Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<keyword id="19906778" type="General" weightage="20" keywordseo="Infosys" source="keywords">Infosys</keyword> says that the Karnataka State authorities are withdrawing the pre-show cause <keyword id="19951327" type="General" weightage="20" keywordseo="GST" source="keywords">GST</keyword> notice issued to Infosys with a tax demand of Rs 32,403 crore, the company informed the exchange in a filing on Friday, "The Company has received a communication from Karnataka State authorities, withdrawing the pre-show cause notice and has directed the Company to submit a further response to DGGI central authority on this matter," said Infosys Earlier on Wednesday the Karnataka State GST authorities issued a pre-show cause notice to Infosys for payment of GST of Rs. 32,403 crores for the period July 2017 to March 2022 towards the expenses incurred by overseas branch offices of <keyword id="19916185" type="General" weightage="20" keywordseo="Infosys-Limited" source="keywords" meta.keywordsubtype="org" meta.entityname="Infosys Limited" meta.hostid="345" meta.entityid="Infosys Limited">Infosys Limited</keyword>. The Company responded to the pre-show cause notice and stated that the Company believes that as per regulations, GST is not applicable to these expenses. "Additionally, as per a recent Circular (circular number 210/4/2024 dated June 26, 2024) issued by the Central Board of Indirect Taxes and Customs on the recommendations of the <keyword id="19994390" type="General" weightage="20" keywordseo="gst-council" source="keywords">GST Council</keyword>, services provided by the overseas branches to Indian entity are not subject to GST," said the company. The clarification from Infosys came post news articles published on Wednesday for non-payment of GST towards expenses incurred by the overseas branches of the Company. Infosys said GST payments are eligible for credit or refund against the Infosys says that the Karnataka State authorities are withdrawing the pre-show cause GST notice issued to Infosys with a tax demand of Rs 32,403 crore, the company informed the exchange in a filing on Friday, "Infosys has paid all its GST dues and is fully in compliance with the central and state regulations on this matter," the statement said. (ANI) SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/ola-electric-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112185870.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/ola-electric-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112185870.cms" target="_blank">Ola Electric IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/mobile/news/nothing-phone-2a-plus-with-dimensity-7350-pro-chipset-launched-in-india-starting-at-29999/articleshow/112164963.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/nothing-phone-2a-plus-with-dimensity-7350-pro-chipset-launched-in-india-starting-at-29999/articleshow/112164963.cms" target="_blank">Nothing Phone (2a) Plus with Dimensity 7350 Pro chipset launched in India starting at ₹29,999</a><a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-decline-by-2-in-q2-2024-xiaomi-retakes-the-throne/articleshow/112162312.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-decline-by-2-in-q2-2024-xiaomi-retakes-the-throne/articleshow/112162312.cms" target="_blank">Indian smartphone shipments decline by 2% in Q2 2024, Xiaomi retakes the throne</a>

