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No more exchange offers for mobile phones when buying new ones
Posted on: 27/Jun/2017 10:13:16 AM
Information is gathered that the present facility of the offer to exchange the old mobile in exchange for new ones will be withdrawn from 1st July.
The reason for this is attributed to the aspect that the scope of the exchange offer will be rendered unfavourable after the implementation of GST from 1st July.
Presently, while buying a new mobile phone worth Rs. 10000 in exchange for the old mobile phone worth Rs. 2000, VAT (Value Added Tax) is charged only for the paid amount of Rs. 8000.
However, under GST, the full price of Rs. 10000 will be taken while calculating GST.
So, this will not be beneficial to the seller. This information was exchanged from an expert on indirect taxation from EY-INDIA.
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