GST exemption on the upfront amount payable in for long term lease of plots, under Notification 12 — State Tax (Rate) Sl. No.41 dated 29.06.2017 (No. FTX.56/2017/25 dated 29.06.2017)

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..... UWAHATI-6 CIRCULAR NO. 55/2019-GST Dated Dispur the 6 th May, 2019 Subject: GST exemption on the upfront amount payable in for long term lease of plots, under Notification 12 - State Tax (Rate) Sl. No.41 dated 29.06.2017 (No. FTX.56/2017/25 dated 29.06.2017) -reg. No. CT/GST-15/2017/367. - Representations have been received by the C .....

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..... (per cent.) Condition (1) (2) (3) (4) (5) 41 Heading 9972 Upfront amount (called as premium, salami, cost, price, development charges or by any other na .....

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..... lots or plots for development of infrastructure for financial business under Entry No. 41 of Exemption Notification 12 - State Tax (Rate) dated 29.06.2017 (No. FTX.56/2017/25 dated 29.06.2017) is admissible irrespective of whether such upfront amount is payable or paid in one or more installments, provided the amount is determined upfront. 4. This Circular is clarificatory in nature .....

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