THE GOODS AND SERVICES TAX (COMPENSATION TO STATES) AMENDMENT ORDINANCE, 2017 has received the President Assent on 2nd September, 2017.

Following are the changes made to the Schedule to THE GOODS AND SERVICES TAX (COMPENSATION TO STATES) ACT, 2017:

 

SNo

Particulars Tariff Heading Existing Rate

New Rate

4A Motor vehicles for the transport of not more than thirteen persons, including the driver

8702 10, 8702 20, 8702 30 or 8702 90

Newly inserted

Twenty-five per cent. ad valorem
5

Motor cars and other motor vehicles principally designed for the transport of persons (other than motor vehicles for the transport of ten or more persons, including the driver), including station wagons and racing cars.

8703

Fifteen per cent. ad valorem

Twenty-five per cent. ad valorem

Currently there will be no change in the effective rates of Compensation cess [as prescribed vide Notification No. 1/2017-Compencess Cess [Rate] dated 28.06.2017] on specified motor vehicles. The effective rate of Compensation cess on motor vehicles can take place only after recommendation from the GST Council and notification of the same.

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