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Mobile and laptop prices to go up after GST
Posted on: 17/Jun/2017 3:39:05 PM
Once the new Goods and Services Tax comes to effect, all mobile phones and laptops will go up in price from 1st July.
The commodities are clubbed under 7 different categories by the Goods and Services Tax Council that was chaired by Finance Minister Arun Jaitley. It is 0, 5, 12, 18 and 28 percent.
As per the council’s decision, laptops and desktops are to be kept at a model rate tax of 18 percent whereas the present levy is 14 to 15 percent. The other products like printers and monitors will have the tax at 28 percent.
In addition, the rates of mobile phones will get 4 to 5 percent higher following the GST rate fixation at 12 percent.
As per the new rates by the council, manufacturing these devices will cost more which at present is at low tax rates.
Nearly 80 percent of the total 59 million phones that were sold in India in January to March quarter were manufactured locally.
According to experts, by July 1, the government need to come up with incentives so that it ensures measures like Make in India to all the contract manufacturers to continue at work.
