GST rates on mobile phones and accessories for mobile phones are determined under HSN Chapter 85. HSN Chapter 85 has different GST rate slabs according to which GST rates are applicable on the purchase of mobile phones. Therefore it is mandatory to mark the correct HSN code to prevent wrong ...
GST Calculation on Mobile Phones GST on mobile is calculated by multiplying the tax rate by the price of the mobile phone. Formula to Calculate Mobile GST Rate: GST amount = (Price of product × GST rate) / 100 For instance, if a mobile phone costs ₹25,000, the GST at 18% would...
The e-commerce sector has seen a significant decline in sales since the introduction of GST. This is primarily because the GST rates for most goods and services are higher than the previous indirect taxes. For example, the GST rate for mobile phones is 18%, which is higher than the 12.5%...
You can find the current GST Rate for service in Chapter 99 of the SAC Codes & GST Rates for Services.SAC CodeSAC Description 99 All Services 9954 Construction services 995411 Construction services of single dwelling or multi-dwelling or multi-storied residential buildings 995412 Construction ...
3. What is the rate of GST on mobile phones & accessories? There is a fixed GST rate of 12% on a mobile phone if you're buying a new smartphone. However, most of the smartphones and accessories come under the 85th Chapter of HSN. The GST rate on phone accessories is 18%. Howev...
Goods and Services Tax (GST) has been praised by the Finance Ministry which marked 7 years of its incorporation and mentioned that the same has drawn relief to the households via diminishing the taxes on significant items such as household appliances and
According to existing arrangements, for instance, if the tax rate is 18%, 9% CGST will go to the central government, whereas 9% SGST will be credited to state government accounts for intra-state transactions. On the other hand, inter-state transactions are dealt with under integrated GST or...
All Zero 0% GST zero rated for exports and associated services; some financial services; food and agriculture; medical goods and services Cape Verde VAT rates Rate Type Which goods or services 15% Standard All other taxable goods and services Chile VAT rates Rate Type Which goods or services ...
For example, if a product sells for ₹1,000 with an 18% GST rate, the total GST amount will be ₹180, split equally into CGST and SGST, i.e., ₹90 each. The seller collects ₹1,080 from the buyer, pays ₹90 to the Central Government, and ₹90 to the State Government...
It was decided by the Council that the GST rate on mobile phones and specified parts which presently attract 12% will now be at 18%. The move comes at the time when smartphone OEMs are already struggling with razor-thin profit margins, depreciating currency rate, and battling cut-throat ...