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Union Budget 2018: Govt raises customs duty on mobile phones from 15% to 20%

Finance Minister Arun Jaitley today announced the Union Budget 2018-19 in which he proposed to increase the customs duty on mobiles phones from 15% to 20%, 15% on some of their parts and accessories, and on certain parts of TVs to 15%. The import tax on mobile phones was at 6% back in 2014, later it was increased to 10% in July, and to 15% in December. This increase of 5% in import tax will seriously affect brands that are yet to establish their plants in India. With Apple is importing most...
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