Infosys says Karnataka govt withdrawing pre-show cause notice on GST notice

Union Minister of <keyword id="19994242" type="General" weightage="20" keywordseo="road-transport" source="keywords">Road Transport</keyword> and Highways, <keyword id="19897455" type="General" weightage="20" keywordseo="Nitin-Gadkari" source="keywords">Nitin Gadkari</keyword>, asked states to pitch for reducing GST on flex-engine cars. Gadkari stated that the government needs the support of the states to promote <keyword id="23007559" type="General" weightage="20" keywordseo="flex-engine-vehicles" source="keywords">flex engine vehicles</keyword> by reducing GST up to 12 per cent on <keyword id="23007560" type="General" weightage="20" keywordseo="flex-engines" source="keywords">flex engines</keyword>, cars, and scooters. "We will try to convince all the finance ministers. Yesterday I had the opportunity to discuss with the finance minister of Maharashtra and I told him, you please go to the meeting and put up this proposal for reducing GST up to 12 per cent on flex engines, cars, and scooters," he said. Addressing IFGE's India Bio-Energy and Tech Expo in New Delhi, the Union Minister added that factors such as economic viability, proven technology, availability of raw material, and marketability of the finished product are in favour of the development of these engines. Gadkari said that developing flex-fuel engines is the target of the government, and we have the "proven technology" to make it possible. "I feel that now the flex fuel is very, very important. Already the managing director of Tata, Suzuki and Toyota, they have decided to start flex engine car in the country," the Union Minister stated. Gadkari added, "So the flex engine is the ultimate target. As far as the market is concerned, there is huge potential. Everywhere, as far as a comparison between fossil fuel and <keyword id="20228373" type="General" weightage="20" keywordseo="biofuel" source="keywords">biofuel</keyword>, in the Indian scenario, the cost of biofuel is less and there is no pollution. So that is the important reason that it is going to be advantageous to the common man also," the Minister stated. Going further, Gadkari said that vehicle companies such as Bajaj, TVS, and Hero, along with two or three other companies, have their models ready with flex engines to run on 100 per cent <keyword id="20069651" type="General" weightage="20" keywordseo="ethanol" source="keywords">ethanol</keyword>. He said, "Many of the generator manufacturers are working to change the diesel generators into ethanol. One of the companies is also they are taking an interest in converting 5 lakhs of telecommunication towers there and 250 crore litre consumption of diesel. Now they are also changing into ethanol." He further stated that the raw material is already available in India, there is a need to think about ways to increase the production of biomass, which can be useful for making biofuel. (ANI) "I feel that this is the time for the country that we have got very good potential. We need to create positivity and confidence in the minds of the stakeholders. Now things are open. The market is going to increase. Availability of ethanol, again, I am very much thankful to Hardeep Puri ji, our Minister group is there. We already have a clear policy now," Gadkari said. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/webstories/realme-13-plus-5g-vs-iqoo-z9s-pro-battle-of-the-under-25000-smartphones/slidelist/112924868.cms">Realme 13 Plus 5G vs iQOO Z9s Pro – Battle of the under ₹25,000 smartphones</a> <a href="https://www.businessinsider.in/stock-market/webstories/baazar-style-retail-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112920678.cms">Baazar Style Retail IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-september-2024/slidelist/112917920.cms">Upcoming cars launching in India in September 2024</a>

