Uttar Pradesh Shasan Sansthag at Y itta, Kar Evam Nibandhan Anubha g-2 In pursuance of the provision of clause (3) of Article 348 of the Constitution, the Governor is pleased to order the publication of the following English translation of Government Notification no. KA.NI-2-590 IXI-9(47)ll7- U.P. Act-1-2017-Order-(32)-2019, dated 16 May, 2019:
NOTIFICATION No.- KA.NI-2-590 /XI-9(47)l 17-U. P.Act- 1-2017 -Order-(32)-2019 Lucknow : Dated : 16 May, 2019 In exercise of the powers conferred by sub-sections (1), (3)and (a) of section 9, subsection (l) ofsection ll,sub-section (5) ofsection 15, sub-section (1) ofsection 16 and section 148 of the Uttar Pradesh Coods and Services Tax Act,2017 (U.P. Act no I of 2017),the Governor, on the recommendations of the Council, and on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification No. KA.NI.-2-842lXI-g(47)117-U.P. Actl-2017-Order-(09)-2017 dated 30'h June, 2017, namely:- Amendment In the said notification, -
(i) in the opening paragraph,
(a) after the word, brackets and figures "confered by sub-section (l),", the word, brackets and figures "sub-section (3) and sub-section (4)" shall respectively be inserted;
(b) for the word "and" after the words and figures "sub-section (5) of section 15" the symbol ", " shall be substituted ;
(c) after the word, brackets and figures "section (16)", the words and figure "and section 148" shall be inserted;
(ii) in the Table, -
(a) against serial number 3, for item (i), and the entries relating thereto in column (3), (4) and (5), the following items and entries shallbe substituted, namely, - Table
(3) (4) (s) "(i) Construction of affordable residential apartments by a promoter in a residential real estate project (herein after referred to as RREP)which commences on or after l't April, 2019 or in an ongoing RREP in respect of which the promoter has not exercised option to pay central tax on construction of apartments at
0.75
Provided that the state tax at the rate specified in column (4) shall be paid in cash, that is, by debiting the electronic cash ledger only;
Provided also that credit of input tax charged on goods and services used in supplying the service has not been taken the rates as specified for item (ie) or (if) below, as the case may be, in the manner prescribed therein,intended for sale to a buyer, wholly 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, whichever is earlier.
(Provisions of paragraph 2 of this notification shall apply for valuation of this service) except to the extent as prescribed in Annexure I in the case of REP other than RREP and in Annexure II in the case of RREP;
Provided also that the registered person shall pay, by debit in the electronic credit ledger or electronic cash ledger, an amount equivalent to the input tax credit attributable to construction in a project, time of supply of which is on or after l " April, 2019, which shall be calculated in the manner as prescribed in the Annexure I in the case of REP other than RREP and in Annexure II in the case of RREP;
Provided also that where a registered person (landowner- promoter) who transfers development right or FSI (including additional FSI) to a promoter (developer- promoter) against consideration, wholly or partly, in the form of construction of apartments, - the developer- promoter shall pay tax on supply of construction of apartments to the landownerpromoter, and such landowner - promoter shall be eligible for credit of taxes paid by him to the developer promoter towards the supply of construction of apartments by developer- promoter to him, provided the landownerpromoter further supplies such apartments to his buyers before issuance of completion certificate or first occupation, whichever is earlier, and pays tax on the same which is not less than the amount of tax paid by him on construction of such apartments to the developerpromoter.
Explanation. -
(i) "developer- promoter" is a promoter who constructs or converts a building into apartments or develops a plot for
(i)
(ii)
(ia) Construction of residential apartments other than affordable residential apartments by a promoter in an RREP which commences on or after l't April, 2019 or in an ongoing RREP in respect of which the promoter has not exercised option to pay state tax on construction of apaftments at the rates as specified for item (ie) or (if) below, as the case may be,in the manner prescribed therein, intended for sale to a buyer, wholly 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, whichever is earlier.
(Provisions of paragraph 2 of this notification shall apply for valuation of this service)
3.7s
(ib) Construction of commercial apaftments (shops, offices, godowns etc.) by a promoter in an RREP which commences on or after 1't April, 2019 or in an ongoing RREP in respect of which the promoter has not exercised option to pay central tax on construction of apartments at the rates as specified for item (ie) or (if;
below, as the case may be, in the manner prescribed therein, intended for sale to a buyer, wholly 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, whichever is earlier.
(Provisions of paragraph 2 of this notification shallapply for valuation of this service)
3.75
(ic) Construction of affordable residential apartments by a promoter in a real estate project (herein after referred to as REP)
0.75 other than RREP, which commences on or I after l't April, 2019 or in an ongoing REP other than RREP in respect of which the promoter has not exercised option to pay central tax on construction of apartments at the rates as specified for item (ie) or (ifl below, as the case may be, in the manner prescribed therein, intended for sale to a buyer, wholly 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, whichever is earlier.
(Provisions of paragraph 2 of this notification shall apply for valuation of this service) sale,
(ii) "landowner- promoter" is a promoter who transfers the land or development rights or FSI to a developer- promoter for construction of apartments and receives constructed apartments against such transferred rights and sells such apartments to his buYers independentlY.
Provided also that eighty percent of value of input and input services, [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), electricity, high speed diesel, motor spirit, natural gas], used in supplying the service shall be received from registered supplier only;
Provided also that inputs and input services on which tax is paid on reverse charge basis shall be deemed to have been purchased from registered Person;
Provided also that where value of input and input services received from registered suppliers during the financial year (or part of the financial year till the date of issuance of completion certificate or first occupation of the Project, whichever is earlier)falls short of the said threshold of 80 per cent., tax shall be paid by the promoter on value of input and input services comprising such shortfall at the rate of eighteen percent on reverse charge basis and all the provisions of the Uttar Pradesh Goods and Services Tax Act, 2017 (U.P. Act no I of 2017) shall apply to him as if he is the person liable for paying the tax in relation to the supply ofsuch goods or services or both;
Provided also that notwithstanding anything contained herein above, where cement is received from an unregistered person, the promoter shall pay tax on of such cement at the aPplicable
(id) Construction of residential apartments other than affordable residential apartments by a promoter in a REP other than a RREP which commences on or after l't April, 2019or in an ongoing REP other than RREP in respect of which the promoterhas not exercised option to pay state tax on construction of apartments at the rates as specified for item (ie) or (if; below, as the case may be, in the manner prescribed therein, intended for sale to a buyer, wholly 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, whichever is earlier.
