Current context: The 39th GST council meeting was concluded on 14th March 2020 in New Delhi.
a. 5%
b. 12%
c. 18%
d. 28%
- The Goods and Services Tax Council has made recommendations to increase GST rates on mobile phones to 18% from existing 12%.
- The GST rates on mobile phones will come into effect from 1st April 2020.
- Some important decisions taken at the GST meet are:
- The GST rate on all types of matches (Handmade and other than Handmade) has been rationalised to 12% (from 5% on Handmade matches and 18% on other matches).
- Reduced GST rate on Maintenance, Repair and Overhaul (MRO) services in respect of aircraft from 18% to 5% with full ITC.
- It was discussed to link statement of outward supplies in Form GSTR 1 to the liability in Form GSTR 3B.
- Relaxation from furnishing Form GSTR 9C to taxpayers having aggregate turnover below Rs. 5 crores.
- Due date for annual return in FORM GSTR-9 and reconciliation statement in FORM GSTR-9C for FY 2018-19 to be extended to 30th Jane 2020.
- A new facility called ‘Know Your Supplier’ to be introduced so as to enable every registered person to have some basic information about the suppliers with whom they conduct or propose to conduct business.
Question:
Q.1 The 39th GST council meeting has decided to increase GST rates on mobile phones to ________ %?a. 5%
b. 12%
c. 18%
d. 28%