Gadkari asked states to pitch for reducing GST on flex engine vehicles

<ul><li>The <keyword id="19955368" type="General" weightage="100" keywordseo="Budget-2024" source="keywords">Budget 2024</keyword> will be tabled by the finance minister Nirmala Sitharaman on July 23.</li><li>The tech and electronics industry’s expectations from the Budget 2024 include a push for localisation, <keyword id="20335594" type="General" weightage="20" keywordseo="reduced-GST" source="keywords">reduced GST</keyword> and more.</li><li>Here are the key expectations from the tech and electronics industry from Budget 2024.</li></ul> The Budget 2024 is set to be tabled on July 23 by the finance minister Nirmala Sitharaman and like each sector, the Indian tech and electronics industry is ready with its list of expectations from the Narendra Modi-led government in the upcoming budget. The Indian government has been pushing for an increase in electronics manufacturing in India with schemes like Make in India and the Production Linked Incentive (PLI) scheme. This article delves into the key budget expectations of the tech and electronics industry in India. <h2><keyword id="19869633" type="General" weightage="20" keywordseo="Budget-2024-expectations" source="Orion">Budget 2024 expectations</keyword></h2>In the last budget, the government had reduced taxes on key smartphone components such as camera lenses and lithium-ion batteries. This move was aimed at boosting smartphone production in India and bringing the costs down. Companies and consumers both will hope for similar boosts in the upcoming budget as well. <div type="Article" hostid="261" msid="111573138" title="Union Budget 2024: When will it be presented, what time, where to watch and what are various sectors expecting?" mstype="2" mssubtype="0"></div> The <keyword id="19981334" type="General" weightage="20" keywordseo="PLI-scheme" source="keywords">PLI scheme</keyword> has played a key role in boosting domestic production in various sectors. The introduction of a revamped PLI scheme for the manufacture of various consumer technology products such as smartphones, laptops, wearables and more will give a good boost to domestic production. “Guided by Aatmanirbhar Bharat, we seek government support for extensively localizing component production, fostering a lucrative environment where homegrown brands can lead globally. Incentivizing domestic production through tax breaks, subsidies, and R&amp;D funding will enhance India's manufacturing capabilities,” said Amit Khatri, co-founder, Noise. Industry leaders are hoping for steps aimed at boosting the disposable income of consumers. “Higher disposable incomes will lead to a promising growth impetus. We look forward to a budget that will create a stable and growth-oriented tax environment, which will help in ease of doing business, and will lead to increased economic activity and demand generation,” said Pradeep Bakshi, chief executive officer, Voltas. Companies are also hoping for simplified GST rules and reduced GST rates. In one such instance, TV makers are hoping for a reduced GST rate for TVs sized above 32 inches. “One expected move is reducing the GST rate on LED TVs larger than 32-inches from 28% to 18%. This change aims to boost consumer spending in the electronics sector. Expanding PLI schemes to include smart TVs, refrigerators, and washing machines is also important for market growth and improving manufacturing capabilities,” said Avneet Singh Marwah, chief executive officer, Super Plastronics. In addition to measures aimed at boosting domestic production, companies are also hoping for antidumping duties to ensure fair competition with Chinese companies. "While the government has made significant strides in supporting Indian manufacturers through initiatives like the 'Made in India' campaign and the PLI scheme, there is a pressing need to level the competitive playing field. Anticipations include measures such as antidumping duties to ensure fair competition against Chinese and other international companies in the industry,” said Imran Kagalwala, co-founder, UNIX India. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/economic-survey-2024-public-sector-investment-drives-infrastructure-growth-but-private-investment-needed/articleshow/111927594.cms">Economic Survey highlights public sector investment's role in driving infra growth; Underlines need for private sector to step up</a> <a href="https://www.businessinsider.in/budget/news/budget-2024-expectations-fame-scheme-aid-for-vehicle-scrapping-and-other-expectations-of-the-auto-industry/articleshow/111783199.cms">Budget 2024 Expectations: FAME scheme, aid for vehicle scrapping and other expectations of the auto industry</a> <a href="https://www.businessinsider.in/budget/news/budget-2024-key-sustainability-and-energy-initiatives-that-indian-government-plans-to-implement-this-year/articleshow/111917956.cms">Budget 2024: Key sustainability and energy initiatives that Indian government plans to implement this year</a>

Budget 2024 expectations – PLI scheme to GST reduction, budget expectations from the tech industry

Smartphone giant OnePlus is looking for display engineer, GST specialist, interns and more

New Delhi, Apr 3 () Smartphone maker Honor on Friday said it will absorb the GST hike on mobile phones and not raise prices of its handsets. The government had last month increased GST rate on mobile phones to 18 per cent from 12 per cent, with effect from April 1. "Offering support and taking measures to deliver a seamless experience, we at Honor will not hike the prices of our top selling Honor 9X and Honor 20 smartphones even after the recent revision of GST rate for mobile phones," Honor India said in a statement. The industry has opposed the Centre's move to hike GST on mobile phones. According to mobile phone makers' body ICEA, around 80 crore mobile buyers in the country will be affected by the hike in GST, which will put a burden of Rs 15,000 crore on consumers. PRS ABMABM

