Notification No. 1/2018 rate
Date: February 25, 2018
Subject: Amendment to Compensation Cess rates relating to old and used motor vehicles.
Description:
This notification amends Notification No. 1/2017 by inserting Entry 42A providing NIL compensation cess on old and used motor vehicles, subject to non-availment of input tax credit. It also amends tariff classification for certain motor vehicles. The notification rationalises cess levy in the automobile sector.
Issued for earlier notification?
Yes — it amends Notification No. 1/2017–Compensation Cess (Rate).