(Provisions of paragraph 2 of this notification shall apply for valuation of this service)
3.75 rates on reverse charge basis and all the provisions of the Uttar Pradesh Goods and Services Tax Act, 2017 (U.P. Act no 1 of 2017), shall apply to him as if he is the person liable for paying the tax in relation to such supply of cement;
(Please refer to the illustrations in annexure III)
Explanation. -
1.The promoter shall maintain project wise account of inward supplies from registered and unregistered supplier and calculate tax payments on the shortfall at the end of the financial year and shall submit the same in the prescribed form electronically on the common portal by end of the quarter following the financial year. The tax liability on the shortfall of inward supplies from unregistered person so determined shall be added to his output tax liability in the month not later than the month of June following the end of the financial year.
2. Notwithstanding anything contained in
Explanation 1 above, tax on cement received from unregistered person shall be paid in the month in which cement is received.
3. Input Tax Credit not availed shall be reported every month by reporting the same as ineligible credit in GSTR-38 Row No. 4 (DX2)
Provided that in case of ongoing project, the registered person shall exercise one time option in the Form at Annexure IV to pay state tax on construction of apartments in a project at the rates as specified for item (ie) or (if), as the case may be. by the l0tr' of May" 2019:
Provided also that where the option is not exercised in Form at annexure IV by the I Oth of May , 2079, option to pay tax at the rates as applicable to item (i) or (ia) or(ib) or (ic) or (id) above, as the case may be,
(ie) Construction of an apartment in an ongoing project under any of the schemes specified in sub-item (b), sub-item (c), sub-item (d), subitem (da) and sub-item (db) of item (iv); subitem (b), sub-item (c), sub-item (d) and subitem (da) of item (v); and sub-item (c) of item
(vi), against serial number 3 of the Table, in respect of which the promoter has exercised option to pay state tax on construction of apartments at the rates as specified for this item.
Provisions of paragraph 2 of this notification shall applv for valuation of this service shall be deemed to have been exercised;
Provided also that invoices for supply of the service can be issued during the period from l't April 2019 to 10th MaY 2019 before exercising the option, but such invoices shall be in accordance with the option to be exercised.;
tift Construction of a complex, building, civil structure or a part thereof, including,-
(i) commercial apartments (shops, offices, godowns etc.) bY a Promoter in a REP other than RREP,
(ii) residential apartments in an ongoing project, other than affordable residential apartments, in resPect of which the promoter has exercised option to pay central tax on construction of apartments at the rates as specified for this item in the manner prescribed herein, but excluding supply by way of services specified at items (i), (ia), (ib), (ic), (id) and (ie) above intended for sale to a buyer, wholly 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, whichever is earlier.
Explanation. -For the removal of doubt, it is hereby clarified that, supply by way of services specified at items (i), (ia), (ib), (ic), (id) and (ie) in column (3) shall afrract state tax prescribed against them in column (4) subject to conditions specified against them in column (5) and shall not be levied at the rate as specified under this entry.
(Provisions of paragraph 2 of this notification shall aoplv for valuation of this service
(b) against serial number 3, - a. item (ii) and the entries relating thereto in columns (3), (4) and (5) shall be omitted;
b. in item (iv) in column (3), -
(1) after the figures u2}l'7", the words, brackets, figures and letters "other than that covered by items (i), (ia), (ib), (ic), (id), (ie) and (if) above" shall be inserted;
c. in item (v) in column (3), -
(1) after the figures u2ol7", the words, brackets, figures and letters "other than that covered by items (i), (ia), (ib), (ic), (id), (ie) and (if) above,, shall be inserted;
td. after item (v) and entries relating thereto in column (3), (4) and (5), the following items and entries shall be inserted, namely, -
(3) (4) (5)
(va) Composite supply of works contract as defined in clause (119) of section 2 of the Uttar Pradesh Goods and Services Tax Act, 2017, other than that covered by items (i), (ia), (ib), (ic), (id),
(ie) and (if)above, supplied by way of construction, erection, commissioning, installation, completion, fitting out, repair, maintenance, renovation, or alteration of affordable residential apartments as specified covered by sub- clause (a) of clause (xvi) of paragraph 4 below, in a project which commences on or after 1't April, 2019,or in an ongoing project in respect of which the promoterhas not exercised option to pay state tax on construction of apartments at the rates as specified for item (ie) or
(if), as the case may be, in the manner prescribed therein, 6 Provided that carpet area of the affordable residential apartments as specified in the entry in column (3) relating to this item, is not less than 50% of the total carpet area of all the apartments in the project;
Provided also that for the purpose of determining whether the apartments at the time of supply of the service are affordable residential apartments as specified covered by sub- clause (a) of clause (xv) of paragraph 4 below or not, value of the apartments shall be the value of similar apartments booked nearest to the date of signing of the contract for supply of the service specified in the entry in column
(3) relating to this item;
Provided also that in case it finally turns out that the carpet area of the affordable residential apartments as specified booked or sold before or after completion, for which 6 gross amount actually charged was forty five lakhs rupees or less and the actual carpet area was within the limits prescribed in sub- clause (a) of clause (xv) of paragraph 4 below, was less than 50 per cent. of the total carpet area of all the apartments in the project, the recipient of the service, that is, the promoter shall be liable to pay such amount of tax on reverse charge basis as is equal to the difference between the tax payable on the service at the applicable rate but for the rate prescribed herein and the tax actually paid at the rate prescribed herein";
in item (iv) in column (3), after the figures u2017", the words, brackets, and figures "other than that covered by items (i), (ia), (ib), (ic), (id), (ie) and (i0 above" shall be inserted';
in item (xii) in column (3), for the entry, the following entry shall be substituted, namely: - "(xii) Construction services other than (i), (ia), (ib), (ic), (id), (ie), (if),(iii), (iv),
(v), (va), (vi), (vii), (viii), (ix), (x) and (xi) above.
