https://www.taxtmi.com/notifications?id=132662 The amendment conditions the long term lease exemption on leased plots being used for the allotted industrial or financial purpose and on State Government monitoring. It mandates that lease and subsequent sale agreements disclose that State tax was exempted on the long term lease and bind parties to compliance. 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 payable on the upfront amount for the lease, with applicable interest and penalty. en-us Fri, 20 Mar 2020 00:00:00 +0530 Tue, 28 Apr 2020 17:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=132662 The amendment conditions the long term lease exemption on leased plots being used for the allotted industrial or financial purpose and on State Government monitoring. It mandates that lease and subsequent sale agreements disclose that State tax was exempted on the long term lease and bind parties to compliance. 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 payable on the upfront amount for the lease, with applicable interest and penalty. Notifications GST - States Fri, 20 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/notifications?id=132662