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Finance Ministry:Reduced GST tax rates,annual turnover of up to Rs 40 lakh are now GST exempt.

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4 years ago

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The Finance Ministry on Monday posted a series of tweets and announced that businesses with annual turnover up to Rs 40 lakhs are now exempted from paying GST.

Additionally, those with a turnover up to Rs 1.5 crore can opt for the Composition Scheme and pay only 1 per cent tax. GST has reduced the rate at which people have to pay tax. The revenue neutral rate as per the RNR (Revenue Neutral Rate) Committee was 15.3 per cent.Compared to this, the weighted GST rate at present, according to the RBI, is only 11.6 per cent, the ministry said.Initially, this limit was Rs 20 lakh.

“As we remember Arun Jaitley today, let us acknowledge the key role he played in the implementation of GST, which will go down in history as one of the most fundamental landmark reforms in Indian taxation,” the Finance Ministry tweeted.

The Finance Ministry tweeted that GST has reduced the rate at which people have to pay tax and helped increase compliance and doubled taxpayer base to 1.24 crore.

As of now, the 28 per cent rate is almost solely restricted to sin and luxury items.Out of a total of about 230 items in the 28 per cent slab, about 200 items have been shifted to lower slabs, the ministry said.While the housing sector has been placed in the 5 per cent slab, GST on affordable housing has been reduced to 1 per cent.

All processes in GST have been fully automated. Till now 50 crore returns have been filed online and 131 crore e-way bill generated, the Ministry added.

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Apple is giving a huge discount on its gadgets: Details inside

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2 years ago

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May 5, 2022

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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