Amendment to Notification 12/2017 - Central Tax (Rate)

Issuing Authority: Central Government under CGST Act, 2017. Date of Amendment: Effective from 1st January, 2020.

Affected Serial Number: Serial number 41. Nature of Amendment: Reduction of central tax rate from 50% to 20% for leased plots used for industrial or financial activities. State Government to monitor and enforce usage conditions.

Liability Clause: Original lessor, lessee, or subsequent parties jointly liable for unpaid central tax in case of misuse or change in land use.

Agreement Terms: Lease or sale agreements must acknowledge the tax exemption and ensure compliance.

Issued By: Ruchi Bisht, Under Secretary to the Government of India.