Impact of GST on Gadgets and related services
GST stands for GOODS AND SERVICES TAX. It is an indirect tax levied on goods and services. Under this scheme goods and services are taxed at following rates, 0%, 5%, 18%, 28%. Before the implementation of GST people were confused on how it is gonna impact their shopping bill. Now that it is in effect, let's see its impact on the gadgets and related services market. Earlier the tax rate on smartphones was nearly 13.5% but after GST it's 12%. All parts and components of the smartphone come under this category. There is no remarkable change in the wireless services like transmission and reception of voice and communication, landline telephone sets and wired connection due to GST. If we talk about smartphones that are imported, they are gonna get costlier as the government is gonna impose a 10% customs duty on and indirectly it is gonna benefit India as manufacturers will then consider establishing their manufacturing units in India that will create...