Leasing
Vehicles Purchased before 1 July to Attract 65% of the Rate of Compensation
Cess - II
[Ref: Notification
No. 7 /2017-Compensation
Cess (Rate) dated 13 October 2017]
In exercise of the powers conferred by 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
notifies the rate of cess as
specified in column 4 of the Table below, falling under the tariff item, sub-heading, heading
or Chapter as specified in the First Schedule to
the Customs Tariff Act, 1975 (51
of 1975), as the case may be, as specified in the corresponding entry in column (2), of the Table below, at the rate specified in corresponding
entry in column (4) and subject to relevant conditions
annexed to this notification, if any, specified in the corresponding entry in column (5) of the Table
below:
Table
|
Sl. No. |
Tariff item, sub- heading,
heading
or Chapter |
Description
of Goods |
Rate |
Condition
No. |
|
(1) |
(2) |
(3) |
(4) |
(5) |
|
1. |
8702, 8703 |
Motor Vehicles |
65% of cess applicable otherwise
on such goods under Notification No. 1/2017- Compensation Cess
(Rate) dated, 28th June, 2017
published in the Gazette of India, Extraordinary,
Part
II, Section 3, Sub
Section (i), vide G.S.R. 720 (E)
dated the 28th June, 2017. |
1 |
|
2. |
8702, 8703 |
Motor Vehicles |
65% of cess applicable otherwise
on such goods under Notification No. 1/2017- Compensation Cess
(Rate) dated, 28th June, 2017
published in the Gazette of India, Extraordinary,
Part
II, Section 3, Sub
Section (i), vide G.S.R. 720 (E) dated
the 28th June, 2017. |
2 |
2.
Provided that nothing contained in this notification shall apply on or after 1st July, 2020.
Explanation –For the purposes
of this notification, -
(i) “Tariff item”, “sub-heading” “heading” and “Chapter” shall mean respectively a tariff item, heading, sub-heading and Chapter as specified in the First Schedule to the Customs Tariff Act, 1975 (51 of 1975).
(ii) The rules for the interpretation of the First Schedule to the said Customs Tariff Act,
1975, including the Section and Chapter Notes and the General Explanatory Notes of the
First Schedule shall, so far as
may
be, apply to
the
interpretation of this notification.
Annexure
|
Condition No. |
Condition |
|
1 |
i.
The Motor Vehicles was purchased by the lesser prior to 1st July, 2017
and supplied on lease
before 1st July,
2017 |
|
2 |
i.
The supplier of Motor Vehicle is a registered
person. |
|
|
ii. Such supplier had purchased the Motor Vehicle
prior to 1st
July, 2017
and has not availed input tax credit of
central excise duty, Value Added Tax or any other
taxes paid on such vehicles. |
[F.No.354/117/2017- TRU
(Pt. III)]