India’s leaders will share their financial plan for 2024 on 1 February. The Finance Minister, Nirmala Sitharaman, will talk about it in the Parliament House, and people all over the country are interested.
Even those who use smartphones are paying attention to the budget. But, the government has a nice surprise for people who use smartphones, even before they share the budget.
The Indian government has made things used in mobile phones cheaper by reducing the tax on bringing them into the country.
The government gave a gift to the public
Union Electronics and IT Minister Ashwini Vaishnav shared that the government made parts for making mobile phones cheaper by lowering the custom duty tax.
Because of this, companies will spend less money to make mobile phones, and as a result, the price of smartphones might go down.
This will directly benefit the users, which means the regular people in the community.
Government of India slashes import duty on key components used in the production of mobile phones. The import duty has been reduced from 15 per cent to 10 per cent. pic.twitter.com/22CIz9Qoch
— ANI (@ANI) January 31, 2024
The Indian Finance Ministry shared news that taxes on phone parts have gone down from 15 percent to 10 percent.
Union IT and Electronics Minister Ashwini Vaishnav mentioned, “This change in taxes makes things clearer and more certain for the industry and customs procedures.
I am pleased with this move to make the process of building phones stronger. I want to thank the respected Prime Minister and Finance Minister for this.”
Now smartphones will be cheaper
Let me share with you that the government has sorted mobile phone parts into three groups.
Tax on some groups of mobile parts is now 10 percent instead of 15 percent, and there is no tax at all on some other mobile parts.
Let me tell you which mobile parts now have lower custom duty.
1. Battery Cover
2. Front Cover
3. Middle Cover
4. Main Lens
5. Back Cover
6. GSM Antenna
7. PU Case
8. Sealing Gasket
9. Sim Socket
10. Screw
11. Other mechanical items made of plastic and metal
People can gain advantages from lowering taxes on phone parts. It means companies will spend less to make phones, and in the future, phone prices might come down even more.
