Central Tax (Rate) Notification No 04 of 2018 dt 25th January, 2018 under GST

  

Notification no 04/2018 Central Tax (Rate) date on 25th January, 2018, GST

 

Seeks to provide special procedure with respect to payment of tax by registered person supplying service by way of construction against transfer of development right and vice versa.

The extract of GST Notification No. 04/2018- Central Tax (Rate) is given below: 

Notification No. 04/2018- Central Tax (Rate), GST

 

 

[TO BE PUBLISHED IN THE GAZZETE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]

 

Government of India

Ministry of Finance

(Department of Revenue)

 

Notification No. 4/2018-Central Tax (Rate)

 

New Delhi, the 25th January, 2018

 

 

G.S.R......(E).- In exercise of the powers conferred by section 148 of the Central Goods

 

and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby notifies the following classes of registered persons, namely :-

 

(a)      registered persons who supply development rights to a developer, builder, construction company or any other registered person against consideration, wholly or partly, in the form of construction service of complex, building or civil structure; and

 

(b)   registered persons who supply construction service of complex, building or civil

 

structure to supplier of development rights against consideration, wholly or partly, in the form of transfer of development rights,

 

as the registered persons in whose case the liability to pay central tax on supply of the said services, on the consideration received in the form of construction service referred to in clause

 

(a)  above and in the form of development rights referred to in clause (b) above, shall arise at the time when the said developer, builder, construction company or any other registered person, as the case may be, transfers possession or the right in the constructed complex, building or civil structure, to the person supplying the development rights by entering into a conveyance deed or similar instrument (for example allotment letter).

 

 

[F. No.354/13/2018 -TRU]

 

 

(Ruchi Bisht)

Under Secretary to the Government of India

 

 

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