https://www.taxtmi.com/article/detailed?id=8280 The exemption for upfront concession fees under Notification No.12/2017 requires four conditions: upfront payment, lease of thirty years or more, use for industrial or financial infrastructure in a formally declared industrial/financial business area, and grant by a qualifying government-owned entity. While the fee and lease duration and grantor status met three conditions, lack of a formal declaration that the land is an industrial or financial business area prevents application of the exemption, bringing the upfront concession fee within the GST charging framework as consideration for a long-term lease/continuous supply. en-us Mon, 10 Dec 2018 09:36:19 +0530 Mon, 10 Dec 2018 09:36:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8280 The exemption for upfront concession fees under Notification No.12/2017 requires four conditions: upfront payment, lease of thirty years or more, use for industrial or financial infrastructure in a formally declared industrial/financial business area, and grant by a qualifying government-owned entity. While the fee and lease duration and grantor status met three conditions, lack of a formal declaration that the land is an industrial or financial business area prevents application of the exemption, bringing the upfront concession fee within the GST charging framework as consideration for a long-term lease/continuous supply. Articles Goods and Services Tax - GST Mon, 10 Dec 2018 09:36:19 +0530 https://www.taxtmi.com/article/detailed?id=8280