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

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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 13th 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

Sl. No.Tariff item, sub- heading, heading or ChapterDescription of GoodsRateCondition No.
(1)(2)(3)(4)(5)
1.8702, 8703Motor Vehicles65% of cess applicable otherwise on such goods under Notification No. 1/2017- Compensation Cess (Rate) dated, 28th June, 2017 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub Section (i), vide G.S.R. 720 (E) dated the 28th June, 2017.1
2.8702, 8703Motor Vehicles65% of cess applicable otherwise on such goods under Notification No. 1/2017- Compensation Cess (Rate) dated, 28th June, 2017 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub Section (i), vide G.S.R. 720 (E) dated the 28th June, 2017.2

2.         Provided that nothing contained in this notification shall apply on or after1st 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

Condition No.Condition
1i.      The Motor Vehicles was purchased by the lesser prior to 1st July, 2017 and supplied on lease before 1st July, 2017
2The supplier of Motor Vehicle is a registered person.Such supplier had purchased the Motor Vehicle prior to 1st July, 2017 and has not availed input tax credit of central excise duty, Value Added Tax or any other taxes paid on such vehicles.

(Ruchi Bisht)
Under Secretary to
Government of India

Read More: 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.

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/

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