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99-Year Lease Not a Property Sale; GST Applies Due to Lack of Absolute Transfer Rights and Conditional Terms.

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....Levy of GST - 99 years Lease agreement - Transaction is in the nature of Sale of immovable property and outside GST and is exempt from levy of GST? - Held NO - There is no absolute transfer of property - there is no right to further sale - Agreement is subject of various conditions - Liable to GST....

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