Source: PTI

Hello GST! What’s Changed On Day 1

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Short-Term Pain For Retailers

While acknowledging the long-term positive impact of GST, Govind Shrikhande, managing director at Shoppers Stop expects to see some short-term pain until regulations and processes settle down.

As a retailer, we mainly sell national and international brands, hence we are awaiting announcements from the respective brands on the retail price direction and overall impact,” Shrikhande said in an email statement.

GST A Game Changer, Says Naveen Jindal

Naveen Jindal, chairman of JSPL expects the 'one nation, one tax’ regime to be a game changer for the economy.

Maruti Suzuki Passes Entire GST Benefit To Customers

The country’s largest car maker said it has passed on the entire GST benefit to customers, as the ex-showroom prices of some of its models drop as much as 3 percent.

However, it said the price of its Smart Hybrid Ciaz and Ertiga Diesel has increased as it gets taxed at a higher rate, according to the auto maker’s press release.

The new prices are effective from July 1.

Eating Out Becomes More Expensive

Heads-up! Your morning breakfast just got expensive. Having a masala dosa with the obligatory sambar will cost at least 10 percent more than what it would in the pre-GST era at Bengaluru’s popular South-Indian eatery Adyar Ananda Bhavan Sweets.

Hello GST! What’s Changed On Day 1

Mobile Phones To Get More Expensive

The government imposed a 10 percent basic customs duty on mobile phones including some accessories in a bid to encourage phone makers to produce locally.

10% Customs Duty On:

  • Cellular mobile phones
  • Charger
  • Battery
  • Wire Headset,
  • Microphone and Receiver
  • Key Pad
  • USB Cable

Still Exempt

  • Printed circuit board assembly (PCBA)
  • Camera Module
  • Connectors Display Assembly
  • Touch Panel
  • Cover Glass Assembly
  • Vibrator Motor and Ringer