Posted on 19-04-2021 by Admin
Many things are going to be expensive from April 1. The Central Board of Indirect Taxes and Customs (CBIC) has issued a notification in this regard. These include mobile phones and matches. Maintenance and repair services for the aircraft will become cheaper. Actually, from April 1, the revised GST rate will be applicable on them.
From April 1, there will be 18% GST on mobile phones. Currently, 12 percent GST was to be paid on mobile. All types of matches will attract 12 percent GST. Earlier, the GST rate on matches was 5 to 18 percent. Hand-made matches used to charge 5 percent, while machine-made matches had a tax rate of 18 percent.
5% GST will be levied on services related to maintenance and repair work (MRO) required for the aircraft, which is much lower than the earlier rate. Earlier, these services were taxed at the rate of 18%. These decisions were taken by the GST Council earlier this month, which are being implemented from April 1.
After the implementation of GST, the prices of many things will change. If some things are cheap then there will be a huge jump in the prices of some things. This will have a direct impact on the general public. After GST is implemented, the one who will benefit the most is the business man. After GST is implemented, there may be a more expensive one. They are products like monitors and printers. After the implementation of GST bill, these front are being speculated to be expensive.
The fear of being expensive is haunting. Companies making IT hardware have urged the government to raise the same rate of goods and service tax (GST) to 18 per cent on all types of IT products such as monitors and printers. There is a proposal to impose a tax of 28% on some such goods, these products can be expensive if the proposal is passed.
Following this decision, the Manufacturers Association for Information Technology (MAT), an organization of the IT hardware industry, has sought clarification from the government. It has also demanded that IT products be taxed at a lower rate of 18 per cent. Which is equal to the current rate.