West Bengal AAAR Denies GST Exemption on Land Lease Premium

In re Anmol Industries Limited (GST AAAR West Bengal) The West Bengal Appellate Authority for Advance Ruling (WBAAR) upheld a ruling denying M/s. Anmol Industries Limited an exemption on the upfront premium paid for a long-term land lease from Shyama Prasad Mookerjee Port, Kolkata (SMPK). Anmol Industries argued the premium was exempt under Entry 41 of Notification No. 12/2017-Central Tax (Rate), which covers long-term leases of industrial plots. The WBAAR, however, found that Anmol Industries did not meet the necessary conditions for the exemption. The notification specifies that the leased p...