GST exemption on upfront lease payments clarified; authorities instructed to apply the notification's guidance uniformly. GST exemption for upfront amounts payable for long term leases of plots is clarified by the Department of Revenue's Circular of 30 April 2019, which explains that such upfront consideration may fall within the exemption under the 2017 rate notification. The Chief Commissioner directs state tax field formations to follow that Circular to ensure uniform application of the exemption when assessing the taxable character of upfront lease payments under the rate notification regime.
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Provisions expressly mentioned in the judgment/order text.
GST exemption on upfront lease payments clarified; authorities instructed to apply the notification's guidance uniformly.
GST exemption for upfront amounts payable for long term leases of plots is clarified by the Department of Revenue's Circular of 30 April 2019, which explains that such upfront consideration may fall within the exemption under the 2017 rate notification. The Chief Commissioner directs state tax field formations to follow that Circular to ensure uniform application of the exemption when assessing the taxable character of upfront lease payments under the rate notification regime.
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