Honor India to absorb GST rate hike on smartphones

(Eds: Incorporates all newsalerts released with GST slug) New Delhi, Mar 14 () The GST Council on Saturday decided to increase GST rates on <keyword id="38260" type="TECHNOLOGY" weightage="20" keywordseo="mobile-phones">mobile phones</keyword> to 18 per cent from 12 per cent with effect from April 1, Finance Minister Nirmala Sitharaman said. The Council also decided to slash GST on maintenance repair overhaul (MRO) services for aircraft to 5 per cent rom 12 per cent while the tax rate on handmade and machine-made matchsticks has been rationalised to 12 per cent. 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. The minister also said that interest will be levied on net tax liability from July 1 for delayed GST payments. Sitharaman said the GST Council has asked Infosys to deploy more skilled manpower, increase capacity of hardware of GST Network to ensure that the system is glitch-free. The council has asked Infosys, which has designed the GSTN, to provide a better groomed GSTN system by July 2020, she added. JD KKS MR MR

Govt. to increase GST on mobile phones by 6% from April 1

New Delhi, Apr 1 () Smartphone company Realme on Wednesday announced first ever hike in prices of handsets following the government's decision to increase GST rate on mobile phones to 18 per cent and devaluation of the rupee.The hike in prices of Realme handsets will vary from product to product in line with competitors and will be applicable on both old and new devices. The government in March increased GST rate on mobile phones to 18 per cent from 12 per cent. The move was however opposed by the mobile handset industry. "This increase in GST rate will further impact the smartphone segment as the consumers come from different geographies, have disposable incomes and are price sensitive. Today we are announcing that Realme smartphones will have to boost the prices up for the first time since 2018," Realme India said in a statement.The company said the Covid-19 pandemic has highly impacted the smartphone industry leading to supply shortage and price hike of components. "Further, the India Rupee rate has been continuously fluctuating and facing depreciation currently. This has impacted the overall cost of the smartphone device, therefore many smartphone brands have already increased the price of smartphones in 2019 and 2020," Realme said.Industry body India Cellular and Electronics Association (ICEA)had said increasing goods and services tax rate on mobile phones at the time of economic slowdown coupled with coronavirus outbreak will derail the industry and lead to job losses.ICEA had estimated that the decision will put a burden of Rs 15,000 crore on the common man and adversely impact over 100 crore Indian consumers."The 18 per cent GST will also bring back the bad old days of early 2000s when the grey market in mobile phones was rampant at 90 per cent. It reverses years of painstaking efforts by governments and industry to increase mobile manufacturing and penetration by sensible policy interventions and tax rationalisation," ICEA Chairman Pankaj Mohindroo had said.He said this move will also prove to be disastrous for the already fragile retailer community wherein lakhs of small and mid-sized retailers survive by selling mobile phones. PRS PRS ANUANU

Realme increases smartphone prices due to GST hike, rupee dip

Come July, when GST gets roll out, you would need to shell some extra bucks to buy a phone that is priced Rs 25,000 plus. Not just smart phones, consumer durables that have a chassis number or any other identification for tracking the product would have the benefit of the special credit transfer scheme n restricted to manufacturers. This would make all imported products claim deemed credit of 60% or 40% of the central GST paid, depending on the tax rate levied on the products, according to Economic Times report. The sellers cannot claim credit of the total amount of countervailing duty and additional customs duty paid on such imported goods. "If the intention is to neutralise the impact of existing central taxes paid on transition stock of high-value items, then logically even imported goods should be covered,” Pratik Jain, leader, indirect taxes, PwC told the ET. "The disparity would mean that consumer electronics, durables and cell phones which are imported would suffer more tax than ones manufactured domestically. The government should surely review this.”