Explanation. - For the removal of doubt, it is hereby clarified that, supply by way of services specified at items (i), (ia), (ib), (ic), (id), (ie) and (if) in column
(3) shall attract state tax prescribed against them in column (4) subject to conditions specified against them in column (5) and shall not be levied at the rate as specified under this entrY.";
e.
against serial number 16,in item (ii) in column (3), for the word, brackets and letters "sub-item (b), sub-item (c), sub-item (d), sub-item (da) and sub-item (db) of item (iv);
sub-item (b), sub-item (c), sub-item(d) and sub-item (da)of item (v); and sub-item (c) of item (vi)", the word, brackets figures and letters" (i) (ia), (ib), (ic), (id), (ie) and
(if)" shall be substituted;
after serial number 38 in column (1) and the entries relating thereto in column (2),
(3), (4) and (5) the following serial number and entries shall be inserted, namely: -
(1) (2) (3) (4) (s)
0039. Chapter 99 Supply of services 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) by an unregistered person to a promoter for construction of a project on which tax is payable by the recipient of the services under sub- section 4 of section 9 of the Uttar Pradesh Goods and Services Tax Act, 2017 (U.P. Act no 1 of 20771, as prescribed in notification No. KA.NI-2-687/Xl-9l47llt7- U.P.Act-1-2017-Order-(27)-2019 dated 01 May,2019.
Explanation. - This entry is to be taken to apply to all services which satisfy the conditions prescribed herein, even though they may be covered by a more specific chapter, section or heading elsewhere in this notification.
9 ,
(iii) in paragraph 2, for the words, brackets, letters and figures "sub-item (b), sub-item (c), subitem (d), sub-item (da) and sub-item (db) ofitem (iv); sub-item (b), sub-item (c), sub-item (d) and sub-item (da) of item (v); and sub-item (c) of item (vi)," the word, brackets, letters and figures " (i) (ia), (ib), (ic), (id), (ie)and (if)" shall be substituted;
(iv) after paragraph 2, the following paragraph shall be inserted, namely, - "2A. Value of supply of service by way of transfer of development rights or FSI (including additional FSI) by a person to the promoter against consideration in the form of commercial or residential apartments in a project shall be deemed to be equal to the value of service of construction of similar commercial or residential apartments charged by the promoter in accordance with paragraph 2 from the independent buyers, other than the person transferring the development rights or FSI, nearest to the date on which such development rights or FSI (including additional FSI) is transferred to the promoter."
(v) in paragraph 4 relating to Explanation, after clause (xii), the following clauses shall be inserted, namely: -
(c)
(d) ,,(xiii) an apartment booked on or before the 31't March,2019 shall mean an apartment which meets all the following three conditions, namely- (a) part of supply of construction of which has time of supply orior before the 31" March, 2019 and (b) at least one instalment has been credited to itre bank account of the registered person on or before the 31"'March, Z0l9 and(c) an allotment letter or sale agreem.rt ot any other similar document evidencing booking oiihe apartment has been issuedon or before the 31't March, 2019;
(xiv) the term "apartment" shall have the same meaning as assigned to it in clause (e) of section 2 of the Real Estate (Regulation and Development) Act,2016 (16 of 2016);
(xv) the term,,project" shall mean a real estate project or a residential real estate project;
(xvi) the term "affordable residential apartment" shall mean' -
(a) a residential apartment in a project which commences on or after 1tt April, 2019, or in an ongoing project in respect of which the promoter has not exercised option in the prescribed form to pay central tax on construction of apartments at the rates as specified for item (ie) or (if) against serial number 3, as the case may be, having carpet area not exceeding 60 square meter in metropolitan cities or 90 square meter in cities or towns other than metropolitan cities and for which the gross amount charged is not more than fortY five lakhs ruPees.
For the purpose of this clause, -
(i) Metropolitan cities are Bengaluru, Chennai, Delhi NCR (limited to Delhi' Noida, Greater Noida, Ghaziabad, Gurgaon, Faridabad), Hyderabad, Kolkata and Mumbai (whole of MMR) with their respective geographical limits prescribed by an order issued by the Central or State Government in this regard;
(ii) Gross amount shall be the sum total of; - A. Consideration charged for the services specified at item (i) and (ic) in column (3) against sl. No' 3 in the Table;
B. Amount charged for the transfer of land or undivided share of land, as thecasemaybeincludingbywayofleaseorsublease;and C.Anyotheramountchargedbythepromoterfromthebuyerofthe apartment including preferential location charges, development charges, parking charges, common facility charge setc';
(b) an apartment being constructed in an ongoing project under any of the schemes specified in sub-item (b), sub-item (c), sub-item (d), sub-item (da) and sub-item (db) of item (iv); sub-item (b), sub-item (c), sub-item (d) and sub-item (da) of item (v); and sub-item (c) of item (vi), against serial number 3 of the Table above, in respect of which the promoter has not exercised option to pay central tax on construction of apaftments at the rates as specified for item (ie) or (if) against serial number 3' as the case may be."
(xvii) the term o,promoter" shall have the same meaning as assigned to it in-in clause (zk) of section 2 of the RealEstate (Regulation and Development) Act,2016 (16 of 2016);
(xviii) the term "real estate project (REP)" shall have the same meaning as assigned to it in in clause (zn) of section 2 of the RealEstate (Regulation and Development) Act, 2016(16 of 2016);
(xix) 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.
(xx) the term "ongoing project" shall mean a project which meets all the following conditions, namely-
(a) commencement certificate in respect of the project, where required to be issued by the competent authority, has been issued on or before 3l't March,2019, and it is certified by any of the following that construction of the project has started on or before 3l't March, 2Ol9-
(i) an architect registered with the Council of Architecture constituted under the Architects Act, 1972 (20 of 1972); or
(ii) a chartered engineer registered with the Institution of Engineers (India); or
(iii) a licensed surveyor of the respective local body of the city or town or village or development or planning authority.
(b) where commencement certificate in respect of the project, is not required to be issued by the competent authority, it is certified by any of the authorities specified in sub- .iuur. (a) above that construction of the project has started on or before the 3l't March, 2019;
(c) completion certificate has not been issued or first occupation of the project has not taken place on or before the 3l't March, 201 9;
(d) apartments being constructed under the project have been, partly or wholly, booked on or before the 3l't March, 2019.
Explanation.-For the purpose of sub- clause (a) and (b) above , construction of a proj ect shall be considered to have started on or before the 3 1 " March, 2019 , if the earthwork for site preparation for the project has been completed and excavation for foundation has started on or before the 3 I't March, 20 I 9.
