Central Tax (Rate) Notification No 08 of 2018 dt 25th January, 2018 under GST

  

Notification no 08/2018 Central Tax (Rate) date on 25th January, 2018, GST

 

seeks to amend Notification No.1/2017-CGST (Rate) 

The extract of GST Notification No. 08/2018- Central Tax (Rate) is given below: 

Notification No. 08/2018- Central Tax (Rate), GST

 

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

 

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

(Department of Revenue)

 

Notification No. 8/2018 -Central Tax (Rate)

 

New Delhi, the 25th January, 2018

 

G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 11 of the Central Goods and Services Tax Act, 2017 (12 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 intra-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 -Central 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,

 

Rate

 

Heading,

Description of Goods

 

 

Sub-

 

 

 

heading or

 

 

 

Tariff item

 

 

 

 

 

 

(1)

(2)

(3)

(4)

 

 

 

 

1.

8703

Old and used, petrol Liquefied petroleum gases (LPG)

9%

 

 

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 of the motor vehicle shall be determined as

 

 

 

per the Motor Vehicles Act, 1988 (59 of 1988) and the

 

 

 

rules made there under.

 

 

 

 

 

2.

8703

Old and used, diesel driven motor vehicles of engine

9%

 

 

capacity of 1500 cc or more and of length of 4000 mm

 

 

 

Explanation.  -  For  the  purposes  of  this  entry,  the

 

 

 

specification of the motor vehicle shall be determined as

 

 

 

per the Motor Vehicles Act, 1988 (59 of 1988) and the

 

 

 

rules made there under.

 

 

 

 

 

 

3

8703

Old  and  used  motor  vehicles  of  engine  capacity

9%

 

 

exceeding 1500 cc, popularly known as Sports Utility

 

 

 

Vehicles (SUVs) including utility vehicles.

 

 

 

Explanation.  -  For  the  purposes  of  this  entry,  SUV

 

 

 

includes a motor vehicle of length exceeding 4000 mm

 

 

 

and having ground clearance of 170 mm. and above.

 

 

 

 

 

4.

87

All Old and used Vehicles other than those mentioned

6%

 

 

from S. No. 1 to S.No.3

 

 

 

 

 

 

 

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.

 

  1. 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.

 

[F.No.354/1/2018-TRU]

 

 

(Ruchi Bisht)

 

Under Secretary to the Government of India

 

 

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Comments


Arvind: i have purchase old car from unregistered person...now i want to sale the same ....whether said notification apply or not

pradeep: my client have sold old used truck to other transporter. please confirm GST rate applicable. no ITC TAKEN ON SAID TRUCK .

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