GST on lease of land

This query is : Resolved

Satish Patel (Querist)
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04 December 2019 Gujarat Industrial Developement Corporation(GIDC)acquires private land from farmers or waste land /Gauchar from Gujarat Government and converts it into Industrial /commercial or Residential plots and allots for 99 Years lease. Commercial plots are allotted to highest bidder by open public auctions to generate maximum revenue by discovering market price for 99 years lease for commercial purposes. As Government or it’s subsidiaries can’t sale land , it gives for 99 years lease as a prudent practice. 99 years lease is however practically equivalent to sale due to long period/tenure. There is no GST on sale of freehold plots or land as it is immovable. Is GST applicable on allotment price for 99 Year land lease provided by GIDC?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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04 December 2019 As per the current regulations, 18% GST is levied on any long term lease transactions

Gokul Sharma

Gokul Sharma (Expert)
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04 December 2019 sir is GST Applicable on the plot given on lease for residential purpose ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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04 December 2019 Not applicable.........

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