NEW DELHI (Reuters) – India’s Goods and Services Tax Council has increased the tax on mobile phones and parts, Finance Minister Nirmala Sitharaman said on Saturday, a move that could lead to higher prices.
Sitharaman, who heads the council, composed of representatives from all Indian states, said taxes on mobile phones and parts would rise to 18% from 12%.
The move could make popular mobile phones from firms including Apple Inc (O:) and Samsung (KS:) more expensive. The government raised import duty on such devices earlier this year.
Sitharaman also said the council had decided to reduce GST rate on Maintenance, Repair and Overhaul (MRO) services for aircraft from 18% to 5%.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.