GST Rate Hike: Oppo, Samsung, And Xiaomi Phones Get Costlier In India

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Following the footsteps of Xiaomi, both Samsung and Oppo have increased the prices of smartphones on Wednesday. The moves come two weeks after the finance minister Nirmala Sitharaman increased the GST rates from 12 percent to 18 percent.

GST Rate Hike: Oppo, Samsung, And Xiaomi Phones Get Costlier In India

 

The new GST rates came into effect from April 1, 2020. This decision was taken to make the duty structure accurate. In fact, all the top smartphone makers have already cleared that the new rates will have a negative impact on the industry.

"We respect the decision from the GST (Goods and Services Tax) Council, after serious consideration, we will be revising the prices of our products from April 1, 2020, across all platforms. We will keep monitoring the market situation and pass on the benefits to our consumers in our endeavor of bringing the best products to them at an affordable price range in the future," an Oppo spokesperson said.

However, Oppo has not made any official announcement on the pricing front. But Mahesh Telecom, a Mumbai based retailer said that the company has increased the prices of smartphones by Rs. 2,000.

Meanwhile, Economic Times reported that Samsung has also increased the prices, and already asked its partners about the development. Furthermore, the report states that the prices are hiked by Rs. 6,000. "We are engaging with them regularly. It was a compliance issue so we were required to be conveyed," a person close to the development was quoted the newspaper.

On the other hand, the industry body India Cellular and Electronics Association (ICEA) has recently said that new rates will put the burden on the industry. There will be a burden of Rs. 15,000 crore on the industry, ICEA estimated. The firm said that there will be a job loss, and it will affect the companies that are planning to invest in India.

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