2024-07-25 22:54:17
The Finance Minister has reduced the duty charge on imported smartphones by 5 percent. In such a situation, the price of premium smartphones can be reduced by up to Rs 10,000. Basic custom duty has been reduced from 20 percent to 15 percent. However, how much will this reduction be on which model? But before that, let us know on which smartphone the basic custom duty, which is known as import duty, is imposed. So let us tell you that the smartphones which are not made in India are imported from abroad, on which the Government of India imposes 20 percent import duty, which has been reduced to 15 percent. In such a situation, the price of premium phones, which are imported from abroad, is likely to be reduced by up to Rs 10,000.
Which smartphones are imported
Many smartphone models of Google are imported in India along with iPhone’s Pro models like iPhone 15 Pro and iPhone 15 Pro max, while parts of some smartphones are imported and assembled in India. Smartphones which are completely manufactured outside and brought to India. Import duty is imposed on those smartphones. Although most of the smartphones are assembled in India, which are low in price. But the price of smartphones imported from outside is high due to import duty.
How will the price decrease by 10 thousand rupees
This is a simple math, which is understood in easy language. Suppose you have bought the top variant of iPhone 15 Pro Max, which costs Rs 2 lakh, on which you had to pay 20 percent import duty earlier, which becomes Rs 40 thousand. Now the government has reduced the import duty by 5 percent. In such a situation, you will have to pay import duty of Rs 30 thousand instead of Rs 40 thousand on this model. In such a situation, there will be a direct reduction of Rs 10 thousand on buying a smartphone.
How much will the price of which model decrease
If you buy an imported smartphone worth Rs 2 lakh, you may have to pay Rs 10,000 less. Also, if you buy a smartphone worth Rs 1.50 lakh, you will save Rs 7500, while if you buy a smartphone worth Rs 1 lakh, you will save Rs 5000. Similarly, if you buy a smartphone worth Rs 50,000, you will save Rs 2500. If you buy a phone worth Rs 25,000, you will save Rs 1250.
Apple will benefit the most
Apple is expected to benefit the most from the government’s decision. According to experts, Apple can benefit from about 35 to 50 million dollars. Let us tell you that there is a lot of demand for the iPhone 15 Pro model in India, which is imported from China and other countries. In such a situation, Apple is expected to benefit heavily due to the reduction in import duty. Apple can get benefits on some models of Pixel.
Budget 2024: Big relief for smartphone users! Mobile phones and chargers are going to get cheaper
The final decision rests with tech companies.
However, you should know that you do not have to pay tax on imported phones directly. In such a situation, the benefit of tax exemption will be directly given to tech companies. It depends on the tech companies whether they transfer their benefits to the end users or not. If the company transfers the benefit of tax exemption to the distributor or anyone else, then the price of your smartphone will not decrease.
Will the price of 5G phones decrease?
If the Cybermedia Research Report is to be believed, the price of 5G smartphones in India may see a reduction in the coming days. Actually, the government has reduced the import duty on PCBA i.e. Printed Circuit Board Assembly. This will make it cheaper to manufacture 5G phones in India. In such a situation, the price of 5G phones in India can come down to between Rs 7000 to Rs 24 thousand.