Lease of commercial plot or land for 99 years is a supply and attracts GST: Gujarat AAR

The Gujarat Authority for Advance Ruling has held that a lease of plot for 99 years is not sale of land but a lease of land and that this activity along with payment of annual premium for lease of a commercial plot is a ‘supply’ under the Central GST Act and is therefore liable to be taxed. “…lease of plot for 99 years by the applicant is not sale of land but is a lease of plot/land and therefore…