As part of the Union Budget 2024, Finance Minister Nirmala Sitharaman has reduced the basic customs duty on mobile phones and chargers. This move is expected to benefit consumers as well as the electronics manufacturing industry. Apple has slashed the prices of its iPhones in India as a result of this significant policy shift, particularly for the more expensive models. Here is a point by point take a gander at the new estimating and how it affects shoppers.
Effect of Lowering Customs Duty
The decrease in customs obligation has been a longstanding interest of the gadgets fabricating industry. Beforehand, imported cell phones sold in India pulled in a 18% GST and a 22% traditions obligation, which incorporated a 20% fundamental obligation and a 2% extra charge. The new changes have brought the absolute traditions obligation down to 16.5% (15% essential and 1.5% additional charge). Only the 18% GST is levied on Indian-made smartphones. Apple, which manufactures other models locally while importing its iPhone Pro and Pro Max models, has responded by raising prices.
Price Value Decreases on iPhones
Following the traditions obligation decrease, Apple has refreshed its costs on the authority Apple Store in India. The main cost cuts are found in the top of the line iPhone 15 Genius and Star Max models, with limits of up to Rs 6,000. In the interim, base models have seen immaterial decreases of around Rs 300. The following is an itemized examination of the old and new costs.
New Costs of iPhones in India
iPhone Model Storage Variant Old Value (Rs) New Value (Rs)
iPhone 15 128GB 79,900 79,600
256GB 89,900 89,600
512GB 109,900 109,600
iPhone 15 Plus 128GB 89,900 89,600
256GB 99,900 99,600
512GB 119,900 119,600
iPhone 15 Pro 128GB 134,900 129,800
256GB 144,900 139,800
512GB 164,900 159,700
1TB 184,900 179,400
iPhone 15 Expert Max 256GB 159,900 154,000
512GB 179,900 173,900
1TB 199,900 193,500
iPhone 14 128GB 69,900 69,600
256GB 79,900 79,600
512GB 99,900 99,600
iPhone SE – 49,900 47,600
iPhone 13 – 59,900 59,600
India’s consumers will be pleased by Finance Minister Nirmala Sitharaman’s decision to reduce the basic customs duty on mobile phones and chargers. Apple’s ensuing cost cuts, particularly on the top of the line iPhone Ace models, make these top notch gadgets more available. While the decreases on base models are insignificant, the general cost change mirrors the public authority’s endeavors to support the gadgets business and make very good quality innovation more reasonable for Indian shoppers.