https://www.taxtmi.com/notifications?id=132179 State tax exemption conditions for long-term lease of plots in industrial or financial business areas were amended. The plots must continue to be used for the allotted industrial or financial purpose, the State Government is to monitor compliance, and any violation or change of land use makes the original lessor, original lessee, and subsequent transferees jointly and severally liable for the tax otherwise payable, with interest and penalty. Lease and sale agreements must record the exemption and the associated conditions. en-us Wed, 19 Feb 2020 00:00:00 +0530 Fri, 19 Jun 2026 17:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=132179 State tax exemption conditions for long-term lease of plots in industrial or financial business areas were amended. The plots must continue to be used for the allotted industrial or financial purpose, the State Government is to monitor compliance, and any violation or change of land use makes the original lessor, original lessee, and subsequent transferees jointly and severally liable for the tax otherwise payable, with interest and penalty. Lease and sale agreements must record the exemption and the associated conditions. Notifications GST - States Wed, 19 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/notifications?id=132179