CBIC issues clarification w.r.t. exemption on upfront amount payable in installments for long term lease of plots

CBIC issues clarification w.r.t. exemption on upfront amount payable in installments for long term lease of plots CBIC clarifies on admissibility of GST exemption on the upfront amount (called as premium, salami, cost, price, development charges or by any other name) payable for long term lease (of thirty years, or more) of industrial plots or plots for development of infrastructure for financial business under Entry No. 41 of Exemption Notification 12/2017 - Central Tax(Rate...