Is GST applicable on mobile recharge?
We are providing mobile recharging service, is it taxable in GST? Yes, it is taxable under GST.
18%
What is the GST treatment on a mobile recharge business from a company to a distributor and retailer?
Rate of tax - 18%.
Who can claim ITC? A person who has registered under GST can claim input Tax Credit only if the following conditions are met. And yes, the mobile phones/ laptops would be covered under the ITC as they are used in the furtherance of business.28-Aug-2022
How do you calculate GST on mobile?
The formula for GST calculation:
How to calculate GST using GST Formula?
What is the GST on iPhone?
The counterpoint of this is 18 per cent GST, which is standard across India and is included in the maximum retail price. Of the Rs 69,900 iPhone 13 mini, the GST alone amounts to Rs 10,662.71. This had been added over and above the cost of the iPhone, which also includes custom duties.15-Sept-2021
Since the government has given you Rs. 21,356 benefit of ITC assuming that you will use the asset for the 5 years. So as per GST law it is mandatory to reverse ITC for the remaining useful life of the IPhone (Capital Good) to the Government, otherwise interest @18% will be levied accordingly on the taxpayer.21-Feb-2022
Which items are in 28 GST slab?
What Comes Under 28% GST Rate?
Currently Apple iPhone 13 attracts a GST of about Rs. 10,662.18-Sept-2021
How do I calculate GST 17%?
Example
Let's say before GST, your subtotal is x dollars. Then the total is this amount (x) PLUS the gst amount (5% of x). So the Total = x + 5%(x) = 1x + 0.05x = 1.05x, because 5% means 0.05.
How do I deduct 18 GST from total?
For example, if a product or service costs Rs. 100 and the GST levied on that is 18%, the GST amount will be 100 x 18% = Rs. 18.
The GST council has fitted over 1300 goods and 500 services under four tax slabs of 5%, 12%, 18% and 28% under GST. This is aside the tax on gold that is kept at 3% and rough precious and semi-precious stones that are placed at a special rate of 0.25% under GST. 7% goods and services fall under this category.
What is the GST amount?
What is GST? GST stands for “Goods and Services Tax”, and is a 10% tax applied to the sale of most goods, services, and items in Australia.
10 tips to keep your GST payable at a minimum
Can I claim refund in GST?
As per Section 54(3) of the CGST Act, 2017, a registered person may claim refund of unutilised input tax credit at the end of any tax period. A tax period is the period for which return is required to be furnished. Thus, a taxpayer can claim refund of unutilised ITC on monthly basis.
Can I claim input credit on GST on a laptop? Yes, if you purchase from a GST-registered retailer and receive a debit note/tax invoice. You can file for input credits.
Which country is iPhone cheapest?
According to the list, the United States is the cheapest area to buy any model of the iPhone 13 series. However, in some countries, such as Brazil, you may not wish to get an iPhone. Some iPhone models are sold at their maximum price in Brazil.13-Jun-2022
Any taxpayer can claim a refund of any tax, interest, penalty, fees or any other amount paid by him by filing an application electronically in FORM GST RFD-01 through the GST Common Portal or through a GST Facilitation Centre.
What is the GST limit for iPhone 12 pro?
The 128GB variant costs Rs 84,900. The same goes for countries like China, Japan, UK, Russia — where the iPhone 12 and 12 Pro are cheaper than what they cost in India. The government of India had hiked the GST rate from 12% to 18% which made the iPhone costlier.25-Oct-2020
Is GST applicable on mobile recharge?