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of <h1>GST Exemption Clarified for Long-Term Industrial and Financial Infrastructure Leases per Notification No. 12/2017.</h1> The circular clarifies that the Goods and Services Tax (GST) exemption applies to the upfront amount payable for long-term leases (thirty years or more) of industrial plots or plots for developing financial infrastructure, as per Notification No. 12/2017 - Central Tax (R) S. No.41 dated 28.06.2017. This exemption is valid regardless of whether the upfront amount is paid in full or in installments, provided the amount is determined upfront. The clarification is intended to address queries about the applicability of the GST exemption for such leases. Any implementation difficulties should be reported to the Board.
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