Smartphone prices could get a boost ahead of the festive season as the GST Council may consider reducing the GST rate on mobile phones from 18% to 5%. Business Today’s Surbhi explains why the proposal is being considered amid a sharp 10–11% year-on-year decline in smartphone shipments during the April–June quarter and rising device prices due to higher global memory costs. The proposed cut could make smartphones more affordable, but the move will need approval from the states as the 5% GST slab is largely reserved for essential goods. The council may also review how previous GST rate changes were passed on to consumers.
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