Leasing tax concession for motor vehicles limited by purchase and credit conditions, expiring after a specified cutoff date. Prescribes a concessional State tax rate for intra state leasing of motor vehicles under Chapter 87, set as a specified proportion of the State tax otherwise applicable, subject to annexed conditions. Conditions limit the concession to vehicles purchased and leased before the law change and to suppliers who are registered and who did not claim input tax credits on taxes paid for those vehicles. The notification adopts First Schedule tariff interpretation rules and contains a sunset provision rendering it inapplicable on and after a specified date.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Leasing tax concession for motor vehicles limited by purchase and credit conditions, expiring after a specified cutoff date.
Prescribes a concessional State tax rate for intra state leasing of motor vehicles under Chapter 87, set as a specified proportion of the State tax otherwise applicable, subject to annexed conditions. Conditions limit the concession to vehicles purchased and leased before the law change and to suppliers who are registered and who did not claim input tax credits on taxes paid for those vehicles. The notification adopts First Schedule tariff interpretation rules and contains a sunset provision rendering it inapplicable on and after a specified date.
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