(xxi) "commencement certificate" means the commencement certificate or the building permit or the construction permit, by whatever name called issued by the competent authority to allow or permit the promoter to begin development works on an immovable property, as per the sanctioned plan;
(xxii) "development works" means the external development works and internal development works on immovable property;
(xxiii) "external development works" includes roads and road systems landscaping, water supply, seweage and drainage systems, electricity supply transformer, sub-station, solid waste management and disposal or any other work which may have to be executed in the periphery of,, or outside, a project for its benefit, as may be provided under the local laws;
10
(xxiv) ',internal development works" means roads, footpaths, water supply, Sewers, drains, p*t r, tree planting, street lighting, provision for community buildings and for treatment and iisposal oi ,.*ug. and sullage water, solid waste management and disposal, water conservation, energy ,unug"*-.nt, fire protection and fire safety requirements' social infrastructure such as educational health and other public amenities or any other work in a project for its benefit, as per sanctioned plans;
(xxv) the term "competent authority" as mentioned in definition of "commencement certificate" and "residential apartm.rt" , *.uns the local authority or any authority created or established under any law ior the time being in force by the Central Government or State Govemment or Union ierritory Government, which exercises authority over land under its jurisdiction, and has powers to give permission for development of such immovable property;
(xxvi) The term "carpet area" shall have the same meaning as assigned to it in Real Estate (Regulation and Development) Act, 20161,
(xxvii) the term "Real Estate Regulatory Authority" shall mean the Authority established under'sub- section (l) of section-2O (l) of the Real Estate (Regulation and Development) Act,2016 (No. 16 of 2016) by the Central Government or State Government;
(xxviii) "project which commences on than an ongoing Project;
or after I't April, 2019" shall mean a project other
(xxix) "Residential apartment" shall mean an apartment intended for residential use as declared to the Real Estate Regulatory Authority or to competent authority;
(xxx) ,,Commercial apartment" shall mean an apaftment other than a residential apartment;
(xxxi) ,,floor space index (FSI)" shall mean the ratio of a building's total floor area (gross iloor area; to the size of the piece of land upon which it is built;
2. This notification shall be deemed to have come into force with effect from the 1't day of April,2019.
By Order, -A5*l'^hr'-'(Alok Sinha) Apar Mukhya Sachiv 11 Annexure I Real estate proiect (REP) other than Residential Real estate proiect (RREP) Input tax credit attributable to construction of residential portion in a real estate project (REP) other than residential real estate project (RREP), which has time of supply on or after 1't April, 2019, shall be calculated project wise for all projects which commence on or after 1't April, 20l9or ongoing projects in respect of which the promoter has not exercised option to pay state tax on construction of apartments at the rates as specified for item (ie) or (if) against serial number 3, as the case may be, in the prescribed manner, before the due date for furnishing of the return for the month of September following the end of financial year 2018-19, in the following manner:
1. Where 7o completion as on 31't March. 2019 is not zero or where there is inventory in stock
(a) Input tax credit on inputs and input services attributable to construction of residential portion in a REP, which has time of supply on or after I't April, 2019, may be denoted as Tx. Tx shall be calculated as under:
Tx:T-Te Where,
(i) T is the total ITC availed (utilized or not) on inputs and input services used in construction of the REP from 1't July, 2017 to 31't March,2019 including transitional credit taken on 1't July, 2017;
(ii) Te is the eligible ITC attributable to (a) construction of commercial portion and
(b) construction of residential portion, in the REP which has time of supply on or before 31't March, 2019;
(b) Te shall be calculated as under:
Te:Tc*Tr Where, - Tc is the ITC attributable to construction of commercial portion in the REP, calculated as under:
Tc :T * (carpet area of commercial apartments in the REP/ total carpet area of commercial and residential apartments in the REP) and Tr is the ITC attributable to construction of residential portion in the REP which has time of supply on or before 3 l't March, 2019 and which shall be calculated as under, Tr: T* Fr * Fz * F:* F+ 72 Where, - Fr: Carpet area of residential apartments in REP Total carpet area of commercial and residential apartments in the REP Total carpet area of residential apartment booked on or before 31't March,20l9 Fz= F::
Total carpet area of the residential apartment in REP Such Value of supply of construction of residential apartments booked on or before 31't March, 2019 which has time of supply on or before 3l't March, 2019 Total value of supply of construction of residential apartments booked on or before 3l't March, 2019 (F3 is to account for percentage invoicing of booked residential apartments) F+:
% Completion of construction as on 31't March, 2019
Illustration: where one- fifth (twenty percent) of the construction has been completed, Fa shall be 100 + 20:5.
Explanation:"%oCompletion of construction as on 31ttMarch, 2079" shall be the same as declared to the Real Estate Regulatory Authority in terms of section 4 and section 1 1 of Real Estate (Regulation and Development) Act,2016 (16 of 2016)and where the same is not required to be declared to the Real Estate Regulatory Authority, it shall be got determined and certified by an architect registered with the Council of Architecture constituted under the Architects Act, 1972 (20 of 1972) or a chartered engineer registered with the Institution of Engineers (India).
(c) A registered person shall have the option to calculate 'Te' in the manner prescribed below instead of the manner prescribed in (b) above,- Te shall be calculated as under:
Te:Tc+Tl +Tr Where, - Tc is the ITC attributable to construction of commercial portion in the REP, calculated as under:
Tc :T3 * (carpet area of commercial apartments in the REP/ total carpet area of commercial and residential apartments in the REP);
13 Wherein T3 = T- (T1 + T2) T1 = ITC affributable exclusively to construction of commercial portion in the REP T2: ITC attributable exclusively to construction of residential portion in the REP and Tr is the ITC attributable to construction of residential portion in the REP which has time of supply on or before 31.03.2019 and which shall be calculated as under, Tr: (T3 + T2)* Fr * Fz * F:* F+ or Tr: (T- T1)* Fr * F2 * F3* Fa
(d) The amounts 'Tx' and 'Te' shall be computed separately for input tax credit of central tax, State tax, Union territory tax and integrated tax.
(e) Where, Tx is positive, i.e. Te<T, the registered person shall pay, by debit in the electronic credit ledger or electronic cash ledger, an amount equal to the difference between T and Te. Such amount shall form part of the output tax liability of the registered person and the amount shall be furnished in FORM GST ITC- 03.
Explanation: The registered person may file an application in FORM GST DRC- 20, seeking extension of time for the payment of taxes or any amount due or for allowing payment of such taxes or amount in installments in accordance with the provisions of section 80. The commissioner may issue an order in FORM GST DRC- 2l allowing the taxable person further time to make payment and/or to pay the amount in such monthly installments, not exceeding twenty-four, as he may deem fit.
(0 Where Tx is negative, i.e. Te>T, the registered person shall be eligible to take ITC on goods and services received on or after ltt April, 2019 for construction of residential portion in the REP, for which he shall not otherwise be eligible, to the extent of difference between Te and T.
