Seeks to amend Notification No.1/2017-CGST (Rate) - 08/2018-State Tax (Rate) - Mizoram SGST

GST exemption on margin scheme for used vehicles: state tax limited to specified rates on supplier margin.

Exempts part of state tax on intra-state supplies of specified old and used motor vehicles by capping tax on the supplier's margin at rates differentiated by vehicle category; vehicle specifications follow the Motor Vehicles Act. Margin equals consideration less depreciated value for items on which depreciation was claimed, or selling price less purchase price otherwise, with negative margins ignored. Exemption is inapplicable where the supplier has availed input tax credit, CENVAT, or VAT-related input tax credit.