GST slashed for Computer Monitors Upto 20 inch
The big relief came to traders as GST Council approved changes tax rates of at least 30 products. IT traders got relieved when council announced a slashed tax rate on computers monitors up to 20 inches. Earlier 28% of GST was imposed on computers monitors up to 20 inches but from now on 18% will be the GST rate. The said rate will be soon implemented. Finally, consumers have now many reasons to cheer.
The announcement was done by GST Council in its 21st Meeting which was held on 9th September. The council has approved many changes in at least 30 products tax rates. Commenting on the reduced rate on computer monitors many well known IT channel partners have shares their views.
Talking to The DQ Week Saket Kapoor of Green Vision, Channel partner in Delhi says, “We are happy with this announcement, prior to this we had already proposed tax cut in the monitor’s rate to the council with help of IT Minister in June. These reduced rates will definitely help to grow our business.”
‘This is a good decision and I personally appreciate this and it is a step toward rationalization in the tax slab. And this is what the community wanted’ Kapoor adds further.
Sharing the views on reduced GST rate TAIT General Secretary, Sameer Mehta owner of Computer Callers says, ‘The GST Council has already decided to constitute a Group of Ministers to monitor and resolve the IT challenges faced during GST implementation. Let’s hope for the best as of now we are waiting for the approval of President of India for this decision. We traders are hoping that this will be definitely getting accepted. And it will also get implemented soon’.
‘Now the market is selling monitors at 28%. Whenever selling at 18% will start the 10% reduced tax will take us to the increase in consumers. The festive season is coming so it will be good gaining for the partners who sells monitors’ adds Mehta.