GST Notices Trigger Alarm in Real Estate: FAR Transactions in UP under Scrutiny
The Uttar Pradesh GST department has issued notices to more than 500 real estate developers across cities including Lucknow, Agra, Kanpur, Aligarh, Noida, and Meerut. Authorities are demanding detailed information on the purchase of Floor Area Ratio (FAR) from development authorities dating back to July 1, 2017, due to uncertainty over whether these transactions attract the standard 18% GST.