The GST Council announced to increase GST rates on mobile phones from 12 percent to 18 percent with effect from April 1. The Council also slashed GST on maintenance repair overhaul (MRO) services for aircraft from 12 percent to 5 percent and on handmade and machine-made matchsticks the tax rate is rationalized to 12 percent.
The GST Council which is chaired by the Union Finance Minister decided in its meeting to waive the late fee for delayed filing of annual returns for FY2018 and FY2019 by organizations whose turnover is less than Rs. 2 crores. She announced that interest will be levied on net tax liability from July 1 for delayed GST payments.
The finance minister said the GST Council has asked Infosys to deploy more skilled manpower, increase the capacity of hardware of GST Network to ensure that the system is glitch-free. The council has asked Infosys to provide a groomed GSTN system by July 2020.