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of <h1>India Reduces CGST to 65% on Vehicles Leased Before July 1, 2017; Conditions Apply Until July 2020.</h1> The Government of India, through Notification No. 37/2017-Central Tax (Rate), announced a reduced Central Goods and Services Tax (CGST) rate of 65% on the leasing of motor vehicles purchased and supplied on lease before July 1, 2017. This applies to intra-State supplies under specific tariff items as outlined in the Customs Tariff Act, 1975. The reduced rate is applicable until July 1, 2020, subject to conditions such as the purchase date and the supplier's registration status. The supplier must not have availed input tax credit for taxes paid on these vehicles.
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