We all heard about GST (Goods and Services Tax) is about to come on July 1, 2017. It could have a huge impact on prices of gadgets, Smartphone, Software and IT services as well. GST covers all electronic goods and services in India with upcoming GST. Prices could be rise after July 1, also had a discussion with GST experts to find out how and how much it will affect.
Gadget HUB: – What is GST and upcoming changes in that.
Expert: – GST (Goods and Services Tax) India is known for its complex tax system. For new businesses and startups, it becomes impossible to navigate through various direct and indirect taxes. Constant changes to taxes like Service Tax are making things even more and more complex. But now, the things are going to be change with new Goods and service tax – commonly known as GST. GST will impact on gadget, Smartphone and all other electronic goods which will comes under GST for that you might be pay more price for it. The Gadget marketing will affect and they will lose their customers in future.
Gadget HUB: – How it will impact us or it’s only for online business.
Expert: –This GST will also impact on people, who are interested buying gadgets, software and services, it’s not only for online business if you have a business and shelling products and services offline in that case GST will allow on you and you have to pay. Even you are shelling your old phone online (OLX) of offline. Or you use whatsapp to skip yourself so it will not work after GST.
Gadget HUB: – Finally, we discuss about the impact on E- Commerce website such as Amazon and Flipkart, Also talk about how new taxation will impact on small retailers. You will able to save money online or offline and does discount works
Expert: –GST is a set of rules that become biggest tax reform in India has ever seen, GST will going to impact all business, whether big or small. New GST having