Netflix GST: In our country India, every day there are minor rules related to GST and Income Tax. In such a situation, you need to know about these rules because these rules bring changes in your life every day.
This time the Government of India has changed the GST rules for foreign companies that have digital outlets in India. Because of this now all foreign companies providing online services in India will have to pay GST to the Indian Government. This rule states how much GST will these companies have to pay and which companies will have to pay it.
Now GST will end
According to the new GST rule of the Government of India, foreign companies will have to pay 18% GST to the government for providing online services in India. This rule will be implemented across India from October 1, due to which in the coming time, it may happen that these companies will increase the price of their services if they provide online services in India.
Now this is the rule on which companies providing online services will be assessed loss.
Amazon Prime and Netflix team up with Friends
Foreign companies offering their online services in India include Netflix, Amazon Prime, Spotify etc. All these companies provide various types of online services in India. Now after this change in GST rule, all the companies will have to pay 18% GST from the Government of India.
Now in the coming time, it may happen that this Coolia may also increase the price of its services in India, due to which you can pay more money for starting the service of all the companies.
Netflix Amazon Prime has its biggest base in India
Also, let us tell you that you will find the biggest audience of these online services companies in India. According to a report, more than 40 million Indians use Amazon Prime service, whereas about 8 to 10 million Indians use Netflix service.
Now it will be interesting to see whether these online services consumer sellers reduce their share after this GST rule.