Viral Message:
Ambani Company Reliance gave the "Patriotic" order the Enemy Country China to produce 30 million "Jio Mobile Set".

eMessage on – Social media and internet

Fact Check by Ayupp– Almost true

Message Circulating Since: February, 2012

Viral Message Example 

Ambani Company Reliance gave the "Patriotic" order the Enemy Country China to produce 30 million "Jio Mobile Set".

Reliance will import the JIO set for 10 million and Indians will be able to use the phone with a security deposit of Rs.1500.

But they will not sell the mobiles. If Not Sold, then 28% GST Will Not Be Paid to Government.

That means, 28 percent of the 100 million set of a set of 1500 GST means Rs.42 Billion Crores of taxes and there will be Fraudulent Tax Evasion of 12600 Crore.

Again, Reliance will return 1500 rupees after three years and will not get the phone back;

But Why???

Because these 30 million phones will not show up in the Purchase Account and will not show in the trading stock. Rather, the expenditure of 45 lakh crores of rupees will be shown in their account.

The more money you can show as expenditure, more tax will be exempted.

That means the income tax will be reduced by Rs.15 million crores, almost.

That envisages Rs.15 million crores of revenue loss. But for that Reliance need not have to spend any money, but account for the entire expenditure in the name of security deposit.

Three victims at one stroke:-

1) If the government is not given 28% GST, the product will be cheap.

2) They need not pay Rs.15 million crores tax by spending 45 million crores. (Income tax will be given by ordinary people, like you)

3) One-sided capture on the market for 3 years.            AND We the fools are shouting to boycott the people of China by boycotting of Diwali lights and Rakhis.

Why is the government turning a blind eye to this day light robbery.??? 

Viral Message Verification – The Reliance JioPhone comes at a price of Rs 0. That means that the company will refund you the amount. The company is just taking the refundable security deposit Rs 1500 to avoid potential misuse of the device by the anyone. The amount will be refunded after a minimum period of three years.

Initially Reliance JIO is in talks with several Indian companies  and as well from the chines companies for the manufacture of the handset. An official at Intex Technologies has confirmed to Gadgets 360 that it is in talks with the telecom upstart to manufacture the upcoming Jio feature phone

There is no information officially regarding the number of handsets being imported.

The Viral message is almost true, yet many details are not out yet. However as per our initial investigation it seems to be almost true. If you have any information or want to correct us do sent or give your feedback in the below comments.

Currently as we know how tax is implied to products under VAT and excise tax regime

• If the goods/products are sold/removed within 6 months prior to D-day
• If the goods/products are returned within 6 months from D-day
• If the in charge  officer can satisfactorily identify the goods

Let us know about the Tax implications of different scenarios

Possible scenarios for goods that is taxable both before and after D-day:

1. Original buyer and original seller,  are registered taxpayers:

• Manufactured Products returned by a registered taxpayer are treated as Deemed Supply, in the hands of the original buyer (who is now returning the Products).
• The original buyer puts GST on the Deemed Supply, and any tax previously borne by the original buyer can be claimed as an input credit against the GST charged. Now the buyer is liable for the net amount, thus reducing losses.
• The seller can now claim the GST as an input credit, thus eliminating losses.

1. Original buyer is an unregistered taxpayer and the original seller is a registered taxpayer:

The original seller is eligible for a refund of taxes after meeting certain basic conditions for duty paid on products being returned by any unregistered taxpayer.

1. Original buyer is a registered taxpayer and original seller is an unregistered taxpayer:

• Products become Deemed Supply for the original buyer, who pays tax on the same.
• Products buyer can claim an input credit against any GST paid on the purchase of goods.

Possible scenarios for Products which were exempt pre-D-day but are taxable post D-day:

1. Original buyer is a registered taxpayer:

Subject to fulfillment of conditions,  there will be no GST levied on the return of goods.

1. Original buyer is an unregistered taxpayer:

No tax is payable on Products sold as exempt under the current tax regime and returned by an unregistered person in GST regime.

With Inputs from: avalara.com

Please let us know if you have any other feedback