Phone, Credit card bill to attract GST
GST impacts the consumer’s phone and credit card bills and the rates are increased.
“If the invoice was generated after June 30, it will attract GST. For services, the tax is levied based on the date of supply of service or issue of invoice,” a senior Finance Ministry official said. The service providers are mandated to provide an invoice within 30 days of the supply of service. As a relaxation for insurance and banking companies, the law allows them to issue an invoice within 45 days.
“Our appeal is that issuing revised stickers with the new price is not difficult. It should be done at the earliest,” said Revenue Secretary, Hasmukh Adhia.
“Services provided by an educational institution to students, faculty and staff are exempt,” it said, adding that there is no change in taxability of educational and other services on account of GST.