The levy of Goods and Service Tax is going to be a game changer in doing business across the country. Be it a dealer or a manufacturer, it is prime in importance for both parties to know the GST rate on washing machines for compliance purposes and smooth operations.
The current rate of GST on washing machines is 18%. Not just on fully automatic, semi-automatic, front-loading, top-loading machines, but it is on all. But the rate of GST might differ from state to union territory depending on the place one buys it.
For instance, say you are a dealer of washing machines in Maharashtra, and the cost of a fully automatic washing machine is ₹25,000. Now, the rate of GST is 18%, so the amount included for GST will be ₹4,500, which is 18% of ₹25,000, hence being ₹29,500 to be paid by the customer.
The brand, model, features, and retailer exert their influence on washing machine prices. Knowing these factors at the time of purchase can help consumers to seek better value for money.
Any firm has to obtain registration in case their turnovers run above ₹40 lakhs within a financial year. This is necessary to avoid penalties and ensure smooth operations under the GST regime.
For any of your GST registration requirements, look to E-StartupIndia to help you go through the process and be compliance-ready. With our expertise, focus on growing your business while we do the paperwork. Contact us today to learn more.
Moreover, If you want any other guidance relating to GST Registration online, please feel free to talk to our business advisors at 8881-069-069.
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