Government Increases GST Rates in Smartphones and Specific Mobile Parts
The GST Council has announced new amendments in the Goods and Service Tax (GST) slab which would increase the GST rates in smartphones and specified mobile parts to 18% which was earlier set at 12%. However, this new tax rate might harm the telecom industry as the market is already facing financial distress because of the irregular supply chains caused by the deadly virus Covid-19. Mobile makers such as Xiaomi,... Read More