Reduced rate of compensation cess on the leasing of motor vehicles – where purchased and supplied on lease before 1.7.2017
7/2017 Dated:- 13-10-2017 Compensation CESS Rate
GST
GST Cess Rate
GST CESS Rate
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(Department of Revenue)
Notification No. 7 /2017-Compensation Cess (Rate)
New Delhi, the 13th October, 2017
G.S.R. 1297(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 specifi
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G.S.R. 720 (E) dated the 28th June, 2017.
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2.
8702, 8703
Motor Vehicles
65% 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.
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2. Provided that nothing contained in this notification shall apply on or after1st July, 2020.
Explanation -For the purposes of this notification, –
(i) “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).
(ii) The rules for the interpretation of th
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