The Goods and Services Tax (GST) Council on Saturday has increased the tax rate on mobile phones and specified parts to 18 percent. Currently, mobile phones attract a GST rate of 12 percent, while its inputs are taxed at 18 percent. The Council, chaired by union finance minister Nirmala Sitharaman, has also given relief to domestic maintenance, repair and overhaul (MRO) services, by slashing the rate to 5 percent with a full input tax credit (ITC).
The Goods and Services Tax (GST) Council on Saturday has increased the tax rate on mobile phones and specified parts to 18 percent. Currently, mobile phones attract a GST rate of 12 percent, while its inputs are taxed at 18 percent. The Council, chaired by union finance minister Nirmala Sitharaman, has also given relief to domestic maintenance, repair and overhaul (MRO) services, by slashing the rate to 5 percent with a full input tax credit (ITC).
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