West Bengal notifies certain services to be taxed under RCM for real estate sector

Apr 04, 2019 | by Avantis RegTech Legal Research Team


The State Government of West Bengal on March 29, 2019, has notified that the registered person, shall in respect of supply of certain goods or services or both, received from an unregistered supplier shall pay tax on reverse charge basis as recipient of such goods or services or both.

The Category of supply of goods and services and Recipient of goods and services, are as under:

Sl. No.

Category of supply of goods and services

Recipient of goods and services

(1)

(2)

(3)

1

Supply of such goods and services or both [other than services by way of grant of development rights, long term lease of land or Floor Space Index (FSI) (including additional FSI)] which constitute the shortfall from the minimum value of goods or services or both required to be purchased by a promoter for construction of project, in a financial year (or part of the financial year till the date of issuance of completion certificate or first occupation, whichever is earlier) as prescribed in notification No.1135-F.T.[11/ 2017 –State Tax (Rate)], dated 28th June, 2017.

Promoter

2

Cement falling in chapter heading 2523 in the first schedule to the Customs Tariff Act, 1975 which constitute the shortfall from the minimum value of goods or services or both required to be purchased by a promoter for construction of project, in a financial year (or part of the financial year till the date of issuance of completion certificate or first occupation, whichever is earlier) as prescribed in notification No. 1135-F.T. [11/ 2017-State Tax (Rate)], dated 28th June, 2017

Promoter

3

Capital goods falling under any chapter in the first schedule to the Customs Tariff Act, 1975 supplied to a promoter for construction of a project on which tax is payable or paid at the rate prescribed for items (i), (ia), (ib), (ic) and (id) against serial number 3 in the Table, in notification No. 1135-F.T. [11/ 2017-State Tax (Rate)], dated 28th June, 2017.

Promoter

 

[Notification No. 07/2019- State Tax (Rate)( 556-F.T)]

Click here to download the Notification.

 


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