India Announces GST Changes, Trade Facilitation Measures
India issued several changes to tax rates on the supply of goods and services, impacting cell phones, footwear, textiles, fertilizers, matches, certain services and more, India’s Central Board of Indirect Taxes and Customs said March 15. The changes, made during…
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a March 14 Goods and Services Tax Council meeting and set to take effect April 1, include raises to the GST rate on mobile phones and “specified parts” from 12% to 18%. India also increased the GST rate on matches to 12%, instead of a rate of 5% on handmade matches and 18% on other matches. The changes also include “measures for trade facilitation,” include interest on delays in payment of GST, and applications for “revocation of cancellation” of registrations.