By introdusing GST, Government of india plans to reduce taxes on
goods and Services in the year 2017
What effect do you expect
on demand for Smart phones?
Explain giving reason
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Explanation:
There was no unified and centralised tax on both goods and services. Hence, GST was introduced. Under GST, all the major indirect taxes were subsumed into one. It has greatly reduced the compliance burden on taxpayers and eased tax administration for the government
The rate of GST on mobile phones and accessories were increased to 18% from 12% with effect from 1st April 2020 at the 39th GST Council meeting.
People also ask
**What is the GST on smartphones?**
18%
As per GST rules, the tax rate on mobile phones is the same across the nation. There are possibilities of a drop in the prices of mobile phones as the GST rates are now reduced. GST rates for mobile phones is 18% and the HSN code is 8517.
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