Imported phones above Rs 25,000 to cost you more after GST

New Delhi, Come January 1, and <keyword id="6354679" type="COMPANY" weightage="20" keywordseo="gst">GST</keyword> taxpayers would be able to pay their <keyword id="535383" type="PERSON" weightage="20" keywordseo="tax-dues">tax dues</keyword> on a self-assessment basis without having to go through the cumbersome process of filing tax returns on a monthly basis. <keyword id="9257566" type="COMPANY" weightage="20" keywordseo="the-central-board-of-indirect-taxes">The Central Board of Indirect Taxes</keyword> and Customs (CBIC) will introduce the <keyword id="10425522" type="UNKNOWN" weightage="20" keywordseo="new-quarterly-return">new Quarterly Return</keyword> and Monthly Payment Scheme (QRMP) for GST taxpayers from next year that will allow taxpayers to file only 4 GSTR-3B returns in a year instead of 12 returns at present. As per the scheme, while returns through form GSTR-3B will be filed only quarterly and not monthly as at present, taxpayers would be lower to pay taxes dues on a monthly basis based on a self-assessment method. The self assessment would allow taxpayers to pay their monthly dues based on 100% of net cash liability paid in the previous month or 35% of cash liability paid on the previous quarter or actual self-assessment of tax dues after deducting the input tax credit (ITC). Under the new scheme, GSTR-3B will be filed only at the end of three-month period. Under QRMP scheme, the taxpayer would have the preference to pay their due monthly taxes as per his own choice either by cash ledger or through pre-filled challan which would be 35% of the previous quarter's cash paid or may pay as per actual. Thereby, a small taxpayer would require professional help, as and when required, particularly in the last month of the quarter and can be free from tax-related stress by simply making payment through a system-generated, pre-filled challan. The scheme would impact almost 94 lakh taxpayers, about 92% of the total tax base of the GST, who have an annual aggregate turnover (AATO) up to ₹5 crore, said the Sources in the Department of Revenue (DoR). Sources in the know of the matter said that the QRMP scheme has optional feature of Invoice Filing Facility (IFF) to mitigate business related hardships for the small and medium taxpayers. Under the facility of IFF, the small taxpayers who opt to be quarterly return filers under QRMP scheme would be able to upload and file such invoices even in the first and second month of the quarter for which there is a demand from the recipients. Further, this would engage buyers who earlier used to avoid purchase from the small taxpayers in the want of uploading of invoices in the system on monthly basis. According to Sources, that the taxpayer would need not upload and file all the invoices for the month and could upload and file only those invoices which are required to be filed in IFF as per demand of the recipients. The remaining invoices of the first and second months can be uploaded in the quarterly GSTR-1 return. The IFF would be available up to a cut-off date and credit would flow to the recipient after the cut-off date on filing of the IFF. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-irctc-hdfc-bank-tcs-tvs-motor-dalmia-bharat-ultratech-acc-ambuja-and-others/articleshow/79672813.cms">Top stocks to watch — IRCTC, HDFC Bank, TCS, TVS Motor, Dalmia Bharat, UltraTech, ACC, Ambuja, and others</a> <a href="https://www.businessinsider.in/tech/mobile/news/best-smartphones-of-2020-in-india/slidelist/79675101.cms">Best smartphones of 2020 in India</a> <a href="https://www.businessinsider.in/india/news/reports-suggest-that-tata-adani-and-hinduja-group-are-interested-in-air-india-divestment-plan/articleshow/79675955.cms">Last date for Air India divestment plan nears — reports suggest that Tata, Adani and Hinduja Group are interested</a>

