Tax on mobile phones: The GST Council on Saturday decided to increase the rate of GST on the phone to 18 percent from 12 percent with effect from April 1, said Finance Minister Nirmala Sitharaman. The Council also decided to cut the GST on maintenance repair overhaul (MRO) services for aircraft up to 5 percent from 12 percent while the tax rate on lighters handmade and machine-made has been rationalized to 12 percent.
Council at a meeting chaired by Union finance ministers decided to waive late fees for delayed filing of annual returns for FY2018, FY2019 by entities with a turnover of less than Rs. 2 crores. The Minister also said that interest will be charged on the net tax liability of 1 July for delayed payment of GST.
Sitharaman said the GST Council has asked Infosys to deploy more skilled labor, increasing the GST Network hardware capacity to ensure that the system is glitch-free. Council has asked Infosys, which has designed GSTN, to provide better GSTN system prepared in July 2020, he added.
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