The GST Council decided on Saturday to increase GST rates on mobile phones from 18% to 18 percent from April 1, said Finance Minister Nirmala Sitharaman. The Board also decided to cut the GST on aircraft maintenance repair review (MRO) services to 5 percent from 12 percent, while the tax rate on handmade and machine-made matches has been streamlined to 12 per hundred.
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The Council, at its meeting chaired by the Union’s finance minister, decided to waive surcharges for delay in filing annual returns for fiscal year 2018, fiscal year 2019 by entities with a turnover less than Rs. Rs 2 million The minister also said that interest will be charged on the net tax liability as of July 1 for delays in GST payments.
Sitharaman said the GST Council has asked Infosys to deploy more skilled manpower, increase the capacity of the GST network hardware to ensure that the system is flawless. The council has asked Infosys, which has designed the GSTN, to provide a better-prepared GSTN system by July 2020, it added.