Price rise for Mobile Phones & Set top boxes
BY - Vaishnavi Gupta
Assistant Editor, IndianRetailer.com & Retailer Magazine Feb 28, 2013 / 3 MIN READ
Assistant Editor, IndianRetailer.com & Retailer Magazine Feb 28, 2013 / 3 MIN READ
Mobile handsets priced above Rs 2000 will attract an excise duty six per cent however the concessional excise duty of one per cent remains unchanged for low priced phones.
The import duty on Set top boxes has also been increased from five per cent to 10 per cent. The DTH industry already gives away 32 per cent of its revenue as taxes.
Anirudh Dhoot; President – CEAMA & Director, Videocon says, ""The Hon’ble Finance Minister has a given balanced Budget and kept the basic tax structure unchanged except increase of surcharge in some cases. Focus is given to infrastructure and development of science and technology. As far as electronics industry is concerned, its encouraging to promote set top box manufacturing by increasing import duty from 5% to 10% and to boost local manufacturing of high tech electronic products in India. Excise Duty on mobile phone above Rs. 2,000 raised from one to six percentage on the basis of MRP. So mid and high end mobile phone will get costlier. Further if an MSME grows into a larger enterprise, benefits or preferences will continue up to three years after its growth and this will give incentives to MSME to grow to their potential. Overall, the budget is positive for the Consumer Durables & Electronics Industry."
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