Margin Scheme: GST on Old and Used Vehicles increased to 18%:

Margin Scheme: GST on Old and Used Vehicles increased to 18% The Central Board of Indirect Taxes and Customs (CBIC) has notified the margin scheme wherein GST on old and used Vehicles increased to 18% via issuing a Notification. The Notification read as follows: In exercise of the powers conferred by sub-section (1) of section 5 of the Integrated Goods and Services Act, 2017 (13 of 2017), the Central Government, on being satisfied that it is necessary in the public interest so to do, on the recommendation of the Council, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 9/2018-Integrated Tax (Rate), dated the 25th January, 2018, published in the Gazette of India, Extraordinary, Part II, section 3,sub-section (i), vide number G.S.R. 86(E), dated the 25th January, 2018, namely :- In the said notification, in the TABLE, against S. No. 4, in column (4), for the entry “12%”, the entry “18%” shall be substituted. This notification shall come into force with immediate effect. For Official Notification Download PDF Given Below: