https://www.taxtmi.com/notifications?id=145564 State tax exemption conditions for long-term lease of plots in industrial or financial business areas were amended by reducing the figure in the relevant entry and replacing the attached conditions. The leased plots must be used only for the allotted industrial or financial purpose, and the Government concerned must monitor compliance. Any violation or change of land use makes the original lessor, original lessee, and any subsequent lessee, buyer, or owner jointly and severally liable for the tax otherwise payable on the upfront lease amount, with interest and penalty, and the lease documents must record the exemption and compliance obligation. en-us Tue, 17 Mar 2020 00:00:00 +0530 Fri, 22 May 2026 12:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=145564 State tax exemption conditions for long-term lease of plots in industrial or financial business areas were amended by reducing the figure in the relevant entry and replacing the attached conditions. The leased plots must be used only for the allotted industrial or financial purpose, and the Government concerned must monitor compliance. Any violation or change of land use makes the original lessor, original lessee, and any subsequent lessee, buyer, or owner jointly and severally liable for the tax otherwise payable on the upfront lease amount, with interest and penalty, and the lease documents must record the exemption and compliance obligation. Notifications GST - States Tue, 17 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/notifications?id=145564