Lease with RLDA for a period of 99 years not exempt from GST: AAAR

In re Hazari Bagh Builders Pvt Ltd (GST AAAR Rajasthan) 1. Appeal by the party is rejected. It was held that one amount paid as 1st installment of lease premium before Lease agreement cannot be treated security deposit and not exempted from GST. 2 RFP issued for development of land for residential purpose and consequently leased, not exempted under entry no. 41 of Notification No. 12/2017-Central Tax (rate) dated 28.06.2017. 3 Amount paid during the month of Feb 2019 after issuance of letter of acceptance dated 26.09.2018 for deposition of 1st Installment of Lease premium, lease agreement is ...