GST taxpayers to get flexibility to decide on monthly tax payment

<ul><li>India’s <keyword id="12134566" type="General" weightage="20" keywordseo="union-budget-2022" source="Orion">Union Budget 2022</keyword> is expected to focus more on the learning loss due to COVID-19, and the implementation of the new National Educational Policy.</li><li>Last year, the budget allocation for the education sector was ₹93,224 crore, constituted 2.67% of the central government’s estimated budget for 2021-22.</li><li>Here’s what we can expect from the Union <keyword id="12134563" type="General" weightage="20" keywordseo="budget-2022-23" source="Orion">Budget 2022-23</keyword>.</li></ul>India’s Union <keyword id="10547300" type="General" weightage="20" keywordseo="budget-2022" source="Orion">Budget 2022</keyword>, which will be presented by the Finance Minister Nirmala Sitharaman on February 1, is expected to focus more on the learning loss due to COVID-19, and implementation of the new National Educational Policy. Last year, the budget allocation for the education sector was ₹93,224 crore, which was ₹6,000 less than the previous year, constituted 2.67% of the central government’s estimated budget for 2021-22. <div type="image" title="Education sector budget over last five years" msid="89176503" hostid="261" caption="&amp;lt;p&amp;gt;Education sector budget over last five years&amp;lt;/p&amp;gt;"></div> According to the Economic Survey 2020-21, the expenditure on education by the union government as a proportion of the Gross Domestic Product (GDP) has been around 3% between 2014-15 to 2018-19. The National Education Policy (NEP), 1968 recommended the spending on education to be 6% of the GDP. NEP 2020 has reaffirmed this recommendation. However, the experts expect this percentage (2.67%) to go up to at least 8-9% this year. “At least 8-9% of GDP should be put aside for education. More allocation isn't only necessary at primary, secondary and higher education but, we need to also look at schemes for skilling our youth that are outside of the education system and make them eligible for employment opportunities currently there,” said Prateek Shukla, cofounder and chief executive officer (CEO) of Masai School. Here’s what we can expect from the Union Budget 2022-23 — 1. Increase in spending on teachers’ training The COVID-19 pandemic shifted the teaching mode from offline to online, which was difficult for some teachers to cope with the latest technology. Experts say that the government should draw their attention towards the teachers training programmes, as there is a massive need for the educators to be well versed with the latest technologies. Budget allocation to National Education Mission (NEM) in 2021-22, which consists of — Samagra Shiksha and teacher training and adult education, was ₹31,300 crore — a 2% decrease as compared to 2019-20. The Budget 2021-22 allocated to teachers training and adult education was ₹250 crore. “There is a gap in faculty training. We need to empower our experienced educators to understand new tools and techniques. It is important now to allocate budgets toward upskilling the existing instructors and training of fresher teachers, ensuring qualitative pedagogy. Further, there is a need to reimagine effective assessments focused on using digital methods and amplifying their benefits," said Ravi Panchanadan, managing director (MD) and CEO of Manipal Global Education Services (MaGE). Puneet K, President of the Narayana Group said, “There is an urgent need to raise the quality of our teachers, at the level of subject knowledge and in the use of technology and other tools for teaching. Furthermore, implementing the NEP requires a fundamental shift in the mindset of teachers towards engagement rather than instruction. This can only be achieved through a significant investment of time, effort, and funds on teacher upskilling. The government must consider this in its budgetary allocations.” 