Exemption to one-time upfront amount for long-term lease available to Govt. owned entities

CBIC inserts Explanation to Entry 43/41 of Notification No. 9/2017- Integrated Tax (Rate) / Notification No.12/2017- Central Tax (Rate) & No.12/2017- Union Territory Tax (Rate) providing exemption to one-time upfront amount leviable in respect of service of long-term lease of industrial plots provided by State Government/Industrial Development Corporations/Undertakings to industrial units; As per said Explanation, exemption shall be available where Central/ Stat...