Clause 118 - Special provision for retrospective exemption from service tax in certain cases relating to long term lease of plots for development of infrastructure for financial business
Finance (No. 2) Bill, 2019 Service tax
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Retrospective service tax exemption on upfront lease premiums for long term infrastructure leases provided by government entities to developers. A retrospective exemption from service tax is provided for upfront amounts paid as premium or development charges for granting long term leases (thirty ... Summary
Retrospective service tax exemption on upfront lease premiums for long term infrastructure leases provided by government entities to developers.
A retrospective exemption from service tax is provided for upfront amounts paid as premium or development charges for granting long term leases (thirty years or more) of plots for infrastructure development for financial business by specified government owned entities to developers during 1 October 2013-30 June 2017; refunds are available for tax collected that would not have been due, subject to a six month claim period after Presidential assent and retrospective application of the omitted Chapter V provisions for refund processing.
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