[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
No. 41/2016-Service Tax
New Delhi, the 22nd September, 2016
GSR_______(E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts taxable service provided by State Government Industrial Development Corporations/ Undertakings to industrial units by way of granting long term (thirty years, or more) lease of industrial plots from so much of service tax leviable thereon under section 66B of the said Act, as is leviable on the one time upfront amount (called as premium, salami, cost, price, development charges or by any other name) payable for such lease.
[F. No. 354/51/2016 -TRU]
Under Secretary to the Government of India
We feel pride in offering our customers the wide range of products of the top leading brands of the world.