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of <h1>GST Exemption for Upfront Payments on Long-term Industrial Leases in Manipur Clarified under Notification 12/2017.</h1> The circular issued by the Department of Taxes, Manipur, clarifies the GST exemption on upfront payments for long-term leases of industrial plots or plots for financial infrastructure development. Under Notification No. 12/2017 - State Tax (Rate), S. No. 41, dated 28.06.2017, such upfront amounts are exempt from GST, even if paid in installments, as long as the amount is determined upfront. This exemption 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 Commissioner.
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