2. Access to smart devices like laptops, smartphones at subsidised prices Shifting of classes to online mode created a huge requirement for laptops and smartphones. A National Council of Educational Research and Training (NCERT) survey conducted in August 2020 revealed that at least 27% students in India did not have access to smart devices, which ultimately led to learning loss during the COVID-19 lockdown. According to a PRS India report, the Central government shared ₹818 crore across states and union territories to promote online learning. The Economic Survey 2020-21 observes that, as of October 2020, the percentage of students in government and private schools owning a smartphone increased from 36.5% in 2018 to 61.8% in 2020 in rural India. Experts believe that this year the government should roll out more initiatives, which can help students to get access to laptops and smartphones at subsidised rates because the future is online and the online classes will continue even after the pandemic comes to an end. “While we have ensured continuity, it is mainly limited to city limits due to erratic digital connectivity, which must be fixed on a war footing. Along with accessible internet, it is also vital to ensure that learners in need of digital assets are supported. Scholarships or subsidies to purchase laptops, smartphones, and other tech requirements, including more imaginative ways to utilise old digital assets, need to be explored, further,” said Panchanadan of MaGe. 3. Bring more focus on the edtech sector The edtech sector in India has been exponentially growing especially during the pandemic when the entire world moved towards digitalisation. The industry, which attracted a lot of private players like Byju’s, Vedantu, UpGrad and many more, is poised to become a $30 billion in size in the next ten years, according to a report by advisory firm RBSA Advisors <a href="https://economictimes.indiatimes.com/tech/technology/indian-edtech-industrys-market-size-to-reach-30-billion-in-10-years-report/articleshow/82295097.cms">cited</a> by the Economic Times. Education Minister Dharmendra Pradhan, on January 3, 2022, said that the Ministry of Education is in talks with the Ministry of Law and Ministry of Electronics and Information and Technology to work out a common policy to regulate the edtech sector in India as it has been gaining traction from the past two years. The edtech players in the market are expecting the Budget 2022-23 to have higher focus on the edtech sector and are also expecting to bring down the GST slab on educational services. “The 2022 budget is expected to have a higher focus on the edtech sector as a whole, with significant investments to enhance greater access to robust and improved digital infrastructure. The GST for educational services is expected to be brought down to 5% from the existing 18%, to increase accessibility and feasibility for students from lower and middle-class families. With greater internet penetration, the upcoming budget is expected to announce various initiatives to accelerate digital innovation in the edtech sector,” said Vaibhav Singh, co-founder of Leap Scholar, an online platform which provides guidance and coaching for study abroad. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/budget-2022-needs-to-maximise-on-lithium-ion-battery-manufacturing-for-rising-ev-demand/articleshow/89174199.cms">Budget 2022 needs to boost lithium-ion battery manufacturing for rising EV demand</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/railways-stocks-rally-on-expectation-of-strong-budget-allocation-to-the-sector/articleshow/89173796.cms">Railway stocks have been buzzing for the last one month on expectation of significant budget allocation</a>

