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Smartphones may get expensive soon

The price of smartphones will increase from April. This is because the GST on the smartphone has been increased. The decision was taken by the GST Council on Saturday.

The GST Council decided to increase GST rates on mobile phones to 18% from 12% with effect from April 1.

The council also decided to slash GST on maintenance repair overhaul (MRO) services for aircraft to 5% from 12% while the tax rate on handmade and machine-made matchsticks has been rationalised to 12%

The council, in its meeting chaired by the Union finance minister, decided to waive late fee for delayed filing of annual returns for FY2018, FY2019 by entities with a turnover of less than Rs 2 crore. Interest will be levied on net tax liability from July 1 for delayed GST payments.

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