(g) The registered person may calculate Tc and utilize credit to the extent of Tc for payment of tax on commercial apartments, till the complete accounting of Tx is carried out and submitted.
(h) Where percentage completion is zero but ITC has been availed on goods and services received for the project on or prior to 3l'tMarch,2019, input tax credit attributable to construction of residential portion which has time of supply on or after l't April,2019, shall be calculated and the amount equal to Tx shall be paid or taken credit of, as the case may be, as prescribed above, with the modification that percentage completion for calculation of F+ shall be taken as the percentage completion which, as certified by an architect registered with the Council of Architecture constituted under the Architects Act, 1972 (20 of 1972) or a chartered engineer registered with the Institution of Engineers L4 (India), can be achieved with the input services received and inputs in stock as on 31'tMarch,2019.
2. Where %o comnletion as on 3lst March. 2019 is zero but invoicing has been done having time of supply before 31st March" 2019.and no input services or inputs have been received as on 31st March. 2019" "Te" shall be calculated as follows: -
(a) Input tax credit on inputs and input services attributable to construction of residential portion in a REP, which has time of supply on or before 31't March, 2019 may be denoted as Te which shall be calculated as under, Te: Tc t Tr Where, - Tc is the ITC attributable to construction of commercial portion in the REP, calculated as under:
Tc :Tn* (carpet area of commercial apartments in the REP/ total carpet area of commercial and residential apartments in the REP) and Tr is the ITC attributable to construction of residential portion in the REP which has time of supply on or before 31't March, 2019 and which shall be calculated as under, Tr=Tn*F1*F2*F3 Where, - Tn: Tax paid on such inputs and input services on which ITC is available under the UPSGST Act, receivedin2019-20 for construction of REP F1, F2 and F3 shall be the same as in para 1 above
(b) The registered person shall be eligible to take ITC on goods and services received on or after 1't April, 2019 for construction of residential portion in the REP, for which he shall not otherwise be eligible, to the extent of the amount of Te.
(c) The amount 'Te' shall be computed separately for input tax credit of central tax, State tax, Union territory tax and integrated tax.
3. Notwithstanding anything contained in paragraph 1 or paragraph 2 above, Te shall be determined in the following situations as under:
(i) where percentage invoicing is more than the percentage completion and the difference between percentage invoicing (per cent. points)and the percentage completion(per cent. points) of construction is more than 25 percent. points; the value of percentage invoicing shall be deemed to be percentage completion plus 25 percent. points;
(ii) where the value of invoices issued on or prior to 31't March, 2019 exceeds the consideration actually received on or prior to 3l't March, 2019 by more than 25 percent of consideration actually received; the value of such invoices for the 15 , purpose of determination of percentage invoicing shall be deemed to be actual consideration received plus 25 percent. ofthe actual consideration received; and
(iii) where, the value of procurement of inputs and input services prior to l't April, 2019 exceeds the value of actual consumption of the inputs and input services used in the percentage of construction completed as on 31't March, 2019 by more than 25 percent. of value of actual consumption of inputs and input services, the jurisdictional commissioner or any other officer authorized in this regard may fix the Te based on actual per unit consumption of inputs and input services based on the documents duly certified by a chartered accountant or cost accountant submitted by the promoter in this regard, applying the accepted principles of accounting.
By Order, (Alok Sinha) Apar Mukhya Sachiv 16 lllustration l:
Deteils of a REP (Res + Com) sr. N A B C D I No. of aoartments in the Proiect 100 units 2 No. of residential apartments in the proiect 75 units J Carpetareaofthe@ 70 som 4 Total camet area of the residential apaftmenb C2* C3 5250 iom 5 value of each residential apartment 0.60 crore 6 Iotal value ofthe residential apartments C2*C5 45.00 crore 7 No. of commercial apartments in the proiect 25 units 8 Camet area of the commercial apartment 30 ;qm 9 Total carpet area of the commercial apartmen C7*C8 750 ;qm l0 fotal carcet area of the pro.ies!1Bq!ifq.9gl) C4+C9 6000 tqm ll Percentage completion as on 0 I .04.20 19 [as declared to RERA or dett bv chertered engineerl rmined 20% t2 No ofresidential apartments booked before transition 40 units l3 Total caroet area of the residential apart@ ctz * c3 2800 sqm t4 Value of booked residential apartments c5 * c12 24 crore 15 Percentage invoicing ofbooked residential apartments on or before
31.03.2019 20% t6 fotal value ofsupplv ofresidential apartments having t.o.s' prior to tr nsition Cl4 * C15 4.8 crore t7 tTC to be reversed on transition, Tx= T- Te l8 Elisible ITC (Te)= Jg + Tr 19 T (*see notes belo'qq) I ffore 20 Tc= T x (carpet area of commercial apafiments in the REP/ total carpr of commercial and residential apartments in the REP) ut.u Cl9 x (C9l Cl0) 0.125 lrore 2t Ir:TxFlxF2xF3xF4 22 F1 c4 / c10 0.875 ZJ F2 c13 I C4 0.53 24 F3 ct6 I C14 0.200 25 F4 l/cll 5 26 Tr:TxFlxF2xF3xF4 19*C22*C23*C24*C ,.5 0.467 ctore 2T Elisible ITC (Te)=Tc + Tr C26 + C20 0.592 crore 28 ITC to be reversed on tr@qIiQ!LTI=-I:-f.9. ctg - c27 0.408 crore x Note:- l. The value ofT at Cl9 has been estimated for illustration based on weighted average tax on inputs.
