https://www.taxtmi.com/notifications?id=124526 State tax exemption applies to specified categories of old and used motor vehicles by exempting tax in excess of the amount computed by applying the notified rate to the supplier's margin. Four categories are specified with rates of 9% for certain large petrol/LPG/CNG, diesel and SUV categories, and 6% for other used vehicles. Margin for depreciable goods equals consideration less depreciated value where income tax depreciation was claimed; otherwise margin equals selling price less purchase price, with negative margins ignored. Exemption is inapplicable if input tax credit or analogous credits were availed. en-us Thu, 25 Jan 2018 00:00:00 +0530 Wed, 28 Mar 2018 11:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=124526 State tax exemption applies to specified categories of old and used motor vehicles by exempting tax in excess of the amount computed by applying the notified rate to the supplier's margin. Four categories are specified with rates of 9% for certain large petrol/LPG/CNG, diesel and SUV categories, and 6% for other used vehicles. Margin for depreciable goods equals consideration less depreciated value where income tax depreciation was claimed; otherwise margin equals selling price less purchase price, with negative margins ignored. Exemption is inapplicable if input tax credit or analogous credits were availed. Notifications GST - States Thu, 25 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/notifications?id=124526