GST is one Nation one tax method that is very profitable for Businessman and common man. The GST removes all type of indirect tax. The government took a historic step in economical Reform after independence applying GST. This is a new tax system that is easy to understand and easy to pay in a professional way. This article mainly focuses on simplifying the effect of GST on Indian Smartphone brands. It is expected that the new tax system will alter the price of the commodity. You should have information to understand the effect of GST on Indian Smartphone brands. These are some easy to follow the method that helps you understand the effect of GST on Smartphone brand in an easy way.
Indian Smartphone Brand can Come Back:
This is the best tax system that helps Indian Smartphone brand can come back in the market. The government main focus is to promote local manufacturer business by making India project successful. This is a biggest game changer situation in Technology Sector. The new GST system makes imported mobile phone and other consumer electronics costly because of heavy customs duty on goods. The government decided to increase the price of imported electrical goods by applying 10% basic customs duty with immediate effect. All type of mobile and accessories like charger, handset, and battery, USB cable will become costly. Now it becomes bad option to choose imported her mobile phone and accessories after GST apply in India. This makes the beneficial situation for Indian brand Smartphone manufacturer to sell their Smartphone at the lowest price that is a win-win situation for Indian Smartphone manufacturer.
Low Price Indian Smartphone:
Due to GST effect, all Indian brand Smartphone cost decrease and the demand for Indian brand Smartphone increase that is a profitable situation for local manufacture. The GST tax system helps remove China manufacture mobile phone from the Indian market. It will decrease the GST category tax on local manufacture branded Smartphone like Micromax and Spice. It provides a profitable platform to a local manufacturer to come competition in National level with quality Smartphone. It is very beneficial for the user to get a local brand phone with world class quality. It provides enough money save in tax form that manufacturers to spend on research that is beneficial for the nation in long term.
Platform for New Mobile Manufacturer:
It provides enhance local manufacturer to enhance their business on a national level. This way passes through make in India way to provide a suitable platform for new comer in Smartphone manufacturing. It helps many new comers to come and grow their business in a genuine way.
Uniform Tax on Smartphone
The GST rate on Smartphone is 12% that is uniformly four slabs. The smart phone also includes in Bara present GST rate. It decreases the price of a small home that is beneficial for the user and manufactures both. It provides genuine quality phone by paying GST tax on Smartphone in legal ways.
These are the most common positive effect of GST on Indian Smartphone brand value. The list of the benefit is endless. This is the best opportunity for the manufacturer to grow their business on national level to competitive quality and features.