https://www.taxtmi.com/notifications?id=131953 The amendment lowers the concessional figure applied to long term leases and conditions the State tax exemption on leased plots being used for their allotted industrial or financial purpose, with government monitoring. In case of violation or change of land use, the original lessor, original lessee and any subsequent lessee, buyer or owner are jointly and severally liable to pay the State tax that would have been due on the upfront lease amount, with interest and penalty. Lease and sale agreements must disclose the exemption and bind parties to the compliance obligation. en-us Tue, 31 Dec 2019 00:00:00 +0530 Sat, 18 Jan 2020 11:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=131953 The amendment lowers the concessional figure applied to long term leases and conditions the State tax exemption on leased plots being used for their allotted industrial or financial purpose, with government monitoring. In case of violation or change of land use, the original lessor, original lessee and any subsequent lessee, buyer or owner are jointly and severally liable to pay the State tax that would have been due on the upfront lease amount, with interest and penalty. Lease and sale agreements must disclose the exemption and bind parties to the compliance obligation. Notifications GST - States Tue, 31 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/notifications?id=131953