GST exemption on the upfront amount payable in for long term lease of plots, under Notification 12/2017-Central Tax (R) S.No. 41 dated 28.06.2017.

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..... PRESENT: DR. T.V. SOMANATHAN, I.A.S., COMMISSIONER OF STATE TAX Dated: 02.05.2019 Circular No. 71/2019-TNGST (RC No.26/2019/A1/Taxation) Sub: GST exemption on the upfront amount payable in for long term lease of plots, under Notification 12/2017-Central Tax (R) S.No. 41 dated 28.06.2017 -reg. Representations have been recei .....

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..... Description of Services Rate (per cent.) Conditions (1) (2) (3) (4) (5) 41 Heading 9972 Upfront amount (called as premium, salami, cost, price, develo .....

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..... al plots or plots for development of infrastructure for financial business under Entry No. 41 of Notification No. II(2)/CTR/532(d-15)/2017, dated 29-06-2017 read with Central Notification 12/2017 - Central Tax (Rate) dated 28,06.2017 is admissible irrespective of whether such upfront amount is payable or paid in one or more installments, provided the amount is determined upfront. Sd/-T. .....

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