GST Council May Review 18% Tax on Mobile Phones
· Business · LiveMint
The GST Council is expected to discuss a potential reduction of the 18% tax rate on mobile phones during its meeting next month. The move aims to stimulate slowing handset demand, which saw an 11% year-on-year decline in the April-June quarter. Officials will also investigate whether companies have passed on previous tax rationalization benefits to consumers, following reports of price hikes. This review coincides with the launch of the government's ₹62,500-crore Mobile Phone Manufacturing Scheme.
Why it matters
A tax cut could lower smartphone prices for Indian consumers and provide a boost to the domestic electronics manufacturing sector.
Read the original report — LiveMint
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