Amendment in the Notification No.1/2017-SGST (Rate).

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....of the powers conferred by sub-section (1) of section 11 of the Maharashtra Goods and Services Tax Act, 2017 (Mah. XLIII of 2017), the Government of Maharashtra, on being satisfied that it is necessary in the public interest so to do, on the recommendations of the Council, hereby exempts the state tax on intra-state supplies of goods, the description of which is specified in column (3) of the Tabl....

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....planation.- For the purposes of this entry, the specification of the motor vehicle shall be determined as per the Motor Vehicles Act, 1988 (59 of 1988) and the rules made thereunder. 9% 2. 8703 Old and used, diesel driven motor vehicles of engine capacity of 1500 cc. or more and of length of 4000 mm. Explanation.- For the purposes of this entry, the specification of the motor vehicle shall be....

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....eived for supply of such goods and the depreciated value of such goods on the date of supply, and where the margin of such supply is negative, it shall be ignored ; and (ii) in any other case, the value that represents the margin of supplier shall be, the difference between the selling price and the purchase price and where such margin is negative, it shall be ignored. 2. This notification shall....