The GST Council in its 39th meeting has increased GST rates for several products including mobile phones. The council has increased GST rate on Mobile Phones and specified parts from 12% to 18%, which will increase the rate of mobile phones in the country. This move is to correct the inverted duty structure, said the GST Council. Regarding this move, Xiaomi India Head, Manu Kumar Jain said that the GST increase for phones will crumble the industry. He added that the smartphone industry is already struggling with profitability due to depreciating INR vs US$ & supply chain disruption due to Covid-19 and said that that everyone will be forced to increase prices, which will further weaken mobile industry's Make In India program. He has requested the Prime Minister and the Finance minster to at least exempt mobiles under $200 (=₹15,000) from this. My humble request to Hon. PM @NarendraModi ji and FM @nsitharaman ji - please reconsider this #GST hike.🙏 The industry is already struggling with depreciating INR & supply chain disruption due to Covid-19. At least all devices under $200 (=₹15,000) must be exempted from this. https://t.co/hOMpSpTyKk — Manu Kumar Jain (@manukumarjain) March 14, 2020 Pankaj Mohindroo, Chairman, Indian Cellular and Electronics Association (ICEA), said: The ...
Monday, 16 March 2020
GST Rate Hike: Mobile phones to cost more from April 2020
The GST Council in its 39th meeting has increased GST rates for several products including mobile phones. The council has increased GST rate on Mobile Phones and specified parts from 12% to 18%, which will increase the rate of mobile phones in the country. This move is to correct the inverted duty structure, said the GST Council. Regarding this move, Xiaomi India Head, Manu Kumar Jain said that the GST increase for phones will crumble the industry. He added that the smartphone industry is already struggling with profitability due to depreciating INR vs US$ & supply chain disruption due to Covid-19 and said that that everyone will be forced to increase prices, which will further weaken mobile industry's Make In India program. He has requested the Prime Minister and the Finance minster to at least exempt mobiles under $200 (=₹15,000) from this. My humble request to Hon. PM @NarendraModi ji and FM @nsitharaman ji - please reconsider this #GST hike.🙏 The industry is already struggling with depreciating INR & supply chain disruption due to Covid-19. At least all devices under $200 (=₹15,000) must be exempted from this. https://t.co/hOMpSpTyKk — Manu Kumar Jain (@manukumarjain) March 14, 2020 Pankaj Mohindroo, Chairman, Indian Cellular and Electronics Association (ICEA), said: The ...
