Hi..
We have to pay lease premium Payment to Noida Authority, please let me know whether we would have to pay GST on lease premium payment?
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GST RCM Lease Premium Payment
Replies (6)
Its exempted under Notification 12/2017 CT (R) , & kindly refer latest circular No. 101/20/2019, Dt 30/4/2019 issued in tbis regard
Yes, such service is exempt provided it must be Long term lease (Lease period > 30 Years). Otherwise, it is taxable service.
Equal to more than 30 years
Answer
Heading 9972: One time upfront amount (called as premium, salami, cost, price, development charges or by any other name) leviable in respect of the service, by way of granting long term (thirty years, or more) lease of industrial plots, provided by the State Government Industrial Development Corporations or Undertakings to industrial units exempted vide Notification No.12/2017-CT(RATE)
If all the above conditions are satisfied then such payment does not attract G.S.T
it's not industrial plot, we have taken commercial plot for 90 years lease from Noida Authority
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