State tax on motor vehicle leasing limited relative to state tax, subject to pre-GST purchase and input tax credit conditions. State tax is notified on intra State leasing of motor vehicles (Chapter 87) at a reduced rate fixed as sixty five percent of the state tax otherwise applicable, subject to conditions. The reduced treatment applies where the lessor purchased the vehicle prior to the GST transition and supplied it on lease before the transition; the supplier must be registered and must not have availed input tax credit of central excise duty, VAT or other taxes on the vehicle. The notification references tariff classification rules under the Customs Tariff Act.
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State tax on motor vehicle leasing limited relative to state tax, subject to pre-GST purchase and input tax credit conditions.
State tax is notified on intra State leasing of motor vehicles (Chapter 87) at a reduced rate fixed as sixty five percent of the state tax otherwise applicable, subject to conditions. The reduced treatment applies where the lessor purchased the vehicle prior to the GST transition and supplied it on lease before the transition; the supplier must be registered and must not have availed input tax credit of central excise duty, VAT or other taxes on the vehicle. The notification references tariff classification rules under the Customs Tariff Act.
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