Integrated Tax Notifications (Rate)
IGST Notification rate 09/2018
| Title | seeks to amend Notification No.1/2017-IGST (Rate) |
| Number | 09/2018 |
| Date | 25-01-2018 |
| Download | |
1) In exercise of the powers conferred by sub-section (1) of section 5 of the
Integrated Goods and Services Tax Act, 2017 (13 of 2017), the Central
Government, on being satisfied that it is necessary in the public interest so
to do, on the recommendations of the Council, hereby exempts the central tax on
inter-state supplies of goods, the description of which is specified in column
(3) 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 are given in corresponding entry in column (2), from so much tax
as specified in Schedule IV of Notification No. 1/2017 – Integrated Tax (Rate),
as is in excess of the amount calculated at the rate specified in the
corresponding entry in column (4), of the said Table, on the value that
represent margin of the supplier, on supply of such goods.
Table
| S.No. | Chapter, Heading, Subheading or Tariff item |
Description of Goods | Rate |
|---|---|---|---|
| (1) | (2) | (3) | (4) |
| 1. | 8703 | Old and used, petrol Liquefied petroleum gases (LPG) or compressed natural gas (CNG) driven motor vehicles of engine capacity of 1200 cc or more and of length of 4000 mm or more. Explanation. – For the purposes of this entry, the specification |
18% |
| 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 |
18% |
| 3. | 87 | Old and used motor vehicles of engine capacity exceeding 1500 cc, popularly known as Sports Utility Vehicles (SUVs) including utility vehicles. Explanation. – For the purposes of this entry, SUV includes a |
18% |
| 4. | 87 | All Old and used Vehicles other than those mentioned from S. No. 1 to S. No.3 |
12% |
Explanation –For the purposes of this notification, –
(i) in case of a registered person who has claimed depreciation under
section 32 of the
Income-Tax Act,1961(43 of 1961) on the said goods, the value that represents
the margin of the supplier shall be the difference between the consideration
received 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 not apply, if the supplier of such goods has availed
input tax credit as defined in clause (63) of section 2 of the Central Goods
and Services Tax Act, 2017, CENVAT as defined in CENVAT Credit Rules,
2004 or the input tax credit of Value Added Tax or any other taxes paid, on
such goods.
GST Learn 