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The Lease Agreement between the Lessee and RLDA for a period of 99 years is not exempted from levy of GST

Exemption from GSTFollowing are the question on which advance ruling is sought—
i. Whether the Lease Agreement between the Applicant Company i.e. the Lessee and RLDA for a period of 99 years is exempt from levy of GST in view of the Notification No.04/2019-CT (Rate) dated 29.03.2019 or Notification No.12/2017-CT (Rate) dated 28.06.2017?

ii. Whether the amount of Rs.158657105.00 which is transferred by the Applicant Company as Security Deposit in pursuance to the tender and lease agreement dated 08.11.2019 is exempt under GST in view of the Notification No.04/2019-CT (Rate) dated 29.03.2019 or Notification No.12/2017-CT (Rate) dated 28.06.2017?

iii. Whether the amount of Rs.158657105.00 deposited during February, 2019 is exempt under Notification No.04/2019-CT (Rate) dated 29.03.2019 or Notification No.12/2017-CT (Rate) dated 28.06.2017?

Held that—
i. The Lease Agreement between the Applicant Company i.e. the Lessee and RLDA for a period of 99 years is not exempted from levy of GST in view of the Notification No.04/2019-CT (Rate) dated 29.03.2019 or Notification No.12/2017-CT (Rate) dated 28.06.2017.

ii. The amount of Rs.158657105/- which is transferred by the Applicant/SPV in pursuance to the tender and lease agreement dated 08.11.2019 is not exempted under GST in view of the Notification No.04/2019-CT (Rate) dated 29.03.2019 or Notification No.12/2017-CT (Rate) dated 28.06.2017.

iii. The amount of Rs.158657105/- deposited during February, 2019 is not exempted from GST vide Notification No. 04/2019-Central Tax (rate) dated 29.03.2019 or Notification No.12/2017-CT (Rate) dated 28.06.2017.—Hazari Bagh Builders Pvt. Ltd., In Re... [2020] 25 TAXLOK.COM 086 (AAR-Rajasthan)