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 more job opportunities here.

Bad news for the people who delayed their laptop/ PC purchase as prices of these products rose by 3%- 4%. Earlier tax on these products was around 14% - 15%. But from now it is 18%. I personally don't think that this is a good idea, but maybe this is gonna benefit the nation.

One thing is sure that GST will bring huge economic reform in India as the nation steps towards a more transparent system and standardized taxation.
So, that's it from my side guys, hope you liked this article. Stay tuned for more.

Comments

Post a Comment

Popular posts from this blog

Machine Learning: Supervised Learning 3

-
Image
Bayesian Network Bayesian Network is a type of probabilistic graphical model that uses Bayesian inference for probability computation. Representation of casual relations makes the representation and inference efficient.  Bayesian Network It is a graphical model that efficiently encodes the joint probability distribution for a large set of variables. Arcs represent probabilistic dependence on variables. Lack of an arc represents independence. The network structure is a directed acyclic graph. Support Vector Machines It is a machine learning algorithm that is used in classification and regression. But it is mostly used in classification problems. What it basically does is, it plots each data item as a point in n-dimensional space with values of each feature being values of a particular point and then separates the classes using a hyper-plane. The line that separates the classes is determined by a subset of points know as Support Vectors. Points with a ...
Read more

THE UPCOMPING ANDROID N FEATURES

-
Image
After Android Marshmallow (6.0) Google is planning to launch its successor Android N and its  Developer preview is already available on the internet which is currently supported by the nexus devices. Here is the list of the features of the upcoming OS... Android N Developer Preview: what is it? Available on some Nexus devices (Nexus 6P, Nexus 5X, Nexus 6, Pixel C, Nexus 9 and Nexus Player), the Android N Developer preview is the test version of the upcoming OS. It is basically for the developers. It does not contain all the new features but only some of them. According to Google the first version of the OS will be sent to all the manufacturers this summer. Lets see What's new in the upcoming version! 1. We all have seen the side menu that pops up in the Google apps and many other app that we install. This system has now been embedded in the System Settings app of the OS. For example, if you are in the Display section of the settings you can qui...
Read more