There may be good news for consumers planning to buy mobile phones. The 57th meeting of the GST Council, which is scheduled to be held in New Delhi on September 12, may discuss reducing the GST on mobile phones. Currently, 18 percent GST is levied on mobile handsets. It is reported that mobile phone manufacturers have demanded to reduce this. If the GST rate is reduced, then the price of mobile phones is likely to come down.
GST Council meeting on September 12
The 57th meeting of the GST Council will be held in New Delhi on September 12. Earlier, the 56th meeting was held on September 3 last year. In that meeting, a major change was made in the GST rate. It was decided to remove the 12 percent and 28 percent GST slabs. In the upcoming meeting, discussions may also be held on making the GST return even simpler. It is also possible to consider simplifying the GST return process like income tax return.
Will GST on mobile phones be reduced from 18% to 5%?
According to sources, there may be discussions to reduce the 18 percent GST levied on mobile handsets. Mobile manufacturers have demanded that the GST be reduced from 18 percent to 5 percent. Manufacturers are hoping that this will reduce the price of mobile phones and increase sales in the market.
Phones have become expensive due to increase in chip memory prices:
In the last one year, the price of chip memory is said to have increased by more than 400 percent. Due to this, the price of mobile handsets has increased by about 20 percent. It is said that the sale of mobile phones is also being affected due to the increase in prices. In such a situation, if the GST is reduced, the consumers may get some reassurance.
Consumers’ focus on September 12 meeting:
A final decision has not been taken yet on the GST reduction on mobile phones. A clear picture will emerge only after the GST Council meeting on September 12. If the 18% GST is reduced, then there is an expectation that the prices of mobile phones will come down in the coming days.
