https://www.taxtmi.com/notifications?id=126966 State tax on intra state supplies of specified categories of old and used motor vehicles is exempt to the extent tax exceeds the amount calculated on the supplier's margin; distinct reduced rates apply by vehicle category. For depreciated assets claimed under the Income Tax Act, margin equals consideration received minus depreciated value, and negative margins are ignored. The exemption does not apply where the supplier has availed input tax credit, CENVAT, VAT input credit or similar credits on the goods. en-us Thu, 25 Jan 2018 00:00:00 +0530 Tue, 09 Oct 2018 11:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=126966 State tax on intra state supplies of specified categories of old and used motor vehicles is exempt to the extent tax exceeds the amount calculated on the supplier's margin; distinct reduced rates apply by vehicle category. For depreciated assets claimed under the Income Tax Act, margin equals consideration received minus depreciated value, and negative margins are ignored. The exemption does not apply where the supplier has availed input tax credit, CENVAT, VAT input credit or similar credits on the goods. Notifications GST - States Thu, 25 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/notifications?id=126966