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of <h1>Karnataka Cuts State Tax Rate to 65% on Leasing Motor Vehicles; Conditions Apply Until July 1, 2020.</h1> The Government of Karnataka, under the Karnataka Goods and Services Tax Act, 2017, has issued a notification prescribing a reduced State tax rate of 65% on the leasing of motor vehicles, effective until July 1, 2020. This applies to vehicles described under Chapter 87 of the Customs Tariff Act, 1975. Conditions include the vehicle being purchased and leased before July 1, 2017, or the supplier being registered and not having claimed input tax credits on the vehicle. The notification is issued by the Finance Department under the authority of the Governor of Karnataka.
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