Indian education sector’s budget wishlist – Subsidised access to laptops and smartphones, focus on edtech

The government wants to get everything under the tax ambit and now is planning to bring barters and exchanges under the <keyword id="6359833" type="ORGANIZATION" weightage="20" keywordseo="Goods-and-Services-Tax">Goods and Services Tax</keyword> (GST). 
 
So, if the bill gets passed in Rajya Sabha, exchanging smartphones and vehicles with new ones will no more be an advantage. 
 
If barters come under GST, consumers will have to pay tax on the full value. 
 
The government wants to put a clean chain without disruption in payments to ensure tax credit flows seamlessly. 
 
"It would have an impact on consumer electronics and automobile sectors, wherein old items or cars are exchanged with a new product at a reduced price. It would need to be seen how goods under barter or exchange would be valued," Pratik Jain, partner, KPMG India, told ET. 
 
But for this, government will have to mention clear guidelines. 
 
Reportedly, GST will be levied on supply of goods and services as against provision of service, sale or manufacture of goods presently. Supply will include barter, exchange and licences such as those for mining or spectrum.

GST will make sure everything is taxed, even exchange of smartphones, vehicles

GST effect – Xiaomi, Samsung, Apple hike phone prices in India

Beijing, <keyword id="1334" type="LOCATION" weightage="20" keywordseo="China">China</keyword>'s <keyword id="9828217" type="UNKNOWN" weightage="20" keywordseo="overall-smartphone-sales">overall smartphone sales</keyword> declined 17% (on-year) in 2020, its sharpest decline in the last three years, and Apple was the only brand to witness a positive growth in the market, a new report said on Friday. <keyword id="6357456" type="COMPANY" weightage="20" keywordseo="huawei">Huawei</keyword> (including Honor) took the top spot in the market, capturing 41% market share last year. Apple's strong growth was due to the debut of <keyword id="6354606" type="COMPANY" weightage="20" keywordseo="iPhone">iPhone</keyword> 12 series, which comes with 5G connectivity and models across a wider price range. In addition, thanks to heavy price cuts and promotions, the iPhone 11 series continued to do well even after the launch of iPhone 12 series. The iPhone 11 was the best-selling model on JD.com during the e-commerce festival <keyword id="6357824" type="UNKNOWN" weightage="20" keywordseo="sales">sales</keyword>. The impressive growth of both iPhone 12 and iPhone 11 series helped push Apple's market share in China to 16 oer cent in Q4 2020, according to <keyword id="6439913" type="COMPANY" weightage="20" keywordseo="counterpoint-research">Counterpoint Research</keyword>. "A weakened economy and longer smartphone replacement cycles all contributed to the lacklustre demand. However, China's 5G smartphone sales surged with Chinese OEMs aggressively rolling out more value-for-money offerings," said research analyst Mengmeng <keyword id="16963" type="PERSON" weightage="20" keywordseo="Zhang">Zhang</keyword>. "5G penetration rate became even more pronounced in Q4 with the launch of iPhone 12. 5G smartphones accounted for more than 60 per cent of smartphones sold in China, up from just 5 per cent in Q4 2019," Zhang added. China's 5G smartphone sales accounted for more than 60 per cent of total smartphone sales in Q4 2020. "Following component shortages after the US trade sanctions effective September 15, sales of Huawei and Honor dropped a staggering 26 per cent (YoY) in Q4 2020. Their combined market share also slipped to 32 per cent in the same quarter," said research analyst Flora Tang. Xiaomi registered a double-digit decline of 14% YoY in 2020, but still outperformed the market. Xiaomi's sales rebounded strongly starting the second half of 2020 on good performance of the Xiaomi 10, Redmi 9A, Redmi Note 9 Pro, Xiaomi 10 series and Redmi K30 series. OPPO and <keyword id="215177" type="DOMAIN" weightage="20" keywordseo="Vivo">vivo</keyword> sales declined in 2020 following the overall market trend. Nonetheless, OPPO had its strongest quarter in Q4, increasing 9 per cent compared to Q3 on strong momentum from the OPPO A32, A72 and Reno 5 series, the report noted. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/glee-s-t-january-2021-gst-collection-may-have-beat-the-december-record/articleshow/80512714.cms">Glee.S.T! January 2021 GST collection may have beat the December record</a> <a href="https://www.businessinsider.in/business/startups/news/kavin-mittal-hike-looks-to-hire-computer-science-it-graduates-from-iits-nsit-nits/articleshow/80560643.cms">Kavin Mittal’s Hike looks to hire computer science, IT graduates from IITs, NSIT, NITs</a> <a href="https://www.businessinsider.in/budget/news/airlines-want-budget-2021-to-lower-jet-fuel-price-and-parking-charges/articleshow/80561951.cms">Airlines want budget 2021 to lower jet fuel price and parking charges</a> <a href="https://www.businessinsider.in/stock-market/news/indias-first-ipo-listing-of-2021-irfc-lists-at-4-discount-over-issue-price/articleshow/80557304.cms?upcache=2">India’s first IPO listing of 2021 IRFC lists at 4% discount over issue price</a>

You Searched For "gst on smartphones" and got 13 results

Infosys says Karnataka govt withdrawing pre-show cause notice on GST notice

ANI

Gadkari asked states to pitch for reducing GST on flex engine vehicles

ANI

Budget 2024 expectations – PLI scheme to GST reduction, budget expectations from the tech industry

Sourabh Jain

Smartphone giant OnePlus is looking for display engineer, GST specialist, interns and more

Vaamanaa Sethi

Honor India to absorb GST rate hike on smartphones

PTI

Govt. to increase GST on mobile phones by 6% from April 1

BI India Bureau

Realme increases smartphone prices due to GST hike, rupee dip

PTI

Imported phones above Rs 25,000 to cost you more after GST

BI India Bureau

GST taxpayers to get flexibility to decide on monthly tax payment

IANS

Indian education sector’s budget wishlist – Subsidised access to laptops and smartphones, focus on edtech

Vaamanaa Sethi

GST will make sure everything is taxed, even exchange of smartphones, vehicles

BI India Bureau

GST effect – Xiaomi, Samsung, Apple hike phone prices in India

Rounak Jain

China's smartphone sales see biggest dip in three years of 17%

IANS

Popular Keywords

Buying Guides