1. Whether the upfront amount charged by the Applicant (as lease Premium) for granting long-term lease of ninety years, in respect of allotment of plots to the industrial units or the developers, for the development of industrial infrastructure in the notified industrial town of NOIDA, such as for residential, commercial, retail, hospital, logistics etc. is exempt from payment of GST in terms on Entry No 41 of Notification No 12/2017-CT (Rate) dated 28-06-2017 (as amended by Notification No 32/2017-CT (Rate) dated 13-10-2017 and Entry No 41 of Notification No KANI-2-843/XI-9(47)/17 (UPGST-Rate) dated 30-06-2017 ?
2. Whether the upfront amount charged by the Applicant (as lease premium) for granting long-term lease for ninety years is in the nature of transaction for sale of land and therefore outside the scope of levy of GST?