1. Mobile phones priced over Rs 2,000 to become expensive, attract 6 percent excise duty

    Mobile phones priced over Rs 2,000 to become expensive, attract 6 percent excise duty
    Mobile phones would be getting more expensive this fiscal year, especially those that cost more than Rs 2,000 as they will now attract an excise duty of 6 percent. Finance Minister P Chidambram made the announcement while tabling the annual budget in the Parliament today. This rise of 5 percent, from last year’s 1 percent excise duty, will specially impact the entry-level and the mid-range phones where companies normally do a lot of cost-cutting on different aspects of the phone to keep the final price of the device down. This move will especially hurt companies like Nokia and ...
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