Notification of the Finance Department No. MGST-1017/C.R. 103(11) [Notification No.12/2017- State Tax (Rate)], dated the 29th June 2017, published in the Maharashtra Government Gazette, Part IV-B, Extra-ordinary No.182, dated the 29th June 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,— HIT IR 3R 3 TERTE JEH 0 FMIERTT HAT WR-8, A 30, 08%/3 §, Teh R3¥%
(a) after serial number 41 and the entries relating thereto, the following serial numbers and entries shall be inserted, namely:— [ @) 3) (4) ) “41A | Heading | Service by way of | Nil | Provided that the promoter shall be 9972 transfer of development liable to pay tax at the applicable rate, rights (herein refer on reverse charge basis, on such TDR) or Floor Space proportion of value of development Index (FSI) (including rights, or FSI (including additional FSI), additional FSI) on or or both, as is attributable to the after 1st April, 2019 for residential apartments, which remain construction of un-booked on the date of issuance of residential apartments completion certificate, or first by a promoter in a occupation of the project, as the case project, intended for may be, in the following manner - sale to a buyer, wholly or partly, except where the entire consideration [GST payable on TDR 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 has been received after issuance of completion certificate, where required, by the competent authority or after its first occupation, whichever issuance of completion certificate or is earlier. first occupation + Total carpet area of the residential apartments in the The amount of GST project) :
exemption available for construction of Provided further that tax payable in residential apartments terms of the first proviso hereinabove in the project under this shall not exceed 0.5 per cent.of the value notification shall be in case of affordable residential calculated as under: apartments and 2.5 per cent. of the [GST payable on TDR value in case of residential apartments or FSI (including other than affordable residential additional FSI) or both apartments remaining un- booked on for construction of the the date of issuance of completion project] - (carpet area certificate or first occupation of the residential apartments in the project + Total carpet area of the residential The liability 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 and commercial apartments in the project ) may be, whichever is earlier.
TERTE JEH 0 FMIERTT HAT WR-8, A 30, 08%/3 §, Teh R3¥% [® (2 3) (4) () 41B | Heading | Upfront amount (called | Nil | Provided that the promoter shall be 9972 as premium, salami, liable to pay tax at the applicable rate, HAT TR -] 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 project, sale to a buyer, wholly or partly, except where the entire consideration intended for has been received after issuance of completion certificate, where required, by the competent authority or after its first occupation, 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 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 (carpet area residential the construction of project] - of the apartments in on reverse charge basis, such proportion of upfront amount (called as premium, salami, cost, 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 - on price, [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 apartments in the projectbut the exemption contained herein] - (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 of the apartments in the project) :
residential for area residential
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, development charges or by any other price, ¥ WENTZ I TSI SHTIRUT T =/-3, AT 30, 20R%/FA §, W 2R¥% [® (2 3) (4) () project + Total carpet name) paid for long term lease of land, area of the residential calculated as above, shall arise on the and commercial date of issue of completion certificate or apartments in the first occupation of the project, as the project). case may be.
(iii) after paragraph 1, 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 FSIis 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. MGST-1017/C.R. 103(10)/Taxation-1 [Notification No.11/2017-State Tax (Rate), dated the 29th June 2017, published in the Maharashtra Government Gazette, Part IV-B, Extra-ordinary No. 182, dated the 29th 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).
(viii) 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;
TERTE IE T SFETIRT AT IR-, AT 30, 08%/F7 %, T ]¥R 4
(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).
(xii) “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.
(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 1st day of April, 2019.
By order and in the name of the Governor of Maharashtra, J. V. DIPTE, Deputy Secretary to Government.
Note.— The principal Notification No. MGST-1017/C.R.103(11)/Taxation-1[Notification No.12/2017- State Tax (Rate)], dated the 29th June, 2017, published in the Maharashtra Government Gazette, Part IV-B, Extra-ordinary No. 182, dated the 29th June, 2017 and was last amended by Notification No. GST-1018/C.R.145/Taxation-1[Notification No. 28/2018-State Tax (Rate)], dated the 31st December, 2018, published in the Maharashtra Government Gazette, Part IV-B, Extra-ordinary No.
468, dated the 31st December, 2018.
ON BEHALF OF GOVERNMENT PRINTING, STATIONERY AND PUBLICATION, PRINTED AND PUBLISHED BY DIRECTOR DR. NAMDEO KONDAJI BHOSALE, PRINTED AT GOVERNMENT CENTRAL PRESS, 21-A, NETAJI SUBHASH ROAD, CHARNI ROAD, MUMBAI 400 004 AND PUBLISHED AT DIRECTORATE OF GOVERNMENT PRINTING, STATIONERY AND PUBLICATIONS, 21-A, NETAJI SUBHASH ROAD, CHARNI ROAD, MUMBAI 400 004 EDITOR : DIRECTOR DR. NAMDEO KONDAJI BHOSALE.