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GST is applicable on long term lease: Goa AAR

December 1, 2018[2018] 100 128 (AAR - GOA)

GST: Where applicant, an undertaking of Government of Goa having more than 50 per cent ownership of State Government, has leased a property for development of infrastructure for financial business for a period of 60 years against one time upfront concession fees, since above property is not situated in industrial/financial business area, service provided by assessee is not falling under Entry No. 41 of Notification No. 12/2017-Central Tax (Rate), dated 28-6-2017 and, therefore, applicant is not entitled for benefit of said Notification and activity of lease is liable for levy of GST

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