iPhones to become costlier after raise in import duty
Post the raise on import duty on smartphones, the price of almost every iPhone model that Apple sells in India has gone up by Rs.3,720. The move to increase customs duty was announced to promote domestic manufacturers and give an impetus to Modi government's ambitious “Make-in-India” initiative. From the earlier 10 per cent, the government had increased import taxes on smartphones to 15 per cent. Other electronic items to get a tax hike included television sets, projectors, and water heaters which saw 5-10 per cent increase in basic customs duty. Apple was expected to increase the prices of iPhones in India soon after the customs duty hike, as it imports them for sale in India. According to updated prices on Apple India's website, the 256GB version of iPhone X has been raised by Rs.3,720 to Rs.1,05,720. Similarly, consumers will have to shell out Rs.88,750 for the 256GB variant of iPhone 8 Plus after an increase.... Read More
