Mobile phones to cost more from Apr1- FM Mukherjee

Mobile handset prices will become more expensive as Finance Minister Pranab Mukherjee today announced one percent hike in the Central Excise duty for 130 items, including phones.Come April 1 and central excise duty on mobile phones will be raised from the current four per cent to five per cent.

“The increase in central excise duty is detrimental as it will make mobile phones more expensive and provide impetus to the grey/un-branded market,” Nokia India VP and MD D Shivakumar said.

According to business research and consulting firm Frost & Sullivan, the overall budget may be positive, but no tax incentives to the telecom industry remains an area of concern.

“The Budget 2011 covered too little on telecom, while this is one of the fastest growing sectors.

Related posts:

1. Micro-wave ovens, pre-packaged imported goods, mobile phones, watches, readymade garments, toy baloons, long pepper, replaceable household water filters to be cheaper
2. Bajaj Allianz launches instant tax calculator for mobile phones
3. Credit on Mobile Phone Bill is admissible when the calls made from the mobile were relatable to the business of the assessee even when such phones were not installed in their premises.
4. SEBI barred use of mobile phones in dealing rooms
5. RBI Set Limit for Transaction through Mobile Banking