18% GST payable on leasing of immovable property for 99 years

In re Greentech Mega Food Park Pvt. Ltd. (GST AAR Rajasthan)

Whether the Lease Agreement between the Applicant Company i.e. the lessor and the lessee for a period of 99 years is a sale of immovable property and outside GST and is exempt from levy of GST? If the present transaction of giving land on lease of 99 years is taxable under GST, then at what rate and what HSN code is applicable?

The Lease Agreement between the Applicant i.e. the lessor and the Lessee for a period

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