<\/span><\/h2>\n1. Is Input Tax Credit (ITC) Allowed on TV Purchases?<\/b><\/h3>\n
Yes, Input Tax Credit (ITC) can be claimed on TV purchases and is not restricted by <\/span>Section 17(5) of the Central Goods and Service Tax Act 2017.<\/span><\/p>\n2. What is the GST Rate on Smart TVs?<\/b><\/h3>\n
The GST rate on Smart TVs depends on the screen size. If the screen size is over 32 inches, the GST on television is 40%. If not, the GST for television is 18%.<\/span><\/p>\n3. What is the HSN code for LED TV?<\/b><\/h3>\n
The HSN code for LED TVs falls under Chapter 85, specifically under Code 8528, which includes all televisions and similar electronic display devices.<\/span><\/p>\n4. How do discounts on TV sales affect GST calculations?<\/b><\/h3>\n
Discounts offered on TV sales reduce the taxable value, meaning GST is calculated on the reduced price. For the discount to affect the GST calculation, it must be mentioned on the invoice at the time of sale.<\/span><\/p>\n5. Are second-hand TVs subject to GST?<\/b><\/h3>\n
Unlike new TVs, which have a fixed GST rate, second-hand TVs are subject to the Margin Scheme under GST. This means that GST is calculated based on the profit made by the seller, not the total sale price.<\/p>\n
6. How is GST calculated on imported TVs?<\/b><\/h3>\n
GST on imported televisions is calculated based on the total value of the TV, which includes customs duty and other applicable charges. The applicable GST rate – 18% for TVs up to 32 inches and 40% for TVs above 32 inches-is then added to this value<\/span><\/p>\n7. Is GST applicable on TV accessories and parts?<\/b><\/h3>\n
Yes, GST is applicable on TV accessories and parts, generally at a rate of 18%.\u00a0<\/span><\/p>\n8. What is the GST rate for an LG 65-inch TV?<\/b><\/h3>\n
The GST rate for an LG 65-inch TV is 40%, as it is categorized under the luxury segment of televisions<\/span><\/p>\n9. Can I claim GST on LED TV?<\/b><\/h3>\n
Yes, you can claim GST on an LED TV if it is purchased for business purposes. The claim can be made under the Input Tax Credit (ITC) provisions.<\/span><\/p>\n10. What is the HSN code for LED TV 65?<\/b><\/h3>\n
The HSN code for a 65-inch LED TV is 8528, which applies to most large LED TVs and similar electronic display devices.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"GST on TV (Television) led to a noticeable shift in the pricing of televisions. Before GST, televisions were taxed under a complex system involving VAT, excise duty, and octroi, leading to higher prices. With GST, a unified tax structure was introduced, with rates of 18% and 28% based on screen size. This change generally reduced<\/p>\n","protected":false},"author":151156618,"featured_media":13628,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3913],"tags":[],"class_list":{"0":"post-12550","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gst-rates-goods-and-service-tax-rates-slabs"},"_links":{"self":[{"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/posts\/12550","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/users\/151156618"}],"replies":[{"embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/comments?post=12550"}],"version-history":[{"count":13,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/posts\/12550\/revisions"}],"predecessor-version":[{"id":18433,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/posts\/12550\/revisions\/18433"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/media\/13628"}],"wp:attachment":[{"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/media?parent=12550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/categories?post=12550"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/tags?post=12550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}