Mobile Phone Makers Seek GST Reduction

India’s handset industry has demanded that goods and services tax (GST) rate on mobile phones should be reduced from the current 18% to 12% and the rate on parts and components be reduced to 5% arguing that the high rate has led to a rise in prices and capping demand for mobile phones.

India Cellular & Electronics Association and Consulting firm Ernst & Young (EY), in a joint report released on Tuesday, said the 12% GST rate on mobile handsets increased tax by almost 50% in this sector. S-ET

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