AAR : 'Lease' arrangement of plots transferred by applicant, responsible for establishing 'food-park', taxable at 18%, agreement stamping inconsequential

Jul 19,2019

Rajasthan AAR rules on taxability of lease agreement entered by the applicant, a special purpose vehicle (SPV) responsible for establishing ‘Mega Food Park’ in accordance with guidelines of Ministry of Foods Processing Industries, Govt. of India (MoFPI); Notes that applicant for development or setting up of Food Park has identified/developed certain individual plots on the project site for the purpose of transferring the plots for a lease of 99 years and setting up of ind...

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