2. In actual practice, the registered person shall take 'aggregate of ITC taken as declared in GSTR-3B of tax periods from Odflt6efl@rnnt of project which is later and transitional credit taken under section I 40 of UPSGST Act' as value ofT' 17 Sl. No Details of a REP (Res + Com) A B C D 1 No. ofaDartments in the oroiect 100 2 No. ofresidential apartments in the Droiect 75 unlts , Carpet area ofthe residential apartment 70 som 4 Intrl .rrnet rrP, nfthe recr'dentia C2*C3 5250 sqm 5 value of each residential aDartment 060 crore 6 Total value ofthe residential aDartments a?*c5 4s.00 crore 7 No. olcommercial aDartments in the proiect 25 unrts 8 Camet area of the commercial apartment 30 s0m T^tel .emet crc, nf the nnmmernial a7*aq 7so 10 Iotal carDet area ofthe oroiect (Resi + Com) C4+C9 6000 som ll Percentage completion (Pc) as on 01.04.2019 [as declared to RERA or determined by chertered engineerl ,iloa No ofresidential apartments booked before transition 40 unrts l3 T'6trl .rrhpt arp, nfthc re<idpntirl an2dmpntc hnnlred hefnre t cl2 + c3 2800 sqm 14 Value of booked residential anartments c5 * cl2 24 crore l5 Percenlroe invnicins nfhonked residenfiel 2n2frmpnie nn or hpfnre 1l Ol rO 6 0,/;
6 Iotal value of suDDlv of residential aDartments havins t o s nrior to transitiol ct4 * c15 4.4 crore 1 ITC to be reversed on transition. Tx= T- Te 8 Elieible ITC (Te)= Tc + Tr o (*see notes below) CTOIE 20 Ic: T x (carpet area of commercial apartments in the REP/ total carpet area :ommercial and residential anartments in the REP) c l9 * (c9l cl0) 0.125 crore 2t Ir:TxF1 xF2xF3xF4 22 FI c4lcr0 0 875 23 F2 c13/C4 0 533 F3 c16 tc14 0 600 25 F4 /ct 5 26 Ir:TxFl xF2xF3xF4 ct9*c22*c23*C24+C2< 1.400 crore 27 Elisible ITC (Te)=Tc + Tr c26 + C20 |.525 crore 28 TC to he reverqed/ taken nn frnn<ition Tv: T- Tr ct9 - c27 -0.525 crore 29 Tx after aoolication ofcaD on oZ invoicine vis-a-vis Pc 30 Zo completion 20v" 3 ,i 60v" 32 /o invoicins after aDDlication ofcaD(Pc + 25%) l+25yo 450/o 33 Iotal value ofsupply olresidential aDartments havine t.o.s. Drior to transitior cl4*C32 10.80 Srore F3 after application ofcap c33lct4 0.4s 35 Ir= T x Fl x F2 x F3 x F4 (after application ofcap) 19*C22*C23*C34*C25 1.05 Srore 36 Elieible ITC (Te)=Tc + Tr (after application ofcap) c?0 + a?5 18 3rore 37 [e1;1l be reversed / taken on transition, Tx: T- Te (after application ofcap) c19 - C36 -0.18 3rore
Illustration 2:
* Note:- l. The value ofT at Cl t has been estimated for illustration based on weighted average tax on inputs.
2. In actual practice, the registered person shall take raggregate of ITC taken as declared in GSTR-3B of tax periods from 1 .7 .2017 or commencemnt ofproject which is later and transitional credrt taken under section 140 ofUPSGST Act' as value ofT.
By Order,.
.--\.Q,.:"1# (Alok Sinha) Apar Mukhya Sachiv 38 Ix after aoolication ofcao on o% invoicins vis-a-vis Pc and navment realisatir 39 Zo invoicins after aoolication ofcao(Pc + 25Yo\ 45% 40 lotal value oflsuoolv ofresidential aDartments havins t.o.s. orior to transitior C3 080 crore 41 lonsiderafion 800 lotal value ofsupply ofresidential apartments having t.o.s. prior to transrtior rfter application of caD vis-a-vis consideration received 8cr+25%of8Cr 10.00 crore 43 3 after application ofboth the caps c42 tct4 0.42 44 fr= T x Fl x F2 x F3 x F4 (after application ofboth the caDs) ct9 * c22* c23 * C43 * C21 0.91 45 F.liqihle ITC lTe):Tc * Tr t'aiicr ennlication nf hnth thc c20 + c.4 t0 46 ITC to be reversed / taken on transition, Tx: T- Te (after application ofboth cans) ctq - (-45 -0 r0 crore 18 rnrts 1) Annexure II Inputtaxcreditattributabletoconstructionofresidentialandcommercialportionin a Residential Real estate project (RREP), which has time of supply on or after l't April' 2019, shall be calculated project wise for all projects which commence on or after 1't April' 2019 or ongoing projects in respect of which the promoter has not exercised option to pay state tax on construction of apartments at the rates as specified for item (ie) or (if) against serial number 3, as the case may be, in the prescribed manner, before the due date for furnishing of the return for the month of September following the end of financial year 2018-19, in the following manner:
1.
inventorv in stock
(a) Input tax credit on inputs and input services attributable to construction ofresidential and commercial portion in an RREP, which has time of supply on or after 1't April' 2019' may be denoted as Tx. Tx shall be calculated as under:
Tx=T-Te Where,
(i) T is the total ITC availed (utilized or not) on inputs and input services used in construction of the RREP from l't July,2017 to 3l'tMarch' 2019 including transitional credit taken on l't July, 2017;
(iD Te is the eligible ITC attributable to construction of commercial portion and construction of residential portion, in the RREP which has time of supply on or before 3 1'tMarch, 201 9;
(b) Te shall be calculated as under:
Te: T* Ft * Fz * F:* F+ Where, Fr: Carpet area of residential and com rtments in the RREP the RREP (In case of a Residential Real Estate Project, value of ..F1,, shall be 1.)
Totalcarpetareaofresidentialandcommercialapartmentbookedon or before 3 lttMarch, 201 9 Totalcarpetarcaoftheresidentialandcommercialapartmentinthe RREP Fz:
19 Such value of supply of construction of residential and commercial apartments booked on or before 3l"March,2019 which has time of supply on or before 31'tMarch, 2019 F::
Total value of supply of construction of residential and commercial apartments booked on or before 31'tMarch, 2019 (F3 is to account for percentage invoicing of booked residential apartments) F+:
% Completion of construction as on 3 I'tMarch, 201 9
Illustration: where one- fifth (twenty percent) of the construction has been completed, Fa shall be 100 + 20 : 5.
Explanation "o/o Completion of construction as on 3l'March, 2019" shall be the same as declared to the Real Estate Regulatory Authority in terms of section 4 and section 11 of Real Estate (Regulation and Development) Act,2016 and where the same is not required to be declared to the Real Estate Regulatory Authority, it shall be got determined and certified by an architect registered with the Council of Architecture constituted under the Architects Act, 1972 (20 of 1972) or a chartered engineer registered with the Institution of Engineers (India).
(c) The amounts 'Tx' and 'Te' shall be computed separately for input tax credit of central tax, State tax, Union territory tax and integrated tax.
(d) Where, Tx is positive, i.e.Te<T, the registered person shall pay, by debit in the electronic credit ledger or electronic cash ledger, an amount equal to the difference between T and Te. Such amount shall form part of the output tax liability of the registered person and the amount shall be furnished in FORM GST ITC- 03.
