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of <h1>Bihar Clarifies GST Exemption on Upfront Payments for Long-Term Leases of Industrial and Financial Infrastructure Plots.</h1> The Government of Bihar's Commercial Taxes Department issued a circular clarifying the GST exemption on upfront amounts for long-term leases of industrial plots or plots for financial infrastructure development. According to Notification No. 12/2017 - State Tax (Rate) S. No.41, dated 29.06.2017, the exemption applies to amounts determined upfront, regardless of whether they are paid in installments. This applies to leases of thirty years or more, provided by government entities or those with significant government ownership. Any implementation issues should be reported to the department.
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