Leasing Vehicles Purchased before 1 July to Attract 65% of the Rate
of Compensation Cess - I
[Ref: Notification No. 6/2017- Compensation Cess (Rate) dated 13 October 2017]
In exercise
of the powers conferred by sub-section (1) and sub-section (2) of section 8 of the Goods and Services Tax (Compensation to States) Act, 2017 (15 of
2017), the Central Government, on the
recommendations of the Council, hereby makes the following amendments in the notification of the Government of India, in the Ministry
of Finance (Department of Revenue), No.
2/2017-Compensation Cess (Rate), dated the 28th June, 2017,
published in the Gazette of India,
Extraordinary, Part II, Section 3, Sub-section (i), vide
number G.S.R. 709 (E), dated
the 28th June, 2017, namely:-
(a) after serial number 2 and the entries relating thereto, the following
serial number and the
entries shall be inserted namely:-
|
(1) |
(2) |
(3) |
(4) |
|
“2A |
Leasing of motor
vehicles purchased and
leased prior to 1st
July 2017 |
Chapter
99 |
65 percent
of
the rate of cess as applicable on supply of similar goods involving transfer of
title in goods. Note:- Nothing contained in this entry shall apply on or
after 1st day of July,
2020”. |
[F.No.
354/173/2017-TRU]