Explanation: The registered person may file an application in FORM GST DRC- 20, seeking extension of time for the payment of taxes or any amount due or for allowing payment of such taxes or amount in installments in accordance with the provisions of section 80. The commissioner may issue an order in FORM GST DRC- 21 allowing the taxable person further time to make payment and/or to pay the amount in such monthly installments, not exceeding twenty-four, as he may deem fit.
(e) Where, Tx is negative, i.e.Te>T, the registered person shall be eligible to take ITC on goods and services received on or after l't April, 2019for construction of the RREP, for which he shall not otherwise be eligible, to the extent of difference between Te and T.
(0 Where percentage completion is zero but ITC has been availed on goods and services received for the project on or prior to 31'tMarch,2019, input tax credit attributable to construction of residential and commercial portion which has time of supply on or after l't April, 2019, shall be calculated and the amount equal to Tx shall be paid or taken credit of, as the case may be, as prescribed above, with the modification that percentage completion for calculation of F+ shall be taken as the percentage completion which, as 20 certified by an architect registered with the Council of Architecture constituted under the Architects Act, 1972 (20 of 1972) or a chartered engineer registered with the Institution of Engineers (India), can be achieved with the input services received and inputs in stock as on 3l'tMarch, 2019.
2. Where 7o completion as on 3lst March. 2019 is zero but invoicing has been done having time of supply before 31st March. 2019" and no input services or inputs have tleen received as on 31st March.2019. "Te" shall be calculated as follows: -
(a) Input tax credit on inputs and input services attributable to construction of residential and commercial portion in an RREP, which has time of supply on or before 31'tMarch, 20l9may be denoted as Te which shall be calculated as under, Te=Tn*F1*F2*F3 Where, - Tn: Tax paid on such inputs and input UPSGST Act, received in 2019-20 for apartments in the RREP.
services on which ITC is available under the construction of residential and commercial Fl, F2 and F3 shallbe the same as in para I above
(b) The registered person shall be eligible to take ITC on goods and services received on or after l't April, 2019 for construction of residential or commercial portion in the RREP, for which he shall not otherwise be eligible, to the extent of the amount of Te.
(c) The amount 'Te' shall be computed separately for input tax credit of central tax, State tax, Union territory tax and integrated tax.
3. Notwithstanding anything contained in paragraph I or paragraph 2 above, Te shall be determined in the following situations as under:
(i) where percentage invoicing is more than the percentage completion and the difference between percentage invoicing (per cent. points) and the percentage completion (per cent. points) of construction is more than 25 percent points; the value of percentage invoicing shall be deemed to be percentage completion plus 25 percent. points;
(ii) where the value of invoices issued on or prior to 31'tMarch, 20l9exceeds the consideration actually received on or prior to 3l'tMarch, 2}19by more than 25 per cent of consideration actually received; the value of such invoices for the purpose of determination of percentage invoicing shall be deemed to be actual consideration received plus 25 per cent ofthe actual consideration received; and
(iii) where, the value of procurement of inputs and input services prior to l't April, 2019 exceeds the value of actual consumption of the inputs and input services used in the percentage of construction completed as on 3l'tMarch, 2019 by more than 25 per cent of value of actual consumption of inputs and input services, the jurisdictional commissioner or any other officer authorized in this regard may fix
21.
the Te based on actual per unit consumption of inputs and input services based on the documents duly certified by a chartered accountant or cost accountant submitted by the promoter in this regard, applying the accepted principles of accounting.
(Atok Sinha) Apar Mukhya Sachiv By Order, 22
Illustration 1:
*Note:-
1. The value ofT at C14 has been estimated for illustration based on weighted average tax on inputs.
2. ln actual practice, the registered person shall take 'aggregate of ITC taken as declared in GSTR-3B oftax periods from $r'&Qfltrflencemnt ofproject which is later and transitional credit taken under section 140 ofUPSGST Act'as value ofT.
Sl No Details of a residential proiect (RR-EP) A B C D I No. of apartments in the proiect 100 rrnils 2 No. ofresidential apartments in the proiect 100 r rnits J Camet area of the residential apartment 70 som 4 Total camet area of the residential aDartments C2* C3 7000 som value of each residential aDartment 0.60 crore 6 Percentage completion as on 0l .04.20 l9 [as declared to R-ERA or determined b chertered ensineerl 20% 7 No nf anartments hnnked hefore transiti 80 rnits 8 Total camet area ofthe residential aoartment booked before transition C3*C7 5600 sqm 9 Value of booked residential aDartments C5*C7 48 crore 0 Percentase invoicins of booked residential aDartments on or before 3 I .03.20 I 9 20% I Total value ofsupply ofresidential apartments having t.o.s. prior to transition c9 * cl0 9.6 crore 2 ITC to be reversed on transition. Tx: T- Te J Elieible ITC (Te):T x Fl x F2 x F3 x F4) 4 T (*see notes below) 5 FI 6 F2 C8/C4 0.8 7 F3 cil /c9 0.2 8 F4 tl c6 9 Elieible ITC (Te)=T x Fl x F2 x F3 x F4) c14*Cl5*Cl6*Cl7*C18 0.8 crore 20 ITC to he reversed on transitinn Tx: T- T ct4 - c19 0.2 crore 23 .5 5
Illustration 2:
*Note:-
1. The value ofT at Cl4 has been estimated for illushation based on weighted average tax on inputs.
2. In actual practice, the registered person shall take'aggregate ofITC taken as declared in GSTR-3B oftax periods from 0oTtt00flconrnt ofproject which is later and transitional credit taken under section 140 ofUPSGST Act'as value ofT.
Bv Order. ' \ rr-"$N (Alok SiHhi) Apar Mukhya Sachiv SI No Details of a residential proiect (RREP) A B C D 1 No. of apartments in the oroiect r00 units No. of residential apartments in the proiect 100 units l Carpet area ofthe residential apartment '70 sqm 4 Iotal camet area of the residential apartments C?*CJ 7000 sqm value of each residential apartment 0.60 crore 6 Percentage completion as on 01.04.2019 [as declared to RERA or determined chertered ensineerl ,t:.'.Z9t,1.
