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You must have come across situations many times when you bought a new product and it got damaged within no time. Usually companies give some time warranty on new products. Warranty means that if there is any defect in the product during its validity, then the company will repair it. A recent decision of the government regarding such matters is going to help the customers a lot. Repaired it and returned it to the customer, but the company collected service tax i.e. GST from the customer. Now companies will not be able to do this. The government has made it very clear in this matter that companies cannot take any kind of money from the customers instead of replacing the spare parts to fix the product under warranty.
GST Council has taken Decision
A decision in this regard was taken in the recent meeting of the GST Council. GST Council is the paramount body to take decisions from slab to rate under the new indirect tax regime. The GST Council had clarified in the recent meeting that if companies are replacing parts of a product free of cost under warranty, then they cannot charge GST in such cases. Now the decision of the council has been notified by the Central Board of Indirect Taxes and Customs ie CBIC.
CBIC said this
CBIC has said in the latest order that the products with The full cost of replacement parts has already been recovered from the customer at the time of sale of the original product. Under warranty, the companies themselves have to replace the spare parts if required to repair the concerned product. In such a situation, companies cannot take money from customers in the name of GST.
Consumers across the country will be helped
CBIC has said that if the company fails to replace the spare parts charges any additional replacement charge or service charge, then GST may be applicable. This order of CBIC is expected to be of great help to the customers across the country. At the same time, this will also curb the mistakes made by the companies and their service centers.
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