Union Budget 2024: How much Tax will you pay for smartphone to government

Union Budget 2024: In the 2024 Budget, Finance Minister Nirmala Sitharaman has made significant announcements targeting various sectors and demographics. The government’s initiatives include promoting smartphone manufacturing in India through new policies. Specifically, the Budget outlines a reduction in Basic Customs Duty (BCD) on smartphones and chargers, which is expected to lower their prices. The Budget also emphasizes support for marginalized groups such as the poor, youth, women, and farmers, reflecting a focused approach in the Union Budget for 2024-25 presented by Finance Minister Nirmala Sitharaman on Tuesday.

Demand for Made in India

The demand for Made in India smartphone has increased globally, with India’s production to increase to $ 49 billion in FY 2024, which increased from $ 10.96 billion to 42% 42% 42% in FY 2023. Currently, 98% of the smartphones sold in India are domesticly manufactured, outlining the country’s strong manufacturing capabilities in the smartphone sector.

Pay attention to solar technology and space development

Finance Minister Nirmala Sitarman has announced PM Surya Ghar Free Power Scheme, aims to connect 1 crore houses with solar technology on the roof, providing 300 units of electricity. In the bid to promote space development, the government plans to set up an enterprise capital fund of Rs 1,000 crore dedicated to pursue space technology. In addition, in the Union Budget presented by the Finance Minister, PCBA (printed circuit board assmble) duty for telecommunications equipment has been increased from 10% to 15%.

How much Tax for smartphone and charger

One of the important announcements in the technology sector is the lack of basic customs duty (BCD) 15%. This film will have a direct impact on consumers, which will make the mobile phone and Associated components less prose. Currently, Apple manufactures iPhones, and many other companies in India.

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