GST impact on mobile phones: It seems the Goods and Services Tax (GST) is making a positive impact on phone prices within just 2 days of launch by President Pranab Mukherjee and Prime Minister Narendra Modi in Parliament, at least for the buyers. A day after Apple iPhone prices were slashed, Asus too has reduced rates of some of its phones. The prices of Asus ZenFone 3, ZenFone 3 Max variants have been slashed according to a report in The Indian Express. With this move, after Apple, Asus has become the second major smartphone maker to cut prices of its phones after the rollout of the GST. Asus ZenFone 3 (ZE552KL), ZenFone 3 (ZE520KL), ZenFone 3 Max (ZC553KL) and ZenFone 3S Max are much cheaper to buy after GST rollout. Reportedly, the prices of the smartphones have been reduced by up to Rs 3000 on some variants.
– Asus ZenFone 3 (ZE552KL) can now be bought at Rs 16,999, earlier it was priced at Rs 19,999.
– Asus ZenFone 3 (ZE520KL) gets cheaper by Rs 2000. It is now available at Rs 15,999, as opposed to earlier price of Rs 17,999
– Asus ZenFone 3 Max (ZC553KL) is now available at Rs 14,999 i.e down from Rs 15,999
– Asus ZenFone 3S Max got price cut and was priced at Rs 14,999 but now it is for Rs 12,999
GST was launched on Friday midnight at a gala event. The historic Central Hall of Parliament opened for its first midnight ceremony in two decades for the launch of India’s most sweeping tax reform, GST, with country’s top leaders, cinestars and industrialists in attendance. President Pranab Mukherjee, who piloted the first constitutional amendment for unifying more than a dozen central and state taxes, shared a specially erected dais with Prime Minister Narendra Modi and Vice-President Hamid Ansari. Lok Sabha Speaker Sumitra Mahajan and former prime minister H D Deve Gowda too were on the dais with Finance Minister Arun Jaitley.
GST has been dubbed as the most significant economic reform since BJP government came to power in 2014 and is expected to add as much as 2 percentage points to the GDP growth rate besides raising government revenues by widening the tax net.
A four-rate structure that exempts or imposes a low rate of tax of 5 per cent on essential items and top rate of 28 per cent on cars and consumer durables has been finalised. The other slabs of tax are 12 and 18 per cent.