Notification No. 7 /2017-Compensation Cess (Rate): Seeks to prescribe compensation cess rate on the leasing of motor vehicles

Important Keyword: Section 8(2) GST Act 2017, F.No.354/117/2017- TRU (Pt. III), GST, CGST, Notification No. 7 /2017-Compensation Cess (Rate).

[F.No.354/117/2017- TRU (Pt. III)]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(Department of Revenue)

New Delhi, the 13^th October, 2017

Notification No. 7 /2017-Compensation Cess (Rate)

GST: [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY PART II, SECTION 3, SUB-SECTION (i)]

G.S.R.    (E).- In exercise of the powers conferred by sub-section (2) of section 8 of the Goods and Services Tax (Compensation to States) Act, 2017 (15 of 2017), the Central Government, on the recommendations of the Council, hereby notifies the rate of cess as specified in column 4 of the Table below, falling under the tariff item, sub-heading, heading or Chapter as specified in the First Schedule to the Customs Tariff Act, 1975 (51 of 1975),

as the case may be, as specified in the corresponding entry in column (2), of the Table below, at the rate specified in corresponding entry in column (4) and subject to relevant conditions annexed to this notification, if any, specified in the corresponding entry in column (5) of the Table below:

TABLE

2.         Provided that nothing contained in this notification shall apply on or after1^st July, 2020.

Explanation –For the purposes of this notification, –

• “Tariff item”, “sub-heading” “heading” and “Chapter” shall mean respectively a tariff item, heading, sub-heading and Chapter as specified in the First Schedule to the Customs Tariff Act, 1975 (51 of 1975).
• The rules for the interpretation of the First Schedule to the said Customs Tariff Act, 1975, including the Section and Chapter Notes and the General Explanatory Notes of the First Schedule shall, so far as may be, apply to the interpretation of this notification.

ANNEXURE

(Ruchi Bisht)
Under Secretary to
Government of India

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Web Stories: Notification No. 47/2017 – Central Tax (Rate): Seeks to amend notification No. 11/2017- Central Tax (Rate) so as to notify CGST rates of various services as recommended by Goods and Services Tax Council in its 25th meeting held on 18.01.2018.

Official Income Tax Return filing website: https://incometaxindia.gov.in/