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Government of India
Ministry of Finance
(Department of Revenue)
Notification No. 27/2019- Integrated Tax (Rate)
New Delhi, the 31st December, 2019
G.S.R......(E).- In exercise of the powers conferred by sub-section (3) and
sub-section (4) of section 5, sub-section (1) of section 6 and clause (xxv) of
section 20 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), read
with sub-section (5) of section 15 and section 148 of the Central Goods and
Services Tax Act, 2017 (12 of 2017), the Central Government, on being satisfied
that it is necessary in the public interest so to do, on the recommendations of
the Council, hereby makes the following further amendments in the notification
of the Government of India, in the Ministry of Finance (Department of Revenue)
No.9/2017- Integrated Tax (Rate), dated the 28th June, 2017, published in the
Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number
G.S.R. 684 (E), dated the 28th June, 2017, namely:-
In the said
notification, in the Table, against serial number 43, -
(a) in column
(3), for the figure “50”, at both the places where they occur, the figure “20 ”
shall be substituted;
(b) for the entry in column (5), the following entries
shall be substituted, namely, -
| (5) |
“Provided that the leased plots shall be used for the purpose for
which they are allotted, that is, for industrial or financial
activity in an industrial or financial business area:
Provided
further that the State Government concerned shall monitor and enforce
the above condition as per the order issued by the State Government
in this regard:
Provided also that in case of any violation or
subsequent change of land use, due to any reason whatsoever, the
original lessor, original lessee as well as any subsequent lessee or
buyer or owner shall be jointly and severally liable to pay such amount
of central tax, as would have been payable on the upfront amount
charged for the long term lease of the plots but for the exemption
contained herein, along with the applicable interest and
penalty:
Provided also that the lease agreement entered into by the original
lessor with the original lessee or subsequent lessee, or sub- lessee,
as well as any subsequent lease or sale agreements, for lease or sale
of such plots to subsequent lessees or buyers or owners shall
incorporate in the terms and conditions, the fact that the central tax
was exempted on the long term lease of the plots by the original
lessor to the original lessee subject to above
condition and that
the parties to the said agreements undertake to comply with the same.”. |
2. This notification shall come into force with effect from the 1st day of January, 2020.
[F. No. 354/204/2019- TRU]
(Ruchi Bisht)
Under Secretary to the
Government of India
Note: -The principal notification No. 9/2017 - Integrated Tax (Rate), dated the
28th June,2017 was published in the Gazette of India, Extraordinary, vide number
G.S.R. 684 (E), dated the 28th June, 2017 and was last amended by
notification No. 20/2019 – Integrated Tax (Rate), dated the 30th
September, 2019 vide number G.S.R. 733(E), dated the 30th
September, 2019.
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