Buyers of smartphones Beware: GST may lead to a 25% price increase

GST-may-lead-to-a-25-price-increase
GST-may-lead-to-a-25-price-increase


GST may lead to a 25% price  increase 


Buyers of smartphones distrust: GST may lead to a 25% price increase CyberMedia Research estimates that with the goods and services tax (GST), the price of smartphones would increase by about 25 %. Moneycontrol Bureau In order to encourage local manufacturing and stimulate the Make in India initiative, the government increased the additional special PCB fee by two percent from 1 April. This would lead to higher prices of smartphone handsets by about two percent. However, according to a Business Standard report, CyberMedia Research estimates that with the goods and services tax (GST), the price of smartphones would increase by about 25%.

 
 PCBs account for half the cost of a mobile that is about 54 percent. PCBs are mainly imported from China and Taiwan from now on. Last year, about 40,000 rupees of PCBs were imported. "Over time, we can expect the manufacture of smart phones in the country by the major players in India," said Vevek Zhang, Marketing Director of Vivo India in an interview with Business Standard. Meanwhile, industry experts say that brining down cost of making smartphones is not going to be easy because most features like camera, PCBs and billboard etc. Are imported


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