Custom duty hike: Phones may get costlier by 3-4% after Feb 2
By IANS| Posted by Minhaj Adnan | Updated: 1st February 2021 3:33 pm IST
New Delhi: In another bid to boost domestic manufacturing, the government on Monday announced an increase in custom duty for up to 10 per cent on mobile chargers and some sub-parts of phones, a move that can make handsets costlier by 3-4 per cent from February 2.
Finance Minister Nirmala Sitharaman, during her Union Budget 2021-22 speech, said that withdrawing exemptions on parts of chargers and mobile phones will boost local manufacturing of smartphones.
“Domestic electronic manufacturing has grown rapidly. We are now exporting items like mobiles and chargers,” Sitharaman said.
In another bid to boost domestic manufacturing, the government on Monday announced an increase in custom duty for up to 10 per cent on mobile chargers and some sub-parts of phones, a move that can make handsets costlier by 3-4 per cent from .
Mobile industry disappointed with Budget proposals: ICEA
By IANS |
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Mon, Feb 1 2021 20:03 IST |
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Noida: Samsung India Electronics s manufacturing facility in Block B, Sector 81, Noida that has now become the world s largest mobile factory; on July 7, 2018. Prime Minister Narendra Modi and South Korean President Moon Jae-in will visit the facilit. Image Source: IANS News
New Delhi, Feb 1 : With announcement of an increase in custom duty by up to 10 per cent on inputs and parts of mobile chargers and moderate hike in some sub-parts of phones in the Budget, industry body India Cellular and Electronics Association (ICEA) on Monday reported widespread feeling of disappointment in the proposals of duty hikes.
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Union Budget 2021: What Gets Costlier and What Gets Cheaper. Check Full List Here
A man watches a live streaming of the Budget on his mobile phone, in Kolkata on Monday. (AFP)
Earlier this month, Sitharaman had stated that the budget for the fiscal year beginning April will be “like never before”. Here is a list of what becomes cheaper and costlier following budget 2021.
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Finance Minister Nirmala Sitharaman presented the Union Budget 2021-22 in Lok Sabha on Monday. It is the ninth budget presented by the Narendra Modi-led Union government. Sitharaman today proposed a sharp rise in capital expenditure for the next fiscal to Rs 5.54 lakh crore, from Rs 4.39 lakh crore in the current financial year. However, Sitharaman s budget did not bring any relief to the middle class as income tax slabs remain unchanged.
Smartphones To Get More Expensive As 2021 Budget Removes Key Duty Exemptions indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.