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<h1>India Sets Compensation Cess Rates for Specific Services Under GST Act, Effective July 1, 2017, per Notification 2/2017.</h1> The Government of India, under the Ministry of Finance, issued Notification No. 2/2017 on June 28, 2017, detailing the compensation cess rates applicable to certain services under the Goods and Services Tax (Compensation to States) Act, 2017. The notification specifies cess rates for services such as the transfer of the right to use goods, transfer of rights without title transfer, and leasing of motor vehicles purchased before July 1, 2017. The cess rate for these services aligns with the rate applicable to similar goods. The notification took effect on July 1, 2017, and includes subsequent amendments as noted.