rahul1117kumar
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Smartphones prices across brands such as Samsung, Xiaomi, Oppo , Gionee , Intex and Lava won’t increase because of GST , as these companies plan to absorb the impact on cost from the new tax system that comes into effect over the weekend.
Retailers, though, have stopped purchasing stock from brands and some distributors have closed warehouses for a week, till the time process for invoicing and reclaiming credit on duties paid on stock and other aspects are clarified by brands, said industry insiders.
“There will be no impact on pricing,” said Gionee managing director Arvind Vohra. “Currently there is a differential tax in the market — in some markets you will give (tax) while in rest you will get it,” he said, indicating that in areas where GST will lead to higher taxes, companies like Gionee will absorb it.
China’s Xiaomi and Oppo and Indian handset maker Lava, too, said they won’t change their prices after GST kicks in on July 1.
GST: Samsung, Xiaomi, Oppo, Gionee, Intex & Lava won’t increase smartphone prices - ET Telecom
Retailers, though, have stopped purchasing stock from brands and some distributors have closed warehouses for a week, till the time process for invoicing and reclaiming credit on duties paid on stock and other aspects are clarified by brands, said industry insiders.
“There will be no impact on pricing,” said Gionee managing director Arvind Vohra. “Currently there is a differential tax in the market — in some markets you will give (tax) while in rest you will get it,” he said, indicating that in areas where GST will lead to higher taxes, companies like Gionee will absorb it.
China’s Xiaomi and Oppo and Indian handset maker Lava, too, said they won’t change their prices after GST kicks in on July 1.
GST: Samsung, Xiaomi, Oppo, Gionee, Intex & Lava won’t increase smartphone prices - ET Telecom
