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.