Smartphone sellers are demanding tax reforms to revive their industry.
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Smartphone sellers are demanding tax reforms to revive their industry.
Mobile phone retailers in the country are seeking reduction in GST on smartphones, tax exemption for small retailers and collateral free loans of up to Rs 20 lakh by NBFCs, and more, aimed at promoting industry's growth, ahead of the Union Budget 2025.
Kailash Lakhyani, Founder-Chairman of All India Mobile Retailers Association (AIMRA), wrote in a letter to Finance Minister Nirmala Sitharaman, as seen by Acko Byte: "On behalf of the 1.5 lakh mobile retailers across India, we urge you to consider the suggested measures to support our industry and which are in complete sync with or Hon'ble Prime Minister Shri Narendra Modi ji's 'Vocal for Local' initiative."
The country's smartphone sellers are pressing for tax reforms to revive their industry. In a letter to the FM, the AIMRA has emphasised the need to reduce the GST burden on mobile devices, suggesting a significant drop from the current 18 per cent to 5 per cent.
This proposed adjustment aims to tackle two critical issues: making smartphones more accessible to consumers and combating unauthorised sales channels.
According to AIMRA representatives, the existing tax structure often pushes potential buyers toward unofficial markets seeking better deals.
Beyond GST reforms, mobile phone retailers across the country have outlined additional measures to strengthen the retail ecosystem. Their proposal includes providing tax relief to smaller vendors whose yearly earnings fall under Rs 10 lakh, a move designed to protect and nurture local businesses.
AIMRA also seeks enabling NBFCs to extend loans up to Rs 20 lakh without collateral requirements.
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