Realme adapts GST hike on smartphones, Narzo series to not be affected
Technology | March 24, 2020 16:46 ISTRealme Narzo 10 and Realme Narzo 10A during a digital-only event on March 26 and their prices will not be affected by the GST hike.
Realme Narzo 10 and Realme Narzo 10A during a digital-only event on March 26 and their prices will not be affected by the GST hike.
Nirmala Sitharaman said that the central government is preparing an economic package to help the country tide over losses incurred owing to the Covid-19 outbreak.
Increasing GST on mobile phones to 18 per cent from 12 per cent at the time of economic slowdown coupled with coronavirus outbreak will derail the industry and lead to job losses, industry body ICEA said on Sunday.
Union Minister of Finance and Corporate Affairs Nirmala Sitharaman informed that it was decided in the GST Council meet to raise the GST rate on mobile phones and specific parts, presently attracting 12% GST, to be taxed at 18%.
The GST Council on Saturday discussed the impact of coronavirus on the economy, Finance Minister Nirmala Sitharaman said.
The Goods and Services Tax (GST) on mobile phones has been increased from 12 per cent to 18 percent. This change in tax slab will have a direct impact on the pricing of the mobile phones in India.
Goods and Services Tax (GST) hiked from 12 percent to 18 percent on mobile phones. Here's what you need to know
GST rates on mobile phones, fertilisers, man-made fabrics and garments are likely to be hiked to 18 per cent in the next GST Council meeting on March 14.
The GST Council is likely to rationalise tax rates on five sectors, including mobile phones, footwear and textiles, and defer implementation of the new return filing system and e-invoicing in its meeting on March 14.
Karnataka is facing unprecedented economic difficulties following a Rs 8,887 crore reduction in the state's share in central taxes, cut in allocation under 15th finance commission and a Rs 3,000 crore hit in GST compensation, Chief Minister B S Yediyurappa indicated on Thursday.
The government has collected Rs 1.05 lakh crore as GST revenue in February, up 8 per cent over the same month last year.
The government is planning to launch lottery offer under the Goods and Services Tax (GST) from April 1 by conducting lucky draws every month for invoices of all business to customer (B2C) transactions.
Finance Minister Nirmala Sitharaman on Sunday asked civil accounts officers to focus on bringing in more efficient and adaptive technologies to further smoothen the working of the Public Financial Management System (PFMS).
The central government has released Rs 19,950 crore as GST compensation to states, taking the total amount released to them to over Rs 1.2 lakh crore. In a statement, the finance ministry said Rs 19,950 crore was released to states and union territories on last Monday.
Kunal Jadhav, an employee of the GST Bhavan here, showed immense courage and patriotism when he climbed nine floors of the fire-hit building on Monday to save the national tricolour from being burnt.
Fire fighting operation is underway at GST Bhavan, in Mazgaon area of Mumbai on February 17.
A level III fire has broken out in a GST Bhavan at Maharana Pratap Chowk in Mumbai's Mazgaon area on Monday. At least five fire tenders were deployed to battle the blaze even as thick clouds of smoke billowed out of the upper two floors.
A level III fire broke out in GST Bhavan, in Mazgaon area of Mumbai on February 17.
Mumbai: Fire brakes out in GST Bhavan in Mazgaon area. Fire fighters are at the spot.
The GST Network on Sunday said around 92 per cent of large taxpayers with turnover of over Rs 2 crore have filed annual returns for 2017-18 fiscal.
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