Last month, Finance Minister Nirmala Sitharaman announced the new GST rates for the smartphone industry. The taxation rate has been increased from 12 to 18 percent and it was scheduled to take effect from April 1, 2020. As the date has arrived, smartphone manufacturers have rolled out their statements and have even revised the rates of mobile devices. However, due to the Coronavirus Lockdown, people would not be able to buy them anyways.
Xiaomi, Samsung and Apple have already updated the prices of their smartphones in India. Manu Kumar Jain made the announcement via a tweet where he also mentioned that the new prices will be effective immediately. The new rates will be applicable to both online and offline sectors.
Starting today, Apple iPhones will be available a 5.2 percent bump on the price. As for the latest models, the iPhone 11 Pro's price has gone up from Rs 1,01,200 to Rs 1,06,600. Similarly, the iPhone 11, which was earlier available for Rs. 64,900, will now be up for grabs at Rs. 68,300. Last year's iPhone XR is now available Rs 52,500 bringing it up from Rs 49,900.
Mi fans, #GST on mobile phones has increased by 50% from 12% to 18%.
After much deliberation & in keeping with #Xiaomi policy of maintaining <5% margin on our hardware products,we will be increasing prices of our products.
New prices will be effective immediately. Thank you! 🙏 pic.twitter.com/mdTqKdXm3r— Manu Kumar Jain (@manukumarjain) March 31, 2020
Xiaomi has also increased the prices of its Redmi, Mi and Poco devices in India. Poco X2's 6GB+128GB variant was earlier selling for Rs 16,999. Now that price tag is snatched by the 6GB+64GB variant and the 128GB model now costs Rs. 17,999. The Redmi K20 series has also seen a bump in the price as the K20 and K20 Pro now start at Rs. 19,999 and Rs. 24,999 respectively.
Samsung has also increased the prices of its smartphones in India. The Samsung Galaxy S20 Ultra was launched at Rs 92,999 but will now be available for Rs 97,900. The prices of the Samsung Galaxy S20 and Galaxy S20+ have also been refreshed to Rs 70,500 and Rs 77,900 respectively.
The recently launched Samsung Galaxy S10 Lite and Galaxy Note 10 Lite (8GB RAM variants) are now available for Rs 43,100 and Rs 42,142 respectively. Lastly, the foldable Samsung Galaxy Z Fip, which was launched for Rs. 1,09,990, is now available for Rs. 1,15,890.