AAR: Sale of Transferable Development Rights (TDR)/ Floor Space Index (FSI) taxable at 18%

Feb 11,2020

Maharashtra AAR holds that GST is chargeable at the rate of 18% under Heading 9972 on sale of Transferable Development Rights (TDR)/ Floor Space Index (FSI) received as consideration for surrendering the joint rights in land in terms of Development Control Regulations; Notes that such rights have been granted in light of the article of agreement entered between the applicant and Pune Municipal Corporation (PMC); Clarifies that vide Notification No. 5/2019-Central Tax (Rate), ...


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