CBEC Notification : NO SERVICE TAX on 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.

CBEC NOTIFICATION No. 41/2016-Service Tax, Dated: September 22, 2016

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]

(Anurag Sehgal)
Under Secretary to the Government of India

Download Link : http://www.cbec.gov.in/resources//htdocs-servicetax/st-notifications/st-notifications-2016/st41-2016.pdf

 

Must Read  No proposal in Union Budget 2017-18 to levy 5% Service Tax on Healthcare Services