Notification, 2019

Text

Reproduced from the document India Code holds for this instrument. The Gazette prints Hindi and English side by side and this is the English; the Department's own PDF remains the authority.

PART III

GOVERNMENT OF PUNJAB

DEPARTMENT OF EXCISE AND TAXATION

(EXCISE AND TAXATION BRANCH-II)

NOTIFICATION

The 18th July, 2019

No. S.O.77/P.A.5/2017/S.9/Amd./2019.- In exercise of the powers conferred by sub-section (3) of section 9 of the Punjab Goods and Services Tax Act, 2017 (Punjab Act No.5 of 2017), and all other powers enabling him in this behalf, the Governor of Punjab, on the recommendations of the Council, is pleased to make the following amendment in the Government of Punjab, Department of Excise and Taxation, Notification No.S.O.35/P.A.5/ 2017/S.9/2017, dated the 30thJune, 2017, published in the Punjab Government Gazette (Extraordinary), Part III, dated the 30thJune, 2017, namely:-

AMENDMENT

In the said notification, -

(i) in the Table, after serial number 5A and the entries relating thereto, the following serial number and entries shall be inserted, namely: - “5B Services supplied by any person by way of Any person Promoter. transfer of development rights or Floor Space Index (FSI) (including additional FSI) for construction of a project by a promoter.

5C Long term lease of land (30 years or more) Any person Promoter.”; by any person against consideration in the form of upfront amount (called as premium, salami, cost, price, development charges or by any other name) and/or periodic rent for construction of a project by a promoter.

(ii) in the Explanation, after clause (h), the following clauses shall be inserted, namely: - “(i) The term “apartment” shall have the same meaning as assigned to it in clause (e) under section 2 of the Real Estate (Regulation and Development) Act, 2016 (16 of

(j) the term “promoter” shall have the same meaning as assigned to it in clause (zk) under section 2 of the Real Estate (Regulation and Development) Act, 2016 (16 of

PUNJAB GOVT. GAZ. (EXTRA), JULY 23, 2019

(SRVN 1, 1941 SAKA)

(k) the term “project” shall mean a Real Estate Project (REP) or a Residential Real Estate Project (RREP);

(l) “the term “Real Estate Project (REP)” shall have the same meaning as assigned to it in in clause (zn) of section 2 of the Real Estate (Regulation and Development) Act, 2016 (16 of 2016).

(m) The term “Residential Real Estate Project (RREP)” shall mean a REP in which the carpet area of the commercial apartments is not more than 15 per cent. of the total carpet area of all the apartments in the REP.

(n) “floor space index (FSI)” shall mean the ratio of a building’s total floor area (gross floor area) to the size of the piece of land upon which it is built.”.

2. This notification shall be deemed to have come into force on and with effect from 01st day of April, 2019.

M.P. SINGH,

Additional Chief Secretary-cum- Financial Commissioner (Taxation) to Government of Punjab, Department of Excise and Taxation.

PUNJAB GOVT. GAZ. (EXTRA), JULY 23, 2019

(SRVN 1, 1941 SAKA)