Printers have come a long way. Mankind has been in love with the handwritten material since time immemorial. When the bark of trees were used, the information transferred orally was preserved in the written format . But, with technology, we got the taste of printers which ranged from single function printers to multi-function printers. Multi-function printers are ideal for those who are searching for multiple facilities in one device. Thinking to buy a printer? Well, you should know that GST has been imposed on various things and everybody in town wants to know the GST After Effect. Well, HP has confirmed that their multi-function printers will get a price hike.
One of the most loved brands for multi-function printers has been HP. This tech giant has been ruling everyone’s house with its impressive range of gadgets and appliances in affordable prices. But, the implementation of Goods and Services tax has made the company to change many things.
HP has reportedly hiked the prices of its multifunction printer i.e MFPs and cartridges by up to 15 percent due to the increase in tax levy on these items post GST. HP has declared that the maximum retail price of MFP’s has been increased by 8 to 10 percent whereas ink cartridges will be costlier by 12-15 percent.
There has been no effective change in the tax rates for the products like desktops, single function printers, notebooks as a result of which their prices remain unchanged.
The Government had asked the traders, businesses and companies to issue advertisements in order to inform the public about the changes in MRP after GST has been implemented. The company has taken the lead by publishing the new price list in the leading dailies.
MFPs were taxed at 18 percent but after the rollout of GST from July 1, they are now being taxed at 28 percent. Similarly, ink cartridges also find themselves in the 28 percent GST tax group. Earlier they were taxed at 15-18 percent.
But, being a producer of notable products HP finds its loyal customers everywhere. GST effect can be noted with these HP products.