Motor vehicle lease tax rate set at a reduced fraction of applicable State tax, conditioned on pre GST purchase and no input credit. Notification prescribes a special State tax for intra State supplies of motor vehicles on lease at sixty five percent of the State tax otherwise applicable, subject to temporal limitation. The rate is conditional: the motor vehicle must have been purchased by the lessor prior to GST implementation and supplied on lease before that date; the supplier must be registered, have purchased the vehicle prior to GST implementation and not have availed input tax credit of central excise, VAT or other taxes on the vehicle. Tariff classification follows the First Schedule interpretation rules.
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Provisions expressly mentioned in the judgment/order text.
Motor vehicle lease tax rate set at a reduced fraction of applicable State tax, conditioned on pre GST purchase and no input credit.
Notification prescribes a special State tax for intra State supplies of motor vehicles on lease at sixty five percent of the State tax otherwise applicable, subject to temporal limitation. The rate is conditional: the motor vehicle must have been purchased by the lessor prior to GST implementation and supplied on lease before that date; the supplier must be registered, have purchased the vehicle prior to GST implementation and not have availed input tax credit of central excise, VAT or other taxes on the vehicle. Tariff classification follows the First Schedule interpretation rules.
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