The Central Government notified the rates of compensation cess applicable to specified services under the new indirect tax regime.
As per the notification, for the services like transfer of the right to use any goods for any purpose for cash, deferred payment or other valuable consideration and for the services such as transfer of the right in goods or of undivided share in goods without the transfer of title, cess, same rate of cess as applicable on similar goods involving transfer of title in goods will be levied.
Rate of Cess would be ‘Nil’ in case of any other supply of services.
The notification is applicable from 1st July, 2017.
Read the full text of the Notification below.
