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of <h1>Karnataka clarifies GST exemption on upfront payments for long-term industrial leases under Notification 12/2017.</h1> The circular from the Karnataka Department of Commercial Taxes clarifies the GST exemption on upfront amounts payable for long-term leases of industrial plots or plots for financial infrastructure development. Under Notification No. 12/2017, dated 29.06.2017, such upfront amounts are exempt from GST, regardless of whether they are paid in full or in installments, as long as the amount is determined upfront. This applies to leases of thirty years or more provided by state government entities or those with significant government ownership. The circular is intended for clarification and not for legal interpretation.
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