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of <h1>India Cuts IGST to 65% on Pre-July 2017 Leased Vehicles, Conditions Apply, Per Notification No. 38/2017.</h1> The notification from the Government of India, Ministry of Finance, specifies a reduced Integrated Goods and Services Tax (IGST) rate of 65% on the leasing of motor vehicles purchased and supplied on lease before July 1, 2017. This rate is applicable under certain conditions, such as the vehicle being purchased before July 1, 2017, and the supplier not having claimed input tax credit for central excise duty or VAT. The reduced rate is detailed in Notification No. 38/2017 and is valid until July 1, 2020.
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