Today the GST Council of India have increased the taxation rates on mobile phones from 12% to 18% which led to rise in price of Apple, Oppo and Xiaomi smartphones prices. The revised GST rates have caused to increase the price of these brands which ranges between 500INR to 2000INR.
Xiaomi India wing Managing director and vice president informed its customers about the increased price via tweet. Jain said “GST rates on mobile phones have increased by 50% from 12% to 18% effective 1st April 2020. The Indian rupee have also wakened in this outbreak which also forced all these companies to increase their prices.
The increased price of Xiaomi devices was spotted on e-commerce website Flipkart. The price of Redmi K20 and K20 Pro have been increased. Jain also said that the company is already working at a narrow profit margin of 5%.
Poco X2 price have also shoot up. The 6GB+128GB variant price have increased up to 1000INR. The device was earlier priced at 16,999INR which after revised GST rates is priced at 17,999INR. Also Poco X2 8GB+256GB variant will now cost at 20,999INR in India.
Revised GST taxation rates have also led to increase in the price of Apple devices by 5%. Price of Apple iPhone 7, iPhone 11 and iPhone 11 Pro have increased. Also, the most popular Apple device of last year is now priced at 68,300INR which earlier used to be 64,900INR.