EXTRAORDINARY

PUBLISHED BY AUTHORITY

No. 654 CUTTACK, SATURDAY, MARCH 30, 2019/CHAITRA 9, 1941

FINANCE DEPARTMENT

NOTIFICATION

The 30th March, 2019

S.R.O. No.120/2019— In exercise of the powers conferred by Section 148 of the Odisha

Goods and Services Tax Act, 2017 (Odisha Act 7 of 2017), the State Government, on the

recommendations of the Goods and Services Tax Council, hereby notifies the following classes of

registered persons, namely:—

(i) a promoter who receives development rights or Floor Space Index (FSI) (including

additional FSI) on or after 1^st April, 2019 for construction of a project against consideration

payable or paid by him, wholly or partly, in the form of construction service of commercial

or residential apartments in the project or in any other form including in cash;

(ii) a promoter, who receives long term lease of land on or after 1^st April, 2019 for construction

of residential apartments in a project against consideration payable or paid by him, in the

form of upfront amount (called as premium, salami, cost, price, development charges or by any

other name),

as the registered persons in whose case the liability to pay State tax on, —

(a) the consideration paid by him in the form of construction service of commercial or

residential apartments in the project, for supply of development rights or FSI (including

additional FSI);

(b) the monetary consideration paid by him, for supply of development rights or FSI

(including additional FSI) relatable to construction of residential apartments in project;

(c) the upfront amount (called as premium, salami, cost, price, development charges or by any

other name) paid by him for long term lease of land relatable to construction of residential

apartments in the project; and

(d) the supply of construction service by him against consideration in the form of

development rights or FSI(including additional FSI), —

shall arise on the date of issuance of completion certificate for the project, where required, by the

Competent Authority or on its first occupation, whichever is earlier.

2

2. Explanation:- For the purpose of this notification,—

(i) The term “apartment” shall have the same meaning as assigned to it in clause (e) of

Section 2 of the Real Estate (Regulation and Development) Act, 2016 (16 of 2016);

(ii) the term “promoter” shall have the same meaning as assigned to it in in clause (zk) of

Section 2 of the Real Estate (Regulation and Development) Act, 2016 (16 of 2016);

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

Project (RREP);

(iv) 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);.

(v) 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.

(vi) the term “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.

(vii) Tax on services covered by sub-para (i) and (ii) of paragraph 1 above is required to be

paid under reverse charge basis in accordance with the notification of the Government of

Odisha, in the Finance Department No. 19877-FIN-CT1-TAX-0022/2017 dated the 29^th

June,2017 published in the Extraordinary issue No.1145 of the Odisha Gazette, dated

the 29^th June,2017 bearing S.R.O. No. 307/2017, as amended from time to time, and the

last such amendment is in the notification of Government of Odisha, in the Finance

Department No. 40958-FIN-CT1-TAX-0043/2017, dated the 31^st December,2018

published in the Extraordinary issue No.2466 of the Odisha Gazette, dated the 31^st

December,2018 bearing S.R.O. No. 496/2018.

3. This notification shall come into force with effect from the 1^st day of April, 2019.

[No.11238 – FIN-CT1-TAX-0043/2017/FIN.]

By Order of the Governor

SAUMYAJIT ROUT

Deputy Secretary to the Government

Printed and published by the Director, Printing, Stationery and Publication, Odisha, Cuttack-10

Ex. Gaz. 2605-173+300