GST Reduction 28% to 18% for AVR from 16/11/2017

reachkalyan.kr

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Even on speakers I believe GST is down from 28 to 18%

Speakers prices never went up after GST as it was 18% after GST. Actually for mumbai owners the speaker prices went down abit cause of no octrio. It was only 28% for electronic devices that had IC in them including subwoofers.
This was told to me by Cinebels, dunno howmuch of it is true :-/

Cheers.
 
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Good news.
But I would take this with a pinch of salt as Onkyo-India's pricing is a joke.

Yes right i am looking to buy a 7.1 , i sorted out marantz 5012, denon x3400h and onkyo rz820.

Onkyo was top on my list but when a dealer quoted 1.4 lakh compare to similar specs marantz and denon which are around 90k. It horribly priced. Where as in global market they are similarly priced.
 
Hi

Speakers were always at 18% GST......dunno if this has come down to 12 ? ;)

Anything with electronic components which work with power supply (Amps / AVR / Subwoofers) was at 28% GST......if this has come down to 18%.....its great news indeed...

I will check with the dealers i am in touch with and provide a further update.....
 
Thats great new!! 28% was just too much. Prices are more than double compared to international markets
 
Hi

Checked with a few known dealers.....GST still prevails at 28% for AVRs and anything that has amp in it....(subwoofers).

Normal speakers which require amplification is still at 18%...

Possibly there would be debates / talks with the Finance Ministry to get GST rates down.....we may face the mcdonalds situation....where price still remains same at 18% or 5% GST...
 
Hi,

Denon AVR was 50,000/- when I added in my amazon cart. Now it is 45200/-. I don't know whether it is due to GST reduction effect or normal price reduction.
 
If the GST has not been brought down in the latest revision, then it is surely on the cards in the next round of meetings :

https://timesofindia.indiatimes.com...t-gst-on-white-goods/articleshow/61718085.cms

As and when it becomes 18%, the cost must come down from current levels as then the customs duty would now be a flat 10% for the businesses dealing in audio products....

the igst will go down to 10% not the custom import duty. Should still make a difference in prices soon.

Cheers.
 
Please keep the discussion relevant and based on facts. Any non-factual posts will be deleted without explanation.
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the igst will go down to 10% not the custom import duty. Should still make a difference in prices soon.

Cheers.

At the time of import, the govt. charges 10% customs duty and IGST depending on the GST tax bracket under which the goods fall. That IGST is claimed by the importer when the product is sold to the consumer as the consumer also pays GST. I am assuming all importers sell the goods at a price higher than the cost of import and therefore the entire IGST is not a cost for the importer eventually.

Please correct me if I am wrong as this is my understanding of how IGST and customs duty works.
 
At the time of import, the govt. charges 10% customs duty and IGST depending on the GST tax bracket under which the goods fall. That IGST is claimed by the importer when the product is sold to the consumer as the consumer also pays GST. I am assuming all importers sell the goods at a price higher than the cost of import and therefore the entire IGST is not a cost for the importer eventually.

Please correct me if I am wrong as this is my understanding of how IGST and customs duty works.

Not sure how it works in Audio Panditji, but in pharma industry (where I work), if raw material is imported and value addition activity is performed to the material, then net import duty is approx 10% after input tax credit when filing GST the following month. However we have to pay 26% duty (of invoice - which is discretion of customs regardless of what I agreed with supplier) upfront when material arrives at the port.
Cheers,
Sid
 
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As I understand, if you import a speaker and value of speaker with freight is Rs 100, Rs 10 is the customs and on 110, a 18% IGST will be charged.
 
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