GST was implemented on July 1, 2017.
In 6 years since the implementation, the government has decreased GST on mobile phones by 19.3%.
It’s been 6 years since the Goods and Services Tax (GST) was implemented. It was July 1, 2017, when the country’s largest tax system was reformed since its independence. GST has revitalised the country’s indirect tax structure during the last 6 years. Meanwhile, social media and some sources claim that the government has decreased GST rates on numerous home goods, including mobile refrigerators, making them cheaper.
On the 6th anniversary of GST, the Finance Ministry and PIB tweeted about the benefits that the country received after the establishment of GST. One tweet compares rates after and before the imposition of GST. The tweet read, “With reduced taxes, GST brings happiness to every home: Relief through GST on household appliances and mobile phones.”
This tweet clearly stated how much tax was paid on mobile phones and other
home appliances
before the implementation of GST. In addition, the tax rates after the implementation of GST have been disclosed in the tweet. Let us inform you that the government has not recently changed the GST rates for household plans, including mobile phones.
In the 6 years between then and now, the government has decreased the GST on mobile phones by 19.3%. Previously, customers had to pay 31.3% GST when purchasing a cell phone, but now only 12% GST is required.
The Finance Ministry announced on Saturday that GST collection increased by 12% in June to more than Rs 1.61 lakh crore. For the fourth time since the commencement of the GST tax system 6 years ago, gross tax has crossed Rs 1.60 lakh crore.
According to the Finance Ministry, the average monthly gross GST collection for the first quarters (April-June) of 2021-22, 2022-23 and 2023-24 is Rs 1.10 lakh crore, Rs 1.51 lakh crore, and Rs 1.69 lakh crore respectively.
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