TaxTMI 
TaxTMI 
2022 (1) TMI 1300
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.... the GST Act. This Ruling is valid, subject to the provisions under Section 103 of the GST Act, until and unless declared void under Section 104(1) of the GST Act. Brief Facts: The applicant have submitted that they are engaged in the allotment of land (Plots) on Leasehold (99 Years)/ Freehold (Residential) basis to eligible bidders through e-auction process for institutional, Residential. Commercial, Public & Semi Public and Mix use as per terms and conditions specified in Jharkhand Smart Cities Land and Other Fixed Assets (Utilization. Allotment and Disposal) Rules, 2019, as amended. The Leasehold is either one time transfer for 99 years on lease or on Annual Lease Rent. The Freehold basis is Freehold sale, i.e., Transfer of ownership. 2. The applicant have further submitted that Ranchi Smart City Corporation Limited (((RSCCL) was established in the Year 2016 under Smart City Mission, a scheme sponsored by the Government of India, with focus mainly on excellence in education in ABD Location of 656.30 Acres along with provision of basic amenities like drinking water, sanitation, and solid waste management in a much smarter way to address the challenges of urban infrastructure ....
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....lization, Allotment and Disposal) Rules, 2019 apart from some basic facilities. 6. The Smart City Mission is a Government of India project and RSCCL is just a special process vehicle of Jharkhand Government for implementing it in Ranchi. The Government of Jharkhand has vide Resolution SUDA/SCM/SPV-RSCCL-13/2016-4552 dated 17.08.2016 assigned powers vested with Ranchi Municipal Corporation to RSCCL with regards to discharging the obligation towards implementing of projects and other initiatives set forth under the mission. The RSCCL is 100% owned by the Government of Jharkhand and its ex-officio Director is the Principal Secretary, Department of Planning and Finance, Govt, of Jharkhand. Its ex-officio Chairman-cum-Managing Director is Secretary, Urban Development & Housing Department, Govt, of Jharkhand. As per Para 2(zfa) of the Notification No. 12/2017-CT (Rate), dated. 28.06.2017, "Government Entity" means an authority or a board or any other body including a society,- (i) Set up by an Act of Parliament or a State Legislature, or (ii) Established by any Government, With 90% or more participants by way of equity or control, to carry out any function entrusted by the Central....
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.... Smart City Proposal. 8.3 The applicant have further submitted that basic price of land is based on the factors duly approved by the Cabinet of Ministers of Jharkhand. The draft sale deed/ lease deed to be executed with the buyers/ allottees, duly vetted by their Legal Department, shows that the buyers are paying sale price of the land and no extra amount is being charged by RSCCL. RSCCL is delivering the actual, physical and vacant possession of the property to the buyer with all original documents. 8.4 We find that the development work done by the applicant is for whole parcel of land under Area Based Development and not for a given plot which is being sold to the buyer. RSCCL have been assigned with powers vested with Ranchi Municipal Corporation and the Area Based development of 647.30 Acres land under Smart City Mission is being done by RSCCL under the capacity and powers vested with Ranchi Municipal Corporation, assigned to them by Government of Jharkhand. The Central Government and Jharkhand Government have provided grants to RSCCL for Area Based Development of land. The title in the common area and amenities does not belong to the buyer but rests with RSCCL, a Government ....
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....0.04.2019, that GST exemption on the upfront amount (called as premium, salami, cost, price, development charges or by any other name) payable for long term lease (of thirty years, or more) of industrial plots or plots for development of infrastructure for financial business under Entry No. 41 of Exemption Notification 12/2017 - Central Tax (r) dated 28.06.2017 is admissible irrespective of whether such upfront amount is payable or paid in one or more installments, provided the amount is determined upfront. Financial Business Area in not been defined in the statute. However, in common parlance, Financial Business Area or Financial District or Central Business District is often the commercial and business centre of a city, having a number of financial firms. The Government of Jharkhand, in association with Government of India, is developing Smart City with the concept of having Industrial Zones, Commercial Zones, Residential Zones, Public/ Semi-public Zones and Mixed Use Zones. The applicant have submitted that various financial firms like Banks, Insurance Companies, Trading Houses etc. are investing for the purpose of having their branch offices there. As such, the Area Based Deve....