RCM on Builders and Developers under GST

Notification No. 05/2019-Union Territory Tax (Rate) –

Seeks to amend notification No. 13/2017- Union

Territory Tax (Rate) so as to specify services to

be taxed under Reverse Charge Mechanism (RCM)

as recommended by Goods and Services Tax

Council for real estate sector.

If promoter (Builder/developer) fails to purchase at least 80% of

the value of input and input services, from registered suppliers.
On TDR or floor space index supplied on or after 01-04-2019 and GST on development rights shall arise on the date of completion or first occupation of the project, whichever is

earlier.
Differential tax arising on procurement of works contract services

in relation to construction of affordable residential apartments, if

50% criteria mentioned therein is not met.