Goods & Service Tax (GST) 15 September 2026
Mobile Makers Push 5% GST Cut Ahead of Council Meet
Mobile phone manufacturers are lobbying the upcoming 57th GST Council meeting on October 7 to reduce the goods and services tax to 5%, arguing that soaring memory component prices are suppressing consumer demand. The industry hopes the cut will revive sales and offset cost pressures.
Mobile phone makers are urging a GST reduction to 5% ahead of the Oct 7 council meeting.
- Memory chip prices have surged, sharply curbing demand for smartphones.
- A lower GST rate is viewed as an immediate way to revive sales.
- The council will also consider related issues such as the UPI merchant discount rate.
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