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Mobile Phones To Get Costlier As GST Council Hikes Rates To 18%

Mobile Phones To Get Costlier As GST Council Hikes Rates To 18%

Submitted by • March 16, 2020 www.communicationstoday.co.in

The Goods and Services Tax (GST) Council Saturday increased rates on mobile phones and specified parts from 12 percent to 18 percent. This will come into effect from April 1. The announcement was made by Union Finance Minister Nirmala Sitharaman after she chaired the 39th meeting of state and Union Territory finance ministers as well as senior officials in New Delhi.The Council also decided to reduce to the tax rate on maintenance repair overhaul (MRO) services of aircraft to 5 percent from 18 percent. The rate on handmade and machine-made matchsticks, meanwhile, has been rationalised to 12 percent.During the meeting today, the Council also decided to waive late fees for delayed filing of annual Income Tax returns for FY18-19 by entities with a turnover of less than Rs 2 crore.

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