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Notification No. 28/2019

Date: December 31, 2019
Subject: Amendment to Notification No. 12/2017–CT (Rate) modifying exemption conditions for long-term lease of industrial plots.
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Description:

This notification reduces the permissible upfront amount from 50% to 20% for exemption on long-term lease of industrial or financial business plots. It also introduces detailed monitoring and recovery conditions in case of violation of land-use terms. The amendment tightens compliance while continuing the exemption.

Issued for earlier notification?

Yes — amends Notification No. 12/2017–Central Tax (Rate).

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