Tax exemption on used vehicle resale margins limits state tax to a capped margin-based taxable value. Exempts state tax on intra-state supplies of specified old and used motor vehicles by capping tax to a margin-based taxable value; margin equals consideration less depreciated value for suppliers who claimed depreciation, or selling price less purchase price otherwise, with negative margins ignored. The exemption is unavailable where the supplier has availed input tax credit, CENVAT, VAT input credit or other taxes on the goods and applies only to the extent tax on the margin is capped at the specified rates.