Finance Minister Lowers Customs Duty on Mobile Phones and Components
In the Union Budget 2024, Finance Minister Nirmala Sitharaman announced a reduction in the basic customs duty on mobile phones, chargers, and some components. This move addresses a significant demand from the electronics manufacturing industry. Currently, imported smartphones sold in India are subject to an 18% GST and a 22% customs duty (20% basic and 2% surcharge). The 10% surcharge on the basic customs duty will remain unchanged.
Following the cut, the total customs duty is now 16.5% (15% basic and 1.5% surcharge). For phones made in India, only the 18% GST is applied. Apple imports its iPhone Pro and Pro Max models, while other models are manufactured in India.
As a result of this announcement, Apple has reduced the prices of iPhones in India. The price cut on base models (non-Pro) is minimal at Rs 300, but the cut on high-end Pro models is up to Rs 6,000. Below are the new prices for iPhones on Apple’s official store in India.
Also Read:- Apple iPhone 16 Pro Max Set for September 2024 Launch: New Features and Upgrades
Current Prices of Apple iPhones
Apple has updated its website with the new prices. The iPhone 15 Pro and iPhone 15 Pro Max models have received a discount of up to Rs 6,000, while the iPhone 15 and iPhone 15 Plus have received smaller discounts. Here’s a comparison table of the current prices for all iPhone models listed on Apple’s website:
| iPhone Model | Storage Variant | Old Price (Rs ) | New Price (Rs ) |
| iPhone 15 | 128GB | Rs 79,900 | Rs 79,600 |
| 256GB | Rs 89,900 | Rs 89,600 | |
| 512GB | Rs 109,900 | Rs 109,600 | |
| iPhone 15 Plus | 128GB | Rs 89,900 | Rs 89,600 |
| 256GB | Rs 99,900 | Rs 99,600 | |
| 512GB | Rs 119,900 | Rs 119,600 | |
| iPhone 15 Pro | 128GB | Rs 134,900 | Rs 129,800 |
| 256GB | Rs 144,900 | Rs 139,800 | |
| 512GB | Rs 164,900 | Rs 159,700 | |
| 1TB | Rs 184,900 | Rs 179,400 | |
| iPhone 15 Pro Max | 256GB | Rs 159,900 | Rs 154,000 |
| 512GB | Rs 179,900 | Rs 173,900 | |
| 1TB | Rs 199,900 | Rs 193,500 |
| Apple iPhone 14 | Old price | New price | |
| 128GB | Rs 69,900 | Rs 69,600 | |
| 256GB | Rs 79,900 | Rs 79,600 | |
| 512GB | Rs 99,900 | Rs 99,600 |
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