Xiaomi, OPPO Announce 5% Price Hike on Various Smartphone Models Owing to GST Rate Revision

Two weeks ago, following the 39th GST Council meeting on March 14, finance minister Nirmala Sitharaman announced that the Government of India has decided to increase the GST rate on mobile phones and specified parts. Back then, the government confirmed that the new GST rates would applicable starting April 1, 2020. This decision by the GST Council meant that all mobile phones that attracted a 12%…