7 No ofapartments booked before transition 80 ifq 8 Iotal carpet area ofthe residential apartment booked before transition CJ*C7 5600 som 9 Value of booked residential anartments C5*C7 48 0 Percentage invoicing of booked residential apartments on or before 3 1.03.20 I t :'6fio/;
I Iotal value ofsupply ofresidential apartments having t.o.s. prior to transition c9 * cl0 28.8 crore 2 tTC to be reversed on transition. Tx= T- Te J Elisible ITC (Te)=T x Fl x F2 x F3 x F4) 4 I (*see notes below) 5 FI 6 F2 c8/c4 0.8 7 F3 ctt / c9 0.6 8 F4 t/ c6 9 Elisible ITC (Te)=T x Fl x F2 x F3 x F4) cl4*cl5*c16*c17*cl 2.4 20 ITC to be reversed on transition. Tx= T- Te c14 - Cl9 1.4 crore 2t Ix after aoolication ofcan on %n invoicins vis-a-vis Pc 22 % completion 20% 23 % invoicine 60% 24 oZ invoicins after aoolication ofcao(Pc + 25ol"| c6 + 25 o/o 45Yo 25 Iotal value ofsupply ofresidential apartments havins t.o.s. prior to transition Cg * C?4 21.60 26 F3 after aoolication ofcao c2stc9 0.4s 27 Te= T x Fl x F2 x F3 x F4 (after aoolication ofcao) ct4 * cl5 * c16 * c26 * cl 1.80 28 ITC to be reversed / taken on transition, Tx= T- Te (after application of cap) ct4 - c27 -0.80 29 fX after application ofcap on 7o invoicing vis-a-vis Pc and payment realisatior 30 o/o invoicins after aoolication ofcao(Pc + 257") 45Y" 3l Tqtal value ofsupply ofresidential apartments having t.o.s. prior to transition c2s 2t.60 32 consideration received 16.00 33 Total value of supply of residential apartments having t.o.s. prior to transition application of cap vis-a-vis consideration received ttt 16.r* 25%oof16Cr 20.00 34 F3 after annlication ofboth the cans c33/C9 0.42 35 Te= T x Fl x F2 x F3 x F4 (after application ofboth the caps) cl4 * cl5 * cj4 * c.)6* c.1 1.67 36 ITC to be reversed / taken on transition, Tx: T- Te (after application ofboth tt caps) c14 - C35 -0.67 24 .5 Annexure lll
Illustration 1:
A promoter has procured following goods and services [other than capital goods and services by way of grant of development rights, long term lease of land or FSI] for construction of a residential real estate project during a financial year.
SL No.
Name of input goods and services oh age of input goods and services received during the financial year Whether inputs received from registered supplier?
(Y/ N) 1 Sand l0 Y 2 Cement 15 N J Steel 20 Y 4 Bricks l5 Y 5 Flooring tiles 10 Y 6 Paints 5 Y 7 Architect/ designing/ CAD drawing etc.
t0 Y 8 Aluminium windows, Ply, commercial wood t5 Y In this example, the promoter has procured 80 per cent of goods and services fother 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), electricity, high speed diesel, motor spirit, natural gas], from a GST registered person. However, he has procured cement from an unregistered supplier. Hence at the end of financial year, the promoter has to pay GST on cement at the applicable rates on reverse charge basis.
Illustration 2:
A promoter has procured following goods and services [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), electricity, high speed diesel, motor spirit, natural gas], for construction ofa residential real estate project during a financial year.
sl.
No.
Name of input goods and services o/. age of input goods and services received during the financial year Whether inputs received from registered supplier?
(Y/ N) 1 Sand 10 Y 2 Cement 15 Y J Steel 20 Y 4 Bricks 15 Y 5 Flooring tiles 10 Y 6 Paints 5 N 7 Architect/ designing/ CAD drawing etc.
10 Y 8 Aluminium windows, PIy, 15 N 25 commercial wood In this example, the promoter has procured 80 per cent of goods and services including cement from a GST registered person. However, he has procured paints, aluminum windows, ply and commercial wood etc. from an unregistered supplier. Hence at the end of financial year, the promoter is not required to pay GST on inputs on reverse charge basis.
Illustration 3:
A promoter has procured following goods and services [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), electricity, high speed diesel, motor spirit, natural gas], for construction ofa residential real estate project during a financial year.
In this example, the promoter has procured 50 per cent of goods and services from a GST registered person. However, he has procured sand, cement and aluminum windows, ply and commercial wood etc. from an unregistered supplier. Thus, value of goods and services procured from registered suppliers during a financial year falls short of threshold limit of 80 per cent. To fulfill his tax liability on the shortfall of 30 per cent from mandatory purchase, the promoter has to pay GST on cement at the applicable rate on reverse charge basis. After payment of GST on cement, on the remaining shortfall of l5 per cent., the promoter shall pay tax@ l8 per cent under RCM.
By Order,.
'-\.'u#(AlokSinha) Apar Mukhya Sachiv st.
No.
Name of input goods and services '/o age of input goods and services received during the financial year Whether inputs procured from registered supplier?
(Y/ N) I Sand l0 N 2 Cement 15 N J Steel l5 Y 4 Bricks l0 Y 5 Flooring tiles l0 Y 6 Paints 5 Y 7 Architect/ designing/ CAD drawing etc.
10 Y 8 Aluminium windows 15 N 9 Ply, commercial wood 10 N 26 I L.
To Annexure IV FORM (Form for exercising one time option to pay tax on construction of apartments in a project by the promoters at the rate as specified for item (ie) or (if). against serial number 3 in the Table in this notification, as the case may be, by the lOth of May ,2}lg) Reference No. Date (To be addressed to the jurisdictional Commissioner) I. GSTIN:
2. RERA registration Number of the Project:
3. Name of the project, if any:
4. The location details of the project, with clear demarcation of land dedicated for the project along with its boundaries including the longitude and latitude of the end points ofthe project:
5. The number, type and the carpet area of apartments for booking or sale in the project:
6. Date of receipt of commencement certificate:
Declaration l. I hereby exercise the option to pay tax on construction of apartments in the above mentioned project as under :
I shall pay tax on construction of the apartments:
(put fll in appropriate box) At the rate as specified for item (ie) or (i0, against serial number 3 in the Table in this notification, as the case may be At the rate as specified for item (i) or (ia) or (ib) or (ic) or (id), against serial number 3 in the Table in this notification, as the case mav be
2.
3.
I understand that this is a onetime option, which once exercised, shall not be allowed to be changed.
I also understand that invoices for supply of the service can be issued during the period from I't April 2019 to l0th May 2Ol9 before exercising the option, but such invoices shall be in accordance with the option being exercised herein.
Signature Name Designation Place Date 27