In 39th GST Council meeting on 14th March 2020 at Delhi, Council has decided to increase the GST rate on mobile phones to 18%. Previously such mobiles phones were chargeable at 12% however their parts and accessories were liable at 12% which was leading to inverted duty structure result in claim of GST Refund. To overcome this situation, GST rate on mobile phone has been increased to 18%. Such increased GST rate on mobile phones will be applicable from the date of notification which is yet to be published.
Related posts
Post Views: 241 Input Tax Credit under GST Input Tax Credit is defined under section 2(63) of CGST Act 2017 as “the credit of Input Tax”. Input Tax is defined in Section 2(62) of CGST Act 2017 as “input...
Blocked Credit, Conditions to avail ITC, How to reverse ITC, Interest Rate on reversal of ITC, ITC of compensation cess, ITC Provisions under GST, Section 17(5) of CGST, Situation where ITC cannot claim
Post Views: 95 All about Input Tax Credit on Capital Goods Input Tax Credit is the key pillar of GST. Input Tax Credit plays vital role in determination of net tax liability of a taxpayer. Under GST, “Input Tax...
How to Reverse ITC on Sale of Capital Goods, ITC on Capital Goods, ITC on Immovable Property, ITC on Motor Vehicle, Process for Reversal of ITC on Capital Goods, Whether ITC available on Capital Goods
Post Views: 244 Interest Under GST Government implemented GST by consolidating various State & Central taxes, these taxes has their different law as compare to each other. Every state’s law has various types of returns, due dates and interest...
Example of Interest calculation under GST, How to Calculate Interest on late payment of GST, Interest calculation in GST, Interest on ITC in GST, Interest on late payment of GST, Interest rate on wrong input credit, Rate of Interest under GST