Amendments in GST Notification for Real Estate Transactions

Central Government amends GST notification regarding real estate transactions. Services related to transfer of development rights or Floor Space Index (FSI) now taxable.

Long-term lease of land for construction projects also subject to GST.

Definitions provided for terms like "apartment," "promoter," "project," and "Residential Real Estate Project (RREP)."

Amendment effective from April 1, 2019, aims to streamline tax regulations in real estate. Pramod Kumar, Deputy Secretary to the Government of India, issues the notification.