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GST Exemption on 90-Year Lease Premiums: Conditional and Not Considered Sale of Land
Case Law Details
- Case Name
- In re New Okhla Industrial Development Authority (NOIDA) (GST AAR Uttar Pradesh)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- AAR Uttar Pradesh, Advance Rulings
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In re New Okhla Industrial Development Authority (NOIDA) (GST AAR Uttar Pradesh)
The Goods and Services Tax (GST) regime in India is intricate, with its applicability on various transactions often subject to specific conditions and interpretations. A recent ruling by the Authority for Advance Ruling (AAR) in Uttar Pradesh concerning the New Okhla Industrial Development Authority (NOIDA) sheds light on the GST implications for 90-year lease premiums. This article delves into the nuances of the ruling, offering a comprehensive analysis for stakeholders in the real estate and development sectors....
Whether GST will be on lease for 90 years on allotment of land on 23.